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Economic Systems

Published on Nov 25, 2015

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PRESENTATION OUTLINE

1.

Economic Systems

BROAD SOCIAL GOALS
Photo by onkel_wart (thomas lieser)
2.

Economic Problem

HOW TO DEAL WITH SCARCE RESOURCES AND UNLIMITED WANTS
Photo by Krypto
3.

Efficiency

MAXIMUM PRODUCTION & SATISFACTION VIA COST-BENEFIT ANALYSIS
Photo by Official U.S. Navy Imagery
4.

Equity

FAIRNESS (E.G., REDISTRIBUTION)
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5.

Freedom

CHOICE
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6.

GROWTH

SUSTAINED INCREASE IN PRODUCTION OF GOODS & SERVICES
Photo by c_ambler
7.

...measured by GDP

ANNUAL LEVEL OF NATIONAL INCOME; 3-4% IS REASONABLE
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8.

Security

PROTECTION AGAINST UNCONTROLLABLE RISK
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9.

Stability

ECONOMIC GROWTH, EMPLOYMENT, PRICE
Photo by Nikita Avvakumov
10.

...frictional unemployment

CHANGING JOBS; 4-5%
11.

...inflation/deflation

INCREASE/DECREASE IN AVG PRICE LEVEL
12.

ACTIVITY 1

CREATE YOUR OWN UTOPIAN SOCIETY
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13.

Allocate 100 points

ACROSS THESE DIFFERENT BROAD SOCIAL GOALS
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14.

SHARE

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15.

TALLY TIME

individual vs. nation
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16.

COMMAND VS. MARKET

A CLOSER LOOK AT THE BASIC GOALS
Photo by Cubmundo

Brock Rotter