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Aristotle

government ruled by middle class citizens (rich exploit poor)

Hobbes Leviathan

promoted totalitarianism

Locke Treatises

power in hands of people, only give up some power.

Rousseau

limited power of gov’t

subfields of political science

American government and politics, comparative government, international relations

scientific method in political science

observational/evidential (characteristics_, observation laws (predictions based on what you see), theories (ideas that can be formed based on evidence)

constitution

how does national gov’t function

articles of confederation

weak and inffective constitution, unicameral legislature, couldn’t regulate trade, no court system, and amendments needed unanimous consent.

Shay’s Rebellion

farmers to rebel against government during critical period, a of c couldn’t maintain order.

constitutional convention

new constitution was created

Thomas Jefferson

protect life liberty and property

Magna Carta, Bill of Rights

affected limited government ideas of constitution

tenth amendment

powers not given to national government go to states. federalist ideal

elastic clause

implied powers to implement delegated powers such as judicial, war and peace powers

article 5

amendments allowed

speaker of the house

leader of house of representatives

presidential succession

president dies, vp dies, speaker of house takes office.

judicial review

power to determine constitutionality of a law or action of legislative and executive branches of government. started by Marbury vs. Madison

civil service act

reformed spoils system

federalist party

Hamilton, strong federal government- pro British

Jeffersonanian

against strong federal govermnet, strict constructionist.

due process

following appropriate legal proceedings

Bill of Rights

protections of Americans rights

fourteenth amendment

cannot deny civil liberties to people in the states (equal protection under the law)

first amendment

separation of church and state, freedom of press, speech, religion

fourth amendment

search warrant

fifth

double jeopardy

eighth

cruel and unusual punishment

Dred vs Sanford

sue for freedom in a new state, could not outlaw slavery, no black slave could be a citizen of the US

West Virginia vs. Barnette

compulsory saluting of the flag unconstitutional

Korematsu vs . united states

could imprison Japanese to protect during wartime, civil liberties restricted

Mapp vs. Ohio

cannot introduce illegally obtained material as evidence in a trial.

Gideon vs. Wainright

courts provide support to poor people in felony cases

Escobedo vs Illinois

able to get counsel prior to interrogation by police

Miranda vs. Arizona

due process rights before interrogated by police.

Tinker vs. Des Moines School District

black armbands a written protest protected by first amendment

Roe Vs. Wade

allowed abortion if child isn’t viable (able to survive outside womb)

Bakke vs Regents of California

universities quota system unconstitutional

Hazelwood School District vs. Kuhlmier

student publications not protected under rights to show their ideas might reflect ideas of people in the school

Morgantheau

realism on international stage. Interest defined as power.

Peace of Westphalia

led to nation state- took away popes power over Feudal Europe and led to geographic and political entities . Concluded 30 years war.

eighteenth century

golden age of diplomacy

late eighteenth and nineteenth centuries

nation states grew. people wanted to unite ethnic groups

deterrent capabilities

creating nuclear arms so as to avoid war and keep peace.

multipolar system

more than two ideological philosophies worldwide (new world order)

Hugo Grotias

Father of International law

macroeconomics

economy as a whole-inflation, unemployment and economic growth.

microeconomics

parts of economy-households, business firms, and government agencies.

empirical analysis

compare predictions with actual performance of economy

positive economics

objective or scientific analysis of what is

normative economics

analysis of what should be

scarcity

humans needs and wants are never able to be satisfied due to economic reasons. Not enough to go around.

opportunity costs

most make choices to forgo other. ex. if you buy a tv you may have to cancel cell phone membership

individidualism

emphasizing individual’s actions

rational behavior

people act in ways to achieve goals and avoid activities that might detract from their goals

marginal analysis

people make choices by waying costs and benefits

specialization and division of labor

an efficient way for team of production to be given parts of a production plan. Certain people specialize in parts of labor. Way to maximize economic growth

goods and services

goods: foods, cars, clothing
services: education, health care, leisure

resources of production

land, labor, capital, entrepenuership, technology, and scarcity.

problems of scarcity

what goods and services to produce
how to produce the goods and services
how to distribute the goods and services produced.

allocative efficiency

producing the right goods people want.

technical efficiency

producing the greatest quantity of goods from available resources

equity`

distributes goods in a fair way

contributionary standard

entitled to share of goods based on contribution

needs standard

goods and services provided based on needs of households

equality standard

equal share of goods and services

production possibilities curve

two goods, fixed quantity of goods, used productively, more of one less of other and vice versa, plays into opportunity costs

demand

relationship between the price of a product and the amount customers are willing to buy . willing and able to buy more if product is cheaper.

supply

relationship between price and amount producers are willing to supply

intersection of supply and demand curves

equilibrium. when there’s a surplus producers must lower price

tradition systems

poor third world countries-custom determines production and distribution questions.

command system

central authority (dictator) makes economic decisions.

market system

no central authority, not based on customs. consumers make decisions based on needs, desires, and income. Motivated by profit concerns

capitalism

productive resources owned by private individuals

socialism

productive resources owned by society or by government

circular flow of income model

Most, if not all, people go to work daily to earn a living. The money that is earned is used to purchase goods and services from businesses such as food, clothes, rent, basic commodities, entertainment services, health and wellness products, etc. The income earned daily flows back to businesses continuously in a cycle known as the circular flow of income.

consumer sovereignty

consumers determine what’s produced. Meet consumers tastes or go out of business!

Achieving technical efficiency

struggle for profits equals cutting costs-self interest, not public.

competition

firms must lower costs to compete and produce items in high demand (goods people want)

Achieving re-employment

resources in surplus lower resources prices, leading to re-employment

achieving growth

firms want better products than others, leading to constant growth

market economy and equity

those with money determine patterns of production

role of prices in market economy

expensive prices in demand and scarce, low prices not and plentiful

market economy conditions for allocative (what people want) and technical (maximize resources) efficiency

1) people need adequate information, 2) competition, 3) no externalities (positive and negative effects on third parties) 4) no public goods

government spending

spending on goods and services (battle ship, space shuttle) versus transfer payments (welfare, unemployment compensation)

GDP

good and service produced in country’s borders (quarter or year). Also foreign firms producing in country, excludes US firms producing overseas

intermediate goods

example is tires sold to Ford-final sale is what counts, not tires in process

formula for GDP

consumer spending (70 percent of GDP)+ business investment+government spending+ net exports . Preferred measurement tools for economists

GNP

different from GDP because it includes income earned out of US by US firms and citizens, but reduces foreign firms and citizens in US

technology and productivity

land, capital, labor, and enterpreneurial ability-combined=productive economy.

US largest economy

has growing population, domestic/international capital, tech innovation, resources, and large national market

GDP per captial

GDP divided by people in country.

schools of economic thought

classical (Adam Smith: laissez faire: hands off government, 1700-1930s, combination of self interst, competiton, and supply and demand determines markets, markets correct themselves, labor specialization, SELF INTEREST, ideas led to balanced budgets) and keynesian (John Maynard Keynes, 1930s to 1980s, government needs to help in recession, aggregate demand, increase govt spending to raise GDP, fiscal policy (manipulate taxes and government spending and monetary (manipulate interst rates and money supply to help economy)., people act irrationally, coined term “animal spirits”, booms and busts occur due to peoples irrational decisions, paradox of thrift (when booming- spend too much, when busting-spend to little even thought government needs them to spend) Keynes theories lead to high unemployment/inflation (stagflation)

economic policies since 1980 s

supply side Arthur Laffer-Andrew Mellon similar policies US treatury, reducing taxes on business and wealthy-induce production of goods and services, create more jobs, Reaganomic stimulated the econmies, high budget deficits and national debt, increase in defense spending

business cycle

4 parts. Peak: high point, 2 Contraction declining business activity, trough is low point, expanison is growing busniess, not fixed times. There are seasonal fluctuations (ice cream in summer and toys in winter).

secular trends

growth but unsteady change in the long run

What is money?

exchanged for goods and services, has four functions: medium of exchange (no money=barter economy), unit of value (worth in dollars, not items), store of value (can be put away), standard of deferred payment (payments to be made in future)

liquidity

an asset turned into spendable form

US money supply

M1 currency (coins and paper $), demand deposits (checks in checking accounts in banks), checkable deposits (credit unions) and travelors checks M2 (savings accounts, CDs, money market mutual funds (investment accounts-not protected by government) eurodollars (checking accounts in other countries) M2 not medium of exchange

financial system

financial intermediaries (get many depositors and able to offer loans including banks, unions, loan institutions, etc) assets include reserves loans securities and propert and liabilities include demand deposits, savings, time and other deposits including net worth. Online professional tutoring made easier at www.perfectgrader.com. At www.perfectgrader.com, we offer essay help and writing services tailored to help college students in the United States, Uk, Singapore, Austraria, and many other countries across the globe. www.perfectgrader.com not only helps students through a virtual platform but also provide an array of services for you as the client to converse with your tutor in real-time. Our services include Math help, essay writing services, research paper help and so much more. When it comes to service provision, Acemy-homework.com is an unmatched website. Hire a tutor to get homework and assignment help instantly Register at www.perfectgrader.com today and begin an exciting journey in academic proficiency

reserves

money holdings used to be cashed. reserve holdings is relative to banks deposits.

required reserves

required reserve x deposits

federal reserve system

oversees stability of banking system and try to stimulate economic growth. Consists of 12 regional banks, subregional banks and commecial banks. Created in 1913, privately owned by member banks. 14 year term members appointed by president/congress. chair 4 years.

functions of fed

bank regulation (financially strong banks?)

Federal Deposit insurance

New Deal- guarantees bank deposits if bank fails

open market operations

buying bonds to increase reserves and extends abilitiy for credit and creation of money.

expanding economy

banks hold 50 million excess reserves to use as credit, lower interest rates and standards to attract people. when loans are made money supply expands,

contracting economy

sell bonds to open market. deficient in reserves. Make credit difficult to get. Interest goes up. money supply will fall

physical geograph

natural features of earths surface

population geography

population patterns, birth and death rates.

political geography

national boundaries and relations between states

city populations

san diego 1.3 mill
omaha 400 K
Baltimore: 600 K
Boston 667 K
new York 8.1 mill

Population Growth 1860-2017

every 10 years: up 7, up 12, up 12, up 14, up 16, up 14, up 17, up 9, up 16, up 27 (1960), up 24 (1970), up 23 (1980), up 22 (1990), up 34 (2000), up 26, up 18 (2017). Total growth is x 10.

middle atlantic states

NY WV DE MD NJ and PA industrialized

plains states

SD, ND, NE, KS, MN, IA, MI, WI, IL, MI, IN, OH agriculture of wheat, corn and oats , industrialized and have coal and iron deposits with skilled laborers

south

TX, OK, LA, AR, MI, AL, FL, GA, SC, NC TN, KY, VA, mild weather and good soil growing cotton, corn, tobacco peanuts and rice

Texas

second largest state, large physical regions, 24.3 million, varied

Pacific

Washington, Hawaii, Oregon and Cali, Cali largest population in USA. High in agriculture, OG and WA known for farming. Tourism a major industry

mountain states

MN, ID, WY, NV, UT, CO, AZ, NM Rocky Mountains sparsely populated

New England

MN MA NH Vt, RI, CT fishing,shipping, manufacturing, and dairy farming

Mexico

107 million Mexico City coffee cotton corn sugar cane and rice oil gold silver and gas, textiles steel tourism petrolium

Canada

32 million second largest territory in world. Ottawa

US population

10 times that of Canada

resources of US and Canada

US: coal, copper, gold nickel silver zinc

Canada nickel, gold lead silver zinc

South American population

Argentina 43 mill
Brazil 204 mill (biggest country)
Chile 18 mil
Venezuela 30 mill
Ecuador 16 mill

Central America

long coastline

South America

West Hem, Andes Mountains streth west coast while Amazon north central, also many plateaus, half pop brazil, interior sparsely populated, colombia venezuela guyana and french giana and surname carribean vibe, were planation slaves, immigrants from africa absorbed into culture, amerindian states of ecuador peru bolivia and paraguay, south argentina chile and uruguay strong european influence. Brazil influence of portugal not spain and afro influence, cultural pluralism, exist side by sde more than other places, substinence farming common among minority populations.

Europe

39 states 731 mill people, south europe more populous, transit corridors in east, continuous conflcit do to diverse popuations, balkanization when division and fragmentization occurs

Nordic Europe

poor natural resources, cold climate. Norway fourth richest coutnry in Europe

British Isles

protect it from attack, look outward for needs, was large empire.

west europe

hub of europe and economics

European economy

manufacturing, low level development in the east

location of europ

prime location, led to wide ranging colonial empires

North Africa

sahara desert separates from sub sahara, algeria egtpr librya morocco sudan atlas mountains across moroco, farming base of economy. Nile and valleys provide rich land, cereals rice cotton cedar and cork crops orlives gihs dates and fruits grown here, libya and algeria found oil in 20 centeryEgypt depends on technology.

Russia

largest country. mountains block moderating temps from Indian adn Pacific Oceans, lives west of ural mountains, population is heterogenous, many ethnic groups, multicultural, most of infrastructure lies in east, extensive industrial development, many minerals, fuels, coal reserves and petroleum, coal, Siberia’s resources hard to use as far away, does not export goods. Regions one part of russia look outside russia for help

South Asia

20 percent of world pop, seven states, bang, bhutan, india maldives nepal pakistan and sri lanka, instability, military conflicts,monsoons, monsoons grow jute, tea, rice and vegetables. half pop subsistence agriculture, poverty, poor health, India is heaviest populated place in world, 2,000 ethnic groups,invasions led to similar cultural practices

East Asia

taiwan north korea, south korea mongolia, china and japan, taiwan and nk not considered countries.

appearance of civilization

6000 and 3000 plow, wheel, wind, smelt copper, solar celdnars, cities created, writing started, 3000 bc marks beginning of civilization

Mesopotamia

sumer land of Ur. dikes and resvoirs conferderation of city stes cunieform, babylon made a captial, hammurabi created laws and social class determined crime. assyrians conquered syria palestine and mesopotamia. chaldeans conquered them and jerusalem. cyrus of persians defeated them, persians created road system and gave religion zoroastrianism

Egypt

old kingdom 2600 to 2200 pharaohs were like gods. cap moved to memphis, pyramids of after hyksos invasion new kingdom expanded and invaded palestine and syra enslaved jews, gindle god and closed temples, tutankhamen who followed started pantheism (tolerance of all gods) giza built in 2600 , post empire period was under control of assyrians and persians alexander the great and roman empire made papyrus, med advances, afterlife beliefs

Palestine and Hebrews

present day lebanon, colonies and carthage and spain. Hebrew came to Egypt in 1700 BCE and enslaved, fled Egypt with Moses in 1200 BCE and went to Palestine, Under David, Philistines defeated and capital mdae at Jerusalem, divided into israel 10 and judah 2 , lost tribes disappeared after Assyria conquered in 722. Jews returned in 529 BC. in 300 governed themselves, under romans, autonomy was restricted, jeews lost holy land in 132. Contributed monotheism.

Greece

Homer poems dramatized values. Hesiod works categorized life. Theogony recounted myths, 800-500 BCE Archaic period, city-states. oligrach controled, tyrants replaced them. democratic government replaced them in 500s. Sparta organized Peloponnesian league to fight Athens. Athens= Attica. Draco=strict law. Peisistratus= tyrant 527 bce. Cleisthenes, reform- democratic

5th century greec

persian war, athen delian league, pericles built athens parthenon and buildings, started war with Sparta. Pelopo: athens vs sparta. athen lost, sparta weakened. Alex the Great later conquered them. unified city states started hellenistic age. Revolution in philosphy through plato, aristotle and socrates. Plato’s Republic= ideal state represented. . Greek art individual Euripedes tragedian comedy aristophanes. Greek developed study of history

Hellenistic age and Macedonia

Semibarbaric, large territory, Philip 2 king in 359. conquered city stes athens fell. alex great son killed rivals made empire of syria and persia to india 70 cities and trade network

Rome

founded 753 BC. Etruscans conquered rome in sixth and seventh centuries. Romans kicked them out in sixth entury, made republic, hands of patricians, very powerful. passed to military leader for 80 years. Pompey and Julias powerful. Caesar convinced Pompey and Crassus to form First Triumvirate fought for leadership, civil war followed, caesar was assassinated after he become king. Octavian his nephew followed. Assembly had little power. Cicero opposed Caesar, Roman religion family centered. Octavian became Augustus and introduced coinage, tax collection fire and police protection and land in providences. Pax Romana: Roman Peace: Virgil wrote Aenead, about Rome’s rise. Silver age lasted 14-180 CE. Literature was negative. created civil law, law of people, and natural law. civil war broke after pasx. tax pop heavy attacked many times. COnstantine moved capital to Constantinople. Christianity led to decide. new religion spread in pax, constantine made it legal and national religion, hierarchy developed.

Byzantine Empire

Theodisis divided empire into east and west with his sons ruling. Rome was destroyed, Constantinople became leading city. A rebellion broke out there. Crusaders further weakened them. Finally taken Over by the ottomon empire

Islam in the Middle Ages

Mohammed went to Mecca. Five pillars. Koran has 114 Suras (verse), Mullahs occupy positons of authority, but no hierarchical system. Split between beleivers (Abu Bakr was caliph and was his father in law), Omayyah acaliphs governed after Bakr. They were Shiites, exposed to Hellenic culture, took control of Spain, France, India and parts of China

Feudalism in Japan

Kofun era when started. Nomads started , Heian period-nomadic warriors made themselves land owners and managers of estates. People defended shoen, warriors organized into groups called Bushidan. Warrior clans grew. Kamakura Shogunate started and survived 148 years. provincial governers (shugo) a go between of vassals. Ashikaga Shogunate full blown feudal system. Power returned to emperor during Tokugawa under Meiji Restoration when samarai class privileges were abolished. No longer isolated.

Chinese and Indian Empires

1500 BCE, India ruled by Indo-Aryans, religion god siva, reincarnation, yoga. Indos based on Pantheon of Gods, sacrifices, hymns Vedas, scriptures of Hiduism. Caste system. Feel under Mauryan Empire 3rd century. Asoka buddhist religion. ignored vedic gods and caste, simple life, flourished together Buddhism disappeared in 13th century.

Chinese Yellow River went South. Xia, Shang and Zhou, teachings of Confucius, good order of society. Taoists were different-identified with forces of nature, and did not deal with political affairs.

Sub-Saharan Kingdoms

Nok- Nigeria-peaceful farmers.
Ghana traded with Berber merchants, gave gold to merchants, Mali kingdom conquered them.
Mali huge kingdom on savanna near desrt, Timbuktu in 13th century a cultural place with mosques. Songhai Niger River, independent of Mali. Sunni Ali extended empire. Bantu people lived in chiefdoms, develop own versions of Bantu language.

American Civilizations

Mayans- 3 parts, religious centers deteriorated when Spanish came.

Olmecs high level civilization, built ceremonial calendar and pyramids for religious rites.

Aztecs- human sacrifice of chief god, centralized gov’t, king and big army, builders and engineers, astronomers mathematicians. Incas- Andes area children of sun, sun worshipped, fixed positions in life, people all powerful.

Anasazi- AZ and NM adobe architecture, irrigations etc. Hohokam, separate stone houses in desert southwest

Europe in Antiquity

occupied by Germanic tribes. 476 forced Augustulus to abducate ended power. Fraknish kingdom important staet. Charlemagne founded the Carolingian dynasty. Pope named him emperor of Holy Roman emperor. Manorialism developed during this time due to repeated attacks on the 3 kingdoms of Charlemagne’s sons. self-sufficiency, manor occupied several villages, decentralize political power, peasants bound to land, pope power grew

Holy Roman Empire

five centuries of decline, population doubled, serfs were freed during this time, called enfranchisement. Charlemagne’s grandson was emperor under treaty of Verdun, Franconian dynasty took over, 1214 Magna Carta limited English monarchy, check on royal party began (checks and balances). Muslims conquered Spain in 710. Spain prosperous. 20 muslim states created in 1031CE. Reconquista took control away from Muslims in 1234 (fall of Cordoba). Russia/East Europe not part of Roman Empire. Russia Orthodox, Mongols cut off Russia’s contact with the west for 100 years. Latin used, as weell as vernacular. Dante and Chaucer from this time period. polyphonic music introduced. Romanesque and Gothic Architecture flourished.

Renaissance, Reformation

Suffered Black Death, Italy renaissance started. Monarchs fighting, 100 years war between France and England. England lost continental possessions, Joan of Arc led French to victory. Nationalism grew, peasants taxed heavily. Literature grew, written in Vernacular now. After war, military threats low, Isabela and Ferdinand made Spain strong.

Black Death

brought from Asia. Fleas on rats. 25 to 40 percent of population killed. cities suffered more.

The Renaissance

secular literature grew. Dante Divine Comedy show reason and god must both be combined. Petrarch studied ancient Rome. Leo Davinci, Raphael- The School of Athens, Michelangelo- architecture, sculpture and painting (work called Mannerism), Machiavelli wrote the Prince (politics from expedience (hold power only by acting on self-interest).

reforms

anabaptist baptized again Menno simons early church

Calvin

church and state should be united

Henry VII

dissolve marriage of Catherine of Aragon, transubstanitation (celibacy), church later adopted Anglicanism.

Jesuits

leaders of Protestant reformation, seen as an attack on Roman empire a judgment by god

Wars on religons

Holy Roman empire divided between Gernidand and Philip II. England ruled by two queens. Catholic who killed many protestants, Elizabeth, rituals of catholicism doctrine of catholics. Calvanist stopped reunification of Catholicism in Europe.

England

escape church in England many moved to new world.

explorations and conquests

Portugal-Africa and india in search for gold
Spain-Christopher colombus, new route to india- sent gold and silver to Spain
Swedes, Dutch, English and French also did exploration

mercantilism

wealth measured by commodities, purchase little from enemies, colonies existed for benefit of mother country, great improvements in industry

Bourban France

unquestioned authority. Louix XIV. Peasants 95 percent of popultion. People wanted more power, less tax. Louis 14 wanted changes, granted toleration to French Huguenots (protestants), could not obtain fiscal reform or new laws. French Revolution began

England, Scotland, Ireland

limited or absolute monarchy?

Russia under Muscovites and Romanovs

Ivan the Great ended Mongol domination. Eastern Orthodox church. Ivan the terrible his grandson westernized russia. Opened trade. Michael Romanav became new leader czar for 30 years. Extended to Pacififc. Bible translated into Russian. Peter I helped Russia produce more iron than England. Developed very strong military. Catherine II followed, annexed Crimea and fought with Turkey.

Unification of Italy

mid nineteenth century

Scientific Revolution

no need to secularize science in the nineteenth and twentieth centuries. Age of Enlightenment (secular mindset). man’s intellect apart from God. Empiricists-inductive observation-the scientific method.

baroque and Rococo

granduaer, spaciousness, unity emotional impact, happened in many nations of different religions

influence of enlightenment

Voltaire, Denis Diderot, Baron de Montesquieu, and Jean-Jacques Rousseau. progress met by environment, use reason to reform evils, material leads to moral improvement, inhuman practices removed, human liberty=ability to dictate what was good. impersonal god who didn’t interfere with human lives. political or social contract (locke and Rosseau), limited monarchy sharing power with nobility, start of laissez faire in France, knowledge a result of sensory experiences.

Causes of French revolution

clergy tax exempt, other bore economic burden, Frnech state poorer and relied more on people. election fever happened in France for first time. grain shortage and inflation at this time. reign of terror, campaign against counterrevolutionaries and internal enemies. abolished monarchy. Marie Antonionette and Louis XVI executed. property owners in control. Napolean Bonaparte in control of France from 1799-1804, gave him a large empire. French people viewed him as a tyrant, Napolean exiled Battle of Leipzig. Exiled again after trying to take back power in 1821.

Congress of Vienna

wanted to restore European unity after Napolean. Redraw map. Arrest any threat to peace= Quadruple alliance between Russia, Prussia, Austria and England. Controlled this by Congress of Aix-la-Chapelle, Congress of Troppau, and Congress of Laibach and Congress of Verona

industrial reovulation

Arnold Toynbee named it this, machines replaced humans, gained momentum each decard, not on purpose, helped solidify mercantilism, inventions and technological advances, increase in population from 140 mill to 266 mill, political and social revolutions of various countries, middle class raised up. cotton and metallurgical industries, coal replaced wood, steam engine invented, factory system perfected, canal systems grew, use of steamboat by Robert Fulton grew and railway locomotive by George Stephenson, new fields open for new people no longer in agriculture due to machine production, union helped improve working conditions, wages, and hours first of skilled, then unkilled labor. urbanization began as a result pulling peple from towns.

impact on thought systems around world

romanticism (feelings, beauty and imagination most important topics in art and music), considered revolutionary, focused on idealism, reality based on ideas, not materialism, impersonal god, convervatism (support for restored monarchies, peasants, tradtional ruling classes, liberalism was freedom and well-being are reason we are alive, close to Enlightenment advocated for laissez-faire by Adam SMith, Wealth of Nations. nationalism arose from liberal thought.

socialism

distribution of wealth is equal, created by Karl Marx a German scholar, his ideas were 1)all human history has been determined by econmoic factors, class struggle between rich and poor, 3) value of a product is labor, worker received small value, stolen from capitalist, 4) problems with capitalism (unemployment, overproduction). class difference would be large and lower class would overthrow creating a classless society.

The Revolutionary Tradition

nations and people wanted to be included in society. discontent grew from increase in poulation and industrailsm and urbaniation. 1848 is the year of change. food shortages, financial crises, busniess failure, unemploiyment, wages diminished, poor living conditions, nationalism very strong. French revolution led to many other world revolutions.

Victorian Compromise

Queen Victoria succeeded king William, liberal reform of British government. alliance between middle class and aristorcracy from keeping working class from political power, abolished slvary 1833, factory act employemnet under age 9. Municipal reform gave control of cities to middle class. 1848 revolutions unsuccessful. Realpolitik or realistic and iron fisted politics and diplomacy followed (Otto Van Bismark)

Realpolitic and Triumph of Nationalism

Camillo de cacour Giuseeppe Garibaldi, Victor Emmanuel realpolitik leaders, formation of italy-when one government deals straightforwardly with another government in order to meet goals

Bismark

advocate for Prussian based Germany. Defeated Denmark to give up territory under Treaty of Vienna. War over France and Germany brewing. Prussians beat French. Treaty of Frankfurt concluded the war France gave up territory. German Emprie began Jaunary 1871. Wilhelm emperor, Bismarck, Chancellor.

Crimean War

over groups of Christians over holy land. Palestine part of Turkish empire, gave enclaves to Roman Catholics with French. Orthodox already had rights, war between Turks and Russians transpired. Peace of Paris ruled in Turks favor and Russia had several punishments.

Congress of Berlin

The Congress of Berlin (13 June - 13 July 1878) was a meeting of the representatives of six great powers of the time (Russia, Great Britain, France, Austria-Hungary, Italy and Germany),[1] the Ottoman Empire and four Balkan states (Greece, Serbia, Romania and Montenegro). It aimed at determining the territories of the states in the Balkan peninsula following the Russo-Turkish War of 1877-78 and signing of the Treaty of Berlin, which replaced the preliminary Treaty of San Stefano
German Chancellor Otto von Bismarck, who led the Congress, undertook to stabilise the Balkans, recognise the reduced power of the Ottoman Empire and balance the distinct interests of Britain, Russia and Austria-Hungary. At the same time, he tried to diminish Russian gains in the region and to prevent the rise of a Greater Bulgaria. As a result, Ottoman lands in Europe declined sharply, Bulgaria was established as an independent principality inside the Ottoman Empire, Eastern Rumelia was restored to the Turks under a special administration and the region of Macedonia was returned outright to the Turks, who promised reform

Emergence of New Left

Marx ideas reigned after failed revolutions in 1848. Writings include Communist Manifesto, Critique of Political Economy, and Capital.

UK leaders: William Gladstone vs. Benjamin Disraeli

Gladstone: Irish home rule, fiscal responsibility, free trade, democratic principles, limit imperialism, opposed decentralization of British government. Disraeli: aggreesive foreign policy, expansion of empire, opposed democratic reforms

Imperial Russia

Kept Polish under control. Nicholas I died, Alexander II followed. Declared serfdom, people had movement and could change means of livelihodd, serfs could own proeprty. People tried assassinating czar, populists grew, wanted reforms. Wanted realism, as written about by Ivan Turgenev in Fathers and Sons. Populists orignally wanted agrarian utopian order, Three leaders held power oppositon grew strong. Russian social democrats and russian social revolutionaries were marxist vladimir lenin leader of bolshekis was part of social democrats, group submitted list of grievance to czar, but military killed them on Bloody Sunday. Made reforms consititutional democrats wanted even more reforms. Nicholas 2 recovered government until 1909 until the war.

New imperialism

external markets, foreign investment=high returns,raw materials needed, missionary practices, asserting power by controlling colonies, Africa was focus, focus on greatness of Africa south of the Sahara. British=suez canal, Zulu war, Boers regained it in victory of Majuba Hill. Belgium=Congo, France=Tunisia, French Equitorial Africa, Italy=east africa. Germany= Cameroons, Togoland, German South West Africac. Berlin Conference: Gongo=Belgium, 2)liberal use of Niger and Congo Rivers, 3) European Powers could acquire territory through occupation. Conlfict between Boers and British. Gold discovered. Boers restircted politcal and economics rights of British settlers, Boer war started, Britain won. Interest also in Pacific. Naval officer Alfred Thayer Mahan Influence of Sea Power Upon History, nations controlling seas previaled, Germany and US very active there, US took Philippines in 1898. Rivalry over China led to Russo Japanese War in 1904.

Bismarck Age

strong united German state, able to defend itself, monetary system unified. created laws to provide social security, regulate chld labor, and improve working conditions of Germans. Wanted to isolate France. Fought with Russia by putting an embargo on beef after famine. Bismarck dismissed by Wilhelm 2 the leader at the time for his policies.

Democracy in Western Europe

Britain democracy grew, Pariliament Act of 1911, House of Commons national power. Problem with Ireland who grew economically, Protestants against it.

Third French Republic

II collapsed by Prussian Armies. Napolean 3 captured, fled to England.Radical entity aParis Commune came into existance, extraordinary power, led by radical Marissts, repudiated conservatiove and monarchist leadership of narional assemly and get French glory. National assembly wanted to get in order, make consitutional government, remove troops from Frnech lands, Dreyfus affair, classified info given to Germans, a Jew blamed, led to anti-semitism, turned out he was innoced, catholics and monarchists willing to support claims against innocent man. French republic supported by citizens

tensions of Imperialism

Fashoda Crisis, Moroccan Crisis, Balkan Crisis, Agadir Crisis, Ottoman empire falling apart, Austria took land, Britain angered, Archduke Franz Ferdinand of Austro-Hungarian throne killed, Serbian and Austria went to war, Britain France and Russia at war to Germany and Austro-Hungary, other nations joined.

Origins of WWI

Modern Germany one problem, destroyed balance of power, Germany maintained this by Dreikaiserbund (league of three emperors), and dual and triple alliances, Triple Entente of England, France and Russia drew them closer, arms race between Germany and England. Colonies in Africa and Asia another proble. Nationalism strong. Unable Balkans, ethnic nationalism grew there from deterioration of Ottoman Empire, rivalry between Austria Hungary and Russia for spheres of Influence. Russia mobilized and Germans saw it as an act of war. Schlieffen plan a two front war on Russia and France. Russia would not mobilize, so Germany declared war. Other countries like Japan and USA joined.

1914

Germans entered Blegium, then France, Russia attacked them, Germany had to divide its resources. Battle of the Marne, created a battlefront determining demarcation of western front. Textile center Lodz in German hands

1915

Western Front: Italy joined Allies signing secret treaty of London, gave them Austrian providences and Turkish territory. Eastern Front: Russian Poland was in German hands.

1916

Battle of Verdun Germans and French, French lost 300,000 lives but defended their position. In 1914 Germany lost domination of seas. Germany sunk British vessel called Lusitania.

German u-Boats

German u-boats very effective. protect coast. Began using air raids on both sides (machine guns shooting out of plans at the enemy). Began secretly using illegal chemical warfare against each other.

Russian Revolution 1917

riots of citizens from the war. Romanav dynasty ended after Duma encouraged czar to abdicate the throne due to civil unrest. Lenin and Trotsky enocraged people to take the city transportation and community centers in Petrograd. Decrees made on peace bread and land, soviets left war signed treaty at Brest-Litovsk in 1918. US hoped only to supply naval and economic support but had to get fully involved. lost territory and 62 million people. Land lost to Austria Hungary and Germany. November 11, 1918 war ended.

Paris Peace Conference

determine peace agreements after war. italy france UK and us known as big four.

treaty of versailles

Germany took blame for war.
no u-boats, no modern weapons, army restricted
6.6 billion pounds in war reparations, Germany lost national territory, lost Chinese ports

treaties with germanies allies

Austria gave up territory to italy, and new states of Czech, Poland, and Yugoslavia.

Weimar Germany (1918-1919)

forced creation of German republic after war.
threats of revolution after temp government instituted.
Aug 11, 1919-new bicameral legislature began. war reps. handicapped government, inflation rampant, printed useless money made allies more sympathetic. six chancellors over 4 year period. 350 political murders due to discontent. New leader was war hero Paul von Hindenburg, chancellor was Hermann Muller

Mossolini

Feeding off war vets, nationalists pissed off, and fearful of communism, Mussolini got support. showed he alone could bring peace and prosperity. king of italy asked Mossolini to become Premier of Italy for fear there’d be an uprising. began arresting opponents, closing newspapers, and civil liberties taken away, death penalty for speaking out against king, greatly increased power

Italian Foreign Policy

wanted normalcy, did not get what it wanted a Paris Peace Conference, took over Corfu when Italian was killed settling a Greek-Albanian border dispute. Took over Fiume, Croatia on Adriatic

Soviet Russia

Trotsky put down a naval rebellion in 1921, Lenin died 1924. Stalin took over organizations, Poliiburo, Orgburo, Inspectorare Commissariat, Secretariat. Trotsy was chairman of Petrograd Soveit, brusque and overbearing. Soviet helps China found Chinese Communist party. Chiang Kai-shek mistrustful of the communists. Soviets wanted to coordinate revolutionary commuist ideas, organized by Stalin in 1928.

Dictatorship in Europe

25 percent of labor force unemployment in UK, 1.7 mill to 3 mill. Budget cuts and tax increases. Government fell in 1933.

National Government in UK

MacDonald Labor govt made coalition suggested by king George, abandoned gold standard and adopted tariffs on imports. unemployment dropped to 2 million. Stanley Baldwin followed him.

Frances troubles

radical groups arose. socialists wanted nationalization, radicalists wanted to reduce gov’t spending

Germany: The Depression

income dropped 20 percent, 43 percent of workforce without jobs. Adolf Hitler joined German workers party or NAZIs. had 25 point plan. Marched on Berlin and Munich to seize power. Dictated Mein Kampf to Rudolf Hess while in jail. after failing realized he needed to come to power in a more legit way. in 1932 only got 30 percent of vote. Ended up becoming chancellor. Dissolved the Reichtag (parliament). Civil and Press liberties as a move against communism. Brought all agencies under his control, took non aryans and nazi opponetns from civil service, court systems and higher education. illegal strikes, labor unions, and forced people to join German Lagor Front. Gestago created who operated concentration camps. Nazi started 1933. Nuremburg laws- outlawed Jewish citizenship, outlawed sexual and marital relationsh bt Jews/Germans. Quit league of Nations. Would not be bound by treaty of Versailles military restrictions, created army of 500,000

Italy’s depression

pope prisoner in Vatican. Italy rec vaican as an independent state, catholicism state religion, teaching it in schools. Created protestive bond with Austria and Hungary. Italy France and England met after Germany’s rearmament policy. Ethiopia area of interest. joined league of nations in 1923. Mussolini made military base there. Edopted economic sanctions when Italy invaded. Annexed country joining Somalia and Eritrea

Five year plan

from 1933-37, Soviet Russia leading industrial power, gave up quality for quanitity, social and econmic discord, NKYD secret police violent purge eradicated 70 percent of central committee. 8 to 9 million in camps/prisons, in 1934 joined league of nations. Allied against facism.

International developments (1918-35)

league was for international friendship peace, and security. Agreed to avoid war, maintain peaceful relations, and honor international law. Started in Geneva at Treaty of Versailles, 1919. suggested economic sanctions if member breaks rules.

Locarno Pact (1925)

guaranteed Germany’s west border and demilitarized zones. Went into play when joined league of nations in 1926. Gave support for Austria’s independence.

The Pact of Paris (Kellogg-Briand pact)

period of diplomatic friendship. 65 countries signed Kellogg-Briand Pact which renounced war as a means of solving international differences. No way to enforce it, therefore was useless

Japan

Kwantung army conquered Manchuria, Japan resigned from league in 1933 when English created a investigatory commission of their actions. .

World War II to Post Communist Era

Hitler reccupied Rhineland, France and Britain not willing to oppose moves. Spanish Civil War angered ppl bc land reform and legislation against catholic church, right wing general started military insurrection, Francisco Franco emerged as leader, became devastating civil war. Democracies (neutrality), Germany and Italy intervened, seen as a defeat for anti-fascists. When Central powers made an alliance. Rome-Berlin Axis. Annexed Austria. Demanded control of Czech defensive boundary by Germany. Seized Czech, Italy seized Albania. Surprise 1939 Nazi-Soviet Pact of Friendship. German invasion of Poland 1939 began war. Russia promised to stay neutral in pact after receiving many new lands. Finland and Russia go to war, Finland must give up lands after losing near Leningrad. War began as germany attacked poland on east, sept 3 1939. France, Belgium and Netherlands all fell to Germans. Began exporting Jews to concentration camps and putting Jews to work in war factories. Nobody knew atrocities until after war in 1945 when Allies surveyed camps. Hilter tried to invade England operation sea lion. invasion of Russia began 1941. Russian efforts saved the capital. Japan and China started war in Beijing. US and Russia opposed expansion. attacked a peral harbor, japan gained naval bases in pcific led to US being in total war after Japan’s allies declared war on US. Germans attacked Russia by Caucaus and vital oil eilds, Germans were surrounded and stopped.

Lend-Lease

support militarily for Soviet union’s efforts in the WWII

Italian invasion

invaded British based Egypt. Germans sent support, US and UK managed to force them to surrender after pushing them to the border with Tunisia

Ally invention

shipped routes needed to Britain. new aircraft, vessesl, radar and sonar deterction, radio direction finding, deciphering German signals, etc, helped fight Germany and made Atlantic very dangerous.

1943

victory in Stalingrad, North Africa and Battle of Atlantic helped become turning point for allies in war. planned on freeing italy and sicily of german occupation. Italians invaded British Egypt Brits and US won.

leaders at time of WWII

Churchhill and Roosevelt

Casabalnca

a plan to invade Itlay and Sicily, annouced thatunconditional surrender of axis power requred, they could help rebuild countries taken by Germanss

Teheran Congerence

invade France with Stalin operating another offensive

Normandy invasion

largest operation in history-1,000,000 people, seized France, Allied armies now surrounding east and west of Germany.

Invason of poland

made allies question Soviet Unions motives

1944

Balkans outpost for Germans began collapsing. Red Army arrived Romania, King Michael withdrew alliance with Germany, Bulgaria changed sides too, Germans left Greece.

1945

Americans crossed Rhine. Attacked by troops on both sides, Hitler committed suicide. General Alfred Jodl surrendered. (Churchvill, Stalin and Roosevelt Big 3) Yalta conference. divide germany into zones of occupation, Berlin on Russia’s side divided into four zones

Potsdam declaration

caleld for Japanese surrender. August 1945 bomb dropped in Hiroshima, 70,000 lives lost. Radiation poisoning. Nagasaki bombed also, Hirohito remained emperor after surrender.

Europe After WWII

demilitarization of Germany…United Nations Organization began, regulate internaila relations and keep peace. Italy, Hungary, Bulgaria, and Finland had to pay war reparations.

differences between parliament and congress

congress more personalist, parliament is through party efforts C D A A B D B C A D C D D B B B B C B C

HOP centralized

late 1800s and early 1900s, power was centralized in hands of speaker of houses

HOP more powerful than senate

early 1800s, leadership centralized under House Speaker Henry Clay

powerful leaders in senate

majority and minority leaders

number of bureaucrats in US govt

has not grown but power has grown

how a country encourages politlca leadership

recruitment of elites

deterrance in nuclear age

strategists perspective-concerned with deterrance, importance of weapon systems, maximize national security, minimize possibility of nuclear war

scholar theory of arms races

Middle range theory - theory of arms races, war and peace, escalation of violence processes, relations between prejudice and national hostility

level of measurement for discreet categories for data

nominal

ordinal categorization example

…

procedures repeatable, yield same readings

reliability

stratified sampling

random sample proportionate to size of sampling unit.

22nd amendment

no one shall be elected more than twice

conflictual political culture

citizens have conflicting views about how government should be run

wealth of nations Adam Smith

specialize and trade-world wealth is enhanced.

effect of buying bonds

buying 10 million in bonds equal to printing 10 million, both “new money”

capital to output ratio

should decrease in order to lead to economic growth

Treasury and Feds at odds with each other

Treasury needs to borrow to finance a debt, and wants low interest rates, but monetary restraint is at odds with this goal.

purchase of bonds by Federal Reserve Bank

increases money supply, because they say for them with money that increases money supply

investment of human capital

expenditures to increase an individual’s earning power, such as money spent to get an education

san diego

third largest city followed by New York and Houston

increase in pop from 1970 to 80

20,000,000

population of US

steadily increased

Mexico natural resources

oil, gold, gas, silver

Canada

2nd largest territory

banana

major crop in South America

climate

overall condition over a period of time

Renaissance Humanism threat

return to original sources of Christianity

Defense of Seven Sacraments

Henry 8 position on seven Sacraments and how it led to salvation

Erasmus of Rotterdam

Praise of Folly critized ambitions of church clergy

Thomas More

Utopia- perfect imaginary world.

six articles of faith

Henrican reaffirmation of catholic theology

Thomas Cranmer

author of forty-two articles of faith protestant doctrines

Peace of Ausburg

religion of leader equaled religion of people.

calvanism

recognized in the peace of Westphalia

Charlees V and papacy

negotiated peace of Ausburg

Price revolution of 16th century

importation of silver and gold into european economy

peace of westphalia

recognized indepedence of Switzerland and Netherlands

counterreformation

not willing to negotiate on issues of theology

sir isacc

Principia 1687 scientism as credible alternative of other methods

Louis VIII

Richelieu was prime minister for him in thirty years war and la rochelle crisis with Hugeunots

Peter the Great

overthrew his sister Sophia

Edict of Fontainbleau

edict of Nantes-Henr IV had to extend religious liberties to French Protestants.

