Economics 4130 Final Study Guide

Econ 4130 Summer, 2013

Final Study Guide

Name: G. Senney

Instructions. The final exam will consist of 2 questions chosen from the following list and 1 from the midterm list. Your answers must be written in blue or black ink in the exam booklets provided in class; answers in any other color or pencil will not be graded and result in a zero. Please start each question on a new page of the booklet. On the front page of your first booklet, you should only write your name, “Econ 4130 Final”, the number of booklets used, and if you are a graduating senior as shown in the example “Front Page of Exam Booklet” on Carmen. If you use multiple booklets be sure to label them like “2 of 3” so it is obvious what order they go in. Furthermore, no answers written on the front page will be graded. Good luck! 1. Briefly describe the Industrial Revolution. Provide an explanation with explicit examples as to why Britain was the first to industrialize. 2. According to the data shown in class, was nearly everyone malnourished until the 20th ? Why or why not? Briefly describe a Waaler surface. If you were to plot average height and weight over time on a Waaler surface, what would it show? How does it help us to know the reasons behind the decline mortality rates?

3. Briefly describe the general environment of technologic progress. Why might the market deliver a suboptimal level of technology? Be sure to discuss at least three of the determinants of technological development. 4. What are the three strategic sectors of a modern economy? Choose one of the three and discuss its importance with explicit examples.

5. Why is 1850 to 1914 called the first wave of globalization? With explicit examples for the causes and effects, example the convergence of living standards that occurred during this time period.

6. What was the Great Depression? Briefly describe why it is believed to have been an American led world recession. Be sure to highlight important causes in your explanation.

7. Briefly describe the state of the world in the 1930’s. Explain with explicit examples the economic causes of World War II. What ended up being the major deciding factor in the Allies victory?