gs_-30_--_GRAND_SUMMARY - ANNOUNCEMENTS EXEMPTIONS FROM THE...

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1 3/19/2010 Econ 11 -- Lecture #30 1 ANNOUNCEMENTS ± EXEMPTIONS FROM THE FINAL EXAM WILL BE POSTED AT ABOUT 2 P.M. BY THE TEACHING FELLOWS. ± ALL STUDENTS ARE ADVISED TO PERFORM AN EVALUATION OF THE COURSE AT 8:40 A.M. ANNOUNCEMENTS (#2): ± SCHEDULE OF EXAMS: o TEST #1 –TEST #2 -- TEST #3 – Done! o FINAL EXAM – March 31, 2010 – o Time: 8-10 a.m. Rooms to be announced. o Coverage: ALL TOPICS COVERED IN THE LECTURES & READINGS. Lecture #30: GRAND SUMMARY ± ECONOMIC SYSTEMS – CAPITALISM vs. SOCIALISM/ COMMUNISM ± COLLAPSE OF THE SOVIET UNION ± ECONOMIC REFORM IN CHINA ± GRAND SUMMARY: “STATE AND MARKET”
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2 3/19/2010 Econ 11 -- Lecture #30 4 ECONOMIC SYSTEMS: CAPITALISM VS. SOCIALISM 3/19/2010 Econ 11 -- Lecture #30 5 SOCIALISM ± THE STATE OWNS THE PRODUCTIVE UNITS ± COMMUNISM – An extreme form o Productive units owned by the state across many sectors of the economy o A large degree of state planning of production, consumption, investment o Example: Defunct Soviet Union and other economies that followed it; China today (although China is changing!) 3/19/2010 Econ 11 -- Lecture #30 6 SOCIALISM (#2) ± “WELFARE SOCIALISM” – A mild form o State enterprises for critical natural monopolies o Many programs to provide social security, health insurance, job guarantees, and pensions o Many Western European countries
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3 3/19/2010 Econ 11 -- Lecture #30 7 MARKET ILLUSTRATING GRADES OF SOCIALISM STATE 3/19/2010 Econ 11 -- Lecture #30 8 MARKET
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This note was uploaded on 04/18/2010 for the course SE 67256 taught by Professor Dr.gerardosicat during the Spring '10 term at University of the Philippines Diliman.

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gs_-30_--_GRAND_SUMMARY - ANNOUNCEMENTS EXEMPTIONS FROM THE...

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