Peter the Greats foreign policy achievement

acquisition of ports on Baltic Sea

Hitler

Greatly reduced unemployment!

St Barthelemeaus Day

murder by catholics of French Huguenots (Calvinist Protestants)

proposal for French government to model after Englands

Montesqueiu in The Spirit of the laws

French Revolution order

Legislative Assembly, Convention, Directory

Thomas Hobbes’ Enlightenment thinker

Voltaire-best form of government despotism (absolute power), government rules people.

Frederick the Great of Prussia

Interested in enlightened government and had a wide range of reforms (censorship, improved edu, etc)

Peterloo Massacre

peaceful protest in England when few people had right to vote-Lord Liverpool passed the Six Acts measures forbiding people from meeting for purposes of governmental reform in 1819

Factory Act of 1833

Alleviated some of the abuses of child labor in the textile industry

anglo-French entente

resolved Anglo-French colonial disputes in Egypt and Morocco-Northeast Africa British, Northwest French.

William Wilberforce

wanted to set slaves free and end the slave trade.

English Utilitarianism

the greatest good for the greatest number.-Bentham, Mill and Stuart

bullionism

economic health of a nation based on quantity of gold and silver-associated with mercantilism and need to maintain a favorable balance of trade

Irish home rule

Irish to rule themselves- Gladstone proposed three times and repeatedly unsuccessful

Balfour declaration

British support for a state for the Jewish people in Israel

Boulanger Crisis

caused by right wing sceme to overthrow the third French Republic and install Geroges Boulanger as leader-supported by onarchists and other rightist enemies of the republic

Elizabeth I plots

Babington plan to assassinate, throckmorton to cut off communication, Ridolfi to assassinate and replace with Mary, Queen of the Scots

Wisbech stirs

quarrel between English Roman Catholic clergy held prisonertowards the end of the reign of Elizabeth I of England. It set the regular clergy represented by the Society of Jesus, who wished for a more ordered communal life in the prison, against some of the secular clergy.

partition of Africa

1914

baroque

Michel de Montaigne was representative of an intellectual movment known as baroque which was a quest for a new synthesis

Hundred Days

Napolean’s failed attempt to restore himself as leader.

Berlin Blockade

response to unification of British, French and America zones in West Germany

heptarchy in Anglo-Saxon states

seven states which were autonomous including Essex, Wessex, Sussex. Kent, East Anglia, Mercia, and Northumbria

Realistic-Nominalist Controversy

Adelard, Lombard and Magnus were part of this, initiated over Plato’s doctrine of ideas. Was truth obtained through reason reconcilible with truth from revelation.

delian league

escabished in 477 nc after war with Persia. Intended to defend itself against Persia. Later viewed as an Athenian attempt to dominate the Greek world (they grew very rich), defend against crisis of Persian aggression

2nd century Rome

Populares (people’s party), Equites (rich knights), Optimates (best men)-political and economic noble class

1190

Third Crusade, Holy Roman Empire experienced no crusades

Hellenic Kingdoms

Seleucid Asia, Ptolemaic Egypt, Antigonid Macedonia

Kansas-Nebraska

led to formation of Republican Party

US aided Great Britain in WWI

selling destroyers, US navy patrolling atlantic waters, lend-lease act

Thomas Nast

political cartoonist calling out Boss Tweed

Stamp Act Congress

first opportunity for states to meet each other

Compromise of 1850

The south gained by the strengthening of the fugitive slave law, the north gained a new free state, California. Texas lost territory but was compensated with 10 million dollars to pay for its debt. Slave trade was prohibited in Washington DC, but slavery was not.

Kansas-Nebraska Popular Sovereignty

Territory north of the sacred 36°30′ line was now open to popular sovereignty. The North was outraged. The Kansas-Nebraska act made it possible for the Kansas and Nebraska territories (shown in orange) to open to slavery. The Missouri Compromise had prevented this from happening since 1820.

Missouri Compromise

The measures provided for the admission of Maine as a free state along with Missouri as a slave state, thus maintaining the balance of power between North and South in the United States Senate. As part of the compromise, slavery was prohibited north of the 36°30′ parallel, excluding Missouri. President James Monroe signed the legislation on March 6, 1820.[1]

Emanicipation Proclamation

When Lincoln issued the preliminary Emancipation Proclamation in September 1862, England had been threatening to intervene in the American Civil War for over a year. Lincoln’s intent to issue the final document on January 1, 1863, effectively prevented England, which had abolished slavery in its own territories, from stepping into the U.S. conflict.

Hoover during the Great Depression

desired localism and private initiative rather than gov’t intervention, urged nations business leaders to maintain wages and employement, strategy in the end was a failure.

Hiss and Chambers

Hiss accused by Chambers and convicted of perjury for denying under oath he was a communist agent.

Martin Luther King’s strategy

civil disobedience

Cuban Missile Resolution

Soviets remove missiles, and Americans agree not to invade.

blacks resistance to slavery

minor offences like slowing pace of work or breaking tools…uncommon for Underground Railroad, arson, or violent uprisings

populist movement

free silver

Hobbes Leviathian

war of all against all-State of nature-people are politary, poor, nasty, brutish and short

Weapons by confederates

there was no shortage of weapons, but north cut off transportation system at one point that severe shortages of ammunition and weapons developed

Czar’s October manifesto

promised a duma, civil liberties, a Russian parliament, and political forms, but not democratic voting system.

Berlin Wall

built in 1961 and torn down in 1989. Kennedy spoke against it in 1963

Thirty Years war

When catholic forces from southern germany and austria were close to pushing lutheran forces into the baltic sea, the lutheran convert Gustavus Adolphus of Swedwen intervened helping the Lutheran cause

effect of industrial revolution

speed rather than quality of work

1914 indepedent African states

Ethiopia and Liberia, Algeria-france, congo-belgium, angola- portuguese, egypt- British

1930s and 1940s opposing thought of Maynard keyes

Friedrich Hayek

four basic economic activities

production, distribution, manufacturing, service (labor is used in all four activities)

Lincoln’s reelection

Sherman and his men had started a campaign that culminated in the capture of Atlanta on Sept. 2, a victory that probably clinched President Abraham Lincoln’s re-election. But their most recent accomplishments were the destruction and civilian depopulation of Atlanta and other North Georgia towns. Under Sherman’s orders, by the end of September nearly all of Atlanta’s residents had been forcibly removed, although most had no place to go.

Hostage situation

caused because Carter let Shah who was exiled come to USA for cancer treatment on humanitarian grounds. Looked like Americans still supported Shah’s regime.

Cape to Cairo railway

UK proposed this idea as their territories were in Egypt and South Africa

Himilayas

doesn’t go through Bangladesh

slave trade

first banned by Denmark, Britain, Holland, France, then Spain and Portugal

GNP

total goods and services in a year

Office of Management and Budget

makes budget for president to submit to congress.

mark-up sessions

occur in committees and subcommittees

Theodore Roosevelt

big stick policy diplomacy

Newburgh conspiracy

worries at end of revolutionary war that continental congress would disband military without paying their pensions

electric motor not part of industrial rev

Steam and waterpower drove the early machines and the mechanized looms of the Industrial Revolution, and so choice (B) is an important part of that event. Choice (E) is unhistorical, since the electric motor was developed after the First Industrial Revolution; the electricity was often produced by a steam engine. The spinning jenny and flying shuttle were involved in the production of thread and cloth, while the Bessemer process was involved in the production of steel.

19th century liberalist mill

E)Although he was not typical of nineteenth-century liberalism in every respect “” he favored the unions as a means of helping the working class, for example “” John Stuart Mill wrote extensively on politics and is generally considered the most notable nineteenth-century liberal writer. His On Liberty (1859) is one of the most famous defenses of individual rights. The other choices may be quickly eliminated if the identity of the individuals involved is known. As the leader of the British Conservative party in the second half of the nineteenth century, Disraeli opposed many liberal programs. Napoleon III, emperor of France during the 1850s and 1860s, worked to limit one of the major liberal goals, the achievement of true parliamentary government in France. The other choices list lesser-known individuals but are also incorrect. Proudhon was the most famous anarchist of the first half of the nineteenth century, while Fourier was one of the best-known Utopian Socialists of the same period.

1956 attack of Egypt

France and Britain over control of Suez canal

Industrial Revolution

led to Glorious, French and American revolutions, with creation of James Watt’s steam engine

First people to circumnavigate globe

Ferdinand Magellan’s Crew (he was killed in the Philippines) from Portugal in 1521.

Articles of Confederation

unicameral

executive privilege

right to withhold information from congress and the public in case of US vs. Nixon

pork barrel legislation

Special spending projects sponsored by members of Congress for their home states or districts are known as pork barrel legislation

filibuster

attempt in the Senate to talk a bill to death by preventing it from coming up for a vote.

logrolling

used to designate vote-swapping by members of Congress for special projects. (I’ll vote for your bill if you vote for my bill

Glorious Revolution

James the 2nd assumed Charles’ power. James was catholic, English wanted Protestant. Promised to keep status quo (dissolved parliament). English had laws against catholics, James used dispensing power and appointed catholic supporters to high position. Parliament and bishops angry. James suddenly had a son suddenly James Edward Stuart. He would be Catholic. Angered took action. Wrote a letter to dutch head of state who would invade England, wanted to restore protestantism and free elections . Government split-have to keep have to exclude James from being leader. His successor was a protestant in Dutch. Holy Roman Empire promised to protect Dutch Republic so he left for England. William and Mary were crowned after he left. Passed bill of rights. no more absolute monarchy, banned catholics from inheriting throne, Louis 14 opposed to invasion, started the 9 years war. Irish also supported James so they started rebelling against william’s rule. James came back to retake thrown, but with Wilhelms popular support defeated James. People still felt James had right to thrown, led to two additional wars.

elitist view of politics

stresses that the policy-making process is dominated by a small, unrepresentative minority. In The Power Elite, published in 1956, the American sociologist C. Wright Mills argued that corporate leaders, top military officers, and key political leaders dominated American politics.

FDR good neighbor

retreat from the military interventionism and blatant economic domination which had characterized previous American policy toward Latin America, create new free trade opportunities for America, ends when Yalta conference begins and US realizes communism is a threat.

Monroe Doctrine

US beginning to industrialize, new markets and want Latin America to be our territory and keep west europe out of American colonialism.

All-African People’s Conference

In December 1958, Kwame Nkrumah invited representatives from nationalist movements in 28 territories still under colonial rule to meet in Accra for the first. Nkrumah had often stated that once Ghana attained independence, it would be his goal to lead the rest of the African continent to freedom and unity. Ghana achieved independence on March 6, 1957, and he attempted to fulfill the second part of his objective the next year in 1958.

Chinese dynasty ended

1911

The Republican Party, formed in Ripon, Wisconsin in 1854, developed a party platform that included support for a movement advocating

In 1846, a Pennsylvania congressman named David Wilmot proposed a bill that prohibited slavery in any territory acquired from Mexico, and this concept soon became known as “free soil.” In 1854, as the Whig Party was collapsing over its inability to come to terms with the Kansas-Nebraska Act, the Republican Party was formed with former Whigs, northern Democrats, and members of the short-lived Free Soil Party.

NAFTA

Mexico City is biggest city by far.

Presidents limit of powers

CAN NOT introduce legislation in either house of congress.

1. He is directly elected by people.
2. Presidential powers expanded in Korematsu vs. USA
3. High public ratings=legislation pushed through congress.
4. Has veto power

civil servants can resist presidential initiatives because

Nearly all civil servants have jobs that are, practically speaking, beyond reach of the president. The only reasons for which a federal civil servant can be fired are misconduct or poor performance, and then only if the person’s supervisor is willing to invest a great deal of time and effort. Civil servants cannot be fired for political reasons. This gives civil servants the opportunity to thwart or delay presidential initiatives by half-hearted compliance or passive noncompliance with presidential directives.

Gramm-Rudman Act

In 1985, Congress passed act with the intent to balance the federal budget by 1992. The law created a plan whereby the budget deficit for each year from 1986 through 1991 could not exceed a specified, declining amount

FDIC or federal bank account insurance

was part of the New Deal to restore confidence in banks, not stocks.

“I think, therefore I am”

Descartes: searches for absolute certainty by using a method of systematic doubt. Rejecting the certainty of all knowledge but the knowledge that a thinking process was occurring, he believed that he had established one certain fact his own existence. Rules for the Direction of the Mind is his book. Only follows logic, NOT god. Also wrote Discourse of the Method.

intendants

their work to strengthen the French absolute monarchs, royal ministers Cardinals Mazarin and Richelieu placed government agent in areas throughout France, where they acted as both the “king’s ears”

Swahili word

ujamaa means socialism

Yellow River

about 2,700 miles long, runs west to east across China, bringing in the summer heavy deposits of yellow silt which give the river its name. The river enters the Pacific Ocean near the Shandong Peninsula. The nickname “China’s Sorrow”
Score Overview
Multiple Choice Section
Your AnswerCorrect Answer

parts of the political system in the United States utilize laws and bureaucratic rules to define who has what kind of power and authority over whom

legal-rational: type of authority based on rules and laws.

characterizing economy over last few decades

Union membership peaked in the 1950s at 35 percent of the workforce and has declined steadily to about 13.5 percent today. (A) is wrong because corporate concentration has become even greater than a few decades ago. (B) is wrong because market forces are at least as powerful as a few decades ago. (C) is incorrect because the economic sphere is probably more important to the power elite than in the past. (E) is wrong because the industrial sector has been declining as a proportion of the economy.

excellent harbors

Despite its extensive coastline, Sub-Saharan Africa doesn’t have this, which can be defined as a natural body of water that has: (1) a sufficient depth to allow large ships to anchor there; and (2) strong protection in the form of a land mass.

Hamilton’s efforts

number of important steps, including establishing a national bank, assuming state and national debt, creating a tariff and a whiskey tax, and establishing a patent office. He did not, however, put the U.S. currency on any type of gold standard.

Order of Revolutions

The Glorious Revolution was initiated in 1688-89, the French Revolution in 1789, the Russian Revolution in 1917, and the Iranian (Islamic) Revolution in 1978-79

In a single-member district, plurality vote system

the candidate with the most votes represents the district.

Democratic National Party Convention does not

selects the state party chairmen, states do that.

It determines the national party platform.
It nominates the party’s candidate for president.
It has “super delegates”
It sets the time and place for the next national convention.

paternalist view of slavery

slavery was necessary to protect blacks from the mistreatment and abuse they would receive if they were freed. blacks were inferior, mentally weak and ignorant, requiring “protection”

Huckleberry Finn

Realism

Britain’s empire

Anglo-Egyptian Sudan (Sudan)
Basutoland (Lesotho)
Balleland (Benin)
Bechuanaland (Botswana)
British East Africa (Kenya)
British Somaliland (northern Somalia)
British Togoland (eastern Ghana)
British Cameroons (split between Nigeria and Cameroon)
British Egypt
Khedivate of Egypt
Sultanate of Egypt
Kingdom of Egypt
Gambia Colony and Protectorate
Gold Coast (Ghana)
Colonial Nigeria
Niger Coast Protectorate
Northern Nigeria Protectorate
Southern Nigeria Protectorate
Colony and Protectorate of Nigeria
Northern Rhodesia (Zambia)
Nyasaland (Malawi)
Sierra Leone Colony and Protectorate
South Africa
British Cape Colony
Colony of Natal
Orange Free State
Transvaal Colony
South-West Africa (Namibia)
Walvis Bay
Southern Rhodesia (Zimbabwe)
Swaziland
Tanganyika Territory (mainland Tanzania)
Uganda Protectorate
Sultanate of Zanzibar (insular Tanzania)

France

France
Albreda (in Gambia)
Dahomey (Benin)
French Algeria
French Cameroons (91% of modern Cameroon)
French Chad
French Congo (Republic of Congo)
French Guinea (Guinea)
French Upper Volta (Republic of Upper Volta, Burkina Faso)
French Somaliland (Djibouti)
French Sudan (Mali)
French Togoland (Togo)
Gabon
Ivory Coast (Côte d’Ivoire)
Malagasy Protectorate
Colonial Mauritania
French protectorate in Morocco (89% of Morocco)
Niger
Oubangui-Chari (Central African Republic)
Senegambia and Niger(
Upper Senegal and Niger
Colony of Niger
French protectorate of Tunisia

Germany

German East Africa (Burundi, Rwanda, Tanzania)
German South-West Africa (Namibia)
Kamerun (split between Cameroon and Nigeria)
Togoland (split between Togo and Ghana)
Wituland

Italy

Italian East Africa
Italian Ethiopia
Italian Eritrea
Italian Somaliland
Italian Libya

Portugal

Ajuda (Whydah, in Benin)
Angola
Annobon
Cabinda
Cape Verde
Ceuta
Gorée (in Senegal)
Malindi
Mombasa
Algarve Ultramar (Morocco)
Agadir
Alcacer Ceguer
Arzila
Azamor
Mazagan
Mogador
Safim
Nigeria (Lagos area)
Mozambique
Portuguese Gold Coast (settlements along coast of Ghana)
Portuguese Guinea (Guinea-Bissau)
Quíloa
São Tomé and Príncipe
Tangier
Zanzibar
Ziguinchor

Spain

Bona
Bougie
Jerba
Fernando Po and Annobon (insular Equatorial Guinea)
Oran
Port Guinea
Rio Muni (mainland Equatorial Guinea)
Spanish North Africa
Spanish Protectorate in Morocco
Spanish West Africa

Nethrerlands

Arguin Island (in Mauritania)
Dutch Cape Colony
Dutch Gold Coast (settlements along coast of Ghana, including El Mina)
Dutch Loango-Angola (Luanda, Sonyo and Cabinda)
Gorée (Senegal)
Moçambique (Delagoa Bay)
São Tomé
South Africa

Belgium

Belgian Congo (Democratic Republic of the Congo)
Lado Enclave
Ruanda-Urundi (Rwanda and Burundi)

Bangladesh

Became a nation on March 26, 1971.

Williams Jennings Bryan Cross of Gold Speech

a staunch defender of farmers’ rights, delivered his “Cross of Gold” speech to a somewhat desperate Democratic Party, which had been searching for an identity after being blamed for the Panic of 1893. A key political issue of the day was whether the U.S. currency should be backed by silver or gold. Whereas most Republicans favored gold, Democrats were somewhat divided between backing gold or silver. By their 1896 national convention, however, the Democrats had attracted Bryan from the Populist Party and adopted a pro-silver, anti-gold stance. In brief, Bryan argued that indebted farmers would benefit from the inflation caused by a silver-backed money supply, which would grow more quickly than it would if it were backed by gold. The logic was as follows: since the supply of silver was more plentiful than the supply of gold, inflation would develop throughout the United States and allow farmers to pay back their outstanding debts in lesser-valued dollars.

Factory orders of WWII

A common misconception is that FDR’s New Deal policies, including many job creation programs, such as the Civilian Conservation Corps (CCC) and the Works Progress Administration (WPA), were enough to end the Great Depression and bring down the unemployment rate to pre-depression levels. The primary reason that drove unemployment to below 5% were the massive factory orders associated with World War II.

Marco Polo in Kublai Khan’s Court

The Venetian merchant and explorer Marco Polo arrived at the court of Kublai Khan in 1275. The grandson of Genghis Khan, Kublai Khan established the Yuan Dynasty in China in 1271 and ruled until his death in 1294. After Marco Polo returned from China to Venice, he was imprisoned for a short period by the Genoese (who were at war with the Venetians). While in prison, he told the tales of his travels to another prisoner, who wrote down these elaborate stories. In time, these stories were published in a book, The Tales of Marco Polo. This book excited the imaginations of many Europeans, especially the explorers who set off in search of fame and riches during the so-called Age of Exploration.

non-denominational prayers in schools

the Court declared in Engel v. Vitale, 1962, that a nondenominational prayer written by New York officials for recitation in public schools at the beginning of each school day was unconstitutional.

The Constitution

a direct popular vote for members of the House of Representatives. -Direct popular vote means that the general public votes on the item and that vote immediately determines the outcome of the election or issue.

Compromise of 1787

The Great Compromise, also known as the Connecticut Compromise, occurred at the Constitutional Convention of 1787. It was a compromise between two plans known as the Virginia, or Large State Plan, and the New Jersey, or Small State Plan. It provided for a Senate in which each state would receive two senators, and a House of Representatives in which representation would be based on population.

Fourteen Points

n January 1918, Woodrow Wilson proposed Fourteen Points which enunciated his goals for the peace that would follow World War I. These were idealistic goals based on notions of open diplomacy, the elimination of secret treaties, self-determination, arms reduction, open trade, and a League of Nations to serve as an international forum to prevent future wars. The thrust of the Fourteen Points emphasized fairness and openness in international relationships. By November 1918, the Germans faced military and political collapse, but they approached an armistice with the Allies convinced that the postwar treaty would be a fair one based upon Wilson’s Fourteen Points. They reasoned that since the United States had turned the tide and saved France and Britain from almost certain defeat, the United States would dominate the peace negotiations. Unfortunately, they reasoned incorrectly and the Treaty of Versailles reflected British and French desires for vengeance more than it reflected the Wilsonian principles elucidated in his Fourteen Points.

Fashoda Crisis

imperial territorial disputes between Britain and France in Eastern Africa, occurring in 1898. A French expedition to Fashoda on the White Nile river sought to gain control of the Upper Nile river basin and thereby exclude Britain from the Sudan.

independence of African Nations

Liberia has been an independent state since its founding in 1847. Tanzania (B) achieved independence in 1964, Sierre Leone (C) in 1961, Gambia (D) in 1965, and Ghana (E) in 1957.
Score Overview
Multiple Choice Section
Your AnswerCorrect Answer

birth rates

Research shows that, as economic development (industrialization, urbanization, higher levels of education) expands, birth rates tend to decline.

Berlin Conference

sub-saharan conquest of Africa

Leaders of Soviet union

first Trotsky and Lenin, then Stalin

Angkor Wat

Hindu Temple

Napoleanic Wars

When World War I broke out during the summer of 1914, it had been approximately 100 years since the end of the Napoleonic Wars.

judicial restraint

The tendency of judges to interpret the Constitution in light of the original intent of its framers

bills

The vast majority of bills never make it out of committee to the floor of the chamber. Many are introduced by a member only to get publicity, or so the member can tell constituents that (s)he did something about the matter

President’s powers

A president may not veto particular items in a bill (I). Such a power is called a line-item veto, and is held by 43 governors in the United States. A president may not pocket-veto a bill by holding it 10 days while Congress is in session (II). In such a case the bill becomes law without the president’s signature. If Congress adjourns during the 10-day period, the bill is pocket-vetoed. The only true statement is III, the president’s veto can be overridden if two-thirds of both houses vote to pass the bill despite the veto.

Corruption in Grant’s administration

Grant was an intensely loyal man who was, sadly, not the best judge of character in choosing his administrative appointees. During his first term in office, his administration was beset with financial scandals involving the vice president, Grant’s brother-in-law, and a well-known financial entrepreneur named Jay Gould. In his second term, the “whiskey ring”

“If your neighbor’s house was on fire, and he didn’t have a garden hose, wouldn’t it make sense to let him use your hose to fight the fire so the fire could be put out before it spread to your house?”

lend-lease act

Calvanism, Lutheranism, Anabaptism

Luther himself was forced to rely on sympathetic members of the nobility of the Holy Roman Empire in order to defend Lutheranism against the Holy Roman Emperor. Calvinism held special appeal for the new middle class, particularly business elements. Anabaptism drew most of its membership from the peasantry in western Germany and the Low Countries.

Treaty of Nanjing

The first Opium War, which ran from 1839 to 1842, began when the Chinese government, in an attempt to stop the trade of opium with the British, seized millions of dollars worth of opium from traders in Canton. In 1839 the British declared war to regain the opium market and other lucrative trading rights. The Opium War ended in 1842 with the Treaty of Nanjing, the first of what China dubbed her “unequal treaties” opened chinese ports and ceded hong kong to uk

countries which don’t have indigenous population

Argentina, Chile, Uruguay, Paraguay

Which of the following statements is not true regarding the colony of Jamestown

The Virginia Company of London was based in London, not Massachusetts. It had a charter to colonize American land between the Hudson and Cape Fear rivers. The other Virginia Company was the Virginia Company of Plymouth, which was based in the American colony of Plymouth, Massachusetts. It had a charter to colonize North America between the Potomac River and the northern boundary of Maine. Both Virginia Companies were joint-stock companies, which had often been used by England for trading with other countries.

Cortez

destroyed Mayans and gave them smallpox.

French and Indian War

When France’s expansion into the Ohio River valley brought repeated conflict with the claims of the British colonies, a series of battles led to the official British declaration of war in 1756. Boosted by the financing of future Prime Minister William Pitt, the British turned the tide with victories at Louisbourg, Fort Frontenac and the French-Canadian stronghold of Quebec. At the 1763 peace conference, the British received the territories of Canada from France and Florida from Spain, opening the Mississippi Valley to westward expansion. Did not contribute to revolution.

dispatch riders in revolution

William Dawes and Paul Revere

Tea Act of 1773

The British East India Company was suffering financially because Americans were buying tea smuggled from Holland.
Parliament granted concessions to the British East India Company to ship tea straight to America, bypassing England.
American colonists refused to buy less expensive tea from the British East India Company on the principle of taxation.

Not True: Colonists found that even with added taxes, tea directly shipped by the British East India Company cost less, and they bought it.

formation of new state governments

Massachusetts did set a valuable example for other states by stipulating that its constitution should be created via a special convention rather than via the legislature. This way, the constitution would take precedence over the legislature, which would be subject to the rules of the constitution.

Louisiana Purchase

increased land by 100 percent. Doubled size of nation. Orignally just planned ot buy only New Orleans but Napolean offered to sell the entire territory. Jefferson’s strict belief in constitution required approval to buy.

James Smith and John Rolfe

It is not true that John Smith’s governance helped Jamestown more than John Rolfe’s discovery that a certain type of East Indian tobacco could be grown in Virginia. Smith’s strong leadership from 1608-1609 gave great support to the struggling colony. However, when Smith’s return to England left Jamestown without this support, the future of the colony was again in question. In 1612, however, when John Rolfe found that an East Indian tobacco strain popular in Europe could be farmed in Virginia, the discovery gave Jamestown and Virginia a lucrative crop. Therefore, both Smith’s time in office and Rolfe’s discovery were beneficial to Jamestown.

The Spanish Armada (Spanish: Grande y Felicísima Armada, literally “Great and Most Fortunate Navy”)

was a Spanish fleet of 130 ships that sailed from A Coruña in late May 1588, under the command of the Duke of Medina Sidonia, with the purpose of escorting an army from Flanders to invade England. The strategic aim was to overthrow Queen Elizabeth I and her establishment of Protestantism in England, with the expectation that this would put a stop to English interference in the Spanish Netherlands and to the harm caused to Spanish interests by English and Dutch privateering. England won decisively.

Amendments

Land for England

John Cabot (Canada)

Austria-Hungary, Germany, and the Ottoman Empire were disintegrated

WWI

Social psychology, sociology and anthropology have what in common?

study how people live and work in groups

dominant languages in ME

Persian and Arabic

writ of habeus corpus

Which of the following is NOT one of the United Nations four main purposes?

eliminate all weapons of mass destruction

Olympics

Olympia, 776

geographical techniques

Systematic, regional, descriptive, and analytical

treaty of tordesillas

John Cabot

Northwest Passage

virginia company of london and plymouth

Virginia company of London

Samuel de Champlain

Dutch trading outposts

Manhattan Island and Present Day Albany

Henry Hudson

discovered Hudson River

England

puritans and separatists

William Bradford

Massachusetts Bay Company

Charles one persecuted Puritans, must follow god,Roger Williams was a dissident, left colony and founded Providence, separation of church and state there

Anne Hutchison

taught info contrary to beliefs of Puritans, went to discover Portsmouth, RI with his people. Father was Anglican. Married William Hutchinson. Belief in god, not laws and rules. Believed women should’ve been their own. Vocal about beliefs. Works do not equal salvation. Chosen people of god could recognize each other. John Winthrop VERY anxious about her. She was banned from Boston. Moved to Bronx, was killed by Indians, people called it God’s judgment. Where the Hutch comes from!

Carolinas

Named after King Charles I by King Charles II

Navigation Acts

Quakers

inner light, less emphasis on Bible, pacifists

early groups

Scots, Irish, British, Germans

James Oglethorpe

Georgia

Treaty of Paris of 1763 (Seven Year’s War-French and Indian War)

British got Canada and East of Mississippi and France got NOTHING

From war with France (George Greenville was the leader

poor, needed to pay for war from colonists
1. sugar act- taxes on imports by Americans
2. stamp act- all paper had stamps to be paid for, a drain on American currency.

Stamp Act Congress

no tax without rep, also got states officials to know each other and a chance to chill

Lord Rockingham’s Declaratory Act

cancelled, stamp act, however, power to tax americans whatsoever

Townshend

followed Rockingham, passed a series of taxes called Townshend Duties

PM Lord North

repealed all taxes but tea tax, just to prove it could tax them

Tea Act of 1773

British Est India Company allowed ship tea directly to colonies rather than only by british, cheaper than smuggled Dutch Tea. Americans resisted cheaper tea.

Thomas Hutchinson

stopped tea ships from leaving Hrbor. BTP. Consequneces: Threw tea in harbor. Coercive Acts: port of of Boston closed. Governmnet lost power, Brits could quarter troops anywhere they wanted.

Concord

Gage Gernal destroyed colnial arms and ammunication at Concord.

Second Continental congress

new england: declare independence, middle colonies: not go so far

Dec of Ind

Work of Thomas Jefferson of VA. Adopted July 4, 1776.

hessian

German mercenary fighting for the British

Treaty of Paris of 1783

US independent declaration, west boundary at MI river, North boundary of Florida, Britain retained Canada, creditors free to colect debts, Congress restore confiscated loyalist property

by 1777

10 states had constitutions

checks and balances

reflective of selfishness of man, a unanimous idea at meeting in Philadelphia in 1787.

three fifths compromise

apportioning representation and taxation on states 3/5 slaves counted

presidency

control foreign policy, veyo, could impeach, four years and reeclecatble, electoral college. If no one had majority, chosen by HOP. 1788, nine ratified constitution, two did not. after proposing bill of rights, changed their minds. Washington president in 1789.

federalists/antifederalistcs

constitution supporters and centralized power, versus not supporters

executive branch depts

state, treasury, and war

Judiciary act of 1789

six justices, power to rule constitutional valid of state laws

Hamilton

fuding of national debt, esstablishment of national bank, government given all powers not purposely denied to it., called federalists

Thomas Jefferson

Sec of state beleived Hamiltons idea would enrich a small elite group.

Jefferson and Madison

strict interpretation of constitution, if something not permitted, then prohibited

France war with Europe

US neutrality

Pickney treaty

Spanish opened mississippi river to america traffic and northern boundary of Florida

Whiskey rebellion

Washington sent militia to stop protestors who didnt wanna pay tax. showed power of young govt.

election of 1798

federalist majority in houses of congress, alient act, hurdles in path of immigrants, sedition act couldnt speak against govt

John Adams

appointed John Marshall as chief justice to guarantee federalist principles before Jefferson took office-midnight appointments

Jeffersonian Era

agrarian utopia with little govt influence, nation growing industiralized and urban

LA Purchase

15 million in april 1803, no authority to buy more han the city of New Orleans

war of 1812

was an armed conflict between the United States and the British Empire. The British restricted the American trade since they feared it was harmful for their war with France and they also wanted to set up an Indian state in the Midwest in order to maintain their influence in the region. That’s why 10,000 Native Americans fought on the side of the British in this war. Since Canada was a British colony back then, Canadians were also British allies. The Americans objected to the British Empire restricting their trade and snatching their sailors to serve on British ships. They were also eager to prove their independence from the British Empire once and for all.

Rush-Bagot Treaty 1817

no armed fleets on Great Lakes

Adams-Onis Treaty

Spain sell Florida territory to USA

Gibbons vs. Ogden

only congress has right to regulate commerce

Jackson

veto power used than any president before. beginning of two party system. Mass conventions for nominating candidates

War on Bank of US

Jackson vetoed Nicholas Biddle’s conservative bank

William Lloyd Garrison and Theodore Weld

opposed slavery- Wrote the Liberator-wanted emancipation-new party called liberty party fought for free soil (nonexpansion of slavery in new territories)

1830

number of patents doubled

cotton

particularly easy to grow in deep south rich soil

northern states at beginning of civil war

81 percent of factory capacity

American missionaries

Oregon fever, of 1840s, people trekked out there to live

James Polk

Jacksonian, admitted Texas to union in 1845. Oregon treaty-territory extended by treaty with British. War with mexico ceded southwest territory from Texas to Cali coast, new question of slavery in new territories

Reciprocity Treaty

`Pierce opened Canada to more trade with USA

Commodore Matthew Perry

opened Japan to American commerce

Gadsden Purchase from Mexico

provide a route for transcontinental railroad

Harriet Beacher Stowe

uncle tom’s cabin, deipicted evils of slavery, turned people against slavery.

John Brown

Raided arsenal of Harpers Ferry inciting a violent slave uprising, was convicted and murdered. seen as martyr in the north and criminal by Lincoln and the south. Lincoln won north in 3 party election.

Confederate states of America

Alabama, South Carolina, Georgia, Florida, Mississippi, Louisiana, and Texas. Montgomery meeting, Jefferson Davis president, slavery recognized, single six year term of president, line item veto allowed, state sovereignty recognized. Later, Tennessee, Virginia, North Carolina, and Arkansas declared succession .

McClellan/ Stonewall Jackson

war hero in north and war hero in south (who was shot by one of his own men)

Alaska

purchased in 1867 for 7 mill

economy between 1860-1894

became largest, abundence of iron oil and coal, steel industry, electrical energy

booker t washington

vocational school about balcks

interstate commerce act

oversee fair and just railway rates, end discriminatory practice, and look for financial statements

American Fed of Labor

Samuel Gompers skilled labor union

Sherman Antitrust Act

break up trusts

B,aine

secretary of state opposed to military intervention in the hemisphere

populist party

agrarian, coinage of silver to gold, federal loans to farmers, immigration restriction, eight hour workday, use of secret ballot, right of initiative and referendum, William Jennings Bryan elected their candidate…lost election to McKinley and lost influence. Lost three times !!!! Tried to make teaching of evolution illegal

LABOUR strike

all ended by force

Anti-saloon league

against drunkenness, promoted prohibition

yellow journalism

sensationalist newpaper highlighting Cubans

Sino-Japanese war

colonialization potential, US created China open doors policy helping China’s independence

Cuba

Platt Amendment-US a protectorate, could not make a treaty impairing independence, could not get a public debt. allowed to leave naval base 99 years, could preserve order there.

William McKinley

assassinated in Buffalo New York, Theodore Roosevelt took over. Roosevelt did much to encourage trust busting

Hay-Bunau-Varilla treaty

US control of Panama Canal

Roosevelt Corollary

right to intervene in affairs of Latin America to keep European power from using military force to collect debts in WH

Taft-Katsura Memo

Japanese protectorate over Korea, maintain open door policy in China

Gentleman’s agreement with Japan

stop emigration of unskilled Japanese due to racial discrimination

sixteenth amendment

graduated income tax ( Wilson)

seventeenth amendment

direct election of senators (Wilson)

Federal Trade Commission

investigagte unfair business practices

WEB Dubois

founded Niagara Movement for racial equality and full rights of citizenship. NAACP created in 1909

IWW

promoting violence and revolution. strikes in textile industry, after Red Scare, deported.

Taft

Dollar diplomacy-American investments would encourage economic, social and political stability. Just an ILLUSION.

Federal Reserve Act of 1913

lost value of dollar, creates money out of nothing. 12 regions-fed reserve in each region. Backed by commercial paper and 40 percent gold.

Wilson’s cabinet

segregated workers with no objection, WEB Dubois pissed, vetoed literacy test for immigrants

Wilson

VERY INVOLVED IN FOREIGN AFFAIRS

Espionage Act

provided for fines and imprisonment for people who made false statements which aided the enemy or obstructed recruitment of the draft

Sedition Act

forbid criticism of government flag and uniform

wartime employment

new jobs for mexicans and african americans in war industries

1920

majority of Americans lived in urban areas (51 percent). Suburbs grew. Birth control promoted by Margaret Sanger, although illegal. Divorce laws liberalized. Rates of pay for women lower. Migration of blacks to cities. Held low paying jobs, confined to segregated areas of the city.

Marcus Garvey

wanted blacks to create a new nation in Africa (repatriation), wanted to uplift them, founded UNIA, create Black Star Line to send blacks back to Africa, convicted of mail fraud, moved to London after imprisonment, prophet of Rastafari religion and national hero in Jamaica

Lost generation disgusted with materialism

Ernest Hemingway, F Scott Fitzgerald, Exra Pound, and TS Eliot, moved to Europe-hopes and dreams crushed by war, Americans moved to France, felt they had more artistic freedom (The sun also rises)

eighteenth amendement

prohibition

Sacco and Venzetti

targets of anti-radical immigration, arrested for armed robbery, weak evidence of crime, appeals denied, in 1927, they were condemned and were electrocuted despite many protests.

Teapot Dome Scandal

Under Harding: oil reserves only for US navy. Albert Fall secretary of interior. Was given money to steal oil by Mammoth oil corporations, let them drill for oil. Fall went to jail

Hawley-Smoot Tariff

raised duties on imports

Federal Home Loan Act

avoid foreclosures by making home-loan banks

twenty-first amendment

repealed prohibition

FDR

passed many pieces of legislation in first 100 days of New Deals, setting a precedent. Emergency banking relief act: provided funds for banks from federal reserve, encouraged people to deposit money in banks, Glass-Steagall Act, FDIC, insure individual deposits in banks, Home Owners Loan Corp: refinanced loans, gave money to one million home owners. Devalued currency. Federal emergy releif: 500 million to aid the poor., social security act and unemployment benefits began. Supreme court overturned legislation, tried to pass Judicial Reorganization bill, allowing presidnet to name new federal judge for judges who would not retire by 70 and a half. not popular!!

Dawes Act

assimilation of Indians into society. break up of reservations. 2/3 of land committed to indians taken by 1932. Indian Reorganization act to give lands back.

Neutrality legislation

Act of 1935- war by foreign nations, no weapons, 1936-prohibit loans when war exists, 1937-is this civil war a threat to world peace? No weapons!

Pearl Harbor

Wanted to destroy US fleet , US declared war on Japan, Germany and Italy declared war on USA.

1942

formed UN promising not to make peace with common enemies

Battle of Midway

turning point in Pacific where America won

Truman doctrine

supporting nations possibly weak to communism

Marshall plan

European recovery after the war

Pacts

NATO US Canada Britain and nine European nations, Soviet formed Warsaw Treaty organization including Eastern block countries

Geneva Accords

Vietnam divided at 17th parallel. North Communist, south free market

1964 civil right acts

outlawed racial discrimination by employers and unions, elimated restrictions on black voting

medicare and medicaid

Johnson’s efforts

Martin Luther king

Earl Ray in Memphis killed him, riots ensued in 100 cities

Betty Friedan

Feminine Mystique, middle class women stifled fought for equal employment opportunities and equal pay

detente

relaxing of tensions between China and USA when admitted them to UN.

Watergate Scandal

burglars funded by Richard Nixon’s re-election campaign, Nixon recorded all conversations in oval office, stealing private information to prop up his re-election

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What is strategic management and why is it important? - perfect grader

Strategy

Understanding resources and how to develop and execute a plan

Strategic Competitiveness

Compare to strategy of your peers

Above Average Returns

Striving to be better

Factors that are the primary drivers of the 21st-century landscape

Globalization and rapid technological change

Industrial-organizational model

Look at the external model and determine how it is doing compared to the competition and choose an industry that has high profit margins if you want to see high returns

Resource-based model

Start with RESOURCES, then to CAPABILITY and then to CORE COMPETENCE

Resources

Physical, human, and organizational capital

capability

Integrated set of resources

Core Competence

A source of competitive advantage

Stakeholder

Someone who is affected or may be affected by an organization

Three Primary Stakeholder Groups

Capital Market Stakeholders, Product Market Stakeholders, and Organizational Stakeholders

Capital Market Stakeholders

Stockholders, investors, and banks

Product Market Stakeholders

Suppliers, retailers, consumers, and distributors

Organizational Stakeholders

Employees and Managers

SWOT Internal

Strengths and Weaknesses

SWOT External

Opportunity and Threats

External Environment (using SWOT)

General Environment

More macro i.e. future focus

Industry Environment

More micro i.e. specific

External Analysis Process

Scanning
Monitoring
Forecasting
Assessing

Scanning

Looking at trends, studying them (continuous)

Monitoring

Looking for Changes

Forecasting

Projecting what you think will happen

Assessing

“How did we do?” and then make changes

Seven Segments of the general environment

Demographic
Economic
Political/legal
Sociocultural
Technological
Global
Physical

Demographic Segment

Ethnicity, age, gender, etc.

