Tok economics lesson 4
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TOK Economics lesson # 4. Central themes in economics. Role of government. To what extent should governments intervene in the allocation of resources? Advantages of a large government? Disadvantages of large government role? DVD Ch. 2: Capitalism v. Socialism – The Cuban Quandary.

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TOK Economics lesson # 4

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Tok economics lesson 4

TOK Economics lesson # 4

Central themes in economics


Role of government

Role of government

  • To what extent should governments intervene in the allocation of resources?

  • Advantages of a large government?

  • Disadvantages of large government role?

  • DVD Ch. 2: Capitalism v. Socialism – The Cuban Quandary


Hdi vs efi

HDI vs. EFI

  • HDI is a measurement of the quality of life in a country

  • EFI is a measurement of the amount of economic freedom in a country (high EFI means low level of government intervention)

  • Countries with high HDI numbers tend to also have high EFI numbers


Income inequality

Income inequality

  • To what extent might the goal of economic efficiency conflict with the goal of equity?

  • WHY might that be the case?

  • Which goal is more important?

  • Occupy Wall Street - the 1% vs. the 99%

  • DVD Ch. 23 Pareto Optimality & Pecan Pie


Growth vs development

Growth vs. Development

  • Growth: An increase in real GDP (a country has more stuff!)

  • Development: An improvement in people’s quality of life (measured by the HDI)

  • Which is more important?

  • Is there a trade-off between the two? PPF


Sustainability save the world every day

Sustainability (Save the world EVERY day!)

  • The threat to sustainability as a result of the current patterns of resource allocation

  • Why is the concept easier said than done?

  • Sustainability in a Changing World video (Christian Slatter & Enzo Tiezzi http://www.youtube.com/watch?v=W2DIpohdUI0


Less developed countries ldcs

Less Developed Countries (LDCs)

  • How obligated are wealthy countries to help LDCs improve?

  • Why do they need our help?

  • What’s in it for us?

  • Why not help Americans first?

  • Should the US give more foreign aid or less?

  • What role should politics and economic benefit (e.g. natural resources) play in which countries we help, vs. degree of need?


Freakanomics

FREAKANOMICS?

  • Maybe….


Homework

HOMEWORK?

  • Maybe….


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