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hoorcolleges Flashcards

1
Q

What does economic history comprise?

A

The history of different economies, governmental policies, organizations, industries, technology, consumption, economic behavior, labor, and economic aspects.

Includes factors like credit, housing, living conditions, and education.

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2
Q

What is the central question of economics?

A

How to satisfy unlimited needs and wants with limited resources.

Key considerations include what is produced, how it is produced, and how production is divided among the population.

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3
Q

What are the two levels of economic study?

A

Microeconomics and Macroeconomics.

Microeconomics focuses on specific markets, while macroeconomics looks at total production, GDP, unemployment, and investments.

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4
Q

What is the method used in economics?

A

Descriptive and explanatory, using a positivist approach.

This method seeks general laws and employs a model-based and deductive approach.

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5
Q

What is ‘Homo economicus’?

A

A theoretical concept where individuals are rational, self-interested, and have unlimited wants and needs with limited resources.

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6
Q

What does the Ceteris Paribus clause assume?

A

All variables not included are assumed to be constant and not subject to change.

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7
Q

Who introduced the concept of the ‘invisible hand’?

A

Adam Smith.

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8
Q

What is the difference between the Historical School and Neoclassical economists?

A

Historical School focuses on historicism and inductive reasoning, while Neoclassical economists emphasize positivism and deductive reasoning.

Key figures of the Historical School include Friedrich List and Gustav Schmoller.

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9
Q

What is the focus of Traditional Economic History?

A

Narrative descriptions of historical events and developments, often explaining through non-economic factors.

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10
Q

What is the Neoclassical perspective on how markets function?

A

Markets work perfectly, adjusting supply and demand through price mechanisms to reach equilibrium.

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11
Q

What does the Neoclassical view say about unemployment?

A

Unemployment leads to lower wages, increasing demand for labor in a flexible labor market.

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12
Q

What is the role of government in a Neoclassical economy?

A

To protect public order, property rights, and contracts, ensuring a reliable legal system.

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13
Q

What is the Darwinian concept applied in Neoclassicism?

A

Survival of the fittest process, where only the most productive firms survive.

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14
Q

What is John Maynard Keynes’ view on market functionality?

A

The market does not always function properly and can lead to persistent unemployment.

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15
Q

What can the government do to stimulate the economy according to Keynes?

A

Increase government expenditures to raise demand, leading to more investments and job creation.

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16
Q

What is Econometrics in the context of economics?

A

The construction of complicated models based on historical data to explain and predict economic outcomes.

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17
Q

What is New Economic History also known as?

A

Cliometrics.

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18
Q

What is the Rostow-thesis?

A

The idea that modern economic growth is triggered by a sudden increase in investments that accelerates technological development.

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19
Q

What is the difference between extensive and intensive economic growth?

A

Extensive growth is due to an increase in production factors, while intensive growth arises from technological advancements without increasing production factors.

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20
Q

What does the Cobb-Douglas production function depend on?

A

The growth of labor, capital, land, and total factor productivity.

It is expressed as Qt* = ß0* + ß1 x Lt* + ß2 x Kt* + ß3 x Gt*.

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21
Q

What does the Law of Diminishing Returns to Labour state?

A

As more laborers are employed, the additional output from each new worker will decrease.

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22
Q

What are the three sources of long-run economic growth per capita according to the Cobb-Douglas production function?

A
  • Increase in total factor productivity
  • Saving and investing a share of income
  • Improvement in the quality of labor
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23
Q

What is the definition of economic growth?

A

The annual percentage increase of the real Gross Domestic Product (real GDP).

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24
Q

What is the relationship between GDP and National Income?

A

The Domestic Product (GDP) is almost equal to the National Income, adjusted for the real in/outflow of incomes with the rest of the world.