Economic environment

The nature and direction of the economy in which a firm competes

Political segment

The arena in which organizations and interest groups compete for attention, resources, and a voice in overseeing the body of laws and regulations guiding interactions among nations

Sociocultural Segment

Behavior, movements like the green movement/ health foods

Technological Segment

The Institutions and activities involved in creating new knowledge and translating that knowledge into new outputs, products, processes, and material

Global Segment

think International- trade, etc.

Physical Environment Segment

sustainability, physical buildings, etc.

Five forces of competition

1. Competitive rivalry
2. Bargaining power of suppliers
3. Bargaining power of buyers
4. Threat of new entrants
5. Substitutes

Example of Five forces of competition

Strategic Group

a set of firms emphasizing similar strategic deme signs and using a similar strategy

Ethical Info Gathering

Obtaining publicly available information, attending trade fairs to obtain competitors brochures, viewing their exhibits, and listening to discussions about their products

Unethical info gathering

eavesdropping, stealing, blackmailing, etc.

Value

Measured by a product’s performance characteristics and by its attributes for which customers are willing to pay

Why is it critical for the firm to create value?

To understand how the customer defines value

How does a firm create value?

By focusing on the market

Tangible Resources

include both fixed assets, such as machinery, buildings and land, and current assets, such as inventory.

Intangible Resources

Nonphysical assets, such as patents, trademarks, copyrights, goodwill and brand recognition,

Four criteria of Sustainable Advantages

Valuable
Rare
Costly to imitate
non-Substitutable

Value Chain Analysis

Determining each stage of the value chain activities to see if they add value

Value Chain Activities

Outsourcing

Allowing another firm to take over a portion of your business operation

Core Rigidities

the inability to be open to change; may result in from willing to not change a core competency

Business level strategy

An integrated and coordinated set of commitments and actions the firm uses to gain a competitive advantage by exploiting core competencies in specific product markets

Relationship between a firm’s customer and Business level Strategy

Who: customer. Defined by segmentation, demographics, etc.
What: products needs that are satisfied
How: using core competencies

Business-level Strategies

How can each one of the business-level strategies be used to position the firm relative to the five
forces of competition in a way that helps the firm earn above-average returns?

Pressure extended to and from a company in different ways

Risks associated with using business-level strategy

Depends on the strategy;
i.e.: low cost is a risk because of lower quality OR distinctiveness can lead to being “too expensive”

Competitors

firms operating in the same market, offering similar products, and targeting similar customers

Competitive rivalry

is the ongoing set of competitive actionsand competitive responses that occur among firms as they maneuver for market position

Competitive Behavior

set of competitive actions and responses a firm takes to build or defend its competitive advantags and to improve its market position

Competitive Dynamics

Total set of actions and responses take by all firms competing within a market

Market commonality

concerned with the number of markets with which thefirm and a competitor are involved

Resource similarity

The extent to which the firm’s tangible and intangible resources are comparable to a competitor’s in terms of both type and amount

Awareness

The extent to which competitors recognize the degree of their mutual independence that results from market commonality and resource similarity

motivation

The firm’s incentive to take action or to respond to a competitor’s attack, relate to perceived gains and losses

Ability

relates to each firm’s resources and the flexibility these resources provide

Two types of competitive action

Strategic and Tactical

Strategic Competitive Action

Any action that is going to take longer than a year

Tactical Competitive Action

Any action that is going to take less than a year

First-Mover Incentives

allocate funds for product innovation and development, aggressive advertising, advanced research and development, and Brand loyalty

Second-Mover Incentive

responds to first movers competitive action, typically through imitation

Late mover incentives

Respond with a significant amount of time after First-movers and Second-movers

Organizational Size: Small

More likely to launch competitive actions and be quicker doing so; they are perceived as nimble and flexible; Rely on speed and surprise to defend competitive advantage

Factors affecting likelihood of response

Type of competitive action, reputation of the actor, and how dependent are you on that market

Slow-cycle markets

Competitive advantages are shielded from imitation for long periods of time. I.e.: Disney’s Copyrights

Fast-cycle markets

Firm’s capabilities that contribute to competitive advantages aren’t shielded from imitation and where imitation is often rapid and inexpensive

Standard Cycle

Moderate cost of limitation may shield competitive advantages and competitive advantages are partially sustainable if their quality is continuously upgraded

Business-Level Strategy

detail actions are taken to provide value to customers and gain a competitive advantage by exploiting core competencies in specific, individual product or service markets.

Corporate Level Strategy

Company-wide, and specifies actions taken by the firm to gain a competitive advantage by selecting business competing for indifferent product markets

Three levels of diversification

Low, Moderate to high, and Very High

Low Diversification

Single business and Dominant Business

Moderate to High Diversification

Dysphagia: Symptoms, diagnosis, and treatment - perfect grader

Dysphagia and Other Eating Incidences of swallowing, eating, and nutritional problems are

increasing as the elder population grows.

Chronic medical conditions that influence the ability to feed oneself include

arthritis, hypertension, heart disease, hearing impairment, mobility, diabetes, and visual impairments.
Lack of assistance for financial support, shopping, cooking, and so on

Malnutrition

Insufficie

Undernourishment

Taking in less nutrition than needed
May occur in elders who need assistance feeding

Dehydration

Taking in less or excreting more fluids than needed
May occur in elders who need assistance to drink or obtain fluids

Role of COTA in Dysphagia

1.Collect data to identify the strengths and weaknesses of elders in feeding and drinking.
2.Provide quality care to elders with swallowing problems.
3.Activities
4.Meal preparation, money management, shopping, oral-facial exercises, assistive devices

Normal Swallowing-Phases

Oral preparatory phase
Oral phase
Pharyngeal phase
Esophageal phase

Changes to Swallowing Structures

Occur naturally as we age
Compensations : Adaptations to swallow
Smaller bits, more chewing time, softer food
May need soft diets, liquid diets, and so on to prevent choking or aspiration

Dysphagia

Inability to swallow

Etiology of Dysphagia

Neurologic, structural, systemic

Aspiration pneumonia

Inhaling food or fluids into the lungs, resulting in a life-threatening form of pneumonia

Silent aspiration:

Aspirating food or fluids without coughing or choking and later developing pneumonia or other conditions

Intervention Strategies for Dysphagia

Establish a therapeutic relationship with the elder.
Focus attention on every aspect of the mealtime experience.
Position the elder, use his or her assistive devices, address his or her dietary concerns, and take necessary precautions.

Preparation Checklist for Dysphagia and Self-feeding Interventions

Collect information and review the chart.
Inform the elder of the treatment goals.
Create the right environment for eating.
Ensure proper fit of dentures, glasses, and so on.
Asses the patient for readiness to eat.
Position the elder safely.
Complete oral preparation exercises.
Check the food tray for the correct diet.

Intervention Strategies-Environmental concerns

Eating is part of socialization and quality of life.
The eating experience should be as aesthetically pleasing as possible.
Ensure good lighting with no distracting noises.
Allow plenty of time to eat.
Make sure the table is at the appropriate height.
Provide comfortable positioning.
Sit with pleasant table mates if the elder lives in a residential community or nursing home.

Positioning-Dysphagia

Safe positioning prevents food from entering the trachea (airway).
Proper positioning increases alertness, normalizes muscle tone, provides comfort, and helps with digestion.
Preferred position is in a dining chair rather than a wheelchair.
The elder should sit upright wit the feet on the floor and head and neck in alignment.
The extremities should be fully supported on the table or tray.
The hips and knees should be flexed 80 to 90 degrees.

Feeding in Bed-Dysphagia

Position as close to the headboard as possible.
Elevate the head of bed 45 degrees or more.
Flex the knees to prevent sliding down in bed.
Use pillows to position if needed.
Positioning devices may be used in chairs or beds.

Assistive Devices-Dysphagia

Straws
Built-up handles for silverware

Direct Intervention-Dysphagia

Learning how to feed someone well takes practice.
Provide a large napkin (not called a “bib”) to catch stray food
Bring food to mouth slowly and watch for cues that the person is ready to take a mouthful of food.
Learn how much food the person will take in one mouthful.
Watch for chewing and swallowing; wait for the patient to swallow and clear the mouth before giving another spoonful.
Provides fluids to wash down the food bolus.
Coordinate eating and breathing.

Feeding Patients with Dementia

Provide finger foods if they can feed themselves.
Decrease environmental stimulation.
Reduce verbal communication to ease distractions.
Monitor so the patient with dementia does not eat “nonfood” items on the tray.

General Problems to Avoid-Dysphagia

Food too hot or too cold
Ill-fitting dentures
Not allowing enough time for chewing and swallowing
Not monitoring a patient at risk for aspiration while he or she is eating
Stopping the feeding before the elder has had time to consume the nutrition needed

Dietary Concerns-Dysphagia

Elders prefer softer, sweeter, easy-to-prepare foods.
Elders often drink fewer fluids.
Learn how liquid intake is measured in each health care facility so you will record the correct amounts of oral fluid intake.

National Dysphagia Diet Levels

Level I: Puree consistency diet (homogenous, very cohesive, pudding-like, requiring very little chewing ability)
Level 2: Mechanically Altered (cohesive, moist, semisolid foods, requiring some chewing)
Level 3: Dysphagia-Advanced (soft foods that require more chewing ability)
Regular (all foods allowed)

Fluid Consistencies-Dysphagia

Thin - regular consistency with no alterations
Nectar - slightly thicker than water
Honey - consistency of honey; trickles slowly off spoon
Spoon-thick - consistency of pudding

Precautions-Dysphagia

Observe the patient’s level of alertness, orientation, cognitive status, positioning, general endurance, and ability to self-feed.
Observe the presence of delayed swallowing, food pocketing (food retained between the gums and cheeks), choking, and a wet-sounding voice.
Be prepared to assist with choking using the American Heart Association methods for a choking person and CPR.

Signs and Symptoms of Aspiration

Coughing, gagging, or choking during mealtimes and immediately afterward
Rapid breathing, fatigue, or bubbly respirations during and immediately after meals
Intermittent elevated temperatures
Vomiting small amounts after meals and at night (spitting up)
Needing to take multiple swallows to clear food from the mouth
Drooling or having food fall out of the mouth
Eating or drinking rapidly and stuffing food in the mouth
Appearing fearful and reluctant to eat
Unexplained weight loss or being underweight

Ideas for Managing a Feeding Program

Get elders out of bed at mealtimes.
Ensure a pleasant dining environment without loud noise and distraction.
Set up each resident’s trays, dishes, and assistive devices so they are within easy reach.
The program should address all meals and include members of the interdisciplinary team.
Safety first!

Part I: Restraint Reduction-COTA role

Role of COTAs in restraint reduction
Assessment
Consultation
Environmental adaptations
Psychosocial approaches
Activity alternatives
Treatment

History of restraints

Physical restraints have been used since the 1700s in the United States to manage psychotic behavior.
Until the late 1980s, restraints were almost universally used in nursing homes.
Restraints continue to be used today in hospitals with a physician’s order.
Nursing homes have almost universally eliminated restraints.

Consequences of Using Restraints-Psychosocial

Depression, withdrawal, anxiety, fear, panic, and so on
Less social contact, humiliation, decreases in dignity and self-esteem

Consequences of Using Restraints-Physical

Hazards of immobility, incontinence, constipation
Loss of balance, falls, pressure ulcers
Pneumonia, infection, dehydration, impaired circulation, respiratory problems
Abrasions, cuts, loss of freedom
Death by suffocation or strangulation

Establishing a Restraint Reduction Program

Philosophy
Empowerment of elders and staff
Elders’ dignity and quality of life
Elder safety and freedom within the facility
Policy
OBRA law requires restraints be used only in certain conditions and limitation.
Each facility has its own policy that meets the OBRA law. Know your facility’s policy.

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Know the facility’s alternatives to restraints.
Education
Staff, clients, and families need education on the use of restraints and restraint reduction.
Alternative to restraints should be investigated and selected.
Teaching strategies may include having the facility staff restrained for a short period of time. Few individuals would choose restraints for themselves as a suitable intervention.

Steps to success- Restraint Program

Begins with a multidisciplinary team
Family members should be included because they may continue to ask for a restraint to prevent falls. The family needs to sign a consent for a restraint. Family education is critical to success.
Policies and procedures for applying a restraint and removing restraints should be developed.
Alternatives to restraints should be available in the facility.
After removal, follow-up and assessment of patient safety is needed. Additional alternatives may need to be tried.

Assessment-Restraint Reduction

Documented need for an intervention should be completed first.
Assess posture, alignment, balance, strength, and visual acuity.
Examine head control, trunk stability, upper extremity support, and ability to self-propel if in a wheelchair.
Perform a cognitive assessment.

Consultation-Restraint Reduction

Roles as consultant: Advocate, observer, teacher, information specialist, team problem solver, identifier of resources
Formal restraint reduction training
Development of alternative to restraint use
e.g., splints if indicated
Examine the environment for needs and psychosocial and activity-related alternatives.
Teach the staff alternatives.

Environment- Restraint Reduction

Chair selection: Reclining chairs
Alarms for chairs and beds
Low beds that rest on or very near the floor
Fall mats
Moving furniture away from beds so that rolling out of a low bed to the floor is safer
Wrap-around walkers
Nursery intercoms that can help monitor safe ambulators
Families can help decorate elders’ rooms so they appear familiar and safe.

Psychosocial approaches-Restraint Reduction

Have a written plan of interventions for cognitively impaired elders who may wander.

Activity alternatives-Restraint Reductions

Provide meaningful occupations for elders.
Relate activities to their past occupation if able.
Provide an activity kit:
Sewing basket, briefcase, fanny pack, or tackle box of items that can be manipulated by the elder

Treatment- Restraint Reductions

Self-care techniques
Must be done as part of the elder’s agenda and routine
Upper body positioning
Best support possible is needed. A full lapboard can be used if it doesn’t promote agitation for the elder.
Swing-away lap tray; foam wedges or bean bags
Seating adaptations
Correctly fitted wheelchairs with pads that support elders
Drop seat chairs and reclining chairs that can prevent elders from rising or rising too quickly but do not restrict other movements
Foam pads that support and position elders

Wheelchair Seating and Positioning- COTA must understand

The use of wheelchairs at home, in the community, or in institutions improves the clients’ mobility, level of independence, and participation in their chosen occupations.
One size does not fit all.
Joint replacements, osteoarthritis, osteoporosis, CVA, Alzheimer’s disease, Parkinson’s disease, dementia, diabetes, heart failure, and hypertension can all influence the type, size, and fit of the wheelchair.
Outcome of wheelchair fitting done by OTR
Proper positioning, independence, prevention of skin breakdown, improved quality of life

COTA’s Role in Seating and Positioning

Posture should be monitored continuously.

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Pressure relief to prevent skin breakdown
Elders have very fragile skin, and pressure causes breakdown quickly.
Pressures sores develop when the blood circulation to an area is decreased; sitting in one position for too long can cause this to occur.
Teach elders to monitor their own skin.
Look for areas of redness over bony prominences. Change positions every 1 to 2 hours.
Use a mirror to inspect their skin.

Optimal seating position wheelchair

Pelvis: Neutral position with weight equally distributed between the left and right ischial tuberosities
Trunk: Slight lordosis in lumbar area, slight kyphosis in thoracic area, and small amount of cervical extension
Femurs: Neutral position; slight abduction of the hips; and 90 degrees of flexion at the hip, knee, and ankle
Arms: Supported by armrests but without shoulder elevation

Benefits of Correct Positioning in a Wheelchair

Assists breathing, swallowing, digestion
Improves socialization by changing elder’s eye gaze
Promotes comfort (reduces pain, sliding, leaning)
Provides easy rolls for the client
Insurance restrictions sometimes lead to use of sling upholstered wheelchairs really meant for short-term use only
Insert a solid seat or back.
Add padded cushions.
Adjust the wheelchair if able.

Causes of falls

Environmental
Biological
Cognitive or psychosocial
Functional

Risk factors for Falls

History of falls, neurologic illness
Multiple medications
Poor eyesight, deconditioning
Environmental hazards, poor lighting, loose carpets, no clear walking pathway in the home or room

Fall Statistics

Elders older than 75 years of age fall more frequently than any other age group except infants and toddlers.

Accidents are the sixth leading cause of death for those older than 65 years.

Leading type of accident in the home

One in 40 elders who have fallen will be hospitalized, and only about half will be alive 1 year later.

Causes of Falls

Environmental causes
Poorly kept home or yard
Poor lighting or glare
Uneven stairs, lack of handrails on stairs
Uneven and unsafe surfaces (frayed rug edges, slippery floors in showers and tubs, polished floors, cracks in cement)
Unstable or low furniture (chairs, beds, toilets)
Pets, young children, clutter or electric cords in walkways
Inaccessible items
Limited space for ADLs

COTA’s role in fall prevention

: Inspect the client’s living environment for hazards that may lead to a fall.

Biological causes of falls

Sensory
Visual changes, loss of depth perception, peripheral vision, color discrimination, acuity, accommodation
It becomes difficult to judge the depth of stairs.
Bifocals and trifocals take time to get adjusted to.
Vision
Macular degeneration, cataracts, diabetic retinopathy, glaucoma, and stroke all affect vision.
Spatial organization or figure ground may cause an elder to perceive a change in rug color or flooring as a stair.
Misinterpreting visual information leads to falls.

Cardiovascular
Blood pressure changes
Orthostatic hypotension, neuropathy, diabetes, medication side effects, syncope
Lower cardiac output
Results in lightheadedness, dizziness, impaired venous return; may occur from prolonged bed rest

Neurologic or musculoskeletal causes of falls

Changes in the center of gravity, gait, stride, strength, and joint stability increase the risk for falls.
Changes in posture control include decreased proprioception, slower righting reflexes, decreased muscle tone, and increased postural sway.
Decreased height in stepping
Medical conditions that contribute to instability include degenerative joint disease, deconditioning, neuropathy, stroke, Parkinson’s disease, and dementia.
Musculoskeletal conditions include osteoarthritis and decreased range of motion.

Cognitive or psychosocial causes of falls

Poor judgment, insight, and problem-solving skills
Confusion or inattention
Fatigue, depression, dementia
Drug reactions, fear of falling
Unfamiliarity with a new environment or caregiver
Strong drive for independence

Functional causes of falls

ADLs become challenging
Functional mobility problems
Transferring from bed to chair or toilet, tub, or shower
Reaching, sitting, standing, and walking unsupported
Lack of assistive aids for ambulation or an inability to use them
Carrying a walker instead of using it to walk
Old, lost, borrowed, or smudged glasses impair vision
Poorly fitting shoes, loose pants that drag, and flimsy sandals affect balance

Multifactor causes of falls/preventation

Interdisciplinary team should work together
Not only ask the elders about their routines and ability to perform ADLs; also observe them doing the activities.
Shoes: Wear sturdy, rubber-soled shoes that fit well; slip-on shoes should fit well.
Dressing techniques should be taught.

Fall prevention-limit reach

Limited reach
Use reachers, extended handles on bath brushes, shoe horns, carts, walker trays or bags, or sock aids.
COTAs can determine the best way to attach the reacher to a walker or wheelchair.
Rearranging an elder’s environment is inexpensive and effective in fall prevention.

Fall Prevention-Difficulty with transfers and mobility during ADLs

Safety training with a cane, walker, or wheelchair
Good night lights for elders who get up to urinate at night
Wider walkways by moving furniture or eliminating too much furniture

Bathroom modifications for Fall prevention

Tub or shower bench with armrests and back
Handheld shower hose, grab bars
Raised toilet
Floor mats should have nonskid backing and be in good condition.
Heat-sensitive safety valves should be installed to prevent scalding.
Bedside commode
Good handrails may need to be installed in showers, near toilets, and so on for balance.

Kitchen modifications- Fall prevention

Avoid step stools.
Keep objects within reach.
Provide simple meal preparation guidance.
Use a microwave instead of the stove.

Furniture-Fall prevention

Height of seats can be increased with firm cushions.
Chairs with armrests are helpful.
Chairs with wheels should be avoided.
Elder’s feet should be flat on the floor when seated.

Preventing orthostatic hypotension

Occurs when an elder goes from a lying to a sitting position or a sitting to a standing position.
It is a drop in blood pressure enough to cause dizziness or passing out.
Prevention
Educate elders to sit up slowly and sit for a few minutes before standing.
Elders can dress while seated.
Physician should be informed about this form of hypotension.

Strategies for limited endurance

Place chairs strategically around the home.
Sit while performing ADLs.
Have a commode chair near the bed.
Perform general strengthening exercises.
Try community exercise programs such as swimming, dance, or walking clubs.

Ensure that the elder has access to emergency assistance.

Phones
Phone numbers
Neighbor
Family members

Community Mobility

Pedestrian safety
Alternative transportation
Safe driving

Maintaining Independence in Community Mobility

Driving is an important factor in elders’ independence and mental health.
By 2030, 20% of drivers will be 65 years old or older.
Elders account for a large number of traffic fatalities.
In the past decade, highway traffic fatalities increased by 33% in the elderly population.
Causes: Age-related vision, mobility changes; medications, decreased reaction time, and decreased decision-making skills

Role of COTAs in Elder Community Mobility

Assist elders in being as independent as safely possible.
Help elders identify realistic goals and treatment plans for moving around the community.
Provide resources for transportation when they can no longer drive.
Groceries, pharmacy, medical appointments, activities

Pedestrian Safety

Elders account for approximately 17% of all pedestrian fatalities.
Wheelchairs, walkers, and scooters require more time for crosswalks and may overturn when going down ramps.
A mobility expert should evaluate the type of equipment needed by the elder.
Safety training on the equipment an elder uses is critical for the COTA.

Pedestrian Safety Tips (Box 14-6)

Always use a crosswalk.
Use the pedestrian push button and wait for the WALK sign to appear.
Before stepping into the roadway, search for turning vehicles and look left and right before crossing.
Wear bright (fluorescent) colors during daylight and wear retroreflective material and carry a flashlight if walking at night.

Driver Rehabilitation Professionals

Assist elders needing scooters that are transported in a van.

This professional takes into account the type of wheelchair or scooter, whether the person needing the equipment will be a driver or passenger, and the length of time the equipment will be needed.

COTA’s Role- Driver Rehabilitation

Assist elders in applying for disabled parking placard issues by the Department of Motor Vehicles.
Help the elder determine the requirements for the disabled parking placard.
Paperwork usually needs to be signed by a licensed physician.

Alternative Transportation

Help the elder navigate the public transportation system if one exists.
Call the local senior center.
Independent living centers in the community may also have resources for elders.
Title II of the Americans with Disabilities Act (ADA) addresses elders with disabilities.
Public transportation services are designed to be usable by individuals with disabilities (physical or mental) who need assistance of another to board, ride, or disembark.

Special Transportation Services

Paratransit services: Elders usually must be able to independently leave their home or have someone help them leave the home and enter the paratransit vehicle.
COTAs help elders navigate this paratransit system to secure transportation to appointments and so on.

Visual Acuity

By age 70 years, most elders have poor acuity without corrective lenses or glasses.
This makes driving more hazardous for them.
With aging, changes in the lenses of the eye occur, and the eye muscles weaken.

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Pupil size decreases, which results in not being able to see well at night.
Field of vision decreases with age, and this contributes to collisions. Special mirrors on the car can be used to improve vision.

Glare occurs when too much light or light from the wrong direction is present. Elders’ eyes recover more slowly when glare is present.
Color of traffic lights can be a problem because elders require additional time to read road signs.

Hearing

37% of people older than 65 years of age experience some hearing loss.
Hearing is needed for horns, sirens, train whistles, ambulances, fire trucks, police vehicles, and so on.
Elders may need hearing aids to assist with this problem.

Muscles and Joints

Elders experience back pain, making it difficult to sit for long periods of time.
Arthritis may cause stiffness in the neck, making turning the head limited or painful.
Reaction time is lengthened in elders, making sudden changes in traffic or sudden stops almost impossible.
AARP has courses for elder drivers to improve unsafe habits.
Behind-the-wheel evaluation is the best method to determine driver safety.
Unsafe or questionable drivers should be reported to the DMV in each state.

Cost-control strategies can create ethical challenges for practitioners.

Traditionally, services are based on clinical need.
Increasingly financial constraints may impede care.
Cost-driven practices may include “creative” documentation.
Creative documentation refers to the practice of exaggerating a problem, altering a diagnosis, or implying better prognosis so more client visits can be approved.
When fraud exists, such practices are also liable to legal inquiry and punishment.

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Informed consent hinges on respect for client autonomy and the practitioner’s ability to effectively communicate potential outcomes.
The higher the risk, the more thorough the informed consent process should be.
Autonomy necessitates that they be allowed to accept or refuse the intervention.
Respect for autonomy does not include offering interventions that are not clinically indicated.

Ethical Problem Solving

Stages to ethical problem solving:

Awareness: What is going on?
What kind of ethical problem is it?
Who is involved?
Which laws and institutional rules apply?
What guidance does the AOTA provide?
What are my options?
Reflection: What do I think should happen?
Support: With whom do I need to talk?
Action: What will I do?

What kind of ethical problem is it?

Ethical dilemma = a situation in which there are two or more ethically correct options for action
Ethical distress = a situation in which the COTA knows which course of action to take but feels constrained to not carry it out
Distributive justice = a situation in which there is not enough of something that is valued

Who is involved in ethical decision/problem solving

Usually the COTA
Likely the COTA’s client
The client’s family often needs to be involved in medical decision making.
Family involvement may result in an ethical dilemma for the COTA.

Which laws and institutional rules apply?

Ethical action = making morally good choices
Legal action = right and wrong as a principle of justice
Ethics can be said to hold practitioners to a higher standard than the law.
Laws and institutional rules both help clarify the role of COTAs in a given ethics problem.

What guidance do the Occupational Therapy Ethics Standards provide?

A philosophical and practical translation of how to maintain professionalism in practice.
A regulatory code: guidelines for conduct are stated, and sanctions are provided for failure to comply with the code
Sanctions are stated in the Enforcement Procedures for the Code of Ethics.

Code of Ethics outlines principles for OT practitioners.

They must:
Demonstrate concern for the well-being of their clients and respect their clients’ rights.
Be competent.
Comply with laws and rules that apply to their practice.
Provide accurate information about services.
Be fair and discreet and demonstrate integrity with colleagues and other professionals.

What are my options for conflicts of ethics ?

Conflicts of conscience = conflicts between personal and professional duties in which the ethical course of action is not clear
Ethicists suggest estimating the consequences of a given option weighed against the consequences of other options.
Ethically preferable course of action = action that carries the greatest probability of a good outcome (benefits) and the least amount of damage (burdens)

Reflection: What do I think should happen?

COTAs must decide what they want to happen and must be able to explain their position.
Ethical reflection involves careful and critical examination of feelings and values, a rational estimate of benefits and burdens, and a sense of professional duty.

How free writing can be used for ethical reflection

Write for 10 minutes without stopping.
Key is to suspend the usual breaks in writing and let uncensored thoughts pour onto the page.
Technique is useful in uncovering deep moral and ethical feelings.
Technique may reveal previously unrealized opinions or persuasive reasons for a stance.

Support: With whom do I need to talk for ethical conflicts?

Ethical commitments are shaped by social influences; outcomes of ethical decisions also have social effects.
Before acting according to moral convictions, COTAs should solicit the support of others who will be affected by the issue.
Involved parties generally include:
The client, the client’s family, other staff members, and possibly the organization’s ethics committee

Ethical conflicts Action: What will I do?

COTAs will need to take action; doing nothing can also be perceived as an action.
COTAs may retain uncertainty but take comfort in knowing they gave deep thought to their position.

Ethical conflicts Action: Reporting

Reporting another’s unethical behavior is sometimes referred to as whistle-blowing.

Ethical conflicts Action: Reporting healthcare professionals

When reporting other health care professionals, the state regulatory board should be contacted.
State boards have the power to intervene if they determine the public to be at risk because of a practitioner’s incompetence, lack of qualifications, or unlawful behavior.
State boards can publicly reprimand a practitioner or may even prohibit someone from practicing in that state.

Ethical conflict action: What will I do professional boards

Three major bodies with jurisdiction over professional behavior:
AOTA Ethics Commission
Responsible for writing the profession’s ethics standards and for imposing sanctions on AOTA members who do not comply
National Board for Certification in Occupational Therapy (NBCOT)
Responsible for certifying OTRs and COTAs
Can permanently deny or revoke certification if necessary
State licensing board

Overview of Cultural Diversity

Each client has his or her own culture with his or her own blend of values and beliefs.
Clients are unique in race, gender, age, ethnicity, physical ability, and sexual orientation.
Their families, place of birth, religion, levels of education, and work experiences are also diverse.
COTAs contribute to the creation of a therapeutic environment where diversity and differences are valued and where elders can work to reach their diverse goals.

What Is Culture?

The contexts that influence performance skills and performance patterns (observable behaviors of occupations)
Include physical, social, personal, spiritual, temporal, and virtual factors that influence occupation
“Customs, beliefs, activity patterns, behavior standards, and expectations accepted by the society of which the individual is a member” (AOTA, 2008).

Culture Is Learned?

Culture is learned or acquired through socialization.
Not genetic
Environment is central to culture.
Shared with others
Cultural beliefs can change over time.
Culture can be subconscious.
Essentially, every belief and value that humans acquire as members of a society can be included in their culture, thus explaining the broadness of the concept of culture.

Levels of Culture

Values and beliefs are shared at a variety of levels.
Individual
Sense of humor, personal space, coping style, role choices
Family
Economic factors, ethnicity, housing
Community
Language, geography, industry
Region
Shared with community and includes language, geography

Ethnicity

Part of a person’s identity that is derived from membership in a racial, religious, national, or linguistic group
Ethnocentricity
The belief held by members of a particular ethnic group that their expression of beliefs and values is superior to that of others
Can be underlying, subconscious beliefs that guide a person’s behavior
COTAs should examine their cultural beliefs and biases.

Diversity

Conformity
An individual or cultural group forsakes values, beliefs, and customs to eliminate differences with another culture.
Examples: Americanizing first or last names, speaking only English, abandoning religious practices or social rituals, not wearing a particular ethnic dress
Bias: “a personal and sometimes unreasoned judgment”
Prejudice: “an irrational attitude of hostility directed against an individual, a group, a race, or their supposed characteristics”
Discrimination: “prejudiced or prejudicial outlook, action, or treatment”
Definitions are from Merriam-Webster’s Online Dictionary at http://www.merriam-webster.com/

Cognitive Style

How information is organized by the client—not an assessment of cognitive function for brain dysfunction
Open-mindedness or closed-mindedness

Open-minded persons:

Seek additional information before making decisions
Ask many questions, listen to alternatives

Closed-minded persons:

See only a narrow range of data and ignore additional information

Associative styles:

Filter new data through a screen of personal experience—only in terms of past experiences

Abstract thinkers deal with new information through ?

imagination.

What Is Accepted as “Truth”

Acts on faith

Acts on fact

Acts on feelings

Acts on faith

Has a belief system based on religion or political ideology and uses it to determine “good” or “bad”
Screen for faith-based beliefs before planning care

Acts on fact

Will want evidence to support the COTA’s treatment recommendations
Will want to know risks and benefits; will ask questions

Acts on feelings

Will go on “gut instinct”; will make a decision based on what feels right instead of facts
These clients need to feel comfortable with the COTA before following therapy recommendations.

Value Systems

separates wrong and good from evil.

Dominant American culture value system

Equality of all people
Informality in interactions with others
Emphasis on the future
Change
Progress
Punctuality
Materialism
Achievement

Locus of Decision Making

The extent to which a culture prizes individualism as opposed to collectivism

Individualism

Degree to which a person considers only himself or herself when making a decision

Collectivism

Degree to which a person must abide with the consensus of the collective group

When making health care decisions, some clients make ___?

their own decisions, others need the collective consensus of a group (family or extended community).

Sources of anxiety reduction

How does the elder handle stress?
COTAs should know who supports the elders in times of stress when decisions need to be made.

Issues equality and inequality

Socioeconomic status, gender, and age are factors to consider when assessing how decision making occurs for the client

Ageism:

Belief that one age group is superior to another
Avoid stereotyping or assumptions about inferiority.

Different use of time, monochronic and polychronic

Monochronic: “One thing at a time”
Adherence to schedules is important
May be offended if kept waiting
Polychronic: Organize their lives around social relationships
May be late to appointments
Enjoy conversation
Want to know the COTA personally

Different communication styles -culture

Cultures differ in the amount of information communicated.
Cultures differ in verbal and nonverbal language.
High-context cultures have understanding through shared experiences and history.
Low-context cultures focus on precise, direct, and logical verbal communication.
Depending on which context culture you are from and which the client or family is from, communication needs to be adjusted so that understanding occurs.

OT Framework

Occupational Therapy Practice Framework Purpose

Framework is intended to help OTRs and COTAs analyze their current practice and consider new applications in emerging areas.
Developed to help the external healthcare professionals (e.g., physicians, payors, community) understand the profession’s emphasis on function and participation in social life.

Domain of concern:

assisting people to engage in everyday life activities that they find meaningful and purposeful

Occupations

(activities) permit the patient to participate in desired roles and life situations in the home, school, workplace, and community.

______ is emphasized as the central characteristic of occupation.

Personal meaning

The framework is used by OTs as a way

of organizing and substantiating their work.

The framework can be applied to the care of

any person needing OT services.

Areas of occupation

ADLs

Bathing/showering
Bowel and Bladder management
Dressing
Eating
Feeding
Functional mobility
Personal device care
Personal hygiene and grooming
Sexual Activity
Toilet hygiene

IADLs

Care of others
Care of pets
Child rearing
Communication device use
Community mobility
Financial management
Health management and maintenance
Home establishment and management
meal pre and cleanup
Religious observance
Safety and emergency maintenance
Shopping

Rest and sleep

Rest
Sleep
Sleep Preparation
Sleep Participation

Education

Formal Educational participation
Informal personal educational needs or interest exploration
Informal personal education participation

Work

Employment interest and pursuits
Employment seeking and acquisition
Job performance
Retirement preparation and adjustment
Volunteer exploration
Volunteer participation

Play

Play exploration
Play participation

Leisure

Leisure exploration
Leisure participation

Social participation

Community
Family
Peer, friend

Performance skills

Motor and praxis
Sensory -perceptual
Emotional Regulation
Cognitive
Communication and social

Motor and praxis

Bending and reaching
Pacing
Coordinating
Maintaining balance
Anticipating or adjusting posture and body position
Manipulating

Sensory-perceptual

Positioning the body
Hearing and locating
Visually determining
Locating by touch
Timing
Discerning flavors

Emotional Regulation

Responding to feelings of others
Persisting despite frustration
Controlling anger
Recovering from disappointment
Displaying emotion
Utilizing coping strategies

Cognitive

Judging
Selecting
Sequencing
Organizing
Prioritizing
Creating
Multitasking

Communication and Social Skills

Looking
Gesturing
Maintaining acceptable space
Initiating and answering
Taking turns
Acknowledging

OT process consists of three dynamic and interactive phases:

Evaluation
Intervention
Outcome

Evaluation

Obtaining the client’s occupational profile
Analyzing the client’s occupational performance

Intervention

Selection of the occupational strategies to meet improve the functioning of the client
Identifying treatment goals and outcomes with the client

Outcome

Measuring the client’s progress toward meeting the treatment goals

Facilitating Growth and Development Model

Views the OT’s role as one “concerned with facilitating or promoting optimal growth and development in all ages of man” (p. 88).
Illness, disability, and trauma threaten an individual’s growth and development.

Table 7-3, Characteristics of Maturity Stage of Development

Neurophysiologic and physical development
Psychosocial: ego integrity and maturity
Psychodynamic
Sociocultural
Social language development
ADLs and developmental tasks
Ego-adaptive skills
Intellectual development

COTA’s Role

Assess the client’s developmental stage and potential disruptions in each adaptive skills area.
Analyze the collected data for effects on age-appropriate occupational performance in the areas of work, education, self-care, and play and leisure.

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Devise intervention strategies that facilitate development of a specific skill needed for successful occupational performance.
Sensory, developmental, symbolic, and daily life tasks
Interventions continue until the client reaches sufficient competence in performing the skills and activities described as developmentally appropriate.
Continue to monitor and reevaluate the client’s progress in improving, maintaining, or restoring areas of occupational performance.

Cognitive Disabilities Model

Applies to OT services designed for clients with cognitive impairments.
Cognitive impairments can result from psychiatric illness, medical disease, brain traumas, or developmental disorders.
In this model, “occupation” is synonymous with voluntary motor action (e.g., dressing, crafting, preparing a meal).
Observing a cognitively impaired client’s voluntary motor action gives insight into the relationships among the three domains.

Cognitive Disabilities Model- 6 cognitive levels

describe the way an individual relates matter, behavior, and mind demonstrated by his or her voluntary motor actions
Level 1: greatest degree of impairment
Level 6: normal performance

The COTA can use Cognitive Disabilities model to describe

client performance and to guide selection of activities or tasks that permit the client to function consistently at the greatest possible level.

Task Assessment by the COTA

Information is obtained from the client (if possible) and caregivers regarding the client’s most familiar tasks.
The client is observed performing activities and tasks that are part of his or her daily routines.
The OTR and COTA team can compare the performance with the characteristic behavior for each cognitive level.
Knowledge of the client’s optimal functioning (can also depend on the time of day) helps the team design intervention strategies that maximize the client’s abilities.

Tasks to Assess with Expanded Routine Task Inventory (RTI)

Grooming, dressing, bathing
Walking, exercising
Feeding, toileting
Taking medications, use of adaptive equipment
Housekeeping and doing laundry
Food preparation
Spending and managing money
Communication such as reading, writing, speaking
Following instructions, safety, responding to emergencies

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HISTORY

River Valley Civilizations

-Mesopotamia (Tigris and Euphrates rivers; southwest Asia/modern-day Iraq) - floods were unpredictable and destructive; flat plains invited invasion
-Egypt (banks of Nile River, Mediterranean and Red Seas; Northeastern Africa)
-India (Indus and Ganges rivers, Arabian Sea; southern Asia)
-China (Yellow River)

Ganges River

-In eastern India
-Sacred to Indians but was not the geographical river area that led to the development of Indian civilization
-Associated with the rise of the Mauryan Empire in 322 B.C.

Indus River

The earliest Indian civilization, the Harappa culture, developed around the Indus River Valley in 2500 B.C.

Mesopotamia: developments

-Writing (cuneiform)
-Organized government
-Written law code (Hammurabi’s Code)
-Systematized religion (Zoroastrianism)
-Astronomy; astrology

Egypt: developments

-Complex religion of gods, rituals, and governance (pharaoh)
-Writing (hieroglyphics)
-Engineering and building (pyramids)
-Mathematics

India: developments

-Urban culture
-Planned cities (i.e. citywide sanitation systems)
-Metallurgy (gold, copper, bronze, tin)
-Measurement (weight, time, length, mass)

China: developments

-Writing
-Commerce
-Government

The ancient Near East: geography

Comprised the Tigris and Euphrates Valley, the Fertile Crescent, and the Nile Valley.

The ancient Near East: cultural contributions

-The first system of independent states
-The first system of writing (cuneiform and hieroglyphics)
-The first massive architectural achievements (ziggurat and pyramid)
-The first lasting monotheism
-The beginning of science, mathematics, and astronomy
-The first codification of law

Mesopotamian civilizations

-The Sumerians
-The Babylonians
-The Hittites
-The Assyrians
-The Chaldeans
-The Persians

The Sumerians

-The creators of Mesopotamian civilization (3500-3000 B.C.)
-Used Tigris and Euphrates rivers for trade and commerce, as well as areas surrounding the Persian Gulf
-Material progress included large-scale irrigation projects, an advanced system of mathematics, and the invention of the wheel
-The ziggurat was the center of community life and served as a temple, storehouse, and treasury

The Babylonians

-Conquered Sumeria and established a new empire (2300-1750 B.C.)
-The code of Hammurabi was the first universal written codification of laws in recorded history (c. 1750 B.C.)
-Ahievements included a centralized government and advancements in algebra and geometry

The Hittites

-Conquered much of Asia Minor and Northern Mesopotamia (2000-1200 B.C.)
-A major contribution included the invention of iron smelting, which revolutionized warfare

The Assyrians

-Warrior nation; created an empire based on military superiority, conquest, and terrorism (911-550 B.C.)
-Empire origniated in the highland region of the upper Tigris rRiver but grew to encompass the entire area of the Fertile Crescent
-Military techniques included siege warfare, intimidation, and the use of iron weapons
-Created a centralized government, a postal service, an extensive library, and a system of highways

The Chaldeans

-Established the new Babylonian Empire under Nebuchadnezzar (605-538 B.C.)

The Persians

-Attempted to unify the entire Near East under one rule (500s B.C.)
-Established an international government
-Zoroastrianism, an ethical religion based on concepts of good and evil
-Failed to conquer the Greeks; Persia was eventually conquered by Alexander the Great (334-331 B.C.)

