October 19

Social 30-1

You wrote your Market and Mixed Economy Test today. Please remember that you have "Economic Planning in the USSR" booklet due tomorrow. Please also remember that you have your Economic Systems Exam on Thursday (please see the study guide below). If you're interested in taking a survey to see how you might have voted in the 2015 Federal Election, you can answer questions at this website: https://votecompass.cbc.ca/

ECONOMIC SYSTEMS EXAM STUDY GUIDE:

This exam will be written on Thursday, October 22nd. It is a multiple choice question format test. 
This is a comprehensive exam that covers all of the major economic systems: market economy, mixed economy, and command economy. It is 74 multiple choice questions. 

• Chapters 3-6 in Perspectives on Ideology
• study the applicable PowerPoint presentations that are on the wiki under Unit 2 (check your notes): The Development of Classical Liberalism, Responding to Classical Liberalism, The Evolution of Modern Liberalism, 20th Century Rejections of Liberalism (just the USSR section of this PowerPoint)
• In Chapter 5, just focus on the Soviet Union, and left-wing of economic spectrum (command economy), we haven't covered aspects of dictatorships or Nazism yet (the techniques of dictatorship and fascism will be on a Chapter 5 Test)
• please see the summary notes from the Ideologies textbook: Chapter 7 (Private Enterprise), page 78-80 in the Social 30-1 study booklet 
• supply-side economics (page 84 in study booklet)
• boom and bust cycle/business cycle (pages 50-54 and pages 56-62 in 30-1 study booklet)
• laws of supply and demand, Adam Smith, invisible hand, market forces
  self-interest, consumer sovereignty, competition, private ownership, profit motive
• basic economic problems/questions
• advantages/disadvantages of the market economy
• causes of the Great Depression (pages 63-64 in 30-1 study booklet)
• FDR and the New Deal
• please see summary notes from the Ideologies textbook on the Mixed Economy Case Studies #14 (Sweden) and #15 (Canada), #16 (Japan), #17 (Fascism and Nazism): pages 73-76 in the study booklet
• also see the Democratic Socialism booklet on Sweden (indicative planning, "cradle to the grave" economics/"womb to tomb economics"): pages 65-72 in 30-1 booklets
• characteristics of a mixed economy
• nationalization
• privatization
• democratic socialism
• welfare capitalism
• Keynesian economics
• the business cycle and fiscal and monetary policies (study all of the notes I gave you)
• demand-side economics
• neo-conservatives
• monetarism
• trickle down economics
• supply-side economics
• Thatcherism and Reaganomics
• Milton Friedman
• Friedrich Hayek
• how Keynesian economics deals with a recession (remember "the percolator": increase circulation of money reducing taxes, increase government spending on "make work" projects, and reduce interest rates, which according to Keynesian economics is going increase demand for goods and services and lead to more money circulating in the economy) pages 81-82 in the Social 30-1 study booklet 
• how supply-side economics deals with a recession (remember "trickle down coffee maker": government should stimulate the goods and services sector of the economy by reducing corporate and personal taxes, eventually benefits will "trickle down" to the middle class and working class, make connections between supply-side economics and laissez faire economics/classical liberalism): pages 81-82 in the 30-1 booklet
• advantages and disadvantages of a mixed economy
• neo-conservative criticism of government intervention
• characteristics of a centrally planned economy
• advantages and disadvantages of a centrally planned economy
• Marx notes (pages 94-96 in 30-1 booklet)
• Lenin notes (pages 97-98 in 30-1 booklet)
• establishment of the Soviet Union
• Soviet economic system (top-down decision-making process): study pages 105-114 in the Social 30-1 booklet
• Lenin's War Communism and the New Economic Policy
• "Stalin and the Modernization of Russia" (see film notes)
• Stalin notes (pages 99-101)
• "Changes to Soviet Society After Stalin" notes (this bridges the gap between Stalin and Gorbachev): pages 116-117 in 30-1 booklet
• Gorbachev to Collapse Notes: pages 118-121 in 30-1 booklet
• Economic Planning in the USSR: pages 122-129 in 30-1 booklet
• Market Socialism (pages 130-132 in the Social 30-1 booklet)

IB 30/35

We started our examination of the causes of World War I. Studying the causes, courses/practices and results of WWI will aid us in studying Prescribed Subject 1.

Social 10-1

I finished off the PowerPoint "Historical Globalization and Imperialism". As I went through this presentation, you should have taken down notes. Please remember that you have your Chapter 7 Test on Friday, October 23rd, you can find the study guide below.

CHAPTER 7 TEST STUDY GUIDE:

This quiz will have three sections: a matching section, a multiple choice section, and a short answer section.

1. Key Terms for Chapter 7 Test:

• historical globalization
• the Silk Road
• international trade
• the Columbian exchange (the grand exchange)
• mercantilism
• capitalism
• free market
• Adam Smith
• entrepreneur
• communism
• industrialization
• the Industrial Revolution
• cottage system
• physiocrats
• exploitation
• imperialism
• Eurocentrism
• ethnocentrism
• European imperialism
• "old" imperialism
• "new" imperialism
• colony
• protectorate
• sphere of influence

2. Study the Questions for Inquiry from Chapter 7 (be able to answer these questions using case studies and examples that we have covered in class):

• What were the beginnings of global trading networks?
• What values are associated with capitalism?
• Whose values did industrialization effect?
• Why did England industrialize before other European powers?
• What were some of the effects of the Industrial Revolution?
• In what ways did imperialism benefit one people over another?