Classtie

What is the 90/10 ratio? - ANS average income of the richest 10% divided by the average income of the poorest 90% What does disposable income not measure? - ANS quality of social and physical environment, amount of free time, goods and services you can't buy, goods and services that are produced within the household How to calculate nominal gdp? - ANS sum of (price of good i x quantity of good i) How to calculate real gdp? - ANS multiply prices from base year by quantities for year of mea...

Causes of migration - ANS New jobs Higher wages Cheaper housing Natural disaster Persecution Consequences of migration - ANS *Host country* - increased diversity of goods and services e.g. China town - direct effects on wages, taxes, government spending etc *Home country* - brain drain/gain - return and remittances Return migration - ANS Migrants return to the country of origin by their own choice after a significant period abroad Contract migration - ANS Migrant lives in host count...

economic history intro to demographic transition - ANS -the story of the 20th century was one of massive demographic growth -within the lifetime of just our parents the population has over doubled -3 billion in 1960 -7 billion in 2018 -9 billion projection in 2050 stage one of population growth - ANS -classic Malthusian trap of nature -this is typically very primitive societies trapped with the issue of not having enough food -high birth rates and high death rates -high death rates bec...

What are the 3 aspects of regeneration? - ANS - economic regeneration - social progress - living environment What are 3 ways we can measure the success of economic regeneration? - ANS Compare rates of - income - poverty - employment Before & after the scheme What are 3 ways we can measure the success of social progress? - ANS - reduction in inequality - reduction in deprivation - demographic changes like increased life expectancy, literacy rates, changes to lifestyle like smoking or o...

How has the function of Stratford changed overtime? - ANS Pre-industrial: known for its agriculture and farming Industrial: manufacturing- all jobs were in manufacturing Present day: retail, tourism, business What global influences have shaped the characteristics of Stratford? - ANS Globalisation caused the global shift which resulted in goods being cheaper to export overseas - this caused extreme deprivation in a manufacturing-reliant Stratford in the 1900s. Containerisation was far more ...

Causes of Economic Change in the UK: De-industrialisation - ANS - The north of England used to be a hub for trade with the United States of America and the British Empire. - Cotton and textiles were important English-produced commodities. - Cotton prices in England were benchmarked by the prices that were available in the market by Liverpool's port. - Since de-industrialisation, there are fewer jobs in manufacturing, in producing goods and in the north of England. Causes of Economic Chan...

Before Adam Smith - ANS - Aristotle - Scholastics - Mercentilism - Pre-classicist: David Hume - Quesnay & Physiocrats Aristotle (384-322 BC) - ANS Examples of reasoning about economic issues: 1. Exchange can only come if there is a potential surplus from the transaction that parties can share o Money simplifies transaction 2. Principle of diminishing marginal returns BUT, no understanding of the economic system as a whole yet Scholastics - ANS - Priests and teachers at medieval univers...

Introduction question - ANS - Graduated from UCL, BSc economics - student club - RB case competition - hobbies: free-diving (AIDA certification) Why LBS (why school) - ANS - Alumni: - Professional development - gift trip Why MiM programme (not mfa) - ANS - practical designed courses - diverse and global outlook - employment data as proof Why postgraduate? - ANS - connection with likeminded inviduals - enhance career prospects Student association or club - ANS - Women in business: (co...

Describe the location - ANS -South East England -Capital of England -River Thames runs through it -Bordered by counties such as Kent, Essex and Buckinghamshire -Population of 9 million - expected to reach 10 million in 2030 What is the importance of London? - ANS -Transport links - M25, rail links nationally, 4 major international airports 55% of the UK's foreign direct investment is into London and the South East -Major learning centres, e.g. UCL and imperial college, museums -Movemen...

Define - ANS Research done over long period of time where sample stays the same Why use them? - ANS - allows to measure society over time - allows comparisons to be made - correlations can be identified - cause and effect relationship established - measure things like poverty over life chances Example- 7Up series 1964 - ANS - followed lives of 14 British children aged 7 from different backgrounds - returned every 7 years to see how their lives changed - most recent documentary 63 Up was ...