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25
What is the main idea behind saving a share of income?
Saving of a share of income and investing it in the production of capital goods ## Footnote This approach emphasizes investment over mere consumption.
26
What factors contribute to changes in Total Factor Productivity (TFP)?
* Technological improvements * Increase of human capital * Organisational improvements * Economies-of-scale ## Footnote These factors enhance overall productivity in an economy.
27
What does the Law of Say state regarding demand for goods?
Demand for goods is not very relevant; every supply creates its demand in the long run ## Footnote This is a fundamental principle in classical economics.
28
What are macro-inventions according to Joel Mokyr?
Revolutionary new ideas that lead to a flow of micro-inventions ## Footnote These macro-inventions can trigger long-term innovations.
29
What is the significance of path dependency in technological development?
Inventions are built on previous inventions, indicating a gradual process ## Footnote This concept highlights the evolutionary nature of technology.
30
What role does population growth play in agricultural innovation according to Esther Boserup?
Population growth stimulates agricultural innovation to prevent decrease of production per capita ## Footnote This contrasts with Malthusian predictions of diminishing returns.
31
What is the effect of a well-functioning market on economic growth?
Stimulates innovation and productivity growth ## Footnote Countries with liberal markets tend to grow faster.
32
What does catching-up refer to in economic terms?
Rapid economic growth due to imitation of technology from more productive countries ## Footnote Examples include historical events like the Roman Empire and modern China.
33
What is a key factor for economic success according to Daron Acemoglu & James Robinson?
Political and politically related economic institutions ## Footnote These institutions determine whether a society thrives or fails.
34
What is the Ricardian theory of comparative advantage?
International trade benefits all countries compared to closed borders due to lower prices ## Footnote It encourages countries to specialize in products they can produce efficiently.
35
What are the characteristics of core and periphery in Wallerstein's World-systems theory?
* Core: rich, advanced technology, high-quality products * Periphery: poor, inferior technology, cheap labor-intensive products ## Footnote This model explains global inequalities in economic development.
36
What indicators are used to measure standard of living?
* Real wage development * Real national income per capita * Per capita consumption of food and luxury products * Average life expectancy * Welfare system support ## Footnote These indicators provide a comprehensive view of prosperity.
37
What is the duration of a long run economic cycle according to Kondratieff?
About 40 to 60 years ## Footnote This cycle reflects periods of economic boom and slump.
38
What causes crises before 1870?
Especially caused by inflation ## Footnote Examples include the inflation during the French period and the potato crop failure.
39
What were the causes of the financial crisis from 2008 to 2014?
* Overinvestment and overconsumption * Uncertainty about the credit system * Insufficient legislation * Overvaluation of stock market prices ## Footnote These factors contributed to widespread economic instability.
40
According to Thomas Piketty, what leads to growing inequality?
When the return on capital (r) is greater than economic growth (g) ## Footnote This indicates that wealth concentration among the rich increases over time.
41
What is the definition of institutions in economic terms?
A collection of laws, rules, and procedures that shape interactions among people ## Footnote Institutions organize human actions and interactions.
42
What are property rights according to Douglas C. North?
* Allocation and definition of property rights * Protection against exploitation * Security regarding long-term possession ## Footnote Well-defined property rights stimulate economic development.
43
What are property rights according to Douglas C. North?
The allocation and specification of property rights, protection against exploitation, and long-term security of possession ## Footnote Property rights are crucial for economic development and innovation
44
How do well-defined property rights impact economic development?
They provide certainty of ownership, stimulate saving and investment, and encourage technological development ## Footnote Better defined rights reduce the risk of overexploitation of production factors
45
What are transaction costs in market transactions?
Negotiation costs, searching costs, and information costs ## Footnote Efficient institutions can reduce these costs and enhance economic growth
46
What is the function of government concerning property rights?
Specification and protection of property rights ## Footnote Governments may act as 'constrained predatory' entities, focused on maximizing revenues
47
What are the weak points of North's institutional model?
Inability to explain all developments and neglect of individual roles in institutional development ## Footnote The model also underestimates the impact of ideology and culture
48
What is the object of modern sociology?
The systematic study of structure, interaction, and collective behaviour of organized groups ## Footnote It examines social institutions and relationships that provide stability
49
Define 'social structures'.
Relatively stable relations between individuals and groups, expressed in agreements and expectations about behaviour ## Footnote Examples include social class, religion, gender, and ethnicity
50
What does 'agency' refer to in sociology?
Human action and the capacity to act, which is critical to the reproduction and transformation of society ## Footnote Agency is contrasted with structure, which limits an agent's decisions
51
What are institutions according to Douglas C. North?
A set of formal rules and informal conventions that shape human interaction and incentives ## Footnote They provide the framework for societal interactions
