Inflation and Golden Age

Topics: Inflation, Americas, Foreign exchange market Pages: 5 (2000 words) Published: December 3, 2014
4311 - FALL 2014
Where do we find the answers?
CARDOSO-HELWEGE: Chapters 1, 2, 4, 5, 6, 7
FRANKO: 3, 4, 5
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Here you have a list of questions to help you prepare for the midterm. You should know all the material included in these questions but this does not mean that all midterm questions are going to be copy paste from this list. You should be ready to answer very similar questions. Learn and understand the material instead of memorizing it.

You will see that some questions are redundant. This is so you get used to answer similar questions.
Working in study groups is strongly encouraged.
If you have questions, or you do not know where to find a specific solution please post it on the Moodle forum. Feel free to answer your classmates’ questions on Moodle.

1. Geography: Place Latin American countries in a map. Capitals. Bigger countries? Smaller countries? Biggest cities?
2. Why do we exclude former non-Spanish colonies of the Caribbean and South America from our concept of Latin America? Why don’t we exclude Haiti?
3. Why is Puerto Rico excluded from the concept of Latin American countries? 4. What are the four main elements that Latin American countries have in common?

5. Why is that first colonizers in the region known today as Mexico could easily find gold and silver while in Brazil this was not the case?
6. What commodities from Brazil enriched the Portuguese crown before finding gold? 7. When Portuguese found gold in Brazil, their policies regarding the colony changed. How did they change?
8. What are the reasons that made gold and silver so valuable? (Hint: think of international trade) 9. What was the first mineral being extracted by Spaniards in America? And the second one?

10. Were Spanish colonies allowed to trade among them? Were they allowed to trade with other European countries? What do you think were the effects on economic development in the colonies resulting of such a policy?

11. What are the components of the encomienda system that was instituted under the colonization? What did this system do for the indigenous people? And the rich elite? 12. Explain what the core of the mercantilist theory is.

13. When did mercantilism as an economic theory of development lose favor? Why? 14. What are the reasons why the colonized region remained underdeveloped? 15. What is the Dutch disease and what are its implications? Where does the term ‘Dutch disease’ come from?

16. The Colonial Years are divided into two subperiods. Which ones? What is the difference between them? Why did they move from the first to the second period? 17. What were the incentives given to Spaniards to settle into the recently discovered lands in America?

18. Was the main goal of early conquistadors to colonize the Americas? Explain. If not, what was the main goal?
19. What are the differences in size and use between a "latifundio" and a "minifundio"? 20. What were the four factors that encouraged the independence movement in Latin America? When did the independence movement take place?

21. In the aftermath of independence, most Latin American countries faced the task of reconstruction. What were the challenges that this countries faced? 22. During the first half of the nineteenth century there was a lot of violence. Why? What were the economic repercussions?

23. The period 1820-1870 was disappointing in terms of economic progress for Latin America. What are the reasons for the bad performance of Latin American economies? Elaborate. 24. By the 1840s Latin America started to participate in world trade more extensively. Why was this possible?

25. 1870 to 1914 is known as “The Golden Age”. What are the reasons for this economic expansion? Why did this period finish in 1914?
26. During the Golden Age, what promoted an increase in exports? 27. List three countries and the main commodity they were exporting during the Golden Age...
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