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Midterm

Test 1 Review

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Department
Geography
Course
GEOG 216
Professor
Geraldine Akman
Semester
Fall

Description
Geography  216  Test  1  Review     Lecture  2:  Geographies  of  Global  Change   • Economic  geography  is  the  why  of  the  economic  where.   • Economic  geography  is  helpful  is  trying  to  figure  out  uneven  development,   industrial  location  etc..  and  if  we  can  figure  these  things  out  maybe  they  can   be  reproduced.     • Internationalization:  the  extent  to  which  different  national  economies   interact  with  one  another  through  the  exchange  of  goods  and  services   o Quantitative     o Focus  on  the  “extension  of  economic  activities  across  national   boundaries   o Trade  date/production  figures   • Economic  Globalization:  involves  more  than  increased  international  trade   o Quantitative  and  qualitative  approach     o Set  of  processes  through  which  economic  activities  are  increasingly   interconnected  –  function  integration  of  production  activities   o Emergence  of  a  new  set  of  actors  on  the  global  stage  (institutions,   agreements)     • Globalization  Explanations   1. Hyper-­‐globalizers   o New-­‐world  economic,  borderless  economy     o Nation  States  are  not  significant  actors   o Everything  is  becoming  homogenous     o Smaller  Camps  within  this  idea   2. Skeptics   o Economic  globalization  is  overblown  –  a  myth  or  mislabeling  of   internationalization     3. Transformationalists     o Globalization  is  on-­‐going  and  transformative     o New  geographies  are  being  created   o Economic  relationships  are  stretched  and  intensified   • Economic  integration  is  an  old  process.   o The  new  parts  of  Globalization  have  been  qualitative.  E.g.:   improved  technology,  new  markets,  institutions,  rules  &  norms,   new  actors  in  the  global  market   • Globalization  has  been  a  huge  component  of  capitalism.   • Globalization  and  creative  destruction  go  hand  in  hand.     Lecture  3:    Mapping  the  World  Economy   • Fordism:  mass  production  and  mass  consumption  (WW2-­‐1970’s)   • Post  Fordism:  computer  technology,  more  flexible  production   • Industries  want  to  locate  near  where  inputs  are  located  (old  idea)   • Agglomeration  à  businesses  located  in  the  same  area  to  stay  interconnected   • How  to  measure  development?   o GDP   o GDP  growth  rates   o Must  facto  in  inequality  within  the  country   o Capitalist  economies  must  have  at  least  3%  growth  per  year  to   continue   o HDI   • Modernization  Theory:  each  country  begins  undeveloped  and  moves  through   a  series  of  steps  to  become  industrialized  (Rostow)   • Dependency  Theory:  colonization  has  left  the  third  world  dependent  on  the   first  world  (Frank)   • World  Systems  Theory:  structural  relationships  between  places,  use  the   terms  core,  periphery  and  semi-­‐periphery  (Wallerstein)     • Uneven  Development:  path  dependency  between  nations   Lecture  4:  How  Economies  are  Organized   • Types  of  Economic  Sectors   o Primary:  fishing,  forestry,  mining,  agriculture,  natural  resources   o Secondary:  transformation  of  primary  goods,  assemble  raw  materials,   manufacturing   o Tertiary:  sale  and  exchange  of  goods  and  services  (retail,  professional,   education,  health)   o Quaternary:  handling  and  processing  of  knowledge  and  info   • Patterns  of  Production   o Formal  Sector:  recognized  by  the  state,  subject  to  the  law,  regulation   and  taxation,  small  businesses  à  MNCs   o Informal  Sector:  by-­‐pass  state,  tend  to  be  small  or  family  operated,   subsistence  farmers  to  urban  sellers   o Dualism:  exists  when  extremes  of  wealth  and  poverty  live  side  by  side   in  an  economy   o Public  Goods:  goods  and  services  that  are  provided  communally;   usually  by  the  government  (national  defense,  education,  parks,  roads,   healthcare…)   • Tasks  of  an  Economic  Society   o Organize  to  produce  enough  goods  and  services  to  assure  its  survival   o Arrange  the  distribution  of  production  so  more  production  can  take   place   o Answer  what,  how,  where,  to  whom,  and  by  whom   • Modes  of  Production  and  Distribution   o Systems  with  distinct  relationships  among  the  factors  of  production   o Capitalist  (Free  Market  Economy)   § Location  of  Decision  Making:  decentralized,  producer  and   consumer  sovereignty     § Ownership  and  control  of  the  means  of  production:  individual   entrepreneurs,  private  property  rights   § Allocative  mechanism:  price  mechanism  used  for  consumer   goods,  land,  labour  and  capital;  price  is  based  on  the   interaction  between  consumers  and  producers  in  the  market;   employees  sell  their  labour  according  to  industry  price   § Pattern  of  industry:  competition  with  freedom  of  entry  and  exit   § Spatial  organization:  spatially  e
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