economics ii 2/2/2012. learning objectives critically analyze social problems by identifying value...
TRANSCRIPT
Learning Objectives
• Critically analyze social problems by identifying value perspectives and applying concepts of sociology, political science, and economics;
• Use knowledge and analyses of social problems to evaluate public policy, and to suggest policy alternatives, with special reference to questions of social justice, the common good, and public and individual responsibility.
Readings
• Required – Economic Policy (Chapter 7) Dye – American Dilemmas Handbook, pp 73-88
• Optional – Wealth and Poverty: U.S. and Global Economic
Inequalities (Chapter 2) Kendall
Paper Proposal
• Due in class on 2/7
• 5% of your final Grade
• Involves submitting 2 Parts– Worksheet– 2 page paper
Goal 4: A positive Balance of Trade
• A Nation Wants to Export more than it Imports
• The United States is the reverse
The Big Mac Index
• A way of measuring the strength of the dollar
• Big Mac’s involve a fixed product
• What it involves• http://www.youtube.com/watch?v=sz656YOEixI
Why We have a Trade deficit
• Where it comes from
• What are the reasons
Goal 5: Sound Tax Policy
• A sound tax policy should collect as much at it spends
• A sound policy does not disrupt the functioning of the economy
Where to set the Tax Rate• http://www.youtube.com/watch?v=dxPVyieptwA
The National Debt: The problem of our Tax Policy
• We accumulate annual budget Deficits
• We have to Pay interest on this
• We owe roughly 14 Trillion Dollars
Raising Taxes
• A Political Albatross
• We like Tax Cuts instead
• We Like sin taxes- but we are running out of these
Cut Spending
• There is No Political Gain to do so
• Cut Back on Entitlements
• Reduce Discretionary Spending
The Role of Social Class
• What is Social Class
• How the United States compares to other nations
• Why social class is not as important in the United States
Working Class• About 30% of the Population
• Not as identifiable in the United States as other Nations
• Tend to be Hourly rather than salaried
Why not social class
• The Parties do not try to exploit social class
• We have never had an appreciable socialist movement
• People identify with other groups before class
Measuring Social Class
• We ask people which class they belong to– We are very likely to say middle class
• Within Social classes there are great variations in income
• Our partisanship doesn’t change with rising or lowering class.
Social Class and Partisanship
Republicans• Do better with poor whites
in the South
• Do better with Upper Middle Class voters
• Historically have done better with Middle Class voters
Democrats• Do better with poor and
working class
• Do better with the very wealthiest
• Do better with Union Members
Social Class and Voting
• Wealthy people vote at higher Rates
• Related to education
• Lower Information Costs