Smaller civilizations of the Near East

-The Phoenicians
-The Lydians
-The Israelites

The Phoenicians

-Became the first explorers, traders, and colonizers of the ancient world; their civilization reached its peak in 1000 B.C.
-Greatest seafaring civilization in the ancient world
-Developed extensive trade networks throughout the Mediterranean and set up distant trade networks and trading colonies such as Tyre and Sidon
-Invented the first true alphabet

The Lydians

-Occupied western Asia Minor (500s B.C.)
-Their culture reached its zenith under King Croesus (Golden King)
-Were responsible for the first coinage of money

The Israelites

-Established the first lasting monotheism
-Saul established the first kingdom in Palestine (c. 1030-1010 B.C.)
-After the death of Solomon (922 B.C.), the Hebrews were divided into two kingdoms (Israel and Judah)
-Disunity and conquest resulted in the destruction of Israel (722 B.C.) and Judah (586 B.C.)
-The revolt of the Israelites against Rome resulted in the destruction of Jerusalem (A.D. 70) and the forced dispersal of the Jews from Palestine (Jewish Diaspora, c. A.D. 132-135)

Egypt

-Established a civilization in the Nile Valley (3000 B.C.)
-Natural barriers (desert and sea), as well as its isolation from other civilizations, greatly hindered foreign invaders; spared them from the repeated political disruptions characteristic of Mesopotamia
-Its history can be broadly outlined in specific time periods that reflect the changes taking place in over a 3,000-year period

Egyptian civilization: significant aspects

-Life was dominated by concerns for the afterlife, religion, and the pharaoh
-Medical advances and specialized surgery were major contributions
-The Egyptians invented a hieroglyphic writing system
-Commerce flourished throughout Arabia, India, and part of Africa
-Agriculture was the basis of the economy
-Monumental architecture reflected remarkable building and engineering feats, as well as mathematical precision
-Annual flooding in the Nile was the basis for the sustained economy; the Nile had an impact on all of Egyptian society

Greece: geography

-Rugged landscape of mountains and valleys, scattered islands led to the development of independent city-states (polis) rather than one unified empire
-Scarcity of good agricultural land encouraged seafaring in eastern Greece
-The southern mainland, with adequate agricultural resources, relied on farming

Minoan civilization

-An Aegean civilization
-Civilization of Crete (c. 4000-1400 B.C.) based its prosperity on extensive commerce

Mycenaean civilization

-Centers of Aegean civilization; depended on the Aegean Sea to develop and extend their culture
-(c. 2000-1150 B.C.) developed heavily fortified cities and based prosperity on trade and warfare
-The Dorians conquered the Peloponnesus (peninsula of southern Greece) and ushered in a “dark age” characterized by violence and instability
-Iona became the birthplace for the Hellenic civilization

Athens

-Athens and Sparta were the most important city-states in ancient Greece; both developed a unique culture and distinct political structure

-Established the world’s first democracy (c. 507 B.C.), developed democratic institutions
-The Age of Pericles (460-429 B.C.) represented the zenith of Athenian society and the height of its democracy
-Developed philosophy as represented by Sophocles and Socrates; the Socratic method of teaching developed during this period)
-Became a world commercial center and cosmopolitan city

-After defeating the Persians, conflict between Athens and Sparta dominated Greek politics

Sparta

-Athens and Sparta were the most important city-states in ancient Greece; both developed a unique culture and distinct political structure

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-Developed a totalitarian and militaristic state dependent on slave labor to sustain its agricultural system; state owned most of the land
-Warrior state, dependent on a superior military (result of constant threat of rebellion)
-Essential for Spartans to be subservient to the interests of the state in order to maintain power
-The purpose of government was to keep up the military strength of the state
-The rigid structure of Spartan society allowed the Spartans to rule even though Spartan citizens were outnumbered by noncitizens by about 10 to 1
-Large families discouraged
-At birth, all Spartan males belonged to the state; by age seven, boys enrolled in military-style camps
-Spartan way of life extended to mothers examining newborn children to determine of they were healthy; those that were not were left to die

The Peloponnesian War

-431-404 B.C.
-Devastated Sparta, Athens, and their Greek city-state allies
-Sparta was victorious but unable to unite the Greek city-states
-Greek individualism was a catalyst in the collapse of the Greek city-state alliances

Alexander the Great

-356-323 B.C.
-Of Macedonia
-Established the Hellenistic Age
-Conquered Persia, Asia Minor, and Egypt; established a world empire
-Bureaucracy replaced the city-state as the form of government
-Following his death, dynasties were established in Macedonia, Egypt and Persia

The Hellenistic Age

-Began with the death of Alexander the Great
-323-30 B.C.
-Fusion of Greek and Eastern cultures
-A time of great economic growth and expansion; an increase in international trade and commerce
-Rise of cities; Rhodes, Alexandria, and Antioch replaced Athens in commercial importance
-An end to the Greek city-state system as a major political entity

Contributions of the Greek World

-4000-323 B.C.
-Organized warfare: Mycenae (military stronghold), Sparta, phalanx (military formation
-Literature: epic poetry (Iliad, Odyssey), plays (drama, tragedy, comedy)
-History: Herodotus (historian who reported the Persian Wars), Thucydides (historian who reported the Peloponnesian War)
-Architecture: columns and colonnades (sequence of columns), Parthenon
-Arts: theater, sculpture, decorative pottery
-Government: democracy (Athens), oligarchy (small group of people in power—Sparta), bureaucracy (Alexander the Great), a system of law to improve society
-Other: founded most of the major philosophical schools, established the systematic basis for the scientific method, and perfected advances in shipbuilding and commerce

The Roman Republic

-509-27 B.C., started after Etruscan control was overthrown
-Society was divided into the patricians (propertied class), plebians (main body of Roman citizens), and slaves
-Government was based on consuls, the Senate, and the Centurial Assembly
-Roman army became the most powerful military organization in the world

The Punic Wars with Carthage

-146 B.C.
-After which Rome emerged as the dominant power in the Mediterranean
-Rome incorporated Greek culture into its empire
-Roman expansion resulted in a world republic

The Roman Republic: decline

-Ravaged by economic and political decline and repeated civil wars
-Caesar was assassinated in 44 B.C.
-Augustus became the first emperor of the Roman Empire (27 B.C.)

The Roman Empire

-Lasted five centuries
-The Pax Romana (Roman peace) was two centuries without a major war (27 B.C.-A.D. 180)
-By the end of the second century A.D., Rome was in economic and political decline, which weakened the empire

Constantine

-Attempted to stem the tide
-The empire split into the Western and Eastern Roman Empires
-Barbarian invasions by Germanic and Asiatic tribes (the Goths, Vandals, and Huns) devastated Rome, and it fell in A.D. 476
-The Eastern Roman Empire at Constantinople (formerly Byzantium) remained intact; survived until 1453 (foundation of the Byzantine Empire)

The Fall of Rome

-Immediate cause: continuous barbaric invasion
-Internal factors included political instability, decreasing farm production, inflation, excessive taxation, and the decline of the military, including the use of mercenaries
-The rise of Christianity divided the empire

Rome’s political problems

-No formal system in place to choose Roman emperors; some chosen directly by the emperor, others were heirs to the throne, others were able to buy the throne
-Informal and corrupt process of succession resulted in weak and ineffective rulers and many political assassinations
-By the end of the fifth century, the emperors were so weak that they were the puppets of the military, often bribing the army to stay in power

Rome’s economic problems

-Emperors repeatedly raised taxes to support the ever-increasing needs of the army
-Created tremendous burdens on the population, with the common people being most affected
-Continual economic crises resulted in a rise in poverty and unemployment
-Trade and commerce, keystones in stabalizing the Roman economy, declined
-The government reduced the value of the coins in circulation, which caused runaway inflation
-With money worthless, business was hurt, crime increased, and political instability worsened

Roman contributions to the western world

-Law (greatest contribution): rule of law/equality before the law, civil and contract law codes
-Engineering and architecture: concrete, arch, roads (200,000 miles of roads), aqueducts and cisterns, monumental buildings (the Colosseum)
-Culture: history, literature (Virgil’s Aeneid, Ovid’s Metamorphoses), rhetoric (the art and study of the use of language with persuasive effect)
-Continued the Greek tradition in literature, art, sculpture, and the humanities

Jesus of Nazareth

-Born around 6 B.C. in the Roman province of Judea
-Became an influential rabbi
-His death by crucifixion and resurrection as the Christ (Greek for messiah) were writings in the Gospels

Christianity: basic doctrines

-Began with the teachings of Jesus of Nazareth (compassion for the poor and downtrodden)

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-Emphasized the Holy Bible as the word of God, the sacraments as the instruments of God’s grace, and the importance of a moral life for salvation
-Paul of Tarsus (Paul the Apostle), an early Jewish convert to Christianity, was responsible for the spread of Christian theology and the resulting response from the Roman empire (opposition/resistance; Christianity firmly rooted in the collapsing world of Roman rule)

Reasons for the spread of Christianity (the Roman period)

-Individual conviction in one’s beliefs (solidarity) had grown during the Roman persecution period
-The efficiency and organization of the early church administration
-Doctrines that stressed equality and immortality
-Teachings and doctrines developed by “Church Fathers” such as Augustine were granted a foothold in both the western and eastern worlds
-The conversion of Constantine to Christianity (A.D. 313)
-The establishment of Christianity as the official Roman religion (A.D. 380)
-The establishment of the supremacy of the pope at the time imperial Rome was disintegrating

Constantinople

-Established at Byzantium by Emperor Constantine as a “New Rome” in the East in A.D. 330
-Strategically located (where Europe and Asia meet), had excellent defensible borders, and was a crossroads of world trade
-With the fall of Rome/collapse of the western empire (A.D. 476), the Eastern Roman Empire became known as the Byzantine Empire; became the heart of the Roman imperial system
-Lasted 1,000 years, until A.D. 1453

Reasons for the Byzantine Empire’s success

-Economic prosperity was based on domination of the commercial trade routes controlled by Constantinople and a monopoly of the silk trade
-The Byzantines made excellent use of diplomacy to avoid invasions, and they were geographically distant from the tribes who sacked Rome
-Codification of Roman law by Justinian (A.D. 528-565) strengthened the bureaucracy

Reasons for the decline of the Byzantine Empire

-Its geographic proximity to the Arabs, Slavs, and Seljuk Turks, all of whom were becoming more powerful
-The loss of commercial dominance of the Italians
-Religious controversy with the West and a subsequent split with the Roman Catholic Church
-The sack of Constantinople during the fourth Crusade

Achievements of the Byzantine Empire

-Greek language and cultural accomplishments preserved
-Center for world trade and exchange of culture
-It spread civilization to all of eastern Europe
-Codification of Roman law (“Justinian Code”)
-It preserved the Eastern Church (“Greek Orthodox”), which converted Slavic people to Christianity
-Its economic strength was based on the stability of its money economy
-New focus for art; glorification of Christianity

Mohammed

-A.D. 570-632
-Emerged from the deserts of Arabia; appeared as a messenger of God (Allah) and a prophet of Allah’s monotheistic faith
-According to Islamic traditions, Mohammed was last in a line of prophets that traced back to Abraham and included Jesus
-Working to unite the disparate tribes of Arabia under the articles of a single faith, Mohammed managed to conquer and bring most of the Arabian Peninsula under his control by the time of his death in A.D. 632
-Under his successors, the conquest of surrounding regions in the name of Islam brought the lands of Mesopotamia, Persia, and all of North Africa and southwestern Asia into the Muslim fold, creating a vast Islamic empire

Islam

-Based on the teachings of Mohammed
-The spread of Islam started in the seventh century A.D.
-The Koran became the center for Islamic moral and ethical conduct
-Mohammed established a theocracy based on Islamic law

Arabs

-The Muslim empire was ruled by Arab caliphs
-Arabs conquered much of the Byzantine and Persian empires (including North Africa) and Spain

Division of the Muslim Empire

-The Abbasids overthrew the Umayyads—the capital moved from Damascus (Syria) to Baghdad
-Iberian and North African Muslims broke with Baghdad’s control

Turks

-Assumed leadership of the Muslim world
-The Seljuks fought with the crusaders and regained lost land
-Mongols invaded the eastern Muslim Empire
-The Ottoman Empire expanded territory and lasted for many centuries
-Constantinople was the center of the Ottoman Empire
-By the middle of the 16th century, the Ottomans controlled not only Turkey but most of southeastern Europe, the Crimea, Iran, and a majority of the Middle East
-By the 19th century, he Ottoman Empire was contemptuously referred to as the “Sick Man of Europe” and depended on English intervention, especially directed against Russia, for its political survival

Russia and the Ottoman Empire

-Landlocked, did not have a geographical outlet to the Mediterranean
-The Ottoman Empire was centered in Turkey, whose borders include the Black Sea (north) and the Mediterranean Sea (south)
-Historically, a characteristic of Russian foreign policy from the 17th century onward was to obtain permanent access to the Mediterranean
-A port on the Black Sea would allow Russia to better control its own destiny
-Britain and other European countries prevented the territorial expansion of Russia in the direction of Turkey (European objective was the to maintain the current balance of power)
-The most notable attempt by Russia to upset the balance resulted in Russian defeat during the Crimean War (1853-56)

Islamic civilization: government and religion

-Arabs preserved the cultures of the peoples they conquered
-Religious pilgrimages led to the spread of new ideas
-The caliphs improved farming methods and crop yields
-Military expansion also served as a vehicle for cultural exchane between the Arab and western worlds

Islamic civilization: trade and cultural expansion

-Trade and commerce led to a high standard of living in cities
-Muslim trade helped spread Islamic culture to foreign lands
-Many factors helped trade expand, including no taxation and strong banking practices
-Ibn Battuta (Islamic scholar, A.D. 1305-1368) spread Islamic culture by traveling widely

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Muslim contributions

-Institutions: hospitals, medical schools, libraries, universities
-Agriculture: cash crops, crop rotation
-Mathematics: algebra, algorithms, Arabic numerals, decimal point
-Globalization: exploration, work of scholars, trade (Atlantic, Mediterranean, Indian Ocean, China Sea)
-Science: methodology, theory and experimentation, astrolabe (astronomical instrument used to locate and predict the positions of the sun, moon, planet and stars), alchemy
-Arts: calligraphy, illuminated manuscripts, glazed pottery, Persian and Arabian mythology
-Medicine: forceps, bone saw, scalpel, surgical needle
-Technology: mechanical clocks, pointed arch, stained glass, windmill
-Poetry, philosophy, literature

The Early Middle Ages

-c. A.D. 500-1000
-Dark Ages: A.D. 500-800
-The collapse of Rome and sweeping advances of Germanic and Viking raiders, Europe entered a time of chaotic political, economic, and urban decline
-A struggle back toward stability

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Role of the Church in the Early Middle Ages

-As the Western Roman Empire was under relentless attack from barbarian tribes, people looked to the Church for salvation
-The Church became the preserver of civilization and its unifying force in both political and religious life
-Church entered into feudal contracts and became an extensive landholder; at one point, the Church owned approx. 1/3 of the land
-Europe was referred to as “Christendom”
-Both the Christian Church and local nobles exercised their authority to form a new kind of society, creating the foundation for a politically reorganized Europe of competing nation-states

The Franks

-Became the dominant Germanic tribe
-Clovis, king of the Franks (A.D. 481-511), was converted to Christianity
-Domestic feuds and civil war broke out among the Merovingians (A.D. 561)
—Political power shifted away from the monarchy
—Charles Martel (Frankish military/political leader) halted the Muslim advance into Europe at the Battle of Tours (A.D. 732); Martel’s victory helped preserve western civilization

The Carolingians

-Replaced the Franks as legitimate rulers
-Pepin the Short (A.D. 747-768) was appointed by the pope as king and established the Papal States on former Byzantine lands
-Charlemagne (A.D. 768-814) dominated the political structure of the early Middle Ages
—He was crowned “Emperor of the Romans” by Pope Leo in A.D. 800 and had a major impact on the history of Europe
—He revived the concept of the Holy Roman Empire and established authority over secular rulers
-His empire included most of the former Roman Empire and additional Germanic lands between the Rhine and Elbe rivers
—The Carolingian Renaissance resulted in the establishment of a palace academy with a prescribed academic curriculum

Dissolution of the Frankish Empire

-Hastened by the Frankish system of inheritance
-The Treaty of Verdun (A.D. 843) divided Charlemagne’s empire among his three grandsons
-Carolingian rule ended in the 10th century because of the decline in central authority and the invasions of the Scandinavian tribes

The Viking (Norse) invaders

-Pillaged the coasts of Europe in the 8th century
-The Danes were responsible for the major invasions of England
-Alfred the Great (A.D. 871-99) established the English kingdom after stemming the Danish invasions
-In France, the Carolingian king was forced to cede Normandy to the Vikings

The feudal system

-The government system and basis for society in the Middle Ages
-The system was based on land ownership; person who was allowed by a lord to use his land was called a vassal and the land was called a fief
-There were no formal countries, but the fiefdom held economic and political power
-Under feudalism, political authority was dominated by the land-owning nobility
-In return for protection against invaders, vassals were expected to be loyal to the landowner
-Manorialism was the agricultural organization and economic foundation of feudalism

Feudalism: political

-Hierarchical and interdependent
—Church
—Lords/nobles
—Vassals/lesser lords
—Knights
—Peasants (free and serfs)
-Grants of land given by lords in exchange for oaths of loyalty
-Private armies of vassals and their knights protected lords and their lands
-Peasants owed labor and obedience
-All owed loyalty and obedience to the Church

Feudalism: economic

-Manor estates
—Owned by lords
—Peasant serfs given land to work in exchange for percentage of crop
—Free peasants worked as skilled laborers
—Dues and fees charged for tenancy, use of roads, bridges, etc.

Feudalism: outcomes

-Political outcomes: stability, leading lords emerged as kings, foundation for nation-states
-Economic outcomes: self-sufficiency, foundation for urbanization
—Productive surpluses and specialization of skills would lead to trade
—Trade would lead to growth of towns and cities
-Christian value system institutionalized by the Church

The Later Middle Ages

-c. 1000-1500

France during the later Middle Ages

-The rise of feudal monarchs resulted in the development of the nation-states of France
—By the early 13th century, royal authority had expanded and France had become a European power
—Conflicts with the pope over the extent of religious rule resulted in an increase in the authority of the monarch

England during the later Middle Ages

-The Norman Conquest (invasion of England by William the Conqueror, duke of Normandy) had a profound impact on the development of the culture, language, and judicial system of England
—The Battle of Hastings (1066) ended Anglo-Saxon rule in England
—By the 12th century, English common law was firmly established
—The Magna Carta (1215) limited the power of the king; it is the most important document in English constitutional law
—By the 14th century, the English Parliament was firmly established

The Magna Carta

-In 1215, King John was forced by the nobles to sing the Magna Carta
-Limited the power of the king and increased the power of the nobles
-Key provisions: King’s authority limited by law, rights of the king’s subjects declared (i.e. habeas corpus), respect for legal procedures
-Modern influence: constitutionalism/importance of a written constitution, individual rights, due process of the law, concept of a representative government, taxation with representation, trial by jury
-Would later be a significant influence on the American Constitution

English Parliament

-Firmly established by the 14th century
-Gained power at the expense of the king
-Composed of the House of Lords (titled nobility) and the House of Commons (gentry and middle classes)

Spain and Portugal during the later Middle Ages

-The Reconquista reestablished Christian control over Muslim Spain in 1492, Portugal in 1250
—The Spanish state was marked by strong, absolutist rule
—The monarch instituted inquisitions and also expelled the Jews

The Holy Roman Empire during the late Middle Ages

-The pope was dominant in religious matters and the monarch in secular matters
-A continuing power struggle evolved between the papacy and the secular ruler during the late Middle Ages

Characteristics of medieval civilization during the late Middle Ages

-Class division of society
-The decline of feudalism and manorialism
-The commercial revival
-Education
-Philosophy
-Architecture

Characteristics of medieval civilization during the late Middle Ages: society

Society was based on a strict class division: clergy and nobility were the privileged class, peasants and artisans were the work force, and serfs were tied to the land

Characteristics of medieval civilization during the late Middle Ages: feudalism/manorialism

The decline of feudalism and manorialism was evident by the 12th century and complete by the 16th century

Characteristics of medieval civilization during the late Middle Ages: commercial revival

The commercial revival led to the rise of towns.
-A true middle class emerged
-Economic activities in the towns were supervised by the guild system (merchant and craft guilds)
-The Crusades led to the revival of international trade

Characteristics of medieval civilization during the late Middle Ages: education

Education stressed the liberal arts.
-Theology influenced both religion and politics
-Universities were created in Paris, Oxford, and Cambridge during the 11th and 12th centuries
-Latin was the language of intellectual Europe; vernacular was used by the 12th century.

Characteristics of medieval civilization during the late Middle Ages: philosophy

Philosophy (Scholasticism) dealt with the consistency of faith and reason

Characteristics of medieval civilization during the late Middle Ages: architecture

Architecture was dominated by the Romanesque (11th-12th century) and Gothic (13th-15th century) styles

Historical interpretations of the Middle Ages

-A period of transition between ancient and modern Europe
-Unique with a distinctive culture; out of feudal customs and traditions that included Greek and Roman classical culture, influences from the Arab world and the East, and tenets of Judeo-Christian belief, evolved a modern Europe and the foundations of Western civilization emerged

The Renaissance

-c. 1350-1600
-The revival of intellectualism, literature, philosophy, and artistic achievement
-Spread westward and into northern Europe
-Continued the road started in the Middle Ages that would lead to modern Europe

Development of the Renaissance

-Began in Italy during the 14th century
-Conflicts between the papacy and the Holy Roman Empire in the 13th and 14th centuries resulted in regional autonomy (independent/self-government) for the Italian city-states
-The heritage of the Greek and Roman civilizations contributed to the development of the Italian Renaissance
-The Crusades focused attention eastward (on Greece and the Near East)
-By the 14th century, the move toward secularization was predominant

Literature and Philosophy

-Reflected the new secular trends
-Humanism stressed the importance of the individual
-Machiavelli’s “The Prince” stressed that “the ends justify the means” as a political philosophy

The spread of the Renaissance throughout Europe

-The Renaissance of northern Europe emphasized the teachings of Christianity and placed less reliance on humanism
-The French Renaissance reflected a democratic realism
-The English Renaissance did not flower until the Elizabethan Age

General characteristics of the Renaissance

-The emphasis was on man rather than God
-There was a reawakening or rebirth of classical models
-The ideal of the “universal man” was widely held

Renaissance—Rebirth of Classical Greek and Roman Culture

-Works of Greeks and Romans reconnected Europeans with their ancient heritage
-Emphasis on “humanism”
—Progress through rational thought
—Universal nature of the human condition
-Secularism
—Writings of the Greek and Roman philosophers and commentaries on their works
—Free politics and governance from Church control
-Realism and formalism
—Art that emphasized the lives of everyday people realistic rather than idealized depictions
—Architecture based on Greek and Roman forms

The (Protestant) Reformation

-Renaissance secularism created tension between princely kingdoms and the authority of the Church
-There also emerged within the Church questions about its worldly rather than spiritual interest in acquiring power and wealth
-This internal struggle led to a rift in the Church, the rise of Protestant faiths, and more than a century of religious warfare

Reasons for the Reformation

-Dissatisfaction with church ritual and Latin overtones
-Humanism emphasized man’s needs and concerns
-The printing press allowed mass communication (Luther’s 95 Theses were translated, widely copied, distributed throughout Europe)
-Luther’s excommunication

Martin Luther

-1483-1546, Northern Germany
-Rejection of hierarchical priesthood and papal authority
-Questioned the right of the pope to grant indulgences (full or partial remission of temporal punishment due for sins which have already been forgiven)
-Salvation through faith rather than sacraments
-Luther’s “Ninety-five Theses” served as a catalyst in starting the Reformation
-Luther’s excommunication initiated the Reformation; Lutheranism developed its own following
-Lutheranism decentralized religious authority; allowed for a state church system controlled by individual local German princes

John Calvin

-Geneva, Switzerland
-The Doctrine of Predestination (God willed eternal damnation for some people and salvation for others) was central to Calvinistic belief
-Rejection of all forms of worship and practice not traced to Biblical tradition
-Calvinism became a revolutionary anti-Catholic movement
-Basis of “Reformed Churches,” which spread throughout Europe; Calvinism made Protestantism an international movement

The English Reformation

The First Act of Supremacy (1534) marked the beginning of the English Reformation.
-The king of England, Henry VIII, became the head of the church
-The pope’s refusal to annul the marriage of Henry VIII to Catherine of Aragon initiated the break (political rather than religious break with the Church)
-Created the Anglican Church of England
-Elizabeth I (1558-1603) firmly established Protestantism in England and secured the Anglican Church

The Counter Reformation

-Also known as the Catholic Reformation
-Attempted to halt the spread of Protestantism
-The Jesuits (Society of Jesus) became the first official Catholic response to the Reformation; Jesuits also initiated missionary and educational endeavors
-The Council of Trent (1545-63) defined the doctrines of Catholicism and reinforced papal authority

Effects of the Reformation

-The medieval political unity of Europe was replaced by the spirit of modern nationalism
-The authority of the state was strengthened
-The middle class was strengthened
-Calvinism gave capitalism its psychological base
-Religious wars reflected the fervor of the times

The Age of Reason/Enlightenment

-The disintegration of traditional feudal loyalties, the rise of powerful monarchies, and the collapse of a single religious doctrine caused European intellectuals to think about new ways of unifying and governing nation-states
-Their exploration of new ideas in the “Age of Reason” was encouraged by the exciting processes and discoveries of the scientific revolution

Philosophy influenced by the Age of Reason

-Christianity and church dogma were questioned
-The proper function of government was defined by Voltaire, Montesquieu, Locke, and Rousseau. Their ideas led to the philosophical bases for the American and French revolutions.
-In economics, the doctrine of “laissez faire” (limited government intervention in business affairs) stood in opposition to regulated trade
-Adam Smith wrote the “Wealth of Nations” (1776) and advocated manufacturing as the true source of a nation’s wealth (the laws of the market place and not government regulations dictate national economies); considered the father of modern economics

John Locke

-An English philosopher
-Believed that people made a contract with their government to protect natural writes
-Wrote about the inalienable writes to life, liberty, and the pursuit of happiness
-His political ideas had a dramatic impact on the development of democratic political thought in the late 18th century; influenced both the United States “Declaration of Independence” (1776) and the French “Declaration of the Rights of Man and Citizen” (1789)
-Stood in direct contrast to absolutism, the prevailing doctrine of the time

Absolutism

-Refers to the absolute rule of monarchs with unlimited power
-The theory of absolute monarchs and the divine right of kings (rule by God’s will)
-Evolved from the limited power of the ruling class during the Middle Ages to the Age of Absolutism in the 16th-18th century

Enlightened despotism

-Also called enlightened absolutism
-Grew out of the earlier absolutism of Louis XIV (France) and Peter the Great (Russia)
-Advocated limited responsibility to God and church
-A form of absolutism in which rulers were influenced by the Enlightenment

Neoclassicism

-Dominated the culture of the 18th century
-There was an attempt to revive the classic style and form of ancient Greece and Rome
-In literature, the novel was the outcome; in architecture, the Rococo style was dominant
-In music, Haydn and Mozart emphasized the Classical era’s formal symmetrical structures, simple rhythms, and tuneful melodies. Beethoven influenced both the Classical and Romantic periods.

The Scientific Revolution

-Transformed society and changed the way people looked at the natural world
-In doing so, science came into direct conflict with the teachings of the Church
-Began in the 16th century
-Important people: Nicolaus Copernicus, Galileo Galilei, Johannes Kepler, Isaac Newton

Nicolaus Copernicus

-Astronomer
-Challenged the Church doctrine of a geocentric (earth-centered) theory of the universe (Ptolemy’s theory; was the prevailing thought for more than 1,000 years)
-Believed that the sun was the center of the solar system, and the earth moved around it
-Proposed and published his heliocentric (sun-centered) theory
-Theories were rejected by the Catholic Church

Galileo Galilei

-Mathematician, physicist, astronomer
-With a telescope, provided the first observational evidence in support of Copernicus
-Observed the phases of Venus; discovered the four largest moons of Jupiter; observed and analyzed sunspots
-Was questioned before the Inquisition, the primary purpose of which was to eradicate heresy and strengthen the Catholic Church
-In 1633, fearing execution, he recanted the heliocentric view of the solar system

Johannes Kepler

-Mathematician, astronomer
-Believed God had created the world according to an intelligible plan and that man could understand this plan through application of reason
-“Three laws of Planetary Motion”—mathematical calculations regarding planetary orbits that supported heliocentric theory (the motion of planets around the sun)

Isaac Newton

-Mathematician, physicist, and astronomer
-The most influential scientist of the Enlightenment
-Described universal gravitation and the three laws of motion, which dominated the scientific view of the physical universe for the next three centuries
-Showed that the motions of objects on Earth and of celestial bodies are governed by the same set of natural laws, by demonstrating the consistency between Kepler’s laws of planetary motion and his theory of gravitation; thus removing the last doubts about heliocentrism and advancing the Scientific Revolution

The French Revolution

-Began as an attempt by the leaders of the industrial and commercial classes to end the injustices of the French monarchy
-Rallying cry of the French Revolution, “Liberty, Equality and Fraternity,” led to a Reign of Terror against the aristocracy
-The fall of the Bastille on July 14 marks France’s 4th of July
-Napoleon Bonaparte rose to power at a time of renewed social unrest in France

Background to the French Revolution

-An inequitable class structure was the basic cause of the revolution
-A disorganized legal system and no representative assembly added to the problems of the government
-Enlightenment philosophy influenced the middle class
-The bankruptcy of the French treasury was the immediate cause of the revolution
-The “Declaration of the Rights of Man and Citizen” (influenced by Locke’s ideas) defined enlightenment concepts of national law and the sovereignty of the people

Napoleon and the First Empire

-Military and political leader during the later stages of the French Revolution
-Emperor of the French from 1804-1815
-His legal reform, the Napoleonic Code, has been a major influence on many civil law jurisdictions worldwide
-Best remembered for the wars he led against a series of coalitions, the Napoleonic Wars, during which he established hegemony over much of Europe and sought to spread revolutionary ideals

Napoleon and the First Empire: domestic reforms

-Domestic reforms resulted in a more efficient government.
-The Napoleonic Code:
—No privileges/tax exemptions based on lineage
—Government promotion was based on ability
—Modernized French law (equality before the law)

Napoleon and the First Empire: international relations

International relations placed France against Europe.
-Napoleon won territory from the Holy Roman Empire and forced Spain to cede the Louisiana territory to France
-The “continental system” was a failed French attempt to close the continent to British trade in hopes of destroying the British economy
-The Battle of Waterloo (1815) ended in defeat for Napoleon and ended the French Empire; Napoleon was permanently exiled to St. Helena

Causes of the Industrial Revolution

-The scientific revolution brought about new mechanical inventions
-The availability of investment capital and the rise of the middle class provided an economic base
-Geographic and social conditions in England favored industrialization:
—The cotton textile industry was well established
—Britain was a colonial and maritime power and was able to easily ship products; rivers provided the necessary waterpower to run machinery
—England had abundant reserves of coal and iron
—The necessary labor force was in place following the enclosure movement that forced thousands of people from rural land to cities
—Investment capital supplied by a burgeoning middle class provided money to purchase equipment for the emergent factories

Results of the Industrial Revolution

-A dramatic increase in productivity and the rise of the factory system
-Demographic changes (from rural to urban centers)
-The division of society into defined classes (propertied and nonpropertied)
-The development of modern capitalism

Capitalism

-Profits linked to the manufacturing of products
-Private ownership of land
-Freedom of choice
-A competitive free-market system
-Limited government restraints

Social Darwinism

-Expanded Darwin’s theory of evolution to include society as a whole
-Darwin, in “On the Origin of Species” (1859), theorized that evolution is a continuous process in which successful species adapt to their environment in order to survive
-The social Darwinists viewed society as a “struggle for existence”; only the “fittest” members of society would survive
-The accumulation of wealth was considered a visible sign of a successful adaptation, and virtue and wealth became synonymous
-For social Darwinism to succeed, it was thought that a free and open economic system was needed
-Capitalism was regarded as the “natural environment” in which “survival of the fittest” could be tested
-The social Darwinists also believed that some races were superior to others, that poverty indicated unfitness, and that a class-structured society was desirable

The intellectual response to the Industrial Revolution

-The classical economists advanced the theory of laissez faire
-Thomas Malthus (1776-1834) theorized that population growth would far outstrip food production
-The revolutionary socialism of Karl Marx advocated a violent overthrow of the present economic system
—History was seen as a class struggle between the exploiters (bourgeoisie) and the exploited (proletariat)
—“The Communist Manifesto” (1848), written by Marx and Friedrich Engels, advanced the theories of modern scientific socialism

Inventions of the Industrial Revolution

-Manufacturing: flying shuttle
-Birth of the factory system: spinning jenny, water frame, spinning mule, watt steam engine, power loom, cotton gin
-Iron-making: coke smelting, grooved rollers
-Transportation: steam locomotive, steamboat

Flying shuttle

-1733
-Increased the speed of weavers

Spinning jenny

-1764
-Increased the speed and output of yarn spinners

Water frame

-1764
-Introduced the first power-driven machine to manufacture cloth

Spinning mule

-1779
-A power-driven machine that produced fine, strong yarn

Watt steam engine

-1785
-Meant that factories were no longer dependent on water sources for power

Power loom

-1785
-Led to faster production of cloth

Cotton gin

-1792
-Made it possible to meet increased demand for cotton by mechanizing the process for separating seeds from cotton fiber

Coke smelting

-1760
-Improved production of iron

Grooved rollers

-1783
-Allowed iron-makers to roll out iron into different shapes

Steam locomotive

-1804
-Used initially to haul freight at coal mines and ironworks
-The steam engine was used to develop it

Steamboat

-1807
-Built by American inventor Robert Fulton
-The steam engine was used to build it

The topography of Africa

-Mainly composed of three regions: desert, savanna, and tropical rainforest
-The Sahara desert dominates the continent (covers most of northern Africa)
-Trade and commerce were connected to the geographical potential of the area

Africa’s geological diversity

-Four rivers (Nile, Congo, Niger, and Zambezi) were important to Africa’s economic history
-Egyptian civilization developed in the Nile Valley
-Africa above the Sahara (Northern Africa) is often associated with Arab influence
-The irregular coast line (no natural harbors) of the African continent restricted European exploration

Ancient Africans’ advances in their societies and cultures

-Lineage was the basis of tribal organization
-Religion, politics, and law became the focus of African culture
-Art and sculpture were emphasized

Famous empires that grew in the West African savanna

Ghana, Mali and Songhai

The East African Coast

-Saw the development of city-states
-East African civilization was based on international trade and seaport cities
-Swahili culture developed its own language and thrived in the city-states
-The Portuguese destroyed much of the East African trade after 1500

The Kingdom of Zimbabwe

-Developed in the interior of the continent
-Grew from an iron-working settlement
-Huge stone structures were constructed
-Economy was based on the gold trade

Islam in Africa

Stimulated new states of West Africa and spread Islamic culture and religion

The forest states

-Developed strong governments
-Benin grew wealthy and powerful until European contact threatened society
-Slave trade produced wealth for the cities and the expansion of the slave trade extended into Africa’s interior
-Trade, taxes, and a powerful government resulted in Asante becoming a strong state

Origins of people in America

-20,000-30,000 years ago, during the last Ice Age, the first humans crossed over the Bering Sea land bridge into the Americas
-As they migrated southward, they inhabited the hemisphere from Alaska to Tierra del Fuego
-Their widespread dispersion led to a diversity of languages and cultures, the most advanced of which were located in Mesoamerica and South America

Mesoamerica

The region that is now Mexico, Central America, and the western coast of South America

American Indian culture

-Developed over many centuries
-The first American Indians originated from Asia
-Agriculture changed some Indian culture from a nomadic existence to farming communities

North American Indians

-The Hopewell people were skilled farmers and flourished in the Ohio and Mississippi valleys (200 B.C.-A.D. 400)
-Mississippian culture developed in A.D. 800 and built large religious mound structures
-The Anasazi culture (A.D. 800-1300) developed in the Southwest; the Anansazi were skilled builders (Mesa Verde cliff houses) and sophisticated farmers
-The Pueblo Indians inhabited the Southwest after the Anasazi and built extensive adobe cities

Early cultures in Mesoamerica

-The Olmec
-The Mayas
-The Aztecs
-The Incas

The Olmec

-1200-400 B.C.
-South-central Mexico
-Developed one of the first civilizations in Mesoamerica
-Developed an agricultural community
-Developed the first calendar in America
-Noted artwork in many media (jade, clay, basalt, and greenstone)
-Monumental sculpture (colossal heads)

The Mayas

-A.D. 250-900
-Yucatan peninsula
-Achieved a complex civilization
-Maya cities were trade and religious centers
-The Mayas excelled in many fields, including mathematics, science, astronomy, and engineering (pyramid building)
-Only known written language of pre-Columbian Americas
-Sophisticated art

The Aztecs

-A.D. 1325-1521
-Central Mexico
-Conquered much of central Mexico
-The Toltecs preceded the Aztecs
-The Aztecs built a great city (Tenochtitlan) and ruled an empire
-Religion and war dominated Aztec life
-Rich mythological and religious traditions
-Architecturally accomplished (city planning, Great Pyramid of Tenochtitlan, temples and palaces)
-Artistically advanced

The Incas

-A.D. 1200-1533
-Northwest coastal region and inland region of South America (Peru)
-Controlled a vast empire in South America
-The Tiahuanaco culture developed in the Andes Mountains and the Incas unified an extensive empire
-The Incas developed a sophisticated record-keeping system and were highly skilled craftsmen
-Engineering/architecture (Machu Picchu, stone construction without mortar, extensive road system linking empire together)
-Art (gold and silver working, ceramics, textiles)

Impact of Spanish Exploration and Conquest on Indigenous People of the Americas

-Disease devastated native populations
—Smallpox, measles, typhus
—From Mexico, spread into the American southwest and southward toward the Andes
—From 1520-1620, 20 million dead
—Conquest aided by weakening of native forces
-Aztecs conquered by Cortes in 1521
-Inca Empire conquered by Pizarro in 1513
-Mass transfer of wealth (gold and silver) from the Americas to Spain
-End of political and economic independence—organized for labor within the Spanish economic system
-Loss of native culture
-Conversion to Christianity

India under Muslim rule

-Muslims controlled India for centuries
-Muslim invaders came into India in the 11th and 12th centuries and created kingdoms in the north
-The Delhi Sultanate was the most powerful (1206-1526)

Hinduism

-Considered one of the world’s major religions and has influenced religious, political, and social thought for over 4,000 years
-Originated in the Indus River Valley of India and primarily spread to and throughout southeast Asia
-Four key beliefs:
-That each person is born into a caste or social group
-Reincarnation: after death all people will be reborn in either human or animal form; nothing truly dies and the spirit in death passes from one living thing to another
-The cow is considered sacred
-A belief in polytheism (multiple deities): the three main gods are Brahma, the Creator; Vishnu, the Preserver; and Shiva, the Destroyer

Hindus

-Lived and worked under Muslim rule
-Most Hindus were self-sufficient farmers
-The caste system dominated Hindu life

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sarbnes-oxley act of 2002

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agency problems

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agency cost

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incentive plans

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performance plans

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through a financial institution
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private placement

involves the sale of a new security directly to an investor or group of investors.

public offering

is the sale of either bonds or stocks to the general public

primary market

is the financial market in which securities are initially issued; the only market in which the issuer is directly involved in the transaction

secondary market

are financial markets in which preowned securities (those that are not new issues) are traded

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bonds

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broker market

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dealer market

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discuss business taxes and their importance in
financial decisions

Corporate income is subject to corporate taxes. Corporate tax rates apply to both ordinary income (after deduction of allowable expenses) and capital gains. The average tax rate paid by a corporation ranges from 15 to 35 percent. Corporate taxpayers can reduce their taxes through certain provisions in the tax code: dividend income exclusions and tax-deductible expenses. A capital gain occurs when an asset is sold for more than its initial purchase price; they are added to ordinary corporate income and taxed at regular corporate tax rates.

income statement

provides a financial summary of a company’s operating results during a specified period

balance sheet

presents a summary of a firm’s financial position at a given point in time

statement of retained earnings

reconciles the net income earned during a given year, and any cash dividends paid, with the change in retained earnings between the start and the end of that year

fasb 52

mandates that U.S.-based companies translate their foreign-currency-denominated assets and liabilities into dollars, for consolidation with the parent company’s financial statements. This is done by using the current rate (translation) method

current rate (translation) method

is a technique used by U.S.-based companies to translate their foreign-currency-denominated assets and liabilities into dollars, for consolidation
with the parent company’s financial statements, using the year-end (current) exchange rate

cross sectional analysis

is the comparison of different firms’ financial ratios at the same point in time; involves comparing the firm’s ratios to those of other firms in its industry or to industry averages

benchmarking

is a type of cross-sectional analysis in which the firm’s ratio values are compared to those of a key competitor or group of competitors that it wishes to emulate

current ratio

measures the ability of the firm to meet its short-term obligations

current ratio formula

current ratio = current assets / current liabilities

the quick (acid-test) ratio

(current assets - inventory) / current liabilities

inventory turnover

measures the activity, or liquidity, of a firm’ s inventory

inventory turnover ratio

inventory turnover = cost of goods sold/ inventory

average age of inventory

is the average number of days’ sales in inventory

average age of inventory ratio

average age of inventory = 365 / inventory turnover

average collection period

is the average amount of time needed to collect accounts receivable

average collection period ratio

accounts receivable/average sales per day, then accounts receivable/(annual sales/365)

average payment period

is the average amount of time needed to pay accounts payable

average payment period ratio

accounts payable/average purchases per day, then (accounts payable)/(annual purchases/365)

total asset turnover

total asset turnover indicates the efficiency with
which the firm uses its assets to generate sales.

total asset turnover ratio

total asset turnover = sales/ total assets

debt ratio

the debt ratio measures the proportion of total
assets financed by the firm’ s creditors.

debt ratio formula

debt ratio = total liabilities / total assets

debt to equity ratio

the debt-to-equity ratio measures the relative proportion of total liabilities and common stock equity used to finance the firm’ s total assets

debt to equity ratio formula

debt to equity = total liabilities / common stock equity

times interest earned ratio

the times interest earned ratio measures the firm’ s ability to make contractual interest payments; sometimes called the interest coverage ratio.

