October 21

IB 30/35

We did a little review of supply-side and demand-side economics today. I strongly recommend that you check out my PowerPoint lecture on the IB 30/35 wiki called "The Evolution of Modern Liberalism". You can find it under the Unit 2 link on the sidebar navigation (Unit 2 under Social Studies 30-1). It will cover a lot of the economic concepts that we covered in class as well.

MARKET ECONOMY AND MIXED ECONOMY EXAM STUDY GUIDE:

This exam will be on Thursday, October 24th

• 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
• nationalization
• democratic socialism
• welfare capitalism
• Keynesian economics
• the business cycle and fiscal and monetary policies 
• 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

SOCIAL 30-1

We looked at the command economy notes in your Social 30-1 coursebooks today. You were responsible for going through the notes on Marx, Lenin,and Stalin in your coursebooks this past weekend, so make sure that you have done this. 

MARKET ECONOMY AND MIXED ECONOMY EXAM STUDY GUIDE:

This exam will be on Thursday, October 24th

• 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

SOCIAL 20-1

You read over the section in your Social 20-1 coursebooks called "Was Appeasement a Good Idea?" We watched the BBC 20th Century History series video "Why Appeasement?", and while you watched the video you should have completed the film study, which took most of the period. We'll keep looking at the road to World War II tomorrow.