52
List the phases in the development of sociology.
* Pre-sociologists (1800-1850) * Classical sociology (1850-1930) * Structural Functionalism (1930-1965) * Critical sociology (1965-1980) * Post-structuralism (1980-) ## Footnote Each phase reflects different theoretical focuses and methodologies
53
Who coined the term 'sociology'?
Auguste Comte ## Footnote Comte's positivism aimed at establishing general laws based on empirical observations
54
What is the Kuznets Curve?
A hypothesis showing the relationship between economic development and income inequality ## Footnote It suggests that inequality rises in early stages of growth and falls in later stages
55
What does Emile Durkheim's study of suicide reveal?
Suicide rates are influenced by social factors, such as urban vs. rural settings and religious affiliations ## Footnote Durkheim's work highlights the importance of social cohesion
56
What are the three components of Weber's social stratification?
* Class * Status * Power ## Footnote These components define an individual's position in society
57
Fill in the blank: The theory that explains the reproduction of inequality is known as _______.
[theory of social capital] ## Footnote This theory was notably developed by Pierre Bourdieu
58
What is 'habitus' according to Norbert Elias?
Ingrained habits, skills, and dispositions shaped by social attitudes ## Footnote It reflects how individuals perceive and react to their social world
59
What does the term 'social mobility' refer to?
The ability to move within the social hierarchy ## Footnote Factors influencing mobility include education and economic opportunities
60
True or False: Structural functionalism focuses on historical changes in society.
False ## Footnote Structural functionalism primarily emphasizes stability and the roles individuals play in maintaining society
61
What is the primary concern of critical sociology?
Problems with the status quo and conflict as a driving force for change ## Footnote It critiques structural functionalism and emphasizes social justice
62
What is the significance of the 'Spirit Level' by Wilkinson and Pickett?
It argues that more egalitarian societies lead to better overall health and happiness ## Footnote The book highlights the benefits of equality for societal well-being
63
What does population growth imply in terms of labor availability?
More workers as there is more labour available
64
What are the expected outcomes after the peak of population growth?
Less agriculture, slower population growth, more educated/skilled labour
65
Who argues that the actions of labour unions contribute to the development of educated and skilled labor?
Paul Krugman
66
What does the Kuznets Curve illustrate?
The relationship between economic growth and inequality
67
According to Wilkinson and Pickett, what is a characteristic of more egalitarian societies?
More developed 'civil society' including 'trading unions'
68
What role do powerful labour unions play in society?
Provide income equality and demand a governmental 'safety net' of social services
69
What is the Paul Krugman-argument in debates?
The importance of labour unions in achieving income equality
70
What does the compound index of health and social problems include?
* Life expectancy * Life mortality * Teenage pregnancy * Obesity * Drugs and alcohol consumption * Murder * Imprisonment * Illiteracy * Social mobility * Confidence/trust
71
What are the two main arguments presented by Robert Putnam regarding civil society?
* Civil society is stronger/more developed in an egalitarian society * More networks of 'bridging' and 'bonding' social capital
72
In complex societies, inequality intersects with which factors?
* Gender * Classes * Race (black/white) * Age * Education * Religion * Family-clans
73
What are the biological variables studied in historical demography?
* Conception * Birth * Mortality
74
What are the social variables considered in historical demography?
* Marriage behaviour * Norms and values * Mentalities
75
What does the 'École des Annales' emphasize in historical studies?
* The history of the daily life of ordinary people * Groups instead of individuals * Regions instead of nations
76
Who are the key figures associated with the 'École des Annales'?
* Marc Bloch * Lucien Febvre * Fernand Braudel
77
What are the three speeds of change according to Fernand Braudel?
* Geographic environmental structures * Economic and social trends * Political daily events
78
What are the two types of checks on population growth identified by Thomas R. Malthus?
* Preventive checks * Positive checks
79
What concept did John R. McNeill introduce regarding human impact on the earth?
Anthropocene
80
What does Ester Boserup argue against Malthus's theory?
Lack of food provides an incentive for technological innovation
81
What is the main focus of Boserup's work?
Population controlled by preventive checks and technology
82
What is the significance of the 'Limits to Growth' report by the Club of Rome?
It simulated exponential growth and the finite supply of resources
83
What are some consequences of climate change identified by the IPCC?
* Sea level rise * Jeopardizing amount of cultivable land * Shifting growing season
84
What does Anthony Giddens advocate for in climate change politics?
A systematic politics of climate change integrating global, economic, and political structures
85
What causes lower mortality rates according to demographic transition?
* More and better quality of food * Increasing standards of hygiene
86
What leads to lower birth rates in demographic transition?
* New perspective on children * Education of girls and women
87
What historical periods are associated with sexual revolutions?
* 1650-1800: First Sexual Revolution * 1800-1900: Second Sexual Revolution * Since 1960: Third Sexual Revolution
88
What is the relationship between structures and agency according to Anthony Giddens?
Structures restrict and offer opportunities
89
What does Putnam argue about civil society and social distinction?
Developed civil society reduces effect of distinction
90
What is a key aspect of social history according to the Enlightenment?
Critical thinking

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