times interest earned ratio formula

times interest earned ratio = EBIT / taxes

the fixed payment coverage ratio

the fixed-payment coverage ratio measures the
firm’ s ability to meet all fixed-payment obligations

the fixed payment coverage ratio formula

gross profit margin

gross profit margin measures the percentage of
each sales dollar remaining after the firm has paid for its goods

gross profit margin

(sales-cogs)/sales = gross profits/sales

operating profit margin

operating profit margin measures the percentage of each sales dollar remaining after all costs and
expenses other than interest, taxes, and preferred
stock dividends are deducted

operating profit margin ratio

operating profit margin = operating profits / sales

net profit margin

Net profit margin measures the percentage of each sales dollar remaining after all costs and expenses, including interest, taxes, and preferred stock dividends, have been deducted

net profit margin ratio

net profit margin = earnings available for common
stockholders / sales

earnings per share

earnings per share represents the number of
dollars earned during the period on the behalf of each outstanding share of common stock.

eps formula

earnings available for common stockholders / # of shares of common stock outstanding

return on total assets (ROA)

the return on total assets measures the overall
effectiveness of management in generating profits
with its available assets

ROA formula

return on total assets (ROA) = earnings available for common stockholders / total assets

the return on equity (ROE)

the return on equity measures the return earned on common stockholders’ investment in the firm

the return on equity (ROE) formula

(ROE) = earnings available for common
stockholders / common stock equity

price/earnings (P/E) ratio

measures the amount that investors are willing to pay for each dollar of a firm’ s earnings

P/E Ratio formula

Price Earnings (P/E) Ratio = Market price per share of common stock ÷ Earnings per share

market book ratio

market/book (M/B) ratio provides an assessment of how investors view the firm’ s performance

market book ratio formula

market price per share of common stock / book value per share of common stock

the dupont system

of analysis is used to dissect the firm’s financial statements and to assess its financial condition

the financial leverage multiplier

is the ratio of total assets to common stock equity

depreciation

is the portion of the costs of fixed assets charged against annual revenues over time

MACRS

modified accelerated cost recovery system

free cash flows (fcf)

is the amount of cash flow available to investors (creditors and owners) after the firm has met all operating needs and paid for investments in net fixed assets (NFAI) and net current assets (NCAI)

long-term (strategic) financial plans

lay out a company’s planned financial actions and the anticipated impact of those actions over periods ranging from 2 to 10 years

cash budget (cash forecast)

is a statement of the firm’s planned inflows and outflows of cash that is used to estimate its short-term cash requirements

sales forecast

is a prediction of the sales activity during a given period, based on external and/or internal data

pro forma financial statements

are projected, or forecast, income statements and balance sheets

judgemental approach

is a simplified approach for preparing the pro forma balance sheet under which the firm estimates the values of certain balance sheet accounts and uses its external financing as a balancing, or “plug,” figure

future value

is the value at a given future date of an amount placed on deposit today and earning interest at a specified rate. Found by applying compound interest over a specified period of time

compound interest

is interest that is earned on a given deposit and has become part of the principal at the end of a specified period

principal

is the amount of money on which interest is paid

future value for end of the period

FVn = PV x (1 + r)^n

present value

is the current dollar value of a future amount—the amount of money that would have to be invested today at a given interest rate over a specified period to equal the future amount. It is based on the idea that a dollar today is worth more than a dollar tomorrow

discounting cash flows

is the process of finding present values; the inverse of compounding interest.

annuity

is a stream of equal periodic cash flows, over a specified time period

ordinary (deferred) annuity

is an annuity for which the cash flow occurs at the end of each period

annuity due

is an annuity for which the cash flow occurs at the beginning of each period

perpetuity

is an annuity with an infinite life, providing continual annual cash flow.

continous compounding

involves the compounding of interest an infinite number of times per year at intervals of microseconds.

nominal (stated) annual rate

is the contractual annual rate of interest charged by a lender or promised by a borrower

effective (true) annual rate (EAR)

is the annual rate of interest actually paid or earned.

loan amortization

is the determination of the equal periodic loan payments necessary to provide a lender with a specified interest return and to repay the loan principal over a specified period

loan amortization schedule

is a schedule of equal payments to repay a loan. It shows the allocation of each loan payment to interest and principal

interest rate

is usually applied to debt instruments such as bank loans or bonds; the compensation paid by the borrower of funds to the lender; from the borrower’s point of view, the cost of borrowing funds

required return

is usually applied to equity instruments such as common stock; the cost of funds obtained by selling an ownership interest

real rate of interest

is the rate that creates equilibrium between the supply of savings and the demand for investment funds in a perfect world, without inflation, where suppliers and demanders of funds have no liquidity preferences and there is no risk

nominal rate of interest

is the actual rate of interest charged by the supplier of funds and paid by the demander

term structure of interest rates

is the relationship between the maturity and rate of
return for bonds with similar levels of risk

yield curve

A graphic depiction of the term structure of interest rates

yield to maturity curve

is the compound annual rate of return earned on a debt security purchased on a given day and held to maturity

nominal yield curve

is an upward-sloping yield curve indicates that long-term interest rates are generally higher than short-term interest rates

inverted yield curve

is a downward-sloping yield curve indicates that short-term interest rates are generally higher than long-term interest rates

flat yield curve

is a yield curve that indicates that interest rates do not vary much at different maturities

expectations theory

is the theory that the yield curve reflects investor expectations about future interest rates; an expectation of rising interest rates results in an upward-sloping yield curve, and an expectation of declining rates results in a downward-sloping yield curve

liquidity preference theory

suggests that long-term rates are generally higher than short-term rates (hence, the yield curve is upward sloping) because investors perceive short-term investments to be more liquid and less risky than long-term investments. Borrowers must offer
higher rates on long-term bonds to entice investors away from their preferred short-term securities

market segmentation theory

suggests that the market for loans is segmented on the basis of maturity and that the supply of and demand for loans within each segment determine its prevailing interest rate; the slope of the yield
curve is determined by the general relationship between the prevailing rates in each market segment

corporate bond

is a long-term debt instrument indicating that a corporation has borrowed a certain amount of money and promises to repay it in the future under clearly defined terms

coupon interest rate

is the percentage of a bond’s par value that will be paid annually, typically in two equal semiannual payments, as interest

bond indenture

is a legal document that specifies both the rights of the bondholders and the duties of the issuing corporation

standard debt provisions

are provisions in a bond indenture specifying certain record-keeping and general business practices that the bond issuer must follow; normally, they do not place a burden on a financially sound business

restrictive covenants

are provisions in a bond indenture that place operating and financial constraints on the borrower

subordinations

means that subsequent creditors agree to wait until all claims of the senior debt are satisfied

sinking-fund requirement

are a restrictive provision often included in a bond indenture, providing for the systematic retirement of bonds prior to their maturity

security interest

is a provision in the bond indenture that identifies any collateral pledged against the bond and how it is to be maintained. The protection of bond collateral is crucial to guarantee the safety of a bond issue

trustee

is a paid individual, corporation, or commercial bank trust department that acts as the third party to a bond indenture and can take specified actions on behalf of the bondholders if the terms of the indenture are violated

conversion feature

for convertible bonds allows bondholders to change each bond into a stated number of shares of common stock

call feature

which is included in nearly all corporate bond issues, gives the issuer the opportunity to repurchase bonds at a stated call price prior to maturity

call price

is the stated price at which a bond may be
repurchased, by use of a call feature, prior to maturity

call premium

is the amount by which a bond’s call price exceeds its par value. is equal to one year of coupon interest and compensates the holder for having it called prior to maturity

stock purchase warrants

which are instruments that give their holders the right to purchase a certain number of shares of the issuer’s common stock at a specified price over a certain period of time

valuation

is the process that links risk and return to determine the worth of an asset

interest rate risk

is the chance that interest rates will change and thereby change the required return and bond value.

yield to maturity (ytm)

is the rate of return that investors earn if they buy a bond at a specific price and hold it until maturity. (Assumes that the issuer makes all scheduled interest and principal payments as promised.)

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Econ assignment help and quizzes for college students

Describe the debt/credit market. Consumer, business, short-term money market.

>Liability
-Consumer: Credit & housing loans
-Business: Loan & bonds
-Short-term money market.

Describe the short-term money market. Identify the specific bond used to exchange.

>Surpluses and deficits are balanced out between individuals and businesses coming together themselves. (also includes overnight money market)
>Only appropriate for large companies.

Define Opportunity Cost.

Opportunity Cost is the benefit that could have been gained from the alternate use of the same resource, for e.g. different usage of money results in different benefits.
If …, then … will be forgone.

Explain how Utility plays a role in the Economic Problem.

Utility is the individual pleasure that is gained from the consumption of goods and services. This is catalyst to the Economic Problem as the individual desire for utility will result in an infinite demand of goods and services.

Define PPF.

A Production Possibility Frontier is a theoretical graph that depicts all possible combinations of production available between two goods and/or services within an economy.

Explain the 3 purposes of a Production Possibility Frontier for a government body.

>Choice between which combination of public goods
>Understanding of whether underemployment is present
>Understanding of how productive economy is as a whole (and the effect of technology)

Explain why PPFs are note linear in reality.

Resources are not made the same and therefore cannot alternate from one industry to another.

Explains what occurs to a PPF when there is an increase in (labour) resources in the economy. Draw.

Outward shift=increase in “productive capacity”
Labour is assumed as the primary resource

Explain what occurs when an economy operates below the PPF.

Not operating at maximum capacity=decrease production of goods=under employment.

Explain what occurs when new technology for (only one axis) a particular good or service is discovered. Draw.

Slant toward that good to which opportunity cost would decrease (forgoing less of the other one)

Discuss (ad/disad) a businesses decision to spend (labour) or invest (capital).

>Long term gain from capital investment, disadvantage for continuing labour intensity
>Temporary shortage of supply and decrease in profits from capital investment. Steady supply ”.

Describe how a government may face opportunity costs by providing an example. (2 marker question)

Differing demographics desire different goods and services, requiring the Government to deliberate on which to produce with the limited tax revenue they have. For example, if a park is built for children, chessboards for the elderly are forgone.

4 FOPS

Labour
Land
Capital
Enterprise

Reward for labour

Income

Reward for land

Rent

Reward for capital

Interest
When enterprise borrow savings from the economy (as per 3 sector model), the entrepreneur owes the financial sector cost + interest (just boldly called interest). This interest equates to the price of capital bought and is therefore paid to the capital seller.

Define interest rates.

Cost of borrowing money (by a consumer, business, gov or bank) expressed as a percentage of the total amount borrowed.
Borrow=liability= loans + bonds

Reward for enterprise

Profit

Define factors of production

Resources owned by consumers that are sold to firms for production

Define GDP

Gross Domestic Product is the total VALUE of goods and services produced in an economy within a set period of time.
a.k.a. total output, AD, total income in an economy

Define Economic Growth (for exposure)

An increase in GDP of a nation from one year to another.

Define quality of life

The general well-being of a population of people. (generally within a country)
(Just a term to familiarise myself with)

Define HDI. Explain how the scale works.

Human development index measures a comparison of quality of life between economies, from 0 to 1..

Identify the 3 things that HDI takes into account

Gross National Income ppp/capita
Life expectancy at birth
Mean years schooling

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FYI Gross national income includes income earnt by residents in foreign economies and excludes incomes earnt by foreigners in economy.

Identify some indicators of quality of life apart from HDI

Access to food, housing, education, welfare
Adequate sanitation, waste disposal and clean water
Clean and healthy environment
Provision of law and order
Participation in government decision making: human rights, incl freedom of speech

Describe three factors to consider when comparing employment between economies.

Wages
Equality: Unlawful discrimination, physical safety
Distribution between primary, secondary and tertiary sectors

Define distribution of income

Distribution of income describes how GNI/GNP is distributed among a population among a population.

State what both ends of the gini-coefficient scale indicates.

The coefficient ranges from 0 (or 0%) to 1 (or 100%), with 0 representing perfect equality and 1 representing perfect inequality.

Describe the business cycle.

The business cycle is the fluctuation in economic growth. (where troughs eventually lead to growth and vice versa)

Define a mild recession.

A mild recession is any period of extended economic downturn.

Define a technical recession.

A technical recession is a period of 2 quarters where negative economics growth occurs.`

Troughs (recessions) and booms have contrasting effects. List the a few areas that are affected (there are 7).

Production
Income level
Consumption/investment (proportionate to each other)
Employment
Quality of live/standard of living
Inflation
Total output

Define the circular flow of income.

The circular flow of income is a five sector model indicating the five players that influence the economy through injections and leakages.

Outline the relationship between the household sector and the firms sector in the circular flow of income. (3steps)

Consumer sell FOP, receives income
Purchase g and s with income produced from FOP
Business makes a profit and employs FOP.

Draw the 5 sector circular flow of income. Label all sectors and flows.

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Contrast leakages and injections and state the three factors for each

Leakages: items that remove money from economy. Injections vice versa.

Define investment

>Proper: The purchase of capital goods by a firm. (borrowing)
>May be confused by individuals saving money to grow its value (saving, the complete opposite)

Describe the impact of the following on leakages, injections and economics impact on Australia: China, an importer of Australian goods, experiences economic downturn.

Decreased injections (Australia is exporter to the importer)
Contraction

Describe the impact of the following on leakages, injections and economics impact on Australia: Investment in port facilities improve export capacity.

Increased injections
Expansion

Describe the impact of the following on leakages, injections and economics impact on Australia: Superannuation.

Increased leakages
Contraction

Describe the impact of the following on leakages, injections and economics impact on Australia: Increased tax

Increased leakages
Contraction

Describe the impact of the following on leakages, injections and economics impact on Australia: Decreased investment

Decreased injections
Contraction

Describe the impact of the following on leakages, injections and economics impact on Australia: Increased imports

Increased leakages
Contractions

Describe the impact of the following on leakages, injections and economics impact on Australia: Reduction in borrowing

Decreased injections (only focusing on business investments within circular flow)
Contractions

Describe the impact of the following on leakages, injections and economics impact on Australia: $200bn infrastructure project funded by government.

Increased injections
Expansion

Define equilibrium in the circular flow of income.

Equilibrium is where leakages and injections equal.

Define consumer sovereignty

Consumer sovereignty is the collective power where consumer’s freedom of choice determine types of goods produced and in what quantity. Thus demand fluctuates between products depending on preferences.

Describe the 2 aspects of public goods

Public: Non-excludable: Cannot charge price
Non-rival: One’s consumption does not deplete another

Define merit goods

Merit: Not at optimum supply as a result of not at optimum demand

Contrast the differing treatments between merit goods and illicit good by the government.

>Merit produced/subsidised lack supply&demand
>Illicit goods regulated and taxed due to neg externalities + inelastic=revenue

Formulate APC

Average propensity to consume=
Consumption/Income

Formulate APS

Average propensity to save=
Saving/Income

Formula MPC

Marginal propensity to consumer=
Change in C/Change in Y

Formula MPS

Marginal propensity to save=
Change in S/Change in Y

Describe the life cycle theory of consumption

Young: Do not have income, dissave (borrow) to finance education
Middle: Rise in income flow
Old: Disappearance of income, dissave
>Does not take into account family finances and pensions
>Consumption remains constant throughout graph
>All income earnt is spent before death

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Planned v market economy.

Quality of life may be increased or decreased depending on perspective

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Identify two main factors that account for whether or not consumers spend or save. List a few others.

1. Higher income=higher saving (with the exception of US due to inequality as per consum func)
2. Age: Life-cycle theory of cumsumption
Cultural
Personality
Confidence in economy/economic outlook
Specific future spending commitments
Tax rate
Availability of credit (money for borrowing)

7 factors affecting quantity demanded.

>Price
>Price of complements
>Expected future prices
>Changes to taste/preferences
>Income: Increased income (as a whole in society) increases demand for luxuries relative to necessities, vice versa.
>Marketing/new studies
>Demographic.

List some examples of social welfare payments.

1. Pension
2. Family
3. Disabilities
4. Unemployed/sick
5. Veterans
6. Indigenous

Define industry

Industry is the collection of firms that produce similar products, thus competing against one another.

Define niche market

A segregation of a mass market for a good or service that is demanded by specific consumers.

Outline the 4 goals of a firm

1. Profit motive/maximisation
2. Meeting shareholder expectations
3. Increasing market share: Sales maximisation
4. Maximising growth: long term investment

Define satisficing behaviour

Satisficing behaviour is a situation in which a firm does not seek to maximise any one of the four goals.
Rather they set quotas or pursue an overall level in all goals in line with the interests of the firm.

Formulate productivity

(Output/All input)/Time

Formulate labour productivity

(Output/Labour input)/Time

Outline the three specialisations of FOPs.

1. Division of labour
2. Location of industry: Land
3. Large-scale production: Capital

Define internal economies and diseconomies of scale.

Internal economies and diseconomies of scale describes the effects of mass production on efficiency and average cost.

The point of technical optimum along the LRAC curve distinguishes between the two.

Define negative externality.

A cost that is suffered by a third party due to an economic transaction that firm/consumers do not hold account to.

Define external economies and diseconomies of scale. Illustrate external economies and diseconomies of scale.

External factors that may shift the LRAC curve up or down.

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Using the total outlay method, what direction of change in revenue would result from an increase in price for INelastic demand.

Increase price=Increase revenue

Using the total outlay method, what direction of change in revenue would result from an increase in price for UNIT elastic demand.

Increase/decreased price=Same revenue

Using the total outlay method, what direction of change in revenue would result from an increase in price for ELASTIC demand.

Increase price=Decrease revenue

Which 2 sectors would benefit from examining elasticity?

Business: Unit=”Optimal price strategy”
Government: Pricing of public goods + taxing of excise goods

Perfectly elastic demand AND supply
a) Explain curve
b) Example

Horizontal (any quantity),
Demanded: Only willing purchase at set price
Supplied: Price taker
perfect competition of exactly same apples

Perfectly INelastic demand AND supply
a) Explain curve
b) Example

Vertical (any price),
Demanded: Desperately need to buy without choices
Supplied: Abusing monopoly power/limited resource
AIDS cure/Mona Lisa

5 factors that contribute to elasticity of demand

>Luxury: Elastic (Kmart vs Nike, still could be type), Necessity: Inelastic
>Close substitutes (pure/monopolistic): Elastic, No substitutes (monopoly on cure): Inelastic
>Price proportion to income: Durability
>Length of time after price change-
Long run: Elastic (have time to SEEK SUBSTITUTES), Short run: Inelastic (cannot adapt)
>Not addictive: Elastic, Addictive: Inelastic (alcohol, cigarettes, hence excise duty)

Elasticity of demand sheet 29/3 #2

…

Movement and shifts of demand curves: Read through 27/3 #1

…

7 factors to the quantity supplied of goods

>Price of G&S
>Price of “other” goods
>State of technology for production
>Cost of production
>Scarcity of good
>Number of suppliers
>Eco conditions

Read through 12/4 #1 Increase and decrease of supply

…

Read through 12/4 #1 flip side: Perfectly elastic/inelastic

…

3 factors affecting elasticity of supply

Length of time after price change
Storage ability of product: Inventory
Excess capacity

Characteristics of market equilibrium

>Intersection of demand and supply curves
>Established through same QS and QD
>No tendency for change in price or quantity

Define price mechanism. Explain what it reflects and doesn’t reflect.

Price mechanism is the interaction between demand and supply in determining price and quantity of goods.
Essentially price of a good reflects
>Costs of production
>Benefits to consumer
Does NOT reflect
>Costs toward society (manufacturing+usage)

Explain how a market economy ensures allocative efficiency. Relate it to the two markets.

Through price mechanism, allocative efficiency ensures supply is satisfied with monetary compensation and demand is satisfied in attainment of good, addressing the eco problem.

Market failure formal definition

Free market=Undesirable outcomes
Market failure is the situation in which there is an inefficient allocation of goods and services in the “purely market economy”, where economic outcomes are determined by the free market without government intervention.

Illustrate market failure on demand&supply curve

Optimum: Merit increase, demerit decrease
Concerned with:
>Low quantity of merit/high of demerit
>High price of merit/low of demerit
>Externalities

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5 aspects/outcomes of market failure

>Provision: Q of merit&public
>Income distribution
>Economic stability: Fluctuations
>Abuse of market power: Decrease comp decrease Q and ^P, impeding growth
>Negative Externalities

>State the 2 price intervention methods
>Their position to equilib
>Their purpose
>Their effectiveness

Price ceiling: Below equilib. Rich supplier.
Price floor: Above equilib. Poor supplier.
Both used to equitably distribute income. Both also cause disequilibrium and DISTORT outcomes like in planned economy.

>State the 3 quantity intervention methods
>Their position to equilib
>Their purpose
>Their effect

Q intervention of illicit/merit goods or goods with high social costs/goods with positive externalities-not just low negative externalities. LITERALLY CHANGES EQUILIBRIUM PRICE AND QUANTITY.
>Restricting/quota production
>Imposing tax/reducing tax of particular good
>Fiscal policy/government expenditure

Kinda blah over my mind the 4 market structures:
>Number/size
>Product characteristics
>Barriers to entry
>E.G

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Identify main legislation regulating the abuse of market power (mainly the 4), protecting consumers.
Which organisation administers this act?
What is the legislation that consolidates all consumer protection laws?

Competition and Consumer Act 2010
ACCC
Australian Consumer Law 2011

List 4 ways businesses exercise ‘business sovereignty’.
More about ways a firm diminishes consumer choice to gain profit.
Different to abuse of market power, as business sovereignty is NOT NECESSARILY market failure, just firms outsmarting consumers.

Marketing
Misleading conduct
Planned obsolensce
Anti-competitive behaviour: Actions taken that diminish consumer’s ability to choose what they would have preferred (power supply chords)

4 abuses of market power.
>More about ways firms in highly concentrated industries (thus having greater market power) can abuse that fact.
>Particularly how it is market failure, how price mechanism doesn’t fulfill
>As monopoly=anticompetitive, all 4 are EXAMPLES of anti-competitive behaviour

1. Monopolisation: Use of (already existing) market power to just flat out eliminate existing or upcoming competiting
2. Price discrimination (freely to their discretion, as they don’t need to compete with many firms that could charge more willing consumers at same rate)
3. Exclusive dealing: Set of conditions that retailers set to firms (vice versa) that prevent them from dealing with others (easy to do in concentrated industries)
4. Collusion and market sharing (easy to do in concentrated industries)
*The primary problem in all these is PRICE setting

Brush over the difference between macroµ eco policies: Influence & examples

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2 demonstration of public sector intervention

>Public sector outlay: Gov exp/GDP *100 %: Steady trend at 39-40% since 2010
>Public sector employment/Total employment: Steady trend at 16.5% since 2010
GFC led to greater government role in stabilisation (though trends state consistency of public sector)

2 broad methods of resource allocation by the government

>Influencing business and firm behaviour (law+tax)
>Expenditure (reallocating, producing)

Brush through the 2 broad ways in which government influence business behaviours

>Legislation etc, directly influencing
>Fiscal policy: Mainly tax but also GBE acting as competition

Contrast direct tax and indirect tax

Direct tax: Attached to individual/firm (income/corporate)
Indirect tax: Attached to a G/S and passed onto someone else (GST + excise duty)

Tax base

Things that can be taxed, i.e. income, wealth (levied land) and consumption (GST)

Formulate ART

T/Y

Formulate MRT

Change T/Change Y

Progressive, regressive, proportional tax: Brief run over

Progressive: ^Y=^Average Rate of Tax (Y tax)
Regressive: ^Y=decrease ART (GST, anything fixed for all)
Proportional: ART is fixed (Corporate, fixed rate)

Outline the 3 goals of Fiscal policy. Different to monetary.

Conducting macro-eco policy through various instruments including the budget to:
>influence resource allocation
>redistribute income
>smooth fluctuating eco cycle

Describe how monetary policy affects the economy after it is implemented. (First dot point and then write it as a paragraph. Don’t slack off.)

Policy>RBA securities transactions>Supply of moeny>Cash rate>IR>Price of funds to borrow>Fluctuating demand for funds>Fluctuating purchasing power>Fluctuating AD>Fluctuating economic cycle>rebalance: employment, incomes ect until comes back around.

How long does monetary take to effect the economy?

6-18 months as its the long term plan

Specific target of monetary policy

Inflation between 2-3% on average over the course of the economic cycle. A rate that has determined to produce stable growth.

Corporatisation

Government encouraging their enterprises to operate privately to improve efficiency and innovation, subsequently profitability

Privatisation

Selling of government enterprises to improve efficiency and innovation, subsequently profitability

Describe what is means for governments to “maintain workable competition”

Greater competition=greater no. firms.
Too much competition: EoS cannot be produced
Too little competition: Innovation+efficiency stagnates & abuse of market power
Workable is a balance between both.

2 broad aspects of environmental problems

>Usage of non-renewable resources that will inevitably deplete=unsustainable
>Immediate externalities caused by:
>Production of G/S
>Usage of G/S

Brush through 28/5 #1: Gov respondence to market failure

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Issues associated with monopoly power

>Inefficient production & allocation of resources
>Abuse of market power in PRICE setting (monopolisation, descrimination, collusion, sharing)

Run through 20/3 #1 Shfits and specialisation

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Dixon chapter 1

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Riley chap 2

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Dixon chap 2

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Dixon chap 3

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Dixon chap 4

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Dixon chap 5

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Riley chap 3

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Dixon chap 6

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20/3 #1 FLIP

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Dixon chap 7

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Dixon 14

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13/6 #1

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13/6 #1 flip

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Dixon 15

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Outline the causes of economic instability

1. Inevitable inflation cycle
2. When business errors occur
Consumer(spending)/Business(producing goods & buying capital) confidence drops simultaneously

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Define the budget.

Tool that exercises fiscal policy through planned estimate of expenditure and taxation revenue for the forthcoming year.

Describe the 3 fiscal/budget positions/OUTCOMES.

Gov>Tax: Budget Deficit
Gov<Tax: Budget Surplus
G=T: Balanced budget
Comparison between G and T

Define deficit.

Amount gov expenditure over revenue.

Define surplus.

Amount revenue over gov exenditure.

Describe the 3 budget STANCES.

Expansionary: Larger deficit or smaller surplus
Contractionary: Smaller deficit or larger surplus
Neutral: Same same
Comparison of a deficit or surplus to previous years. (comparison of the different between G and T to previous years.)
*The stance results in the outcome of the following year

Describe discretionary measures in stabilising the economy and give examples.

Government specific funding for things to stabilise economy while acting properly.
>Amount spent
>What is spent

Describe non-discretionary measures in stabilising the economy and give examples. Explain the effects in 2 examples.

Through automatic stabilisers, instruments inherent in the government’s budget that counterbalance economic activity.
Tax, unemployment benefits, look at book.

Analyse the role of the Senate in passing legislation.

+More detailed review of government policies
-Slows process of developing legislation

Define and analyse the role of lobbying.

Advocacy with intention of influencing political decisions by individuals or lobby groups.
+The voice of the people
-Illegal campaign donations from businesses=corrution

Define and analyse the role of unions in politics.

Great numbers>public debaes for workers rights/benefits/entitlements

Define and analyse the role of international influences on government policy.

>Equity: Attempts to remain competitive to encourage foreign investment & increase our productive capacity
>Debt: Attempts to provide competitive funds. ^purchase of our currency ^its demand ^strength/value of currency
>Forex: Allows for all other markets to function
>Overseas: Different national areas of specialisation=^selection of goods + ^output/profit
>Agreements: Blantantly restricting
-Volatility is kept in mind
#globalisation

Define financial intermediaries.

Financial institutions through which accumulated funds of savers can indirectly provide funds to borrowers through loans.

Describe the broad advantage of a financial market to an economy.

Incomes not used for consumption can attribute to AD, ^productive capacity of the economy.

Define securities. Give 2 examples.

Financial instruments representing money, providing holder of the instrument with a claim over real assets or a future income stream.
Shares, bonds.

Define primary financial markets.

In a primary market, a direct exchange occurs between the investor and the company. This facilitates the creation of securities sold into the economy.

Define secondary financial markets.

Secondary markets involve transactions of securities (primarily stocks) that have been previously issued.

Discuss (advantages/disadvantages) the 2 ways in which firms can finance (additional) assets.

1. Entering Liabilitiy: Borrowing.
+Retains power of decision making
+Retains all profits
-Vulnerable to changes in IR, must pay it
-RISK!
2. Selling Equity: Selling ownership of the business.
+Diluting risk>job security (labour force in general)
+No interest rates required (and the changes it has)
-Decreased profits from dilution AND dividends
-Deals with public scrutiny (ethics)
-Security laws diluting firm decision making
-Intro of new shares dilute shareholder’s investment (disad to the shareholder)

Identify 2 ways shareholders can make a profit in the equity market

1. Dividends
2. Capital gains
*Short or long term

Define bonds.

Promissory notes wherein the borrower, in return for funds, promises to pay the bondholder at maturity.
The bondholder may sell the “someone owes me” right-hence the demand for bond.

How does fluctuating interest rates in a secondary bond market affect the face value of the bond? Draw demand and supply for a bond.

Higher interest=Lower demand for the good (a paper that says someone owes)=New face value decreases

Define equity.

A stock or any other security representing an ownership interest. Can be in public or private business.

Define dividends.

The return of equity when a company makes profit.

A REMINDER THAT GOV SECURITIES ARE ONLY BONDS

i.e. borrowing from public to fund gov operations

Describe the 4 financial markets.

1. Share market: Buying and sharing of equity>shares. Stockbroker.
2. Debt market: Connection between borrowers and savers>bonds. Intermediaries>financial institutions.
3. Derivatives market: Trading assets as money.
4. Foreign exchange market: Money

Explain how futures work in a derivatives market.

Derivatives are contracts whose value is based on an asset. A future obligates selling of an asset and repurchasing of the asset (by α) on a future date at the same price regardless of market price. Or just directly fixes in an interest rate on a loan.
>α maintains security over asset/loan
>β is speculative, suffers cost and attains profits

Define share.

A security that provides ownership over a fraction of a company.

Describe the level of competition in Australia’s financial markets. State any trends.

High concentration, i.e. oligopoly. The 4 banks
>CWB
>ANZ
>Westpac
>ANB
Therefore not as much competition=greater interest rates (than other countries). Greater increase in competition recently.

Explain what it means for a market to be concentrated.

The

Define stockbroker

An intermediary between client and equity market.

Define capital gains

A profit made by an investor from the sale of an investment (in anything).

Descrube the role of investors and firms in the sharemarket

Investor
>Earns return through dividends and capital gains
>Participate in firm decision making, may have an ethical motive
Firms
>Funding=Long term growth
>Descreasing risks/liabilities

30/7 #4

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Define float

The initial raising of funds in a company through the sale of shares to the public.

Define all ordinaries index

Stockmarket index measuring changes in the overall value of campanies listed on the ASX.

Discuss the relationship between the sharemarket and the real economy.

Although eco reflects sharemarket as value of firms reflects confidence of investors AND aggregate demand, presence of speculation in sharemarket increases volatility.

Define speculation. Describe the issue of speculation in the financial market.

Buying stock with the hope that it will become worth more money in the NEAR future.
Shares become overvalued, leading to misallocation of resources=instability

Explain the importance of foreign exchange markets

Enable the movement of funds around the world, allowing nations to hold foreign currency, allowing for global stock and debt markets, crucial to the productive capacity of business.

Explain the importance of global debt markets.

Allows deficits and surpluss to be balanced.
Enable funding of government operations + increases competition with domestic markets.

Explain the trend of global financial markets and its cause.

Increasingly connected due to technology and deregulation.

Look over the stats between overseas financial markets in relation to Australia.

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Outline the 4 authorities in Coucnil of Financial Regulators. Define CFR.

RBA: Stability through monetary policy
APRA: Deposits are secure, institutions are capable
ASIC: Consumer protection in financial markets
Treasury: Financial advice & framework
>A coordinating body for financial market regulation that provides for cooperation and collaboration among its four members, allowing for sharing of information and advice.

Outline role of RBA. 5 aspects.

>Monetary policy>cash rate>banker to banks
>Currency: Note printing
>Efficiency&stability of payment systems
>Oversees forex
>Banker to gov, hence affects fiscal

Outline role of Treasury. 2 aspects.

>Advice forms the budget (how gov plans to tax & spend)
>Keeping gov up to date on Au&overseas markets

Dixon Ch 16

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Dixon Ch12 uodate answers in the meantime

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4ish whateves reasons why gov would borrow from financial market

1. Expansionary stance: Deficit in spending
2. Maintain balance when G unintentionally goes over T (doesn’t mean it goes back to balanced budget)
3. Major infrastructure projects
4. Increasing demand/decreasing supply of funds increases IR

Where do supply of funds in debt markets come from?

1. Business surplus
2. Individual savings
3. Gov surplus

Which parties demand funds in debt markets?

1. Indiv: Home/personal loans, credit
2. G>T through loans and bonds
3. Business: Startups, expanding of business, managing cashflow through loans and bonds

Define liquidity.

The ease of which assets can be turned into cash.

Outline the importance of money and its 4 characteristics.

1. Medium of exchange
2. Measure of value
3. Store of value
4. Allows for lending and borrowing (imagine saving apples in a bank)

Define money base

Currency + bank deposits in RBA
>The most liquid

Define M3

RBA’s measure of the money supply that consists of all currency, bank deposits in RBA and private bank deposits.

3 reasons why individual consumers prefer to hold surplus funds rather than invest. (why there is a greater demand for liquidity) (motives)

1. Transactions motive: Lower costs aswell
2. Precautionary motive: Safe
3. Speculative motive: An asset goes up a bit=exchange into cash

Define broad money

M3 + NBFI (holdings) of deposits - NBFI deposits in banks.
Non-bank financial intermediary

Define borrowing rates

The interest rate which banks offer to lenders (consumer saving/ business or gov in surplus)
Lenders are investing their funds
Lenders want a higher IR (suppliers want a higher price)

Define lending rates

The interest rate which banks charge to borrowers (consumer borrowing/ business or gov in deficit)
Borrowers are investing in stuff (capital goods) which require funds
Borrowers want a lower IR (suppliers want a lower price)

Explain the equilibrium curve for interest rates in relation to who is supplying and who is demanding. Briefly outline why a shift in each could happen and the resultant IR.

Where supply is from consumer saving/ business or gov in surplus
Where demand is from consumer borrowing/ business or gov in deficit
*Borrowing = lending rate when disregarding profitable banks

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Define short term interest rates.

Interest rates on short term securities, i.e. (ST promissory notes/temporary shares) with a maturity of less than a year.

Discuss the advantages of holding long term securities.

>Non speculative
+Higher IR for lenders + generally greater returns
-Greater risk
-Less liquid

3 factors that affect supply of funds BY INDIVIDUALS in financial markets. (lenders giving money to banks)

1. 3 motives prior to seeing the rate of return
2. Choice between money or other financial assets: Savings account vs house, which one is more appealing as an investment.
3. Domestic rate relative to overseas: What’s more enticing for a return
*A borrower paying back does not supply fund (think of funds as a good and the interest is just a payment back for the good).
>Within supply & demand, the paying back of funds does not count just like how a banks paying back to savers does not count.

3 factors that affect demand of funds in financial markets. (banks giving money to borrowers)

1. 3 motives prior to seeing cost of fund
2. Business demand for capital goods (so a sudden huge deficit)
3. Domestic rate relative to overseas
*A saver taking money out does not demand funds. May have same effect though.
>Within supply & demand, the bank’s paying back to savers does not count just like how a banks paying back of funds does not count.

2 inpuit and 2 output factors affecting business demand for capital goods

Input factors
>Wage rate relative to capital
>Productivity of labour relative to capital
Output factors
>Economic activity
>Derived demand from demand for firm’s product
*Note this is related to the demand for labour but a bit different

11/8 #1 + flip side

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Define ESA. Outline 2 factors that affect the size of this.

Exchange settlement accounts banks have with the RBA when interacting in the short term money market
>Banks intentionally increase (shove money in) depending on expectations of net flows OUT of their account
>Transaction between banks

Define cash rate

The interest rate paid on overnight loans from RBA

Explain what determines the supply of money for a particular day and why supply of money is inelastic. Refer to the concept of monetary stance and DMOs.

>Set cash rate aim, based on stance required to counter-cycle, determines supply in the overnight market.
>Change in (bank’s) demand for money has no relationship on the supply that has been determined that day (to target cash rate).

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Describe the an increase AND decrease in supply of money from RBA to banks through DMOs in the overnight market.
>Relate to LOOSE/TIGHT,
>transfer of MONEY and
>exchange of SECURITIES.
>Draw curve.

Si: Loose: RBA buying gov securities (shoving money into banks)
Sd: Tight: RBA selling gov securities (taking money away)

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Explain how cash rate influences IR.
>Explain the two-fold effect this would have on the economy

^Cash rate>^costs>Profit margins maintained by passing off as ^IR to customers.
Two fold: 1. Consumers will be less willing to save=consume
2. Firms will be more willing to invest
Hence consumption and investment

3 Output factors that influence labour demand.

1. Economic conditions: high employment=high output, vice versa
2. Conditions that restrict firms: Contracts, Awards. Hence offshore outsourcing
3. Demand for firm’s product: High demand=higher price=greater profit+greater output=higher incentive to employ

3 Input factors that affect LABOUR demand. How likely will an employer hire person A for job A if there are alternative NON-LABOUR/NON-DOMESTIC OPTIONS..

1. Productivity of labour v other (what is more attractive in the long run)
2. Cost of labour v other
3. Cost of labour v foreign labour

5 factors that affect supply of labour

1. Pay: Not bothered if only jobs @ $30k
2. Working conditions: Not bothered if an economy only offers mining jobs
3. Presence of human capital (how skilled/educated an economy is)
4. Mobility: Responsiveness to changes in demand (from firms), i.e. the ability for labour to move between jobs.
5. Participation rate

Why doesn’t output of a firm correlate directly with economic conditions?

1. EXCESS CAPACITY
2. Employers must be certain by an establishment of economic trend, to which they then intensity of labour is slowly changed.

Short run for labour demand in terms of productivity

Where AD is ^ or more ^ than productivity=^demand for labour
Where productivity is ^ or more ^ than AD=↓demand for labour
When both are stable, demand and supply will be stable

Outline 2 aspects of mobility

1. Occupational: What job? Edu+skills+time preventing movement of labour. Easy jobs have high occupational mobility.
2. Geographical: Where job? Costs&personal upheaval preventing movement of labour

Formulate participation rate

Labour force / Working age population
Want to work / Can work

4 factors affecting participation rate

1. Their perception of economic climate: People won’t even be bothered to search for work (thus more job opportunities begin to open, hence eco cycle)
2. Significant growth in “working age” to labour force due to??? Contradicts itself with statistics with no explanation for why partic is declining.
3. Changing attitudes toward women: Increase
4. Retention of schooling into tertiary: Decrease

Formulate employment and unemployment rate

Employment/Labour force*100
Unmployment/Labour force*100

Define inflation

The sustained increase in the general level of prices over a year, measured by Cunsumer Price Index.

Which aspects of labour supply affects wage differentials between different occupations?

1. Differing levels of edu/skill/exp between jobs
2. Differing working conditions (dangerous jobs=higher pay)
3. Easier jobs with lower occupational mobility does not require high pay. Overlaps with #1.

Which aspects of labour supply affects wage differentials between same occupations?

1. Geographical mobility: Westpac Dubbo vs Westpac Sydney
2. Productivity of (indiv) labour=bargaining power (same job) Competing actuaries for Westpac
3. Capacity for firm to pay: Greater market power (Westpac v Bedigo BANK) determined by profit margins

Which aspects of labour supply affects wage differentials between AGE?

Teen/Graduate: Low levels of edu/skill/exp=decrease wage
Adult: Career progression=^
Old: Less appealing/productive=decrease wage

Define enterprise bargaining

Negotiations between employers and employees about pay and work conditions at the firm.
>Mainly bargaining bargaining for a better wage.

Define non-wage outcomes

Benefits received by employees on to of wage.

Assess the impact of enterprise bargaining on the distribution of income.

+competitive labour
-causes wage differentials within jobs if other workers do not take same initiatives

What are the 4 causes of unemployment and what do they mean?

Structural unemployment-Employment is redundant, requires retraining for another job
Frictional unemployment- Moving from one job to another
Cynical unemployment- Slowing down of economic activity
Seasonal unemployment- Employed as casual work only for that particular season

2 economic advantages of inequality (as a result of market economy/capitalism)

1. Proactivity of employees, price mechanism
^Incentives to accrue skill
^Incentives to work harder (Longer working hours)
^Incentives for (occu/geo) mobility: Changing jobs to higher paying
^Incentives for Risk taking (esp by entrepreneur)
2.
^Saving (more high income earners): Provides domestic funds

5 economic disadvantages of inequality (as a result of market economy/capitalism)

↓overall utility
↓eco growth from ↓expenditure/comsumption
^conspicuous consumption: decadence
↓perpetuating poverty from disadvantage=market failure af
^cost of welfare=burden on gov

4 reasons why inequality exists

1. Perpetuating cycle: accumulation of wealth if one possesses greater capital
2. Differing skills in differing demand
3. Inheritance (related to #1)
4. Networks (in life related to #1&3)-CEO knows many people, thus greater opportunity for son/the people you surround yourself with

Social costs of inequality

Wellbeing (utility)
Social class division (conspicuous consumption and cultural discrimination/mockery/tensions)
The crime, suicide, disease and life exectancy statistically associated w/ poverty

9/8#2

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Dixon Ch 13

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What does APRA stand for?

Australian Prudential Regulation Authority

What does ASIC stand for?

Australian Securities and Investments Commission

Discuss casualisation of work

+flexibility for employee and employer
+employers avoid non-wage costs
-less job secuirty, hence difficult to plan for future
-less staff loyalty=less willingness to put full effort & develop skills
-underemployment

Identify 4 unions and an example for each.

1. Occupational: Australian Medical Association
2. Instry-based: Finance sector union
3. Enterprise-based: rare
4. General: Australian Workers Union

Account (3 reasons) for decline in union membership

1. Away from centralised wage determination
2. Indstries that are growing have low membership, that are declining have high
3. Casualisation, esp contractors

3 roles of unions in labour market

1. Represent misc interests
2. Bargaining wage
3. Restrict supply of those that aren’t members (leftward shift=^wage for already employees)

2 roles of employer associations. Give 2 e.g.

