July 10

SOCIAL 30-1

I did a quick review at the beginning of class on the economic-political grid, the boom and bust cycle and the Keynesian economic response to the various stages of the business cycle. I showed you a couple of videos from the BBC 20th Century History series, "Boom and Bust" and "FDR and the New Deal", and while you watched these two videos you should have completed the film study and/or taken notes. I went through, in great detail the usage of monetary and fiscal policy in Canada. I also started a PowerPoint lecture on "The Evolution of Modern Liberalism" which I will finish tomorrow. You must have read Chapter 3 and 4 by tomorrow, and completed the key terms and activities in the Google Doc. I'm moving into Chapter 6 material tomorrow. Please go directly to Room 109 tomorrow morning, we're starting with the Unit 1 WRA II Essay tomorrow. Please remember that you're only allowed to bring the essay question sheet into the computer lab tomorrow. You also wrote an exit slip at the end of class today. 

KEY DATES:

• Unit 1 WRA II Essay is on Wednesday, July 11th
• Ideological Reaction to Industrialization Test is on Thursday, July 12th(please see the study guide below)
• Market and Mixed Economy Test is on Monday, July 16th (please see the study guide below)

IDEOLOGICAL REACTION TO INDUSTRIALIZATION TEST STUDY GUIDE:

This test is multiple choice format. This test is on Thursday, July 12th. 

1. Please review material from these PowerPoint presentations: 

• "The Development of Classical Liberalism"
• "Responding to Classical Liberalism"

2. Be familiar with key concepts introduced in Chapters 3 and 4.
3. The Industrial Revolution:

• understand fundamental economic, social and political changes that were caused by the Industrial Revolution
• understand the connection between the Agricultural Revolution and the Enclosure Acts and the Industrial Revolution
• understand the differences, advantages and disadvantages of the cottage system and the factory system

4. Key beliefs of the various ideologies (review the spectrums briefly); also review this material from the "Responding to Classical Liberalism" PowerPoint presentation:

• Adam Smith
• laissez faire economics/capitalism (key ideas)
• John Stuart Mill
• Karl Marx (key ideas and beliefs associated with Marx, Das Kapital, The Communist Manifesto, withering away of the state, dictatorship of the proletariat, view of history, etc. ) and Friedrich Engels (see "Philosophies of Industrialism" booklet)
• Edmund Burke and classical conservatism

5. Some questions may require you to make connections between this year's material and what you learned in 10-1 and 20-1 as well 

MARKET ECONOMY AND MIXED ECONOMY EXAM STUDY GUIDE:

This exam will be on Monday, July 16th

• Chapters 3-4 and Chapter 6 in Perspectives on Ideology
• please see the summary notes from the Ideologies textbook: Chapter 7 (Private Enterprise)
• supply-side economics
• boom and bust cycle/business cycle
• 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
• FDR and the New Deal
• please see summary notes from the Ideologies textbook on the Mixed Economy Case Studies #14 (Sweden) and #15 (Canada), you can find this on the Social 30-1 wiki
• nationalization
• democratic socialism
• welfare capitalism
• Keynesian economics
• the business cycle and fiscal and monetary policies (study all of the notes I gave you and the booklet that 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
• how supply-side economics deals with a recession