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30 Cards in this Set
- Front
- Back
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Components of the Human Development index |
a composite statistic of life expectancy, education, and income indexes used to rank countries into four tiers of human development. |
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Individually consumed, easy to exclude
Examples |
Private good
Phone, Watch, Car |
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Indivdualy consumed, difficult to exclude
examples |
Common Pool Good
Atlantic ocean, moon, grazing lands |
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Jointly consumed, Easy to exclude
Examples |
Toll good
Turnpike,cable tv
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Jointly Consumed, Dificult to exclude |
Public Goods
Defense, Courts, infrastructure
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Order of Political structures throughout history |
Competing city States
Modern empires(ROME, Persia)
Chaos
Feudalism
Absolute monarchy
Limitied Monarchy
Cetralized Nation-State or Constututional republic
Multi-State Blocks(NATO,EU, G8) |
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Who Ruled & Drivers of Change
Competing City States |
Kings,priests, noblility
Warfare over resources |
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Who Ruled & Drivers of Change
Modern Empires |
Kings, Emperors, Aristocracy
Over expansion, internal corruption |
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Who Ruled & Drivers of Change
Chaos |
Local warlords, church
Conquest of Warlords creates "Kings" |
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Who Ruled & Drivers of Change
Feudalism
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Kings and vasals and the Church
Increesed centrilization via conquest of kings |
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Who Ruled & Drivers of Change
absolute monarchys |
Kings Court: Advisors, Clergy, Aristocrats
External warefare, increesed power of vassals |
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Who Ruled & Drivers of Change Limited monarchys |
Kings Court Advisors, Clergy, Aristocrats + Merchants and Bankers
Rise of Civil Society, early parliments |
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Who Ruled & Drivers of Change
Centralized Nation State/ Constitutional Republic
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Centralized Nation State= dictators revolution
Constitutional Republic= legislature, executives
Acessions to inculsions via parliment |
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Who Ruled & Drivers of Change
Multi State Blocs |
Nation- States, Multi-National finincial coperations, Regional Blocs(EU)
Global flow of capital, Global labor, technology |
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Core Functions of a Modern Political Economy |
Defense of territory
Infrastructure
Foriegn Relations
Uniform Court and Police Systems
Maitnance and managment of Currency
Maintain Social Stability |
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Political economy definition |
The study of the economy from a social perspective |
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Structural causes |
New technology
Business reorginization through mergers and takeovers
Reorginization of unemployment conditions globalization of productions
Changes in economic role of governments
Change in prevailing economic ideologies
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Asset Classes |
A group of securities that exhibit similar characteristics, behave similarly in the marketplace, and are subject to the same laws and regulations.
The three main asset classes are equities (stocks), fixed-income (bonds) and cash equivalents (money market instruments).
It should be noted that in addition to the three main asset classes, some investment professionals would add real estate and commodities, and possibly other types of investments, to the asset class mix. Whatever the asset class lineup, each one is expected to reflect different risk and return investment characteristics, and will perform differently in any given market environment |
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Causes of Market failure and outcomes
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Uneven development
trade imbalance and debt
speculation and economic instibility
Unemployment
economic inequality
Enviromental stress |
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Nation
Country
Nation State |
Nation- Tight knit group of people that share common heritage
Nation State- monoply on use of force within borderd
Country- political entity that self governs, same as a State |
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Entities nessecary to constitute a market |
? |
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Institutional forces
State& comunity |
voluntary or governent welfare provision |
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Instutional forces Comunity and market |
commodification of social life |
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Institutional forces Market and state |
Private vs public sector |
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Geopolitical levals
Nation and locality |
Regionalism |
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Geopolitical levels
Locality and World |
Global cities |
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Geopolitical levels
World and Nation |
National sovereignty |
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Classical political economy |
Economic systems producing goods and services surplus to what is required for social reproduction |
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Institutional economics |
The nessecity for economic theory to evolve with changing times |
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Keynesian economics |
Government intervention nessecary |