1. Lobby to gov: Min wage, tax exemptions, industry assistance
2. Assists in managing industrial relations disputes
>Australian Chamber of Commerce
>Business Council of Australia

Evaluate the effectiveness of employer association lobbying in recent years.

Ineffective as gov is cutting back on domestic protection & industry assistance, allowing market to run itself for the long run benefit.

scarcity

There are fewer resources than are needed to fill human wants and needs.

Market Economy

An economic system in which people choose freely what to buy and sell

Command Economy

An economic system in which the government makes all economic decisions.

Traditional Economy

Goods and services are produced the way it has always been done

Mixed Economy

a mixing together of market and command systems

individuals have economic freedoms

government retains some control for benefit of citizens

Factors of Production

Land, Labor, and Capital

Model of Choice

1. Individuals have unlimited wants. 2. Individuals can rank their preferences. 3. Individuals are rational utility maximizers.

Determinants of Demand

-Seasonality
-Prices of related goods or services. These are either complements or substitutes.
-Income of buyers.
-Tastes or preferences of consumers. (or trends)
-Expectations.
-Population

Determinants of Supply

-Production or input costs.
-Technology.
-Number of sellers in the market.
-Price expectations.
-Nature disasters, shocks to the market
-Government regulations (subsidies or taxes)

TERM

Supply

DEFINITION

Graphic representation of the relationship between product price and quantity of product that a seller is willing and able to supply.

LOCATION

https://o.quizlet.com/v1AqrhRCA3ustu-sa9WpYw_b.png

TERM

Demand Curve

DEFINITION

Graphic representation of the relationship between product price and the quantity of the product demanded.

LOCATION

TERM

Surplus

DEFINITION

Supply is greater than demand, or supply exceeds demand.

LOCATION

TERM

Shortage

DEFINITION

Demand is greater than supply, or demand exceeds supply.

LOCATION

TERM

Market clearing price/Price Equilibrium

DEFINITION

the price of a good or service at which quantity supplied is equal to quantity demanded

LOCATION

TERM

Price Ceiling

DEFINITION

a government-imposed price control or limit on how high a price is charged for a product. Governments intend price ceilings to protect consumers from conditions that could make commodities prohibitively expensive.

LOCATION

TERM

Price Floor

DEFINITION

A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product. A price floor must be higher than the equilibrium price in order to be effective.

LOCATION

Increase in Demand

Demand curve shifts to the right

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Increase in Supply

Supply curve shifts to the right

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Decrease in Demand

Demand curve shifts to the left

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Decrease in Supply

Supply curve shifts to the left

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Opportunity Cost

This is the benefit that you have given up in order to pursue an alternative

Economics

the system that society uses to produce and distribute goods and services

Wants

are the things which people would like to have (car, cell phone)

Needs

are the things which people need to survive (food/water, shelter, clothing)

Goods

things that can be made or manufactured (tangible)

Capital goods

are the things used to manufacture other goods (tools)

Consumer goods

are goods meant to be sold to consumers for use (new house, cars, phones, appliances)

Services

work that is done for someone for a certain price (grass-cutting, nails done)

Normal Good

any good for which demand increases when income increases

Inferior Good

A type of good for which demand declines as the level of income or real GDP in the economy increases.

Comparative Advantage

When one nation is better able to produce a good or service than another nation
Ex. Saudi Arabia => OIL

Productivity

is the amount of a good or service that can be produced in a given time

Law of Diminishing Returns

economic law that states that the level of return for additional labor or work will decrease at some point and continue to decrease
Costs (eventually) > Profit

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Sole Proprietorships

business owned by a single person or a married couple

Partnerships

business owned by two or more people

Corporations

business that has many owners (stockholders)
sell stocks to investors
pay dividends to shareholders

stocks

pieces or shares of a company

Non-Profit Organizations

business that is organized to provide a service and not to make large profits for the owners
-many are charities or service groups

Business Cycle

The periodic and cyclical ups and downs of the economy

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Standard of Living

A measure of quality of life based on the amounts and kinds of goods and services a person can buy.

Gross Domestic Product

the value of all goods and services produced in a nation in a given year

Inflation

A rise in the general level of prices in an economy.

Fiscal Policy

Government efforts to influence the economy through taxation and spending

Keynesian Economics

The philosophy that government spending is needed to stimulate a sluggish economy

Trickle Down Economics

economic theory that tax cuts for the rich will trickle down and help everyone

Believed that economic growth depends on making increased amounts of capital available to business

Laissez-Faire

idea that the government will stay out of the interests of people and businesses

Monopoly

Complete control of a product or business by one person or group

expenditures

Government spending. Major areas of federal spending are social services and national defense.

Revenue

The money a government collects from taxes or other sources

Certificate of Deposit

a savings certificate that gains interest and has a set time before you can withdraw your money

Federal Reserve

The central bank of the United States and organization that prints money, tracks our economy and decides interest rates.

Progressive Tax

Any tax in which the rate increases as the amount subject to taxation increases. ( for Example: Income Tax)

Regressive Tax

A Tax in which the percentage of income paid in tax goes down as income rises (for example: Sales Tax)

Intergovernmental Revenue

Funds that one level of government receives from the other level of government

Exports

Goods and Services sold to other countries

Imports

Goods and services brought into a nation from another country.

Deficit

The amount by which expenditures exceed revenue

Trade Deficit

An imbalance in international trade in which the value of imports exceeds the value of exports.

Global Interdependence

The reliance of people and countries around the world on one another for goods and services

Demand

Consumer willingness and ability to buy products at a given price.

Law of Demand

the law of demand states that,”conditional on all else being equal, as the price of a good increases, quantity demanded decreases; conversely, as the price of a good decreases, quantity demanded increases

Law of Supply

The law of supply is a fundamental principle of economic theory which states that, other factors held constant, an increase in price results in an increase in quantity supplied. In other words, there is a direct relationship between price and quantity: quantities respond in the same direction as price changes

scarcity

We have limited resources but unlimited wants ex: land, water, time

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Factors of Production

Land (trees) Labor (cheesemaker) capital (human made product or human knowledge)

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Physical Capital

objects made by human beings and used to produce goods and services

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Human Capital

human knowledge & experience/skill ex: writing, reading, typing

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shortage

wanting more of a good than producers are willing to make or can make so there is a short supply ex: gas

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Need

something you need to survive ex: food, shelter, water, air, clothes please

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Want

something you desire to have but don’t need to live ex: a new bathroom, new counter tops, trip to New Zealand,

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opportunity cost

the best alternative you miss out on when you make choice (ex: if you work you miss out on friends)

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trade off

get something but have to give up something (ex: I’ll have pizza but no pasta unless you are at Pizza hut LOLZ)

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Guns & Butter

A trade off that country’s make about how to use their $. They can spend it on military or resources for their people

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Free Enterprise/Free Market

Individuals make all the decisions, people earn profits based on supply and demand. Example: no one really has this completely

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Command Style

The government makes all the decisions. Example: North Korea, how many shoes are you going to make!

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Mixed Economy

Individuals have freedom to start businesses and people can make choices BUT government is involved for safety, regulations, law and defense. Example: US Economy

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Demand

To desire something and be able to pay for it.

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Substitute

Item that replaces another item: ex: Butter for Margarine

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Compliment

Two good that are bought and sold together: ex:toothpaste/tooth brush

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Normal good

Name brand item: Ugg, Nike, Adidas that you buy with more income

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Inferior good

Off brand of something: Equate, Roundy’s, Great Value that you buy with less income

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law of supply

The higher the price, the more producers are willing to supply

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fixed cost

you always have to pay this amount ex: rent, taxes, insurance

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variable cost

you sometimes have to pay this depending on the situation ex: penalty fee, attorney bill, seasonal workers

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total cost

final cost of fixed cost + variable cost

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entreprenuer

someone who starts their own business ex: Steve Jobs, Mary Kay

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learning effect

more education the more pay

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Affirmative Action

Business or government policies intended to fix the lack of women and minorities in certain jobs / colleges

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unemployed

Someone without a job who is 16 years or older and is actively looking for a job

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underemployment

you are overqualified for your job & work in a lower skill/paying job

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discouraged worker

they gave up trying to find a job

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inflation

money loses its value & can lead to price increase *wage spiral

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Frictional unemployment

unemployed b/c you are searching for a job (you want a job but you don’t have one b/c you left your job to find one that aligned better with your values)

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Seasonal unemployment

work based on the season ex: lifeguard, farm, construction, ski resort

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Structural unemployment

lose job b/c you don’t have the skills ex: robot takes your job, outsourced

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Cyclical unemployment

lose job because of the economy - it is in a recession/depression (ex: your lose your job building a house b/c no one is buying houses during a recession)

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poverty threshold

if you are below this line you are in poverty according to the govt (doorway to poverty)

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GDP (Gross Domestic Product)

total amount of goods & service produced in one year in a country *helps us measure how healthy the economy is
The value of all the goods and service produced in a country in one yesr
The value of all the goods and service produced in a country in one yesr

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revenue

income received by the government from our taxes

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progressive tax

tax that increases when a person’s income increases ex: federal income tax

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regressive tax

the higher the income the smaller the percentage of income paid in taxes ex: sales tax

proportional (flat) tax

tax that is the same for all people regardless of income

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excise (sin) tax

tax on goods that may be seen as a luxury or not good for society (alcohol, tobacco)

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Types of taxes

income tax (tax on $ earned @ job)
property tax (tax on real estate)
sales tax (tax on goods/services)

Characteristics of a good tax

simplicity, efficiency, certainty, equity

expansionary policy

cut taxes or increasing spending to GROW the economy ex: use this policy during/after a recession or a depression

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contractionary policy

raise taxes or decrease spending to SLOW the economy ex: use contractionary policy to avoid inflation

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fiscal policy

the way the government can influence the economy by using taxes & spending ex: raise taxes to slow the economy or lower taxes to grow the economy *increase spending to grow the economy & decrease spending to slow the economy

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budget deficit

We are spending more money than we are making in revenue

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National debt

Total amount of deficits plus the interest *U.S. 19 trillion

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import

to bring goods into a country

export

to send goods out of a country

interdependence

Our nation’s rely on one another to get goods & services

self-interest

an individual’s own personal gain

law of demand

consumers buy more of a good when its price decreases and less when its price increases

shortage

A situation in which quantity demanded is greater than quantity supplied

surplus

A situation in which quantity supplied is greater than quantity demanded

equilibrium price

the price that balances quantity supplied and quantity demanded

price floor

A legal minimum on the price at which a good can be sold. This leads to a surplus.

price ceiling

A legal maximum on the price at which a good can be sold. This leans to a shortage.

diminishing marginal returns

when the marginal gain in output diminishes as each additional unit of input is added

production possibilities frontier

The line on a production possibilities graph that shows the maximum possible output

elasticity of demand

A measure of how consumers react to a change in price

right to work

set of laws adapted by some states to stop making union membership a requirement of employment

discretionary spending

Federal spending that congress and the president get to decide on.

mandatory spending

Required govt spending by permanent laws

medicare

A federal program of health insurance for persons 65 years of age and older

medicaid

Federal program that provides medical benefits for low-income persons.

monetary policy

managing the economy by altering the supply of money and interest rates

real gdp

GDP adjusted for inflation

purchasing power

the ability to purchase goods and services, hurt by inflation

open market operations

Buying & selling government securities to change the supply of money

required reserve ratio

The minimum fraction of deposits banks are required by law to keep as reserves

easy money

this monetary policy lowers interest rates to expand the money supply

tight money

this monetary policy contracts the money supply by raising interest rates

capital deepening

an increase in the amount of capital goods available per worker. Helped by savers in the economy.

cost-push theory

theory that inflation occurs when producers raise prices to meet increased costs

market basket

a representative collection of goods and services. They can be analyzed to track inflation rates.

ceteris parabis

Latin for “All things being equal”. Assumption made by economists that only the price changes when considering changes in quantity demanded.

creeping inflation

a gradual, steady rise in the price of goods and services over time

hyper inflation

monetary inflation occurring at a very high rate

Consumer Price Index

an index of the cost of all goods and services to a typical consumer. Used in determining and tracking inflation.

entitlement programs

Government programs providing benefits to qualified individuals based on need.

scarcity

We have limited resources but unlimited wants ex: land, water, time

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Resources (Factors of Production)

Land (trees) Labor (cheesemaker) capital (human made product or human knowledge)

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Physical Capital

human made object ex: machines

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Human Capital

human knowledge & experience/skill ex: writing, reading, typing

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shortage

wanting more of a good than producers are willing to make or can make so there is a short supply ex: gas

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opportunity cost

the best alternative you miss out on when you make choice (ex: if you work you miss out on friends)

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trade off

get something but have to give up something (ex: I’ll have pizza but no pasta unless you are at Pizza hut LOLZ)

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Guns & Butter

A trade off that country’s make about how to use their $. They can spend it on military or resources for their people

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Cost/Benefit Analysis

Weighing what you sacrifice compared to what you gain to help you make the best decision

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Traditional Economy

Economy based on trade, grow their own food, do things as they have in the past. Example: Africa, Australian Outback.

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Free Enterprise/Free Market

Individuals make all the decisions, people earn profits based on supply and demand. Example: no one really has this completely

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Command Economy

The government makes all the decisions. Example: North Korea, how many shoes are you going to make!

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Mixed Economy

Individuals have freedom to start businesses and people can make choices BUT government is involved for safety, regulations, law and defense. Example: US Economy

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Demand

To desire something and be able to pay for it.

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Substitute

Item that replaces another item: ex: Butter for Margarine

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Complement

Two good that are bought and sold together: ex:toothpaste/tooth brush

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Normal good

Name brand item: Ugg, Nike, Adidas that you buy with more income

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Inferior good

Off brand of something: Equate, Roundy’s, Great Value that you buy with less income

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supply

amount of goods available ex: workers

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fixed cost

you always have to pay this amount ex: rent, taxes, insurance

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variable cost

you sometimes have to pay this depending on the situation ex: penalty fee, attorney bill, seasonal workers

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total cost

final cost of fixed cost + variable cost

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entreprenuer

someone who starts their own business ex: Steve Jobs, Mary Kay

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liable

responsibility (financially)

benefits

insurance, retirement, paid vacation

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outsource

sending jobs overseas because we can get goods cheaper ex: shirt made in china is cheaper but less skilled jobs in U.S. which means Americans need more education/training to get jobs

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wage discrimination

people getting paid less based on gender/race/age ex: wage gap for women

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money

method to get a need/want (medium of exchange, unit of account, store of value)

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bank (financial institution)

A place where you can open a checking, savings account or get a loan, or get a credit/debit card

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interest

the extra money you pay when you take out a loan (the lower the better)

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principal loan

the original amount of money borrowed (not the interest)

mortgage

loan for a house (foreclosure happens if you don’t pay this)

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Investment

the choices you make that can influence your (financial) future ex: stocks, savings, bond, mutual fund

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Bond

An IOU that you can purchase from the government or corporation in which you put your money in & it can grow (ex: savings )

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unemployment

people who don’t have a job (may get help from the government)

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inflation

money loses its value & can lead to price increase *wage spiral

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GDP (Gross Domestic Product)

total amount of goods & service produced in one year in a country *helps us measure how healthy the economy is

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revenue

income received by the government from our taxes

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tax

mandatory payment to government (ex: you pay this to your local, state & federal government)

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expansionary policy

cut taxes or increasing spending to GROW the economy ex: use this policy during/after a recession or a depression

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contractionary policy

raise taxes or decrease spending to SLOW the economy ex: use contractionary policy to avoid inflation

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fiscal policy

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National debt

Total amount of deficits plus the interest *U.S. 19 trillion

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import

to bring goods into a country

export

to send goods out of a country

The principle of comparative advantage

Everyone does best when each person (or country) concentrates on the activities for which his or her opportunity cost is lowest

you need marginal benefit to be equal or greater than the marginal cost

—-

absolute advantage

the ability of a party (an individual, or firm, or country) to produce a greater quantity of a good, product, or service than competitors, using the same amount of resources.

comparative advantage

the ability to produce goods at a lower opportunity cost than other economic actors.

principle of increasing opportunity cost

once all factors of production (land, labor, capital) are at maximum output and efficiency, producing more will cost more than average. As production increases, the opportunity cost does as well.

reasons for being at inefficient point inside PPF

-under utilization of existing resources (like unemployment)
-inefficient usage of existing resources

productive efficiency

all resources are being used, on the PPF

allocative efficiency

producing the combination of goods and services that consumers WANT

economic growth

increase in the total output of economy (getting more of one good without getting less of another). Producing more using existing resources.

what makes the PPF go up and to the right?

growth

attainable points

those that lie on or within the PPF

slope of PPF

gives opportunity cost of producing an additional unit of the good measured along the horizontal axis

PPF

describes the max amount of one good that can be produced for every possible level of production of the other good

for an economy that produces 2 goods

-the greater the difference among individual opportunity costs, the more bow-shaped the PPF will be
-the more bow-shaped the PPF is, the greater the potential from specialization.

the scarcity principle

people have unlimited wants but limited resources. Having more of one good means less of another

the cost benefit principle

take an action if and only if the extra benefits are at least as great as the extra costs

Pitfalls!

1) measuring costs and benefits as propositions rather than absolute dollar amounts
2) being influenced by framing of the alternatives
3) ignoring implicit costs
4)failure to ignore sunk costs
5) failure to understand the average-marginal distinction

opportunity cost

the value of the best alternative that is sacrificed by the pursuit of a given activity

allocating

allocate each unit of the resource to the production activity where its marginal benefit is highest. And so that its marginal benefit is the same in every activity

firm

organization that transforms resources (inputs) into products (output). Firms are the primary producing unites in a market economy

households

the consuming units in an economy

output markets

the markets in which goods and services are exchanged

input markets

the markets in which the resources used to produce goods and services are exchanged

labor market

the input/factor market in which households supply work for wages to forms that demand labor

capital market

the input/factor market in which households supply their savings, for interest or for claims to future profits, to firms that demand funds to buy capital goods

land market

the input/factor market in which households supply land or other real property in exchange for rent

factors of production

the inputs into the production process. Land, labor, and capital are the three key factors of production

centrally planned economies

an economy in which a central government either directly or indirectly sets output targets, incomes, and prices.
ex: USSR, Maoist China

Laissez-Faire Economies (the free market)

means “allow them to do” in French. An economy in which individual people and forms pursue their own self-interest without any central direction or regulation

mixed systems

pure forms of centrally planned or laissez-faire economies are hard to find, all economies are in some ways “mixed.”

Quantity Demanded

the amount (# of units) of a product that a household would buy in a given period if it could buy all it wanted at the current market price.

demand schedule

shows how much of a given product a household would be willing to buy at different prices

law of demand

the negative relationship between price and quantity demanded
- demand curves slope downward
- as price rises, quantity demanded decreases
- as price falls, quality demanded increases

Determinants of Household Demand

income, wealth, prices of other goods and services, tastes and preferences, expectations

income

sum of all household’s wages, salaries, profits, intrest payments, rents, and other forms of earnings in a given period of time

wealth or net worth

total value of what a household owns minus what it owes

normal goods

goods for which demand goes up when income is higher and for which demand goes down when income is lower

inferior goods

goods for which demand tens to fall when income rises

subsitutes

goods that can serve as replacements for one another; when price of one increases the demand for the other increases

perfect substitutes

near identical products

complements, complementary goods

goods that “go together”; a decrease in the price of one results in an increase in demand for the other and visa versa

law of diminishing utility

…

movement along demand curve

if there is a change in price and the quantity demanded changes accordinglu, we are simply MOVING from one point on demand curve to another

shift of demand curve

if there is a change in something other than price which influences demand( like income, expectations, preferences, etc), then demand curve SHIFTS

profit

=revenues - costs. It drives supply decisions

quantity supplied

the amount of a good or service that a firm is willing and able to supply at a given price

supply schedule

a chart that lists how much of a good a supplier will offer at alternative prices

Law of Supply

the positive relationship between price and quantitiy of a good supplied

how does a supply curve slope?

upward. . . an increase in price leads to increase in quantity supplied.
a decrease in price leads to a decrease in quantity supplied

determinants of supply

the cost of production, prices and related products, weather and other Natural Disasters, Expectations

movement along supply curve

the change in quantity supplied brought about by a change in price

shift of supply curve

the change in quantity supplied brought about by anything other than price. . .
a change in the quantity supplied at any given price

excess demand

quantity demanded > quantity supplied

excess supply

quantity demanded < quantity supplied

market equilibrium

quantity demanded = quantity supplied

when supply and demand curves shift, the ________ and _________ change.

equilibrium price and quantity change

imports

…

consumer surplus

the difference between the maximum amount a person is willing to pay for a good and its current market price

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producer surplus

the difference between the current market price and the cost of production for the firm

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price floor

a legal minimum on the price at which a good can be sold

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price ceiling

a legal maximum on the price at which a good can be sold

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tariffs

taxes on imported goods

equilibrium price and quantity

the price and quantity at the intersection of the supply and demand curves for the good

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excess supply

the amount by which quantity supplied exceeds quantity demanded when the price of a good exceeds the equilibrium

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excess demand

the amount by which quantity demanded exceeds quantity supplied when the price of a good lies below the equilibrium price

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change in the quantity demanded

a movement along the demand curve that occurs in response to a change in price

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change in demand

a shift of the entire demand curve

change in supply

a shift of the entire supply curve

change in the quantity supplied

a movement along the supply curve that occurs in response to a change in price

buyer’s surplus

the difference between the buyer’s reservation price and the price he or she actually pays

seller’s surplus

the difference between the price received by the seller and his or her reservation price

total surplus

the difference between the buyer’s reservation price and the seller’s reservation price

elastic

the demand for a good is elastic with respect to price if its price elasticity of demand is greater than 1

price elasticity of demand

the ratio of the proportional change in quantity demanded to the proportional change in price; measures the responsiveness of quantity demanded to changes in price

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elasticity

a general concept used to quantify the response in one variable when another variable changes

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inelastic

the demand for a good is inelastic with respect to price if its price elasticity of demand is less than 1

unit elastic

the demand for a good is unit elastic with respect to price if its price elasticity of demand equals 1

perfectly inelastic demand

demand in which quantity demanded does not respond at all to a change in price

perfectly elastic demand

demand in which quantity drops to zero at the slightest increase in price

minimum wage

a price floor set for the price of labor

positive economics

an approach to economics that seeks to understand behavior and the operation of systems without making judgements. It describes what existed and how it works

normative economics

an approach to economics that analyzes outcomes of economic behavior, evaluates them as good or bad, and may prescribe courses of action

social optimal allocation

is an economically efficient allocation

price rationing

whenever there is a need to ration a good (when a shortage exists, in a free market, the price of the good will rise until quantity supplied equalis quantity demanded (market clears))

How can the limited supply be distibuted by other mechanisms?

queuing, favored customers, ration coupons, black market

queuing

waiting in line as a means of distributing goods and services

favored customers

those who recieve special treatment from dealers during situations of excess demand

ration coupons

tickets or coupons that entitle individuals to purchase a certain amount of a given product per month

black market

a market in which illegal trading take place at market-determined prices

availability of substiutes

easy to give up something if it can be readily substituted

salt

no good substitute, highly inelastic

the importance of being unimportant

when an item represents a relatively small part of our total budget, we tend to pay little attension to its price

luxuries vs necessites

luxury goods (ex yachts) tend to have relatively elastic demand, and necessities (ex food) have inelastic demand

the time dimension

in the longer run, demand is likely to become more elastic because households make adjustments over time, and producers develop substitute goods

total revenue for the producer

= price x quantity

if E>1

a price increase will decrease total revenue

if E<1

a price increase will increase total revenue

if E=1

a price increase will not change total revenue (approx)

income elasticity of demand

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cross-price elasticity of demand

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elasticity of supply

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budget constraint equation

see equation in notes!

budget constraint

the limits imposed on household choices by income, wealth, + product prices

how to construct the budget constraint graphically

- Find x and y intercepts or how much something
- Intercepts: total amount of good __ txt can be purchased if we spend all of our available budget on good __
- Plot x and y intercepts and connect
- points on and below the budget constraint are part of the “opportunity set”
- points beyond the budget constraint aren’t feasible

how income affects budget constraint

increases: both x and y intercepts will be larger—> budget constraint shifts OUTWARD AND ENLARGES OPPORTUNITY SET, no change in slope

decreases: budget constraint shifts INWARDS towards, no change in slope

how price affects budget constraint

- decreases: we buy more of that good, x intercept will be larger than before—> budget constraint shifts OUTWARD AND ENLARGES OPPORTUNITY SET

- increases: we buy less of tht good—> budget constraint shifts INWARD

- prices of goods will determine the slope of the budget constraint

choice set or opportunity set

- within these constraints imposed by limited incomes + fixed prices, households are free to choose what they will and will not buy

-(a household makes a choice by weighing the good/service tht it chooses against all other things the same money could buy )

- w/in a limited budget, the real cost of any good or service is the value of the other goods and services txt could have been purchas

CPI method

1.household expenditure survey
2.weighted
3.price changes measured
4.index

Problems with the CPI

1 .doesn’t include everyone (pensioners)
2. changes in quality make comparisons hard
3. Doesn’t include every product
4. Ignores housing costs

RPI

Retail price index, similar to CPI but includes more factors like mortgage payments. Makes RPI more volatile than CPI ( increase in IR would increase RPI more than CPI)

Core inflation

measuring the underlying rate of inflation, excludes volatile factors such as raw materials (increase in oil prices would increase CPI while core inflation would remain stable)

Deflation

A general decrease in the price level

Problems of deflation (4)

1. Delays spending
2. Increases the real value of debt
3. Causes real wage unemployment
4. Deflationary spiral

Benefits of deflation (2)

1.Improved competitiveness
2. If deflation is caused by increased productivity and better technology it will better GDP

Benefits of Growth (6)

1.Higher incomes
2. Lower unemployment
3.Lower govt. borrowing
4. Improved public services
5. More spent on environmental spending
6. Increased investment

Costs of growth

1. increased inflation
2. recession(if unsustainable growth)
3. CA deficit
4. eco-costs
5. inequality

Measures on unemployment

1. claimant count
2. labour force survey

Claimant count

1.the official govt. measure
2.counts the number of people claiming benefits

problems with the claimant count (3)

1 .excludes those over 60 and under 18, people on govt. training schemes
2. some claim benefits while still working on the black market
3.strcit rules mean JSA can easily be lost by missing an interview etc

Labour force survey

survey asking 60,000 whether they were unemployed and whether they were looking for a job

problems with the labour force survey

1. people may lie
2. only a sample
3. people may have different conceptions of actively seeking work

Negative output gap

When actual GDP is below the productive potential of the economy.

causes of negative output gap (3)

1. cutting govt. expenditure(austerity)
2. falling house prices
3. increase IR, increase cost of borrowing

impact of negative output gap (6)

1.wasted resources
2. low rates of growth
3. infl, below target
4. low investment
5. lower tax revenue
6. more spent on benefits

Positive output gap

When actual GDP is above potential GDP

effects of a positive output gap

1. inflation
2. lower UE
3. worse CA
4. increase IR to combat inflation
5. unsustainable and could lead to downturn

trading blocs

a group of countries who agree on common rules for trade and tariffs (NAFTA and ASEAN)

free trade trade areas

concentrate on free trade and removing tariff barriers

Single European market

where all restrictions to trade, including tariffs, quotas and other barriers have been abolished between countries who are members of the European Union. This has created free trade within the European Union.

Benefits of eu membership (6)

1. more trade and gains from CA
2. greater competition increases efficiency and reduces prices
3. lower costs for firms to have common rules and regulations
4. increased direct investment which promotes better efficiency
5. countries can benefit from more flexible labour markets
6. greater room for international trade negotiations

Disadvantages of EU membership (3)

1. free movement of labour causes overpopulation and housing shortage
2. could be more difficult to reach a consensus because of the large number of countries
3. expensive to join

joining the euro (4)

1. Replacing domestic currency with euro
2. No way of changing ER
3. common monetary policy, IR set by ECB
4. Rules about the size of the budget deficit

Advantages of joining the euro (5)

1. lower transaction costs
2. eliminate ER fluctuations
3. increased inward investment (confidence)
4. better price transparency (easier to compare)
5. lower inflation (ECB has a tradition of low infl.,encourages firms to be competitive as they can’t rely on devaluation)

disadvantages of joining the euro

1. lose the ability to set IR (ID may not be appropriate for all)
2. lack of ER flexibility
3. low infl could conflict other objectives
4. loss of independence over fiscal policy ( no more than 3% of GDP)

OCA

optimal currency area, an economic area where the benefits of a single currency outweigh the costs

what’s required for an OCA (4)

1. Similar economic cycle
2. Similar inflation rate
3. Mobility of labour and capital
4. Fiscal union ( similar budget deficits)

How to alter ER

1. reserves and borrowing
2. IR
3.reduce AD, fewer imports and consumers supply fewer pounds
4. reduced inflation makes goods competitive and demand for currency increases in LR

Market failure in financial sector

1. Asymmetric information
2.Moral hazard
3. Asset bubbles

Asymmetric information

when some parties don’t have accurate information about another party, lenders can charge high rates

Moral Hazard

when financial guarantees alter economic behavior and increase risk-taking and when that risk is borne by others

requirements for moral hazard

asymmetric information, a contract affecting the behaviour of 2 different agents

Assest bubbles

when asset prices rise rapidly and become overvalued. when the bubble bursts, prices fall rapidly

how asset bubbles arise (4)

1. overconfidence
2. short term proft (incentive too look for STP in rising asset bubbles)
3. psychology, think they can outwit the market and get out before the bubble bursts
4. moral hazard (bankers gets bonuses if they sell loans and are bailed out by govt.)

why government borrow

to enable higher spending and investment without having to increase taxes

problems of government borrowing

1.higher debt interest payments
2. higher IR (markets may be unconfident about a govts ability to repay so may demand higher bond yields in return)
3. crowding out (private sector lends to gov and have less to invest and there is no overall boost to economy)
4. higher taxes in future to repay debt

Flexible Labour Markets

labour markets quickly adjust to a competitive equilibrium

Factors of a flexible labour market (3)

1. easy to hire and fire workers
2. labour is mobile
3. govt, intervention doesn’t distort the market

characteristics of flexible labour markets (5)

1. skilled workforce that adapts to changing requirements
2. flexible hours and contracts
3. self-employment
4. labor markets are competitive
5. no unions

what has caused labour markets to become more flexible (4)

1. globalisation, increased competition
2. tech changes, easier to have FLM
3. changing the social environment ( more women, part-time, aging pop.)
4. privatisation, private firms increase profits by cutting excess workers

impact of flexible labour markets (5)

1. reduces unemployment
2. lower wage growth- helps firms keep wages low
3. more job uncertainty (motivation to work)
4. poor labour productivity (could discourage firms from investing, investments could be wasted if workers are on short term contracts)
5. increased profitability ( helps firms reduce costs, employ more workers for fewer hours)

terms of trade

export price index / import price index

export price rise relative to import prices tot

improvement in TOT, increased standard of living as goods appear cheaper to consumers

scarcity

we have to decide how and what to produce from limited resources. It means there is a constant opportunity cost involved in making economic decisions.

who scarcity is solved

by placing a higher price on scarce goods. The high price discourages demand and encourages firms to develop alternatives.

PPF shape

concave because of imperfect factor substitution and a straightPPF is an indication of perfect factor substitutability of resource

specialisation

Specialisation occurs when workers are assigned specific tasks within a production process. Workers will require less training to be an efficient worker.

benefits of specialisation

an increase in labour productivity and firms will be able to benefit from economies of scale (lower average costs with increased output) and increased efficiency.

disadvantages of specialisation (3)

1. If workers do specific tasks, it may become boring and their productivity may fall as a result. 2. High levels of specialization could lead to possible diseconomies of scale.
3. If an assembly line becomes highly specialised, production could be brought to a halt if there is a blockage in one area. It can be beneficial if there are more people specialised in different aspects.

product market

refers to a place where goods and services are bought and sold

factor market

refers to the employment of factors of production, such as labour, capital and land.

Why the AD Curve Slopes Downward

1. Real balance effect-At a lower price level, consumers are likely to have higher disposable income and therefore spend more.
2. Trade effect- If there is a lower price level in the UK, UK goods will become relatively more competitive, leading to higher exports. Exports are a component of AD, and therefore AD will be higher.
3.Interest rate effect-At a lower price level, interest rates usually fall, and this causes higher aggregate demand.

Why the AS curve slopes upward

1. Higher prices for goods and services make the output more profitable and enable businesses to expand production by hiring less productive labour and other resources

consumer surplus

This is the difference between what the consumer pays and what he would have been willing to pay.

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producer surplus

This is the difference between the price a firm receives and the price it would be willing to sell it at.

how elasticity effects consumer surplus

If demand is price inelastic, then there is a bigger gap between the price consumers are willing to pay and the price they actually pay.

Income elasticity of demand (YED)

measures the responsiveness of demand to a change in income. %change in demand/%change in income

Cross-price elasticity of demand (XED)

measures the percentage change in quantity demand for a good after a change in the price of another. % change in Q.D good A/ % change in price good B

Substitute goods

have a positive cross-elasticity of demand

compliment goods

have a negative cross elasticity of demand

disadvantages of minimum wage (economy)

1.there will be a rise in consumer spending. Low-income workers are likely to have a higher marginal propensity to consume
2.an increase in the minimum wage would increase their costs of production. But if they seek to maintain wage differentials - they may need to increase the wages of more qualified workers -
3.Higher spending by workers (demand pull inflation)
4.Higher costs for firms, leading to wage-push inflation.(however firm’s overall costs, the minimum wage bill is only a small component)

disadvantages of minimum wage (workers)

1.Poorest don’t benefit. A limitation of the minimum wage is that it doesn’t increase the incomes of the lowest income groups. This is because the poorest have to rely on benefits and are therefore not affected by minimum wages.
2. Limited impact on relative poverty. Many who benefit from the minimum wage are second income earners, and therefore the household is unlikely to be below the poverty line. A household with a single income earner just above the minimum wage is likely to be relatively poorer. But they will not benefit from the minimum wage.

advantages of minimum wage (6)

1. Reduces poverty. The minimum wage increases the wages of the lowest paid. These workers will have increased income and will reduce relative poverty.
2. Increase productivity. that higher wages can increase the incentive for people to work harder and thus higher wages may increase labour productivity.
3. Increases the incentives to accept a job. With a minimum wage, there is a bigger difference between the level of benefits and the income from employment. A minimum wage could also increase the participation rate as the benefits of work become greater
4. Increased investment. Firms will have an increased incentive to invest and increase labour productivity because labour is more costly. In the long-term, this can encourage greater investment and labour productivity
5. Knock on effect of minimum wage. Although only 5-7% of workers are on the minimum wage, the minimum wage has an indirect effect on the wages of those just above the minimum wage. Firms may need to increase wages for those just above the minimum wage floor - to maintain pay premium for experienced workers.
6. Counterbalance the effect of monopsony employers. If firms have Monopsony power they can drive wages down by employing fewer workers. However, minimum wages will make this more difficult. Therefore a minimum wage could have a positive effect on employment.

benefits of net migration

1. Increase in Labour Force/Offset aging population
Migrants are more likely to be of working age. The majority of migrants come for work or study (students) They may bring dependents, but generally net immigration leads to an increase in the labour force

2. Increase in aggregate demand and Real GDP
Net inflows of people also lead to an increase in aggregate demand. Migrants will increase the total spending within the economy. As well as increasing the supply of labour, there will be an increase in the demand for labour

3. Labour Market Flexibility
Net migration could create a more flexible labour market. Migrants will be particularly attracted to move to the UK if they feel that there are job vacancies in particular areas. The government has also sought to attract migrants from various countries to meet shortfalls in job vacancies in key public sector jobs, such as nursing.

4. Positive impact on the dependency ratio
Net migration helps to reduce the dependency ratio. Migrants are a source of working age people, and this helps to reduce the ratio of retired to working people. This has benefits for the government’s budget. If migrants are of working age, they will pay income tax, VAT - but will not be claiming benefits.

disadvantages of net migration

8. Welfare benefits

A popular idea is that immigrants are more likely to receive welfare benefits and social housing. The suggestion is that Britain’s generous welfare state provides an incentive for people to come from Eastern Europe and receive housing and welfare benefits. While immigrants can end up receiving benefits and social housing.

6. Social issues

Another issue felt keenly in the UK, is the concept that we are already ‘overcrowded’ In this case, a rapid increase in the population due to migration could lead to falling living standards. For example, the UK faces an acute housing shortage, but also an unwillingness to build on increasingly scarce green belt land. In many cities, it is difficult to build more roads because of limited space. The increased population could increase congestion and urban pollution. Therefore, the increase in real GDP has to be measured against these issues which affect the quality of life.

price function

1. Price acts as a signal for shortages and surpluses which help firms and consumers respond to changing market conditions.
2. in the long run, high prices act as an incentive for firms to supply more.

competition policy

Government policies to prevent and reduce the abuse of monopoly power. UK competition policy is regulation by CMA (Competition and Markets Authority). This used to be managed by OFT and Competition Commission.

classical view of LRAS

The Classical view is that Long Run Aggregate Supply (LRAS) is inelastic. This has important implications. The classical view suggests that real GDP is determined by supply-side factors - the level of investment, the level of capital and the productivity of labour e.t.c. Classical economists suggest that in the long-term, an increase in aggregate demand (faster than growth in LRAS), will just cause inflation and will not increase real GDP>

Keynesian view of LRAS

The Keynesian view of long-run aggregate supply is different. They argue that the economy can be below full capacity in the long term. Keynesians argue output can be below full capacity for various reasons:
1.Wages are sticky downwards (labour markets don’t clear)
2. Negative multiplier effect. Once there is a fall in aggregate demand, this causes others to have less income and reduce their spending creating a negative knock-on effect.
3. A paradox of thrift. In a recession, people lose confidence and therefore save more. By spending less this causes a further fall in demand.

Keynesians argue greater emphasis on the role of aggregate demand in causing and overcoming a recession.

