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Public finance

AP World History - The Earth and It's Peoples - Chapter 14-15 Outline

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World History
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Finance
Public finance
Borjigin
Year of birth uncertain
Ögedei Khan
Han Dynasty
Tax
Farm
Business
Money
Asia
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earth and its people

Julia Leno Dr. Connellan ? 6 AP World History 24 November 2012 Chapter 14-15 Outline Great Khan Ogodei told his Confucian advisor that he planned to turn the heavily populated North China Plain into a pasture for livestock. Yelu (advisor) argued that taxing the existing cities and villages would bring greater wealth but the Khan took the gentler approach although the tax system he instituted was not the fixed-rate method traditional to China but the oppressive tax farming already in use in the Il-khan empires in the Middle East. Benefits of oppressive tax farming: Trade Science Technology Transportation Communication The Mongols also forced exchange of experts and advisers between eastern and western Eurasia. This led to the rapid spread of information, ideas and skills.

The fiscal Cliff

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Economics
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Fiscal policy
Economic policy
Public economics
Public finance
Economy of the United States
United States public debt
Government
Government budget deficit
United States federal budget
Business
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American Economy

Welles Harris The Fiscal Cliff The fiscal cliff refers to an automatic $560 billion in tax increases and spending cuts that would go into effect, beginning in January 2013, to supposedly reduce the US budget deficit. Realistically, these cuts and tax increases would only reduce the national debt by a few percentage points. I believe the Simpson-Bowles Budget Alternative is currently the one of the better plans proffered for our country. This bipartisan plan, created by Alan Simpson, a former Republican senator, and Erskin Bowles, a Democrat who was previously the Chief of Staff under the Clinton administration, achieves debt reduction via tax to cuts ratio of 1:2.

Macroecon - building up to monetary policy

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Economics
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Economics
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Monetary economics
Money
Monetary policy
Public finance
Money supply
Federal Reserve System
Monetary base
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macro
macroeconomics
monetary policy
Definitions • MS • MB • Multiplier Tools • Open market operation (most used) • Discount loans/rate • Required reserve ratio Fiscal policy: the government affecting outcomes by using its budget Monetary policy: the government (fed) affecting outcomes via financial markets Money supply: quantity of money (M1) = currency + deposits Monetary base: Currency + reserves (except cash reserves) (M0) Reserves-> the banks’ account at the Fed (controlled by Feds) Imagine there’s no cash Imagine RRR = 10% Banks lives are simple- asset management Let’s say the Fed wants to engage in an open market purchase A L A L
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