© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Final Exam (Cumulative)  Midterm #1:  Chapters: 2-10  Midterm #2:  Chapters: 11-16, 18  Last 1/3 of Class:  Chapters: 17, 19-23

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Resources  Midterms #1, #2  Quizzes 1-7  Powerpoints (including Midterm Reviews)  Textbook

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Chapter 17: Topics/Terms  Second Industrial Revolution  Continuous Flow Production  Corporations  Legal Changes, benefits, drawbacks  Attempts to control markets and reduce competition  Gentleman’s Agreements and Pooling  Trusts and Holding Companies  Chandler’s Thesis  Horizontal and Vertical Integration, (2 distinct phases)  Why did firms grow so large in the late 1800s?  Monopoly control of markets  Increasing economies of scale  Sherman Anti-Trust Act

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Chapter 19: Finance after 1860  US Money Supply and Prices  Greenbacks  Fiat Currency  Deflation after the Civil War  Bimetallism vs Gold Standard  Gresham’s Law and the Crime of 73  William Jennings Bryan and the Wizard of Oz  The Dual Banking System  National Banks vs State banks  The Federal Reserve

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Chapter 20  Urbanization  Why did towns and cities grow?  Wholesellers  Why did wholeselling decline in the late 1800s?  Brand Names  Product Differentiation  Monopolistic Competition  Change in US Comparative Advantage  Change in types of goods exported/imported

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Chapter 21: World War I  US Neutrality  Export goods to Europe  Change from Debtor to Creditor Nation  Financing the War  Borrowing (US Treasury Bonds) most important source  Price Controls, Rationing  Deadweight losses, other inefficiencies  Compare Price controls to rationing  Costs of the War  Lives, government spending, draft

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Chapters 22: The 1920’s  Rapid economic growth, mass production  Consumer goods available to general population  Changes in Money, Prices  Prices remain stable even though money supply increases by 50%. Why?  Immigration Restrictions  Chinese exclusion Act  Immigration Acts of 1917, 1924  Increased income inequality  The Booming Stock Market  Why did the stock market triple in value?  The Economics of Prohibition  Shifts in Supply? Demand?

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Chapter 23  Real GDP vs Nominal GDP  Causes of the Great Depression  Dust Bowl, Stock Market Bubble, Banking Panics  Changes in Money and Banking  Bank Holiday, FDIC Insurance, End of the Gold Standard  Real vs Nominal Interest Rates  Smoot-Hawley Tariff Act  Not a major cause of the Great Depression  Fall in the Money Supply  Monetary Base, Money Multiplier