Roles of the bank of England

1. Money Supply. issuing bank notes and coins. need enough to meet demand, without causing excess inflation.
2. Lender of Last Resort. if commercial banks suffer a shortfall of cash then they can always borrow money from the Bank of England. This is an important function has it helps maintain liquidity and confidence in the banking system. This role was tested in 2007 when Northern Rock couldn’t raise enough funds on the money markets and were forced to borrow from the Bank of England with government acting as guarantor.
Setting Interest Rates. In particular the Bank have an inflation target of CPI 2% +/-1. The Bank produces an inflation forecast and set interest rates according to predictions of future inflation.

who regulates banks

Banks are regulated by the Financial Services Authority. FSA. The FSA regulate the way banks treat money and the criteria they use for lending and dealing with complaints.

factors of flexible labour markets (3)

1. easy to hire and fire workers
2. labour is geographically and occupationally mobile
3. govt intervention doesn’t distort the market

why has there been increasingly flexible labour markets 4

1. globalisation, more competition, firms have to keep labour costs low
2. technology
3. changing social enenvironment such as more women in the workforce having part time/ flexible work. ageing population choosing part-time work
4. privatisation private firms increasing profits by cutting access workers and inflexible labour contracts

UK merger policy

any merger must give details to OFT. if OFT is concerned they can refer to the CCA

Public private partnerships

occurs when th government seeks to involve a private firms in a public investment programme eg. m4 relief road

advantages of public private partnerships (4)

1. private firms will pay part of the cost( saves money)
2. private firms avoid ‘white elephants’ (schemes not needed by the market)
3. private firms encourage efficiency because they have profit incentive
4. government subsidy ensures that the external benefits of the scheme are considered

disadvantages of PPP (3)

1. government invests substantial funds but private firm gets better benefits
2. private firms will pick most profitable schemes and ignore the necessary ones
3. private firms may run the scheme to be profitable

contestable markets

where there is free and costless entry and exit. this requires low sunk costs

conditions for contestable markets (3)

1. absence of sunk costs
2. perfect information
3. freedom to advertise and a legal right to enter the market

hit and run competition

1. new firms see supernormal profit being made and join the market
2. if prices fall and the industry is no longer profitable the new firms will leave
3. in a contestable market, firms need to be happy with normal profits

benefits of contestable market (4)

1. Lower prices
2. increased incentives to cut costs
3. incentives to respond to consumers
4. could be economies of scale because theory doesn’t require many firms

disadvantages of contestable markets (2)

1. policy makers should look at degree of contestability
2. regulators tend to remove barriers to entry instead of breaking up big firms

what is the point of price

1. price mechanism
2. signalling function
3. incentive function

Price mechanism

price provides the main method through which resources are allocated

signalling function

signals what is available, conveying information to consumers and producers

incentive function

priced creates incentive for agents to behave in ways consistent with their self interest. rising price nay result in firm expanding production or consumers contracting demand to maximize utility

why do some workers earn more than others?(7)

1. barriers to entry(qualifications)
2. occupational mobility
3. regional immobility ( house prices, north/south divide)
4. discrimination (age,gender,race, sexuality, religion)
5. desirability/ risk
6. trade unions
7. part/ full time work

gender pay gap (6)

1. maternity leave(women miss experience and child bearing age is when career progression is high)
2. cultural perception( that women are 2nd income earners and men are more qualified)
3. occupational segregation (“women’s work”)
4. workplace segregation (“glass ceiling”, women less likely to go for promotions)
5.travel patterns (women less likely to commute so smaller pool of jobs and lower wages)
6. trade unions(women less likely to be a part of a trade unions)

predatory pricing

selling a product below cost to drive competitors out of the market

price discrimination

involves charging a different price to different groups of people for the same good

1st degree price discrimination

charging consumer the max price they are willing to pay. no consumer surplus

2nd degree price discrimination

charging different prices depending on quantity bought (loyalty cards for frequent flyer)

3rd degree price discrimination

charge different prices to different groups of people

requirement for 3rd degree price discrimination (3)

1. ability to set price. some market power
2 ability to segment the market (oap card)
3. ability to prevent resale

benefits of price discrimination (4)

1. some get lower prices
2. higher profits
3. avoid congestion ( managed demand, incentive to travel at quieter times)
4. firms can offer services which would otherwise be unprofitable

disadvantages of price discrimination (6)

1. some pay higher prices
2. potentially unfair
3. admin costs
4. decline in consumer surplus
5. pensioners can be richer (unneeded discounts)
6. profits from PD can fund predatory pricing

reasons for protectionism (6)

1) To protect jobs
2) To protect infant industries
3) To prevent dumping
4) To raise revenue
5) avoid risk of specialisation
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why is there a discontinuity in the MR for kinked demand curve

the 2 mr curves for each section don’t cross

what affects investment within firms (5)

1. IR (high ir makes borrowing and therefore investment more expensive, higher opportunity cost
2. Econ growth ( firms invest to meet future demand so if growth is high, investment will increase)
3. confidence(investment is riskier than saving so will only invest if confident)
4.inflation ( will affect confidence)
5.wage growth (makes labour more costly so firms will seek to maximise productivity and invest in their labour)

what affects levels of FDI (6)

1, wage growth (firms will outsource labour in counties with low wages to save costs)
2. labour skills (mncs will invest in countries with a combination of low wages, high labour productivity and skills)
3. tax rates (Laffer curve, lower corp tax will attract FDI)
4. transport and infrastructure ( if it is costly to get goods onto the global market it defeats the point of investing in a country with low wage and skills)
5.political stability (confidence)
6. exchange rates (a weak exchange rate in host country attracts FDI as its cheaper for MNCs to buy assets)

FDI

when companies purchase capital and invest in a foreign country

government failure

when the costs of intervention outweigh the benefits

reasons for government failure

1. lack of incentives (low profit motive in public sector, not need to be efficient, e,.g govt. overstaffed due to political backlash over unemployment)
2. poor information ( poor knowledge over what services are needed and wanted)
3. policy myopia (short term relief for political gain)
4. regulatory capture (regulators feeling sympathetic towards the business and allowing monopolies to continue charging high prices)
5. law of unintended consequences ( how economics decisions may have effects that are unexpected)

Market Failure

when the free market fails to allocate scare resources at the socially optimum level

Factors that cause a CA deficit

1. overvalued exchange rate ( M becomes cheaper and Q increases and X becomes more expensice)
2. Econ growth (

characteristics on monopoly (7)

1. 25% of market share
2. Profit max
3. price makers
4. limited products
5.low contestability
6. high barriers to entry
7. make SNP

characteristics of oligopoly (9)

1. few firms dominate the market (high concentration ratio)
2. interdependence
3. price makers
4. differentiated goods
5. price rigidity
6. non-price competition
7. kinked D curve
8. high barriers to entry
9. focus on market share

Characteristics of monopolistic competition. (8)

1. many, small buyers and sellers
2. low barriers to entry
3. differentiated products (branding)
4. slight price making power
5. elastic demand
6. good information
7. pmax
8. normal profit in LR and SNP in SR

Efficiency of Monopolistic Competition

1. allocative inefficiency
2. productively inefficient
3. dynamically inefficient (no profits)

Characteristics of perfect competition (7)

1. many buyers and sellers
2. homogenous goods
3. no barriers to entry
4. perfect information
5. normal profits
6. price takers
7. pmax

Efficiency of Perfect Competition

1. productively efficient
2. allocative efficient
3. dynamically inefficient (no SNP to invest)

actors of Production

Capital refers to goods that are used to produce others goods and services eg machinery
Enterprise = having ideas and taking risk is setting up or running a business. An individual who seeks to supply products to a market to make a profit.
Labour is the human input into the production process. Physical or Intellectual.
Land includes land and all the natural resources on, above and below the land .

Economic Problem

We have unlimited wants but only limited resources to satisfy them - how do we make a choice?

Opportunity Cost

The cost of the next best alternative forgone when making a decision

Economic activity

Purpose is to produce goods and services to satisfy consumers’ needs and wants.

Production of goods and services.

Goods are items that you an touch (tangible). Services are intangible.
Primary sector- extraction of raw materials - mining, farming, fishing, forestry.
Secondary Sector- Raw materials are manufactured into goods - car manufacturing, furniture, electronic goods.
Tertiary - Service sector- Tourism, banking, education, transport

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Questions for allocating resources

What goods and services should be produced ?
How should the economy uses it’s resources ?
What mix of goods will it produce?
Best way to produce goods and services?
Best use of scarce resources?
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Different types of economies

Market economy - where all resources are allocated by private individuals and groups- everyone acts in their own self interest and there is no government involvement in the allocation of resources.
Mixed economy - mix between market and planned economy - some resources are controlled by the government and some are controlled by private individuals e.g. UK government controls healthcare but there is also private ownership

Public vs Private Enterprise

Public - Run by the government - purpose is not to make a profit - they are run to provide vital services 40 % of economic activity in the UK.
Private - owned and run by private individuals and groups - objective is to make the largest possible profit.

Specialisation

A method of production where a business or area focuses on the production of a limited scope of products or services in order to gain greater degrees of productive efficiency within the entire system of businesses or areas.

Why do we specialise?

To increase productivity and efficiency - we produce more of one type of good

Benefits of Specialisation

To the firm- Workers become more productive, Increased productivity leads to production cost decreasing, production levels are increased.
To the workers- Specialised workers tend to get higher pay , workers’ specific skills will be improved, more motivation from job satisfaction

Costs of specialisation

To the firm- greater cost of training workers, quality may suffer if the workers become bored by the lack of variety in their job, more expensive workers.
Costs to the worker- boredom for the worker as they do the same job every day, workers’ skills may suffer as they are only doing on job, workers may eventually be replaced by machinery.

Functions of money

Medium of exchange - exchanging money for a good or service.
Unit of count- gives us the ability to give goods and services a monetary value.
Store of value- Ability to store and keep a value.
Means of deferred payment- Deferring payment of a good or service by borrowing money

Competitive market

A market situation where there are a large number of buyers and sellers i.e. demand and supply.

Implications on firms ( by operating in a competitive market)

A firm that can successfully supply the goods or services consumers want , at a price they wish to pay, will thrive and earn profits itself. It may be able to grow larger and gain a larger market share. If a firm fails to satisfy consumers they will fail.

Monopoly

A situation where there is only one firm selling in a market.
Different ways to achieve monopoly power( more than 25 % of market share)-
Merger and takeover
Statutory monopoly ( given monopoly status by government think water companies)
Internal expansion - increases market share
Branding - create a reputable brand and gain more market power
Cost barriers overcome as they are large so they gain internal economies of scale

Consequences of Monopoly Power

Bad-
High prices as there is lack of competition so only one supplier controls the cost of the goods- demand is inelastic.
Poor quality- no competition so there is no incentive to produce high quality goods.
Good-
Research and development as the monopoly has high profit levels, benefits the consumer in the long run.
International competitiveness - The monopoly power is strong enough to gain advantages that allow it to compete on an international scale.
Exploitation of economies of scale

Evaluation of monopoly power

First question - is it a full 100% monopoly or just a partial - if it is partial then there still may be some degree of competition.
Also consider consequences to the firm itself- does it have the ability to keep up with consumer choice or will it become complacent.
Effect on others not just the consumers and the firm- will workers be exploited if there is no alternative employment in that industry or is it so large that they can afford to pay their workers generously. Online professional tutoring made easier at www.perfectgrader.com. At www.perfectgrader.com, we offer essay help and writing services tailored to help college students in the United States, Uk, Singapore, Austraria, and many other countries across the globe. www.perfectgrader.com not only help students through a virtual platform but also provide an array of services for you as the client to converse with your tutor in real-time. Our services include Math help, essay writing services, research paper help and so much more. When it comes to service provision, Acemy-homework.com is an unmatched website. Hire a tutor to get homework and assignment help instantly Register at www.perfectgrader.com today and begin an exciting journey in academic proficiency.

Large firm can have consequences on other competitors and potential competitors eg land grabbing to stop rivals building there. Predatory pricing - reducing the price so low to drive out all other competition and then suddenly increasing the price.

Government and competition

Competition policy - promote competition makes markets work better Technological innovation which promotes dynamic efficiency in different markets
Effective price competition between suppliers
Safeguard and promote the interests of consumers through increased choice and lower price levels

Demand

The quantity of buyers are willing and able to buy at a given price in a given period of time.
Effective demand- for demand to be effective a consumer must be both willing and able to buy the good or service. They must want the g or s , and they must have the means to afford the g or s .

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Contraction of demand

The fall in the quantity demanded due to a rise in the price.

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Extension of demand

The increase in the quantity demanded due to fall in the price.

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Shifts in demand

Right shift demand increases but the price stays the same.
Left shift demand decreases but the price stays the same

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Factors that cause the demand curve to shift

PASIFIC
Population- increase in population = increase in demand
Advertising = increasing advertising increases the amount of people aware of a product = makes them more likely to buy them.
Subsitutes = price of goods that could be used instead of that good. Eg pepsi and coca cola. If price of coca cola fell, demand for pepsi may fall as more people would buy coca cola.
Income= Average income rises so there is more disposable income so demand will increase as consumers buy more.
Interest rates- if interest rates rise - more people may save so there will be less spending and loans will become more expensive so demand will fall.
Complementary goods- in joint demand eg dvd player and DVDs

Price Elasticity of Demand

PED measure responsiveness for a quantity demanded to a change in price. Percentage change in quantity demanded / percentage change in quantity demanded.

Perfectly inelastic demand

Value of 0. The quantity demanded remains the same even if the price changes

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Inelastic demand

<1 . The quantity demanded changes at a lesser rate than price.

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Unit elastic demand

1. The quantity demanded changes at the same rate as the price.

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Elastic demand

>1. The quantity demanded changes at a greater rate than the price.

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Perfectly elastic demand

Value of infinity. Any quantity is is demand at a given price.

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Implications of PED.

Firms look at PED to decide what they can do to increase their total revenue.
If demand for a product is elastic, firm must decrease its prices in order to increases total revenue.
If demand for a product in inelastic, the firm must increase its price in order to increase total revenue.

Influencing factors of PED

Number of close substitutes within the market- if there is more and closer substitutes the demand will be more elastic.
Cost/ease of switching- if cost of switching is high then demand will be inelastic.
Degree of necessity or luxury- If good is a necessity then demand will be inelastic as consumers need these goods. If the good is a luxury then demand will be very elastic as the consumers can do without the good.

Supply

The quantity a producer is willing and able to produce at a given price in a given period.
Basic law of supply is that as the price of a product rises businesses expand their supply onto their market.
If price rises there will be an extension of supply but if the price falls there will be a contraction of supply

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Factors other than price which affect supply

Productivity - if productivity increases , the quanity supplied will increase and cause the supply curve to shift right
Indirect taxes- if the governemtn increases the tax on a good supply will shift to the left.
Number of firms in the market - if there are more firms entering the market overall supply will increase so there will be a right shift in supply
Technology - more advanced technology allows the same amount of goods to be produced in a smaller time so more goods can be produced so supply will shift to the right.
Cost of production - if the cost of production is high then supply will shift left as it wants to make a bigger profit.

Price elasticity of supply

Responsiveness of quantity supplied to a change in the price

Perfectly inelastic supply

0. Quantity supplied remains the same as the price changes

Inelastic supply

< 1. The quantity of supplied changes at a lesser rate than price

Unit Elastic supply

1. Quantity supplied changes at the same rate as the price.

Elastic Supply

>1. The quantity supplied changes at a greater rate than price.

Perfectly elastic supply

Infinity. Any quantity supplied is at a given price.

Factors which affect PES

Level of spare capacity. If there is a lot of spare capacity a producer should be able to without a rise in costs and therefore supply will be elastic in response to a change in demand
Stocks of finished products and components- Same idea as above firm is able to respond to a change in demand quickly by supplying these stocks onto the market , so supply is elastic.
Product lag - eg harvest of crop.

Market forces determining equilibrium .

Equilibrium means there is an equality between market demand and supply.
Buyers are able to buy exactly the quantity they want and producers are able to sell exactly the quantity they want.

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Taxes

Indirect taxes are taxes on spending ( they can be avoided by not spending)
Specific tax - fixed amount that’s charged per unit of a particular good.
Ad valorem tax - charged as a proportion of the price of the good eg 20 % vat.
Indirect taxes increase costs for the producers so they cause the supply curve to shift to the left.

Subsidies Online professional tutoring made easier at www.perfectgrader.com. At www.perfectgrader.com, we offer essay help and writing services tailored to help college students in the United States, Uk, Singapore, Austraria, and many other countries across the globe. www.perfectgrader.com not only help students through a virtual platform but also provide an array of services for you as the client to converse with your tutor in real-time. Our services include Math help, essay writing services, research paper help and so much more. When it comes to service provision, Acemy-homework.com is an unmatched website. Hire a tutor to get homework and assignment help instantly Register at www.perfectgrader.com today and begin an exciting journey in academic proficiency.

Paid to producers to encourage production. Increases supply so the supply curve shifts to the right. Leads to price falling and the demand for the good increasing.

Maximum Prices

Maximum prices to increase consumption of a merit good or make a necessity more affordable eg rent.
Advantages - increase fairness + prevent exploitation of consumers.
Disadvantages - demand is higher than supply there will be shortages
May be a need for rationing
Can lead to black market

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Minimum prices

Set to make sure suppliers get a fair price.
Adv- Producers have a guaranteed minimum income and stockpiles can be used when supply is reduced
D.Adv- Consumers will be paying a higher price than the market equilibrium
Resources used to produce excess supply could be used elsewhere

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Business objectives

Break even
Increase market shjare
Survival
Provide a good service
Long run - maximising profit and sacrificing profit in the short term

Costs

Total costs = all costs
Average cost = total costs/ output
Fixed costs = dont change with ouput eg rent and interest on loans
Variable costs = Vary directly with output - eg raw materials

Revenue

Average revenue = total revenue/ output
Total revenue = Price x Quantity sold

Profit

Total revenue- Total costs

Productivity

Measured as output per worker per period of time.
!Specialisation increases productivity !

Adv. of productivity

Workers are given jobs they are more suited to
Increased output
Lower average costs
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Higher pay for specialised workers
Improved skills

Disadv. of productivity

Higher costs of training
Boredom as workers are doing the same job every day
Quality may suffer as a result of boredom
Workers may be replaced by machinery

How to increase productivity

Capital intensive- productivity increases as machinery can run continually without taking breaks so the amount produced in a certain time period increases
Specialisation
More training

Impact of competition

Lower average costs as production increases in the same time period
More competitive prices as they can offer customers lower prices whilst maintaining profits- useful in a competitive market as more customers will be attracted
Higher profits as average costs fall and product margins increase. Could be used to reinvest in new machinery which may help increase productivity further

How do firms grow

Internal growth- generated through increasing sales. EG buying new equipment,outlets or factories, buy in more labour or market it’s product differently.
External growth - through merger or takeover.

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Why do firms grow

Main reason- increase profit. Others-increase brand image, reduce costs by achieving economies of scale, increase market power

Benefits of growth

Increased profits
Increased market share
New ideas gained from other businesses
Less competition as you are bigger than other rivals
Gains from economies of scales
Less workers necessary

Costs of growth

Different managers may disagree
Merged businesses may have different objectives and targets
Mergers and takeovers initially cost a lot of money
Less choice for consumers in the market
Higher prices to pay
Possible job losses
Possible diseconomies of scale

Economies of scale

As firms grow larger in scale, the long run of average costs fall.
6 different types (internal)
Risk-bearing - firm grows larger- it has the ability to spread the risk over a larger number of outlets/ factories/products
Financial - As a firm grows larger it has the ability to obtain cheaper sources of finance as banks are willing to lend money at a lower rate because they are more likely to pay back the money
Marketing - larger friends find it more cost effective to advertise nationally
Technical- Able to invest in machinery that can increase productivity and therefore lower the average cost of production
Managerial- Ability to employ specialist managers such as finance managers to help make workers more efficient
Purchasing - Ability to take advantage of price reductions as they buy in bulk

External economies of scale

Occur when a whole industry grows - might be because transport and communication links are improved or local training and education opportunities become more focused on that industry

Diseconomies of scale

When a firm grows too large and average costs start to rise
Loss of control - as it becomes too difficult to monitor workers
Lack of co-ordination - too difficult to co-ordinate all aspects of production process when a firm grows larger, especially if a production spans a number of factories
Lack of co-operation - workers may become alienated and lose motivation

Rewards for labour

Wage = individual payment usually for a week’s work - tends to be given as an amount for per hour
Salary = individual payment usually for a month’s work. It tends to be given as an amount per year, divided into 12 equal payments

Gross and net income

Gross income is the amount a person receives before all deductions are taken into account. Deductions include taxes such as income taken and national insurance , pension contributions and student loan repayments.
Net income is a person’s take-home pay
net income = gross income-deductions

Nominal and real income

Nominal income is the income paid to labour unadjusted for the the effects of inflation.
Real income is the income paid to labour adjusted for the effects of inflation.

Labour market

Is the interaction between workers and employees - made up of supply for labour and demand for labour

How are wages determined?

Demand for labour is derived labour- this means that the demand for labour is caused by a demand for the product so if demand for the product increases , demand for labour also increases.

Normally there is an inverse relationship between demand for labour and the wage rate. This is because the higher the wage , the fewer workers the employer is likely to employ.

Supply for labour

Total number of workers willing to supply their labour at a given wage rate. The relationship between wage offered and the supply of labour is positive. This is because as the wage rate rises, more people are willing to supply their labour.
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Change in supply or demand for labour will change the equilibrium and cause a change in both the wage and the level of employment.

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Differences in wage rates

Main reasons for differences in wage
Differences in productivity - higher productivity=higher average wage or salary
Elasticity of supply of labour - the more inelastic the supply , the higher the wage. Elasticity is affected by the skills,education and qualifications
Trade union power - strong trade unions can negotiate higher wages
Differences in demand for the final demand for the product- earnings are higher in booming industries
Government pay policy- public sector workers may have their annual pay level pre-determined
Compensation for high risk level jobs
Different regional costs of living
Employer discrimination

National minimum wage

A pay floor introduced by the government , which sets a wage level below which producer cannot legally go
Main aims are to reduce poverty and to reduce pay differentials between men and women- also reducing exploitation of low-paid workers and providing incentives for unemployed people actively for paid work.

Arguments for a minimum wage

Higher tax revenue is receiver from the increased earnings of those low-paid jobs.
State benefits cost less- there is less need for benefit top-ups
Income is more fairly distributed across population
Poverty is reduced

Arguments against minimum wage

More expensive to employ workers, so firms will cut jobs and unemployment will rise
Other workers will demand higher wages to maintain pay differentials
Higher wage costs will lead to rising inflation
Young and unskilled workers will lose out - firms tend to employ older workers
Some firms may cut back on investment in worker training
Minimum wage will not ease poverty because many poor households do not have a low income earner
Does not take into account regional differences in cost of living

Evaluation of the minimum wage

PED of workers is important consideration. If minimum wage is set above the equilibrium wage for an occupation, and the demand for workers is elastic, then it will lead to a relatively large loss of jobs. Where demand for workers is inelastic , job losses will be fewer.
PES of workers is also relevant. If supply is elastic the total unemployment caused by the minimum wage will be greater than where supply is inelastic. So a minimum wage set above the equilibrium wage could cause particularly high unemployment in occupations where the demand for, and supply, of labour is elastic. And the higher the minimum wage is set, the more dramatic its effects are likely to be

Winners and Losers

Workers who lose their jobs will suffer, while those who retain them at a higher wage rate will gain. We could ask what is the point of raising the wage rate of some workers if it means they all lose their jobs and end up with no wage at all ?

One aim is reduce poverty. But the poorest in society do not work , so this measure will have no effect on them. It will make the gap larger between those who work and those who don’t

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Personality Types

- Type A - Impatient, intolerant & high stress
- Type B - Relaxed, tolerant & low personal stress
- Stable - Unchanged, constant and predictable
- Unstable - Changable, inconsistent & not predictable
- Introvert - high RAS
- Extrovert - low RAS (low arousal)

Personality Theories

1. Trait - Innate/genetic
2. Social learning theory - Learn personality from significant others
3. Interactionist approach - Combination - we are born with certain personality and social learning modifies personality

Components of Attitude

1. Belief (cognitive) - learnt from others
2. Emotion (affective) - reaction to sport or activity
3. Behaviour (behavioural) - how we act
- All have to be stable for stable attitude
- When one of the elements aren’t stable = Cognitive dissonance

Changing Attitudes

Persuasive communication & effective when:
- Significant other is persuading
- Quality of message - accurate & clear
- Characteristics of those being persuaded

- Attitudes can be affected by social norms and culture
- Or cognitive dissonance

Types of Motivation (2)

Intrinsic and extrinsic

Arousal

1. Drive theory
2. Inverted U-theory
3. Catastrophe theory

Anxiety types

Cognitive (mind e.g. worry) & Somatic (body e.g. sweating)

Anxiety Theories

1. Trait anxiety - enduring/genetic on all situations
2. State anxiety - anxious in certain situation
3. Competitive trait anxiety - perception of competition as threatening

Aggression Theories

1. Instinct theory - Genetic/innate aggression
2. Social learning - Learnt off significant others
3. Frustration-aggressive - blockage of goal leads to frustration and the aggression (can lead to success and catharsis (release of frustration))
4. Aggressive cue - Aggression in response to certain stimulus

Social facilitation vs inhibition

Performer has greater ability with audience vs opposite
Affected by:
- Level of ability
- Personality
- Type of skill

Group forming

1. Forming - little agreement and guidance needed. Ppl. getting to know each other
2. Storming - members jostle for position in team
3. Norming - Roles are clear, and sense of commitment and unity
4. Performing - Common goal/aim proposed by leader

Ringlemann’s Effect

Increased group size = reduced quality of average performers, performance

Social loafing

The tendency for people in a group to exert less effort when combining their efforts toward attaining a common goal than when individually accountable

Team performance/productivity

Actual productivity = Potential - faulty process’s

Goal types

1. Outcome - end result target
2. Performance - individual’s performance e.g. new pb
3. Process - technique related/skill goals

SMART goal

Specific
Measurable
Achievable
Recorded
Time specific

Goal time scales

Micro
Meso
Macro

Wiener’s attribution model

Affected by self serving bias - ppl. often attribute success internally and failure externally

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Learned Helplessness

Belief that failure is inevitable & feeling of hopelessness
Can be specific or global

Mastery Orientation

Individual is motivated to become an “expert” and often attribute failure internally

Self-efficacy

Self-confidence in specific conditions

Bandura’s theory of self-efficacy

Depends on:
1. Performance accomplishments
2. Vicarious experiences
3. Verbal persaution
4. Emotional arousal

Effective leadership

1. Good communication
2. High motivation
3. Enthusiasm
4. Clear/common goal
5. Empathy
6. Being good at the sport
7. Charisma

Emergent vs Prescribed leaders

- Original team member and is already respected
- Leader that has been brought into the group

Leadership styles

1. Autocratic
2. Democratic
3. Laissez-faire

Leadership Theories

1. Trait
2. Social
3. Interactionist

Cognitive stress management

Positive thinking
2. Negative thought stopping
3. Rational thinking
4. Mental rehearsal
5. Imagery
6. Mindfulness
7. Goal setting
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Somatic stress management

1. Relaxation
2. Progressive muscular relaxation
3. Biofeedback
4. Centring
5. Breathing control

Feedback Type

- Positive
- Negative
- Knowledge of performance
- Knowledge or results

Feedback vs Reinforcement

- Feedback: Quality of skill/performance
- Reinforcement: Praise of enforcement with the use of emotions e.g. praise/removal of irritant

Personality

Psychological characteristics that make each person unique.

Interactionist theory

Behaviour occurs from the influence of inherited traits and learned experiences

Social learning theory and a -VE

All behaviour is learnt from environmental experiences.
-VE doesnt consdider influence of genetics

Conditions that support social learning

-Demonstator is a role model
-Role model is powerful and authorative
-Observer wants to conform to the norms and values of a new culture
-Both the same gender

Trait theory and a -VE

People are born with established personality characteristics
-VE doesnt consider the influence of environment

Narrow band theory

Girdano, Type A and Type B

Type A

Competative, work fast, strong desire to succeed, like control, prone to suffer from stress

Type B

Non-comp, work slow, low desire, doesnt like control, not prone to stress

Hollander

Psychological core, typical responses, role-related behaviour

Extrovert

Personality Type (Eysenck)
- outgoing, sociable
- aroused more slowly than introverts (low sensitive reticular activation system (RAS))

Introvert

Personality Type (Eysenck)
- tend to be shy and reserved
- prefer isolation from others
- become aroused more quickly than extroverts (high sensitive RAS)

Neurotic

Personality Type (Eysenck)
- extreme and unpredictable emotions (mood swings)
- experience high degrees of stress and recover slowly

Stable

Personality Type (Eysenck)
- predictable emotions
- tend not to experience intense stress and recover from stress quickly

Personality profiling

Identifies traits which can then be used by psychologists to recommend participation in sport

Critical evalutation of personality profiling

Research surroudning the relationship between personality and sporting behaviour in inconclusive

Limitations of personality profiling

Stereotype. Subjective. No evidence. No proven links. Modify behaviour for test. Lacks validity and reliability.

Origins of attitudes

Mainly formed through experiences

Socialisation

Involved in formation of attitudes. Interaction with others that may modify behaviour

Triadic model of attitude

Cognitive, attitude, behavioural

Congitive component

Beliefs and knowledge about the attitude object

Affective component

Feelings towards the attitude object

Behavioural component

Behaviour towards attitude object

Dissonance

An emotional confllict which can change an attitude

Critical evaluation of attitudes

Poor predictors of behaviour. Positive attitudes don’t mean commitment. Specific attitudes are better predictors of behaviour.

Aggression

Aim to harm the opponent, illegal

Channelled aggression

Aggresive play with in the rules and is directed at successfull completion of a skill rather than injuring another player

Causes of aggression

Offical making a poor decision
Belief opposition is cheating
Losing a game
Pressure
Hostile situation
Copying behaviour of others
Frustration
Previous ill-feeling
Influence of outside world

Instinct theory

Aggressive behaviour is inherited trait rather than a learned behaviour

-VE instinct theory

No evidence for aggression being biological. Suggests spontinuity when aggression is often planned. Studies suggest aggression can be learned

Frustration aggression hypothesis

Aggression results from a situation causing frustration

Catharsis

Release and therefore reduction in aggression and frustration

-VE frustration aggression

Not everyones frustration leads to aggression, individuals that do ^ don’t ALWAYS do it

Cue arousal theory

Developed in response to FAH
Suggests frustration is only a predisposition, environmental stimuli needed for actual aggression

Social learning

Aggression is learned and nurtured through environmental factors rather than inheritance

Cognitive aggression elimination

Mental or psychological processes eg Positive self talk/counting

Somatic aggression elimination

Physiological process e.g. biofeedback

Aggression on HABL

Inc arousal so dec concentration and impair perfomance, inc risk of injury, less motivated to cont.

Achievement motivation

Degree to which an individual is motivated to achieve success

High nach/Low naf

Approach challenges, take risks, persistance, success internal, failure external, failure is a route to success, like feeback and evaluation, mastery orientated

Approach behaviour

Describes behaviour that accepts challenges

Low nach/High naf

Avoid challenges, avoid risks, success external, failure internal, don’t like feedback or evaluation

Avoidance behaviour

Describes behaviour that rejects challenges

Attribution theory

Identifies reasons given to account for success and failure in sport

internal-stable

ability

internal-unstable

effort

external-stable

task difficulty

external-unstable

luck

Mastery orientation

The strong motive to succeed found in a high achiever
This person expects success but persists when experiences failure

Encouraging mastery orientation

In conf to inc self-belief, exercise prog, making particiaption a positive experience, verbal persuasion

Learned helplessness

The belief that failure is inevitable and that the individual has no control over the factors that cause failure

Attribution bias

The performer’s belief that reasons for success and failure never change

Attribution retraining

Changing the perfomers opinion of the causes of failure

Methods of retraining

Attributing failure to external, increase self-esteem and encourage mastery orientation, which facilitates a HABL, encourage apporach behaviour

Steiners model

Actual productivity = potential productivity - losses due to faulty processes

Actual productivity

Actual performance at a given time

Potential productivity

Max capability of a group when cohesion is strong

Losses due to faulty processes

Things that go wrong and impair cohesion preventing the team from reaching their full potential

Group dynamics

The social processes operating within the group between individual members

Group cohesion

The tendancy of a group to stick together and main united in the persuit of its goals and objectives

Task cohesion

Relates to the way team members work with each other to complete a task succesfully

Social cohesion

Involves formation of personal relationships within the the group and that provide the individual with support and friendship

Social loafing

Decline in motivation that occurs in a group sitaution, causing players to reduce their effort levels: reduces cohesion

Reasons for social loafing

Team mates aren’t trying, feel their performance isn’t valued, task is too difficult, lack of confidence, negative experience

Ringlemann effect

Losses in coordination that occur as a result of a breakdown in teamwork

Exercise adherence

Adopting an exercise regime and persistinf with the activities

Goals setting benefits

Inc motivation, confidence, positive perception, reduced anxiety

Goal setting affects performance by

Directing attention, inc effort, persistence, motivation

Self-efficacy

Specific self-confidence arising from the perception of a person about their standard of ability in particular situatuibs and activites

SMARTER

Specific
Measurable
Accepted
Realistic
Time related
Exciting
Recorded

Performance goals

Based on judgement

Process goals

Based on improving technique

Product goals

Based on outcomes

Social faciltAtion

Prescence of others increase arousal and have a beneficial effect on performance

Social inhibition

Presence of others increase arousal and have a negative effect on performance

Managing social inhibition

Selective attention
Mental rehersal
Imagery
Positive self-talk
Confidence

Evaluation apprehension cause

Audience is present and the performer perceive the audience to be judging their performance

Evaluation apprehension effects

Impaired performance, inc anxiety, reduce confidence, diff to concentrate

Autocratic

Leader has authority and makes all of the decisions
Effective with novices and large groups

Democratic

Group is involved in decision making
Effective to elite and small groups and females

Laissez-faire

Passive and allows group memebers to get on with the task by themselves

Prescribed leader

Appointed by someone else such as a manager choosing a captain

Emergent leader

Emerge from the group such as a player becoming a player-manager
More effective as already have a level of respect

Trait theory leadership

Leaders are born with specific traits that predispose them to be good leaders, innate

Social learning theory leadership

Suggests all behaviour is learned through environmental influences

Interactionist theory leadership

Combo of social and trait
More realistic explanation

Chellandurais model

Leadership is influenced by situational factors, leadership characteristics and member characteristics

Attentional control

Ability of a performer to focus awareness onto important environmental cues during an activity

Cue utilisation

The process that facilitates maximum attentional control, allowing efficient performance to take place

Self-confidence

Refers to a consistent (and stable) degree of confidence that a person displays across a wide range of situations

Self-efficacy

Situation specific confidence

Bandura self efficacy

Performance accomplishments
Vicarious experiences
Verbal persuasion
Control of arousal

Vealey types of confidence

Trait - a genreal disposition to be confident in most sport specific situations
State- confidence in specific sporting situations

IZOF

Zones in which individuals perform best,
Makes athletes confident, relaxed and motivated. Described as peak flow

Anxiety

Negative emotional state that causes feelings of worry and nervousness

Cognitive anxiety management

Positive self talk
Imagery
Thought stopping

Somatic anxiety management

PMR
Biofeedback

Zone of Optimal Functioning

the unique level of arousal which allows performer to have maximum concentration and effort

Characteristics of the zone of optimal functioning

Movement being effortless
Select correct cues and make quick and accurate decisions
Does not always occur at midpoint of arousal
Occurs over a bandwidth of arousal

Attentional Narrowing

Not using perceptual field, important cues are missed
Focus on the goal and not a team mate in a better position

Attentional wastage

Concentration misdirected to irrelevant cues
Thinking about the crowd and referee

Peak Flow

Timing of movements and actions are perfect, ultimate intrinsic experience
Requires positive attitude, relaxed, confidence, etc.
More likely to occur correct somatic arousal and low cognitive arousal

Arousal

Energised state of readiness/activation

Types of Arousal

Cognitive- psychological changes
Somatic- physiological changes

Drive theory

Linear relationship between arousal and quality of performance
Adapted to arousal and dominant response
Does not explain autonomous failings
No account of different types of arousal

Inverted U theory

As arousal increases so does performance, but only up to an optimal level after which performance deteriorates
Need to consider, nature of the task, skill level and personality

Catastrophe theory

Increase in arousal will have positive effect on performance, over arousal causes a rapid deterioration
Can be recovered - if arousal drops slightly

Observation method

Record Individual behaviour- fidgeting, changes in speech, acts of aggression
Aspects of performance- accuracy, decision-making, speed of reaction
Repeated patterns noted
Requires several observers, know the performer.

Biofeedback

monitoring physiological responses to performance
Data collected- HR, sweating, respiratory rate, muscle response
Provides accurate data
Difficult to record during competition

Self-Report Questionnaires

Ease of administration, large numbers and cheap
Drawbacks- misinterpretation, lack of honesty, poor questions, answer options

Stress

the non-specific response of the body to any demand made on it

Eustress

Positive stress
Seek limits/adrenaline rush
Can lead to intrinsic satisfaction and boost confidence

Anxiety

Negative stress
- can lead to decreased performance

Types of Anxiety

Cognitive
Somatic
State (A-State)
Trait (A-Trait)
Competitive trait
Competitive State

Cognitive Anxiety

Psychological effects of stress
Apprehension, fear of failure, attentional narrowing

Somatic Anxiety

Physiological effects of stress
Sweating, increased HR, feeling of nausea

Trait Anxiety - (A-trait- )

General disposition of the individual to stress
(stable/inherited)

State Anxiety - (A-state)

Anxiety which occurs when performer is in a specific situation
Linked to mood. Both cognitive and somatic anxiety may be experienced

Competitive trait anxiety-

Perceive competitive situations as threatening
High trait more likely to suffer high state
May not be as anxious in training

Attitude

Positive or negative
Stable and enduring
Focused to a particular object/action
Evaluative, subjective or beliefs

Attitude object

focus of an individual’s attitude

Triadic model

Cognitive, Affective, Behavioural
Cognitive- reflects beliefs, knowledge, thoughts
Affective- emotional response of feelings
Behavioural- intended/actual behaviour

Persuasive communication

Status of messenger
Quality of the message
Strength of attitude
Situation/context of message delivery

Cognitive dissonance

Creating conflict with attitude
Cognitive- new information
Affective- different experience - positive
Behavioural- simplify skill allow success

Cognitive Methods of Stress Management

Imagery
Self Talk
Thought Stopping
Attentional Control

Imagery

create mental pictures
Calm atmosphere
Recreate kinaesthetic feeling of successful movement
Can be internal or external

Thought stopping

recognise when they are starting to worry
Use of action/key word to redirect to positive thoughts

Attentional control

ability to alter their perceptual field
Vary the amount and type of information the enters the body

Self-Talk

- developing positive thoughts about their performances
Aim to eradicate any negative thoughts

Somatic Stress Management techniques

Biofeedback
Progressive Muscle Relaxation
Reelaxation

Biofeedback- stress management

- measurement of physiological responses
Skin response, skin temperature, muscle tension

Relaxation - stress management

- muscles become less rigid-
Uses cognitive or somatic methods

Progressive Muscle Relaxation

- alternating sensations of tension and relaxation
Specific muscle groups targeted in succession
Gradually reduces tension throughout the body

Goal Setting

SMARTER
Outcome goal- judges performance
Performance goal- judged against own standards.
Process orientated goals- development of tactics or technique

ACHIEVEMENT MOTIVATION

Behaviour is based upon environment and desire to succeed
Achievement motivation = desire to succeed - fear of failure

Need to Achieve (n.Ach)

Sense of pride, perseverance, welcome feedback
Confidence, attribute performance internally, prepared to take risks
Failure is a learning experience

Need to avoid failure (n.AF)

Avoid shame, worry about failure, avoid 50-50
Choose very easy or very hard tasks
Attribute performance externally, give up easily

Avoidance behaviour-

motivated to protect self-esteem and will avoid evaluation

Approach behaviour

- motivated to attempts challenging situation

Achievement Goal Theory

- achievement motivation will differ depending on reasons for participation and goals set.
Outcome Goal- judge performance against others
Task-orientated goal- performance judged against own standards

Developing Approach behaviour

Positive childhood experiences (pride, satisfaction, success)
Gradual increase of task difficulty
Improve self-efficacy / avoid learned helplessness
Use attributions correctly
encouragement

Personality- Trait theory

an innate, enduring characteristic, stable
Allow us to predict behaviour patterns

Hollander’s Interactionist model

Psychological core- the real you
Beliefs, values, attitudes
Typical responses- usual response to a situation
Often learned
Role-related behaviours- our behaviour based upon specific circumstanced
May act out of character

EPI

- Eysenk’s personality inventory
Extrovert need more arousal, Introvert-easily over aroused
Stable- calm, even tempered, reliable, controlled, Neurotic- moody, anxious, and restless.
Too simplistic, do not allow for situational factors, not accurate in terms of sport preference or success

Interactionist theories of Personality

- mixture of inherited traits and situation
B=f (PE)
Behaviour may change due to crowd, significant other, rivalry, importance of outcome

POMS

- profile of mood sates
Iceberg profile (vigour above) all the rest below average
Sceptical approach- questions link between personality and performance
Credulous approach- believes the link between personality and performance

SELF-EFFICACY

Degree of confidence when placed in a specific situation
Applies to team or individual
May generally have confident personality but may lack confidence in a specific situation
Self-efficacy may affect choice of activity, amount of effort and persistence
Self-efficacy is affected by past experiences,

factors affecting Self Efficacy

past experiences,
vicarious experience,
verbal persuasion
arousal

Methods to improve Self Efficacy

early success,
role models,
appropriate goal setting, performance goals,

positive feedback
Stress management, mental rehearsal,
correct use of attributions

AGGRESSION

BEHAVIOUR INTENDED TO HARM BY PHYSICAL OR VERBAL
It must happen, It must harm, It must be intentional

Types of Agression

Assertion-
Within the rules, complete task but side effect of inflicting harm
Channelled

Assertion

No intent, goal-directed, within rules, legitimate force
Caused by- nature of sport, rivalry, importance of event
High arousal, frustration, officiating, rewards

Instinct theory of aggression

nature approach
Innate, inherited and inevitable
Sport as a cathartic release
Displacement may occur
Evaluation- aggression is learned, may increase during sport, not always aggressive outside of sport

Frustration-aggression hypothesis-

Interactionist
Frustration always leads to aggression.
Goal is blocked-> frustration->aggressive act (catharsis if successful—> if punished leads to more frustration
Evaluation- not all frustration leads to aggression, not all aggression is caused by frustration

Cue Arousal theory

- frustration causes arousal to increase
But aggression only occur if cues are present e.g. signal, action or situation that acts as trigger

Social Learning Theory- aggression

- nurture approach
Vicarious experience- observe copy reinforced
Aggression reduced by- punishment, peer pressure, substitution, high quality officials, fair play awards

How to reduce the likelihood of aggression

Increase fitness,
performance goals,
lower arousal,
educate difference between aggression and assertion

Impact of Home Field advantage

More home supporters
Familiarity of surroundings
Due to audience support
As importance increases so too does expectations which may hinder performance

Proximity effect (how close the crowd are)
Home players may be more self-conscious

Social Facilitation

The effect that the presence of others has on performance

Social Inhibition

The negative effect on performance caused by the presence of others

Social Facilitation Theory (Zajonc)

linked to drive theory
Audience- those watching
Co-actors- performing same task but not in direct competition
Competitive co-actors- those in direct competition
Social reinforcers- direct influence e.g. coach
Experienced leads to social facilitation, inexperienced leads to social inhibition

Evaluation apprehension-

Anxiety caused when performer feels they are being judged
Leads to a deterioration in performance

Factors affecting social facilitation

Trait anxiety
Personality
Previous experience
Status of observers
Nature of audience (noise level)
Size of audience
Social inhibition avoided by-
Mental rehearsal
Training in front of others
Increase self-efficacy
Reduce importance of event
Stress management/relaxation

A group

Two or more people interacting,
Common/shared goal
Collective identity
Structured forms of communication

Stages of Group Formation

Forming-
Development of relationships within the group
Storming-
Some form of conflict as attempt to establish position/ roles/ status
Norming-
Rules /roles set structure established
Performing-
Players work together towards common goal. Roles are accepted
Cycle may be repeated when members arrive / leave the group

Attribution Theory _ definition

The perceived reasons for success or failure

Weiner’s Attribution theory

Locus of causality- the cause of the final outcome
Internal- ability + effort ,
External- Task difficulty + luck
Locus of stability- factors that may influence the final results
Stable - ability +task difficulty,
unstable - effort + luck
Success attributed internally = increased pride/motivation
Failure attributed internally = increased shame and loss of motivation
Controllability- affects moral judgement and reaction to other people
Praise if they tried hard despite result. More critical if failure due to laziness
Failure should be attributed externally

Self-serving bias

Correct use of attributions = self-esteem, motivation and avoids learned helplessness
Feelings experienced when they believe failure is inevitable even if success is possible

Strategies to avoid Learned Helplessness

Improve self-efficacy,
mental rehearsal,
performance goals,
use correct attributions / attribution retraining,
Attribution retraining- changing an individual’s perception of failure- I can improve if

Learned Helplessness

failure is inevitable in specific situations or against certain opponents

Cohesion

The extent to which a group works together

Task Cohesion-

Interaction of group members to achieve common goal

Social cohesion-

Interaction of group members and how they relate to each other
Cohesion affected by (antecedents)

Factors that affect cohesion

Environmental/situational factors
Size of group/time
Member characteristics-
Ability / motivation / satisfaction
Leadership style
Level of input on decision making
Stability of the group

Strategies to develop cohesion

Practice and training
Explanation of roles/ expectations
Individual and group goals
Individual responsibilities
Avoid social cliques
Identify social loafers

Authoritarian/ Autocratic

Leader dictates group actions- little or no member input
Task orientated, group works hard when present
Effective when - large numbers, quick decisions, limited time, complex or dangerous, clear goals

Democratic

Group involved in decision making but leader has final say.
When left alone group continues on task
Effective when - more experience performers, individual sports, limited facilities available
Younger / female players

Laissez-faire

Leaves group to make all decisions, adopts a passive role
Left alone group does very little work

Prescribed leader

- appointed by higher authority
E.g. captain appointed by manager

Emergent leader-

leader selected by team
Captain voted for by members

Qualities of a good leader

good communication skills
Interpersonal skills
Empathy
Approachable
Perceptual skills
Highly knowledgeable
Effective decision maker
Inspirational
Confident
Organised

Great man theory-

Trait theory applying to men only
Intelligent, self-confident, good looking

Social learning theory of leadership

nurture
Behavioural patterns are learnt through observing others and copying their leadership style
Makes no allowance of traits and natural personality

Fiedler’s contingency model

Effectiveness of leader is dependent upon personality traits and the situation
Task orientated - concentrates on efficiency, completing task as quickly as possible
Adopts autocratic approach
Desirable when time is limited, dangerous, large group
Relationship centred- concentrates on developing interpersonal relationships
adopts democratic
Effectiveness of each style depends on favourableness-
Relationship between leader and group
Leaders position of power / authority
Task structure
Task orientated in favourable / unfavourable conditions
Person orientated in moderately favourable
Favourable - good leader/group relationship, highly respected, group is highly able, highly motivated, good support , task is simple

Chelladurai’s multi-dimensional model

Before selecting style 3 characteristics must be considered
Situational- task difficulty, nature of group
Leader - personality, experience, skill level
Member - ability, motivation
Next stage considers leader behaviour
Required- depends upon situation and task
Actual- leader’s action
Preferred - what the group want

Pygmalion in the Classroom

Method: Told teachers certain “late bloomer” students were expected to achieve big academic gains
• In actuality, selected at random
Results: False information led teachers to hold higher expectations for targeted children and they did better than others
Conclusion: Expectations served as self-fulfilling prophecy by initiating a series of events that ultimately cause fulfillment of expectations

Self-fulfilling Prophecy

The coaches’ expectations or judgments of their athletes influence the athlete’s performance and behavior

Expectation-Performance Model

• Step 1: Coach develops an expectation for each athlete that predicts the level of performance/type of behavior that athlete will exhibit over the course of the year
• Step 2: These expectations influence the coach’s treatment of individual athletes
• Step 3: Coach’s treatment affects the athlete’s performance & rate of learning
• Step 4: Athlete’s behavior & performance conform to the coach’s expectations thus reinforcing coach’s expectations

Integrated Theory of Intrinsic and Extrinsic Motivation in Sport

Social > psychological > motivation > consequences
Factors – mediators

Social Factors

• Success/Failure
• Competition/Cooperation
• Coaches Behavior

Psychological Mediators

• Perceptions of competence
• Perceptions of autonomy (self-determination)
• Relatedness

Consequences of Motivation

• Positive affect
• Positive behavior outcomes
• Improved cognition

Cognitive EvaluationTheory

-Sub-theory to the integrated theory of intrinsic and extrinsic motivation

-Extrinsic rewards can affect intrinsic motivation (IM) in one of two ways
*Controlling aspect
(undermine IM)
*Informational aspect (enhance IM)

Controlling Aspect of Cognitive Evaluation Theory

• Athlete perceives that reason for participation is to earn reward
• Participation no longer due to love of the activity, but to promise of external reward
• Self-determination or autonomy is lost because athlete feels like “pawn” who is acted upon

Informational Aspect of Extrinsic Motivation

External rewards do not always result in loss of intrinsic motivation

Sport Applications: 3 Expectancy-Related Issues

1. Maturation, maturational rates, and the sport expectancy process
2. Sport stereotypes and the expectancy process
3. Coaches’ personal characteristics, their leadership styles, and the sport expectancy process

Maturation, Maturational Rates and the Sport Expectancy Process

• Late maturing male athletes can be falsely diagnosed by coaches as low-expectancy athletes
• The opposite is true of early maturing female athletes
o Expectancy-biased coaching means the athlete receives less instruction, playing time, or feedback
o Athletes might be phased out or cut based on coach’s expectancy-biased behavior
• Developmental vulnerability

Sport Stereotypes and the Expectancy Process - Youths

Ethnicity:
• May lead to positive or negative perceptions based on the individuals physical and mental capabilities
• When Pygmalion-prone coaches racially stereotype, it inhibits the proves of individual athletes or groups of athletes
Gender

• Stereotypes are based on perceptions that males and females differ in selected physical and/or psychological traits relevant to performance outcomes in sport
• Girls more likely to be treated as low-expectancy athletes

Sport Stereotypes and the Expectancy Process - College

-“Dumb-jock”
• Impacts athletes differently based on race, ethnicity, gender and sport type
• Research shows negative stereotypes can undermine academic, motor and sport performance
-College athletes who perceived that their coach regarded their academic ability positively were less susceptible to stereotyped threat perceptions

Coaches’ Personal Characteristics, Leadership Styles and Sport Expectancy

-What characteristics distinguish coaches who act in expectancy-biased ways from coaches who do not?
• Gender-biased or homophobic
• Entity perspective vs. Incremental perspective
-Leadership style may predict - perhaps prone if:
• Controlling interpersonal style
• Threaten athletes with punishment, use guilt-inducing methods of behavioral control, and allow athletes little or no involvement in any decision-making process

Behavioral Recommendations for Coach

1. Determine what source of information they use to form pre and early season expectations
2. Realize initial assessments of an athlete’s competence may be inaccurate and should be revised continuously
3. Keep a running count of the amount of time athlete spends in non-skill related activities
4. Design instructional activities or drills that provide all athletes with an opportunity to improve their skills
5. Respond to errors with corrective criticism
6. Emphasize skill improvement as a means of evaluating and reinforcing individual athletes
7. Interact frequently with all athletes on team to solicit information concerning perceptions
8. Create a mastery-oriented climate in team practices

The Information Processing Model

Memory Storage > Mental Operations > Memory Retrieval

Memory Systems

• Sensory Information Store
• Short-Term Memory (STM)
• Long-Term Memory (LTM)

Measuring Information

• Information conveyed measured in “bits”
• Number of bits is equal to number of questions that would have to be asked
• A baseball pitcher with total control over four pitches presents a greater information problem (more bits) than pitcher with total control over two pitches

Selective Attention

• The capability of humans to selectively attend to one stimulus to the exclusion of others
• For highly trained and skilled athletes, the process of selective attention is very efficient

Limited Information Processing Capacity

• Finite amount of “space” available for processing
• Tasks that require large amounts of processing space interfere with each other
• With practice, a task may be performed with little/no processing of space, allowing for simultaneous execution of a second task

Attentional Narrowing

• As arousal increases, attentional focus narrows
• Cue utilization theory
-Task relevant cues
-Task irrelevant cues
• Distractibility
• Attentional flexibility

When Athletes Are in the Zone

• Physical and mental preparation are necessary for a great performance
• Describing a peak performance as simply being in the “zone”, as if there is a separation of the mind from the body diminishes the immense preparation that goes into training to become an elite athlete

Measuring Attentional Focus

• Behavioral Assessment
• Physiological indicators
• Written Self-Report Instruments

Test of Attentional and Interpersonal Style (TAIS)

- Width of Attention
•Broad <———> Narrow
-Direction of Attention
•Internal <——-> External

Attentional Control Training

• Learn to gate out irrelevant information
• Learn to control arousal and emotions

Thought Stopping and Centering

• Displace negative thought with a positive thought
• Center attention internally while making minor adjustments in arousal
• Focus attention on a task-relevant cue
• Execute the sport skill

Goal Setting in Sport

• Goals help people go to another level that they didn’t know was possible
• Goal is only a goal if you own it but not everyone is comfortable about speaking up so they don’t own it

Basic Types of Goals

• Outcome goals
• Performance goals
• Process goals

Effectiveness of Goal Types

• Used in isolation, outcome goals are the least effective, but when used in conjunction with performance and process goals, they are helpful
• Research supports a multiple goal setting strategy
• Athletes must understand differences and use all 3 effectively

Why Goal Setting is Effective

• Directed Attention
• Effort Mobilization
• Persistence
• Development of New Learning Strategies

Principles of Effective Goal Setting

• Make goals specific, measurable and observable
• Clearly identify time constraints
• Use moderately difficult goals
• Write goals down and monitor them
• Use mix of process, performance and outcome goals
• Use short and long-range goals
• Set team and individual performance goals
• Make sure goals are internalized by athlete
• Consider personality and individual differences in goal setting

Team Approach to Goal Setting

• The Planning Phase
• The Meeting Phase
• The Evaluation Phase

Goal Setting Pitfalls

• Poorly written goal statements
• Failure to devise a goal-attainment strategy
• Failure to follow goal-attainment strategy
• Failure to monitor performance process
• Discouragement (goals too difficult, too many, use of outcome goals)

Peak Performance

• Beyond ordinary levels of play
• It all comes together - physically and mentally
• An athlete’s personal best
• It is a consequence of both physical and mental factors
• Varies from athlete to athlete
• Most likely to occur when skills level matches demands

How the Mind Works with the Body to Produce Performance

-40-90% of success in sports is due to mental factors
• skill level, mental aspects
-Can train the ideal body/mind state that underlies peak performance
• Doesn’t always work

Psychological Characteristics Associated with Peak Performance

• Loss of fear
• Total immersion in the activity
• Narrow focus of attention on the present
• Feeling in complete control
• Time/space disorientation (usually slowed down)
• Feeling performance was automatic and effortless
• Control over emotion, thoughts and arousal
• Highly self-confident
• Physically and mentally relaxed
• Highly energized
• Team peak performance comes after practice period of being externally (and internally) reinforced

Flow

• The state in which people are so involved in an activity that nothing else seems to matter”
(Basketball - call a timeout when opponent is on a roll to break flow)
• Flow may be the psychological process underlying peak performance
• Epitome of intrinsic motivation
• Expresses a sense of seemingly effortless and intrinsic joyful moments
• Experienced when you are engaged in an interesting activity for its own sake and no other external purpose

Dimensions of Flow

1. Situation challenge matches skills
2. Awareness and action merge
3. Clear goals
4. Feedback
5. Total concentration on task at hand
6. Complete control without actively attempting to be in control
7. No self-conscious or self-evolution
8. Time seems to speed up or slow down
9. Enjoyable - participation its own reward

What Facilitates Flow

• Appropriate focus
• Mental and physical prep
• Arousal
• Positive thoughts
• Positive emotions
• Confidence
• Positive feedback
• Good unity and team play
• Optimal environmental and situational conditions
• Positive competitive affect (during contest)

What Disrupts Flow

• Inappropriate focus
• Unmotivated
• Disconnected
• Negative thoughts
• Negative emotions
• Unconfident
• Negative feedback
• Poor team play

Effects of Flow

“Athletes who believe in their capabilities are probably more likely to experience a balance between challenge and skills, even when the challenge of a specific sport competition is relatively high”

Mindfulness

• Nonjudgmental focus of one’s attention on the experience that occurs in the present moment
• This approach encourages the acceptance of, and participation with, unwanted thoughts
• Linked to flow
• Associated with task relevant attention, loss of self-confidence, and a sense of control and peak performance
• In the moment

Individualized Zone of Optimal Functioning (IZOF)

-Attempting to identify emotional patterns (positive and negative) associated with individual athlete’s successful performances
-4 groups of emotional states
• Performance-enhancing positive emotions
• Performance-enhancing negative emotions
• Performance-impairing positive emotions
• Performance-impairing negative emotions
-Athletes assess and identify emotions related to successful and unsuccessful performances
-Different athletes may include different emotions
-There are a range of optimal and dysfunctional emotions

Successful Psychological Skills in Successful Elite Athletes

• High self-confidence
• Total commitment
• Strong performance focus
• Ability to cope well with distractions
• Good attention-focusing and refocusing skills
• Ability to rebound from mistakes
• Positive attitude
• High personal standards
• Well-developed pre-competition and competitive plans
• Ability to control emotions
• A view of anxiety as beneficial
• Use of performance goals
• Use of imagery

Mental Toughness

-An unshakable belief that one can achieve his/her goals regardless of obstacles or setbacks
• Belief + focus
-FOCUS: Prioritize long-term sport goal over all other life goals
-UNFOCUS: Ability to switch off this focus to maintain balance in their lives

Characteristics of Mental Toughness

• An “unshakable belief” (knowing you can do anything you set your mind to)
• Stay focused
• Regulate performance (increase effort)
• Cope well with pressure
• Are aware of, and control, their thoughts and feelings
• Control the environment (are not affected by things out of their control)

Mental Toughness Pyramid

See notes

How Others Facilitate Peak Performance

-Others = teammates, coaches, family members, and administrators
• High team cohesion
• Positive/strong team leader
• Committed coaches
• Clear coach performance plans
• Emotional and social support from friends/family
• Team management

How Others Hinder Peak Performance

• Lacking trust/confidence in teammates
• Poor coach-athlete communication
• Negative attitude toward coach
• Coach can’t deal with crisis
• Unrealistic expectations from coach
• Over coaching/excessive interactions
• Coach’s inability to “keep it simple”

Limitation of Research Findings

• Descriptive and correlational design
• Connections are certainly relational, but can’t assure cause & effect relation

Team Cohesion

• A dynamic process that is reflected in the tendency for a group to stick together and remain united in the pursuit of goals and objectives.
• Relationships over season on and off team
(Military is the best example of team cohesion -Men work best in groups, women work best in small groups)

Types of Team Cohesion

Task Cohesion
• Degree to which members of a team work together to achieve a specific and identifiable goal
Social Cohesion
• Degree to which members of a team like each other and enjoy personal satisfaction from being members of the team

Two Basic Approaches to Measuring Cohesion

• Indirect measurement approach
• Direct measurement approach

Conceptual Model of Team Cohesion

Athlete’s perception of a team
• Group integration
• Individual Attraction
Group Orientation
• Social
• Task

Measurement of Team Cohesion

• Sport Cohesion Questionnaire
• Team Cohesion Questionnaire
• Sport Cohesion Instrument
• Group Environment Questionnaire (see notes)
• Team Psychology Questionnaire

Determinants of Team Cohesion

• Personal factors
• Team Factors
• Leadership Factors
• Environmental Factors
• Time in/out of season
• Personality disorder - person cant handle rejection
• Narcissist - want others to change, not them

Consequences of Team Cohesion

• Group Outcomes
• Individual Outcomes
• Athletic Performance
• Direction of Causality
• Improving Group Self-Efficacy
• Predicting Future Participation
• Homogeneity of Team Cohesion
• Moderator of Disruptive Effects
• Psychological Momentum

Direction of Causality for Performance/Cohesion

Bidirectional

team cohesion —> team performance <—

Developing Team Cohesion

• Team cohesion as a process
• Team building
• Specific interventions designed to enhance team cohesion
• Cohesion changes over the course of season and relationships over 4 years

Classification Scheme for Leadership Theories

• Universal Trait Theories
• Universal Behavior Theories
• Specific Situation Trait Theories
• Specific Situation Behavioral Theories

Universal Trait Theories

• “I think there are people God put on this earth to be natural-born leaders and Gary is one of them”

Universal Behavior Theories

• Leadership behaviors can be learned, while personality traits cannot
• Universal behaviors of successful leaders:
-Consideration
-Initiating structure

Specific Situation Trait Theories

• Fiedler’s Contingency Model is the best example of this type of leadership theory
• Performance effectiveness is believed to be contingent on:
-Situation favorableness
-Personality of the leader

Specific Situation Behavioral Theories

• Path-goal Theory
• Life Cycle Theory
• Functional Model of Leadership
• Chelladurai’s Multidimensional Model
• Smoll & Smith’s Leadership Behavior Model

Chelladurai’s Multidimensional Sport Model of Leadership

-Leadership effectiveness is believed to be a function of congruence between 3 different perspectives of leadership behavior:
• Prescribed Leader Behavior
• Actual Leader Behavior
• Preferred Leader Behavior

Smoll and Smith’s Sport Leadership Model

• central process of the model
coach’s behavior > player’s perception > player’s response

Coach-Athlete Compatability

-Characteristics of compatible relationship:
• Good communication
• Reward behavior present
-Characteristics of incompatible relationship
• Communication is lacking
• Lack of rewarding behavior

Assertiveness Training for Coaches

• Describe the situation to the athlete
• Tell how it affects the team
• Tell what you think should be done

Player Position, Leadership Opportunity, and Stacking

• The coach can develop leadership skills in young athletes by placing them in team positions requiring observability, visibility and task dependence
• Position on an athletic team should be determined on the basis of skill, physical attributes and athlete’s performance

Psychological Predictors of Athletic Injury

• Personality Factors
• History of Stressors
• Coping Resources
• Intervention

Stress and Injury Model

• An athlete’s perceived inability to respond to the demands of a potentially stressful athletic situation results in the stress response
• The stress response in turn gives rise to increased muscle tension, narrowing of the visual field, and attentional distractibility

Personal Factors and Athletic Injury

• Personal factors that might have an effect upon how the athlete responds to a stressful athletic situation include hardiness, locus of control, sense of coherence, competitive trait anxiety and intrinsic motivation

History of Stressors and Athletic Injury

• Life stress and daily habits
• Previous injury

Coping Resource and Athletic Injury

• Coping behaviors
• Social support
• Stress management
• Attentional strategies
• Medication

Integrated Model of Psychology Response to Injury

-Moderators to the response to injury
-Model background
• Personal factors
• Situational factors
-Psychology response to injury
• Cognitive Appraisal
• Emotional repsonse
-Rehabilitation and behavioral response to injury
• Adherence to injury rehabilitation
• Coping, social support and interventions
• Pain management

Factors Involved in Cognitive Appraisal

• Need to adjust performance goals
• Estimate of recovery time
• Evaluation of self-worth and confidence
• Appraisal of attributions
• Sense of loss
• Appraisal of coping skills

Factors Associated with Emotional Response

• Fear of the unknown
• Feelings of tension, anger and depression
• Frustration and boredom
• Positive/negative attitude
• Grief
• Emotional coping skills

Other Considerations of Athletic Injury

• Providing sport injury rehabilitation personnel with psychological expertise
• The impact of athletic injury upon retirement satisfaction
• Benefits associated with sustaining and recovering from an athletic injury

Some Banned Substances

-Anabolic-androgenic steroids
• Synthetic derivatives of testosterone that have both an anabolic effect as well as an androgenic effect
• Also called exogenous testosterone (externally derived) to be different from naturally occurring endogenous testosterone
(Women have testosterone but men have 40% more)
-Stimulants
-Depressants
-Other banned drugs
• Diuretics
• Hallucinogens
• Beta-Adrenergic Blockers

Androstenedione

• Food supplement that acts as a direct precursor hormone to endogenous testosterone

Biological Effects of Anabolic Steroid Use

• Increased body weight and mass
• Altered body composition
• Increased muscle size and strength
• Increased blood volume
• Increased number of red blood cells

Psychological Effects of Anabolic Steroid Use

• While extremely high levels of anabolic steroid use is linked to aggressive behavior, the cause-and-effect link between moderate use and deviant psychological behavior has not been established

Use of Stimulants by Athletes

• Stimulants, such as amphetamines and cocaine increase the rate and work capacity of the central nervous system, respiratory system and the heart
• The illegal and unethical use of stimulants may result in performance enhancement but not without some danger to the athlete

Use of Depressants by Athletes

• Depressants, such as barbiturates, sedative-hypnotics and alcohol, are designed to relieve tension, depression and anxiety
• Highly addictive
• Abuse may lead to serious health consequences due to damage to organs responsible for metabolizing them

Combating Drug Abuse in Sport

-Cognitive techniques
-Behavioral techniques
• Coaches shouldn’t create an atmosphere where athletes feel they need steroids to compete
• Clean team culture is bed way to prevent it

Stress

• Stage of alarm - alarm reaction
• Sympathetic nervous system goes into overdrive - fight or flight
• State of exhaustion then recovery or die
(Based on what environment does to you)
• Most stress is how we interpret our environment - perception of our ability to cope > perceived efficacy and expectancy - what you expect the outcome of the situation to be based on the resources available for you to cope

Differentiating Among Anxiety, Arousal and Stress

• Emotions and mood
• Selye’s concept of stress
• The stress process
situation > appraisal > stress response

Differentiating Between Emotions and Mood

• Lazarus identified 15 different emotions, anxiety is one of them
• Emotions are sudden reactions to a stimulation that could last for seconds, minutes or hours
• Moods are more diffuse and may last for days, weeks or months
• Affect is a general term used to refer to emotions and moods

Selye’s Concept of Stress

-the “nonspecific response of the body to any demand placed upon it
-Good and bad stress:
• Eustress
• Distress
-Stress and physiological arousal correlated

Stress Process

-Three parts of the Stress Process
• Environmental situation
• Appraisal of environmental situation
• The stress response
-Stress response occurs if coping skills perceived to be inadequate

Multidimensional Nature of Anxiety

-People have different set points of level of arousal and anxiety
-The higher the level of anxiety, the better the performance to a point
• Moderate level of anxiety is good
-Different sports require different levels of pre-game arousal and anxiety
-Mood state can effect arousal
• Vigor, concentration, attention
-Cognitive anxiety effects more basic neuromuscular system
-Everyone gets anxious - use it to your advantage
-Trait anxiety (personality disposition)
• Cognitive
• Somatic
-State anxiety (solution specific)
• Cognitive
• Somatic

Antecedents of Pre-Competitive State Anxiety

• Fear of performance failure
• Fear of negative social evaluation
• Fear of physical harm
• Situation ambiguity
• Disruption of well-learned routine

Trait Anxiety Inventories

• Spielberger’s Trait Anxiety Inventory (TAI)
• Sport Competition Anxiety (SCAT)
• Cognitive Somatic Anxiety Questionnaire (CSAQ)
• Sport Anxiety Scale (SAS)

State Anxiety Inventories

• Spielberger’s State Anxiety Inventory (TAI)
• Competitive State Anxiety Inventory (CSAI)
• Competitive State Anxiety Inventory - 2 (CSAI-2)
• Activation-Deactivation Checklist (AD-ACL)

Time-to-Event Nature of Precompetitive Anxiety

• Cognitive Anxiety: Starts high and remains high as event approaches. Fluctuates throughout the contest as probability of success changes
• Somatic Anxiety: Starts low but increases rapidly as even approaches. Dissipates rapidly once event begins

The Relationship Between Arousal and Performance

-Inverted-U Theory
• Cue Utilization Theory
• Signal Detection Theory
• Information Processing Theory
-Drive Theory

Drive Theory and Performance

-Performance = Arousal x Skill level
-Basic Tenets (principles)
• High arousal elicits dominant response
• Early in learning the dominant response is the incorrect response
• Late in learning the dominant response is the correct response

Marten’s Multidimensional Anxiety Theory

• A negative linear relationship exists between cognitive state anxiety and athletic performance
• An inverted-U relationship exists between somatic anxiety and performance

Calculating Intra-individualized or Ipsative Z-Scores

• An athlete’s repeated responses are converted into z-scores using the athlete’s mean and standard deviation
• This process is completed for each athlete under investigation
• Each athlete’s individualized scores as opposed to raw scores are entered into an analysis

Fazey and Hardy’s Catastrophe Theory

• When faced with debilitating anxiety, athletes do not experience small incremental decreases in performance; suffer large catastrophic decrements
• Performance is hypothesized to be affected by the interaction between physiological arousal and cognitive anxiety

Hanin’s Individual Zone of Optimal Functioning Theory

• A narrow bracket or zone is placed around an athlete’s optimal pre-competitive level of anxiety
• The athlete should perform best when his/her pre-start state anxiety is within the predetermined Individual zone of optimal functioning

Jones’ Directionality Theory Relative to State Anxiety

• A raw score on an anxiety inventory only measures the intensity dimension of anxiety (high or low)
• Of greater importance is the direction dimension, or how the athlete perceives anxiety in terms of it facilitating or inhibiting performance

Apter’s Reversal Theory

• Telic-dominant individuals interpret high anxiety/arousal situations as being undesirable and to be avoided.
• Paratelic-dominant individuals interpret high anxiety/arousal situations as being desirable and exciting.
• A psychological reversal can change the way an athlete perceives high stress situations.
• Sport specific - example of war jet fighter vs ground force

iceberg profile

vigor ratings for more successful athletes typically are above the population mean, whereas their ratings for tension, depression, anger, fatigue, and confusion are below the population means

achievement motivation

a person’s efforts to master a task, achieve excellence, persist in the face of failure, and experience pride in accomplishments

attribution theory

how people perceive their successes and failures will result in difference in expectancy of future success/failures, pride/shame and motivation

high achievers

seek out challenges in each situation, enjoy competing against equal ability and embrace the personal challenge

low achievers

avoid challenges and opt for easy tasks or unrealistically hard tasks

motivation

the direction and intensity of one’s effort

3 types of communication

interpersonal, non-verbal, intrapersonal

% of non-verbal communication

50-70%

7 laws of John Wooden

explanation
demonstration
imitation
repetition
repetition
repetition
repetition

3 phases of Psychological Skills Training

education-increase awareness, acquisition- tailor to individuals, practice- keep a log/record

self-regulation consists of

problem identification, execution, generalization

social cognitive theory

presence of others helps performance on well-learned/simple skills and inhibits/lessens performance on unlearned or complex tasks

cognitive state anxiety

moment-to-moment changes in feelings of nervousness, worry and apprehension associated with arousal of the body

relationship between thoughts and performance

thoughts & images > feelings & emotions > energy & physiology > behavior & performance

profile of mood states

anxiety, depression, fatigue, anger, vigor, confusion

social-psychological approach

person-by-situation perspective that considers a variety of both personal and situational factors

sport & exercise psychology

scientific study of the behaviors of people engaged in sport and exercise activities and the application of the knowledge gained

feedback sandwich

positive-specific statement
positive and constructive feedback
encouraging remark

informational feedback

provides information about errors and desired results/performance, such as the specific behaviors that should be performed, levels of proficiency to be achieved, and performer’s current level of proficiency

reinforcement feedback

provides information that increases the likelihood a performer will repeat a desired response

motivational feedback

provides information about progress towards a goal and is most useful when tasks are boring, repetitive, and/or long in duration

achievement goal theory

predicts that one’s goal-orientation (outcome, task, social) interacts with their perceived ability which then helps predict achievement behavior

cognitive-behavioral approach

assumes that behavior is determined by both the environment and cognition, with thoughts and interpretation playing an especially important role

role-related behavior

most superficial and therefore most easily changed part of a personality structure

Coleman Griffith

father of American sport psychology

need achievement theory

interactionalist approach; predicting situations in which there is a 50-50 chance of success; most important contribution of need achievement theory is its task performance and performance predictions

competence motivation theory

motivation is indirectly influenced by such things as feelings of self-worth and perceptions of control; people are motivated to feel worthy or competent

Steiner’s Model

actual productivity of a team does not automatically match its potential productivity

scientifically derived knowledge (Scientific Method)

is a dynamic process of learning about the world through filtering of knowledge that is systematic, controlled, empirical, and critical

3 personality levels

psychological core, typical responses, role-related behavior

objective 1 of sports psychology

to understand the effect of psychological factors on motor performance

objective 2 of sports psychology

to understand the effect of physical activity participation on psychological development and well-being

mental toughness

an athlete’s ability to focus, rebound from failure, cope with pressure, and persist in the face of adversity; remain relatively uneffected by competition or adversity

psychological skills training

the systematic and consistent practice of mental or psychological skills for the purpose of enhancing performance, increasing enjoyment, or achieving greater self-satisfaction

self-regulation

ability to work toward one’s short- and long-term goals by effectively monitoring and managing one’s thoughts, feelings and behaviors

arousal

blend of psychological and physiological activity in a person, and it refers to the intensity of dimensions of motivation at a particular moment

anxiety

negative emotional state characterized by nervousness, worry, and apprehension and associated with activation or arousal of the body

perceived control

an important component of managing state anxiety and is the degree to which one believes one has the resources and ability to meet challenges

drive theory

an individual’s arousal or state anxiety increases, performance increases; predicts that the presence of others helps performance on well-learned/simple skills and inhibits or lessens performance on unlearned or complex skills

inverted u-hypothesis

as arousal increases, so does performance up to an optimal point, at which point further increases in arousal will show a decrease in performance

Herbert Benson

chief researcher of the relaxation response as a cognitive anxiety reduction technique

coping

process of constantly changing cognitive and behavioral efforts to manage specific external and/or internal demands or conflicts appraised as taxing or exceeding one’s resources

excess anxiety can produce

inappropriate muscle tension, inappropriate thoughts and somatic (physiological) reactions

bioinformational theory

images have two propositions called response and stimulus propositions

5 key steps of designing a PST program

discuss approach
assess mental skills
determine methods
design procedure
evaluate program

SMARTS Goals

specific
measurable
action-oriented
realistic
time-bound
self-determined

maladaptive perfectionism

excessive exercise, poor performance, athlete burnout

adaptive perfectionism

better learning and performance more adaptive goals patterns

Tip #1

know your participants: understand WHY people participate in sport-physical activity

Tip #2

focus on what YOU control: take responsibility for that which is in your control and direct influence

Tip #3

take responsibility: know your role…how does your action/inaction influence others’ motivation

Tip #4

modify maladaptive motivation: emphasize task and mastery goals through: your feedback, your instructions, and participant’s goal setting

state anxiety

specific; moment-to-moment changes in anxiety levels: cognitive state anxiety and somatic

trait anxiety

typical; acquired behavioral tendency or disposition that influences behavior

catastrophe theory

physiological arousal is related to performance in an inverted-U , but only when athlete has low cognitive state anxiety; if cognitive anxiety is too high, then at some point will reach a threshold and experience a rapid decline- a catastrophe!

reversal theory

how arousal affects performance depends on an individual’s interpretation of his or her arousal level; performers can shift their interpretations of arousal from moment-to-moment

group

2+ people who interact with, and exert mutual influence on, each other; interaction/interdependence; common objectives/goals; common characteristics

team

collective identity; distinctive roles; structured modes of communication; established norms

linear perspective (how groups develop)

forming: get to know each other, “sizing up”
storming: rebel, resist leadership
norming: conflicts are resolved
performing: members work together to achieve team goals

cyclical perspective (how groups develop)

experiencing birth, growth and death; assumption that as the group develops, it psychologically prepares for its own break-up

pendular perspective

emphasizes the shifts that occur in interpersonal relationships during the growth & development of groups

formal roles

dictated by the nature and structure of the team/sport

informal roles

evolve from the group’s dynamics or interactions among group members

Ringelmann Effect

phenomenon when individual performances decrease as the number of people in a group increases

informational feedback

provides info about errors and desired results/performance; information about the specific behaviors that should be performed, levels of proficiency to be achieved, and performer’s current level of proficiency

reinforcement feedback

provides info that increases the likelihood a performer will repeat a desired response; negative- removal of an unpleasant stimulus that results in the increase of a behavior; positive- a pleasant stimulus that increases a behavior

leadership

the process whereby an individual influences a group of individuals to achieve a common goals

trait approach (leadership)

successful leaders have certain personality characteristics that make it likely they will be leaders no matter the situation

behavioral approach

anyone can become an effective leader by simply learning the behaviors of other effective leaders

situational approach

effectiveness of an individual’s leadership style stems from matching the style to the situation

interactional approach

effectiveness of an individual’s leadership style stems from matching the style to the situation

sending messages effectively

Be direct, complete and specific
Be clear and consistent
Focus on one thing at a time
Reinforce with repetition
Look for feedback that message was accurately interpreted

breakdowns in communication

Breakdowns occur because a message is not sent effectively, not received effectively, or is misinterpreted.
-Lack of trust between persons
-Problem with transmission
-Assume the problem is “the other guy”

ultimate goal of PST: self-regulation

self-regulation is the ability to work toward one’s short- and long-term goals by effectively monitoring and managing one’s thought, feelings and behaviors

stages of self-regulation

identify problem, commitment, execution, environmental management, generalization

problem identification

identify a problem, determine change is possible, take responsibility for solution

execution

need to self-evaluate, self-monitor, develop proper expectancies, self-reinforce, sustain effort

environmental management

plan and derive strategies to manage social and physical environment that affects the individual

stress response

sympathetic nervous system activation; alarm reaction (fight or flight)

optimal stress

point where eustress and distress are intense enough to motivate and physically prepare us to perform optimally

how arousal affects performance

increases in arousal and state anxiety cause increases in muscle tension; increase in arousal and state anxiety decreases effectiveness of attention, concentration, and visual search patters

somatic anxiety reduction techniques

progressive muscle relaxation: maximally contract one specific muscle group at a time
breath control: breathing patterns differ according to physical-emotional state

biofeedback

physically oriented technique specifically designed to teach people to control physiological and autonomic responses

cognitive anxiety reduction techniques

relaxation response: applies basic elements of meditation and alters the state of mind; autogenic training: series of exercises designed to produce sensations, specifically warmth and heaviness

multimodal anxiety reduction

alleviate both cognitive and somatic anxiety while providing systematic strategies for rehearsal of coping procedures under simulated stressful conditions

categories of coping

problem-focused: efforts to manage the problem; emotion-focused coping: regulating the emotional responses

imagery

creating or recreating an event or skills in our mind based on: personal experience, observations of others

psychoneuromuscular theory

imagery programs muscles for action & facilitates the learning of motor skills: imagined events innervate the muscles as physical practice of the movement does

symbolic learning theory

imagery helps us understand movement patterns: functions as a coding system to help people understand and acquire movement patterns

bioinformational theory

images are made of stimulus and response propositions

psychological skills hypothesis

imagery develops and refines mental skills and reduces anxiety

imagery in sports

Acquire
Build confidence
Control emotional responses
Decision making, solve problems
Enhance motivation
Improve concentration

key imagery components

vividness: sights, sounds, smells, tastes, feeling, emotions/moods/thoughts; controllability: ability to be in command of one’s images, ability to distinguish when and where to use imagery

imagery perspective

internal perspective: seeing the execution of a skill from your own vantage point; external perspective: seeing yourself from the perspective of an outside observer

optimal level of self-confidence

so convinced that you can achieve your goals that you will strive hard to do so; inverted-U relationship between self-confidence and performance

types of sport confidence

physical: belief in your physical abilities; cognitive: belief in your mental abilities; resilience: belief in your ability to maintain after exceptional or poor performances

sources of sport self-confidence

achievement- mastery, demonstration of ability; self-regulation- physical/mental preparation, physical self-presentation; social climate- social support, coaches’ leadership, vicarious experience, environmental comfort, situational favorableness

coaching expectations & the self-fulfilling prophecy

higher expectations leads to different coaching behaviors (individualized coaching)

self-efficacy

perception of one’s ability to perform a task successfully; adapted to explain behavior in several disciplines of psychology

6 sources of self-efficacy

performance accomplishments, vicarious experiences, verbal persuasion, imaginal experience, psychological states, emotional states

goal setting

having the courage to develop a vision, the creativity to establish a plan, and the guts to commit to the journey

direct mechanistic view

where to: goals produce motivation; turn in 4 miles: goals direct attention; arrive at (time): goals increase effort & persistence; recalculating: goals promote new strategies

effectiveness of Goal Setting

more than 90% of general psychology studies show that GS has a consistent and powerful effect on behavior

outcome goals

focus on a competitive result of an event

performance goals

focus on achieving standards of performance or personal objectives

process goals

focus on the actions one must do during performance to perform well

design a goal setting system

preparation and planning, education and acquisition, implementation Goal follow-up and evaluation

preparation and planning

assess abilities and needs, set goals in diverse areas, consider individual differences, plan goal achievement strategies

education & acquisition

impart goal setting information & guiding principles: focus on one goal at a time, incorporate all angles of goals, set positive goals, record goals, record goals, develop goal achievement strategies , follow the SMARTS principle

attention= focus= concentration

mental effort placed on sensory events or thoughts; be mentally relaxed with a high degree of focus and control

attentional demands in sport

selective attention: focusing on relevant cues; maintaining attention: appropriate attention over time; situation awareness: sizing up a situation; shifting attention: switch focus between cues

attentional selectivity

focusing on relevant cues, while ignoring or screening out others; on WHAT are you focusing?

attentional capacity

control processing: movements are consciously controlled; automatic processing: movements are more autonomic; HOW MUCH information can be processed?

attentional alertness

increases in arousal narrow the attentional field because of a systematic reduction in the range of cue utilization, known as “perceptual narrowing”; decreases in arousal can cause too broad/lack of focus

nideffer’s attentional styles

more complex and rapidly changing situations demand more externally focused attention (get out of the mind); increased needs for analysis and planning require more internally focused attention (get into the mind)

nideffer’s attentional styles (cont.)

broad-external: environmental assessment; broad-internal: analytical athlete; narrow-external: single environmental cue; narrow-internal:limbs in space

nideffer’s attentional errors

broad-external: forget to think/stimulus overload; broad-internal: overanalysis/thinks about too many things at once; narrow-external: underinclusion/cannot adjust to changing environment; narrow-internal: chokers/focus on self-defeating thoughts

using effective cue words

instructional: directs attention to the present & process; motivational: directs attention to the positive

why exercise for psychological well-being?

25% of people will experience anxiety/20% depression; by 2020 depression will be 2nd to cardiovascular disease as leading cause of death

why exercise for psychological well-being? (2)

mental health problems account for 30% of total days in hospital; 10% total medical costs; exercise is related to decreases in anxiety and depression as well as increases in feelings of general well-being

effects of exercise

acute effects: immediate and possibly temporary effects arising from a single bout of exercise; chronic effects: long-term effect, focused on changes over time

reducing depression with exercise

exercise can be as effective as medication alone, as well as a combination of the two; sport participation; role of exercise frequency

enhancing mood with exercise

mood- a state of emotional or effective arousal of varying, impermanent duration; mood regulation

how injuries happen

physical factors (muscle imbalances, high-speed collisions, overtraining, physical fatigue) are the primary causes of exercise and sport injuries; psychological factors have been found to play a role

factors that predispose athletes to injury

personality, history of stressors, coping resources

stress-injury relationship

attention disruption; increased muscle tension; maladaptive attitudes

psychological reactions to injury

denial > anger > bargaining > depression > acceptance

3 general categories of responses to injury

injury relevant information processing; emotional upheaval and reactive behavior; positive outlook and coping

psychology of recovery

psychological factors affect adherence to treatment protocols; self-motivation: was significant predictor of home exercise compliance; goal setting & positive self-talk: were positively related to home rehabilitation exercise completion and program adherence

periodized training

deliberate strategy of exposing athletes to high-volume and high-intensity training loads that are followed by a lower training load

overtraining

a short cycle of training during which athletes expose themselves to excessive training loads that are near maximum capacity

staleness

athlete has difficulty maintaining standard training regimens and can no longer achieve previous performance results

burnout

physical, emotional, and social withdrawal from a formerly enjoyable sport activity

cognitive-affective stress model

burnout is a process involving physiological, psychological, and behavioral components that progress in predictable stages; components: situational demands, cognitive appraisal, physiological responses, behavioral responses

unidimensional identity development and external control model

burnout occurs because the structure of highly competitive sport

commitment and entrapment theory

burnout is explained within the context of sport commitment; burnout occurs when athletes become entrapped in sport and lose motivation but continue to participate

self-determination theory

people have 3 basic psychological needs: autonomy, competence, and relatedness. those who do not have these basic needs met will be more prone to burnout

common symptoms of overtraining

physical fatigue, mental exhaustion, sleep disturbances, mood changes

common symptoms of burnout

loss of interest, lack of desire to play, physical and mental exhaustion, lack of caring, depression, increased anxiety

benefits in youth sports

developing of social competence: the ability to get along with family, adults, coaches, teachers, kids; self-esteem: the level in which a person believes him/herself to be important, successful, worthy and capable

why children discontinue participation in sport

peak participation occurs between the ages of 10 and 13; sport-specific dropouts: withdraw from a particular program, but enter into other sports; sport-general dropouts: withdraw from all sport participation

morality in sport

fair play, good sporting behavior, character

fair play

allows all participants to have an equitable chance to pursue victory in competitive sport; understand and adhere to formal rules and the spirit of cooperation and unwritten rules of play necessary to ensure fair competition

good sporting behavior

involves an intense striving to succeed, tempered by commitment to the play spirit such that ethical standards will take precedence over strategic gain when the two conflict; good sporting behaviors must be specifically identified based upon: type of sport, level of play, age of participant

character

refers to an array of characteristics that can be developed in sport; comprises 4 interrelated virtues: fair play, good sporting behavior, compassion, integrity

social learning approach

positive sporting attitudes and behaviors deemed appropriate by society are learned through: modeling/observation, reinforcement, social comparison

structural-development approach

moral reasoning, moral development, moral behavior

social-psychological approach

takes advantage of what has been learned through both the social learning and structural-developmental approaches; must consider the personal elements in the structural-developmental approach + a wide range of social factors that go beyond reinforcement, modeling and social comparison elements of the social learning approach

strategies for enhancing character development

define: good sporting behavior; reinforce and encourage: good sporting behavior; model: appropriate behaviors; explain: why certain behaviors are appropriate

strategies for enhancing character development (cont.)

discuss: moral dilemmas and choices; teach: cooperative learning strategies; create: task-oriented motivational climate; transfer: power from leaders to participants

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