Module 3

Question 1

What interrogates economic doctrines to disclose their sociological and political premises?

Answer 1

Political Economy

Question 2

What determine how economic and social actors interact with each other?

Answer 2

Social Intitutions

Question 3

What draws heavily on economics, political science, law, history and sociology to explain the politico-economic behaviour of a country?

Answer 3

Political economy

Question 4

A school of thought in economics where it includes rational preferences, utility maximisation, and perfect information?

Answer 4

Neoclassical

Question 5

A school of thought in economics where it includes economic cycles, principle of effective demand, and full employment?

Answer 5

Post-Keynesian

Question 6

A school of thought in economics where it includes exploitation, labour theory of value – surplus value, economic crisis?

Answer 6

Marxian

Question 7

A school of thought in economics where it includes methodological individualism, free choice, tyranny of the State?

Answer 7

Austrian

Question 8

A school of thought in economics where it includes rules of the game, bounded rationality, path dependency?

Answer 8

Institutionalist

Question 9

A school of thought in economics where it includes special interests, rent seeking?

Answer 9

Public Choice

Question 10

What can be thought of as the study of how political forces
affect the choice of economic policies?

Answer 10

Political Economy

Question 11

What is the policy that involves money supply and inflation; interest rates; reserve requirements?

Answer 11

Monetary Policy

Question 12

What is the policy that involves who pays and how much; corporation tax and FDI; tax breaks and tax justice?

Answer 12

Taxation Policy

Question 13

What is the policy that involves redistribution; Merit goods (education, health, housing); State investment?

Answer 13

Public Spending

Question 14

What is the policy that involves consumer rights; Privatisation and competition; Sustainability?

Answer 14

Regulatory Policy

Question 15

What is the policy that involves collective Bargaining; Wage floors; Pensions?

Answer 15

Wages and Incomes Policy

Question 16

What is the policy that involves regional development; Mixed economy; Innovation systems?

Answer 16

Industrial Policy

Question 17

What is the policy that involves protectionism; Globalisation; Free trade?

Answer 17

Trade Policy

Question 18

What is the policy that involves human capital (e.g. education); Physical Capital (e.g. broadband infrastructure); Productivity (e.g. R&D)?

Answer 18

Growth Policy

Question 19

What is is the study of resource allocation and production under constraint?

Answer 19

Economics

Question 20

What are the three constraints mentioned in economics?

Answer 20

• What should be produced?
• How should it be produced?
• Who benefits from its production?

Question 21

What are the different conceptions of economic justice?

Answer 21

Conservative Maxim
Liberal Maxim
Radical Maxim
Humane Maxim

Question 22

What economic justice means payment according to the value of one’s personal contribution and the contribution of the productive property one owns?

Answer 22

Conservative Maxim

Question 23

What economic justice means payment according to the value of one’s personal contribution only?

Answer 23

Liberal Maxim

Question 24

What economic justice means payment according to effort, or the personal sacrifices one makes?

Answer 24

Radical Maxim

Question 25

What economic justice means payment according to need?

Answer 25

Humane Maxim

Question 26

What idea underpins a variety of different economic and social organisations?

Answer 26

Idea of a Welfare State

Question 27

What reflects activist state policy to protect and promote the economic and social well-being of its population?

Answer 27

Welfare State

Question 28

The welfare state is funded through what kind of taxation?

Answer 28

Redistributive Taxation or Progressive Taxation

Question 29

What do you call s form of economic and social organisation where a system in which the state plays a role in the protection of its citizens?

Answer 29

Welfare State

Question 30

What state gives not just physical protection and the maintenance of order, but also the promotion of the economic and social well-being of its citizens?

Answer 30

Welfare State

Question 31

What can be seen as a combination of collectivism, capitalism, social welfare policy and democracy?

Answer 31

Welfare State

Question 32

What are the 5 purposes of a Welfare State?

Answer 32

- Minimum standards in housing, education, health - Poverty reduction and basic income (minimum wages, social transfers) - Equality of opportunity - Equitable distribution of wealth and income - Protection of those unable to provide for themselves

Question 33

What are the types of welfare capitalism?

Answer 33

Social-democratic Christian-democratic Liberal

Question 34

What welfare state surrounds the idea that a central authority should have a subsidiary function, performing only those tasks which cannot be performed effectively at a more immediate or local level?

Answer 34

Christian-democratic

Question 35

What welfare state believes its citizens should be immunised from market dependency?

Answer 35

Christian-democratic

Question 36

What welfare state has dominance of social insurance schemes and permits a high degree of social stratification?

Answer 36

Christian-democratic

Question 37

What welfare state is based on the principles of market dominance and private provision?

Answer 37

Liberal

Question 38

What state would only intervene to provide for basic needs (poverty relief)?

Answer 38

Liberal

Question 39

What welfare state maintains social hierarchies and has high social stratification?

Answer 39

Liberal

Question 40

What welfare state is based on the principle of universalism?

Answer 40

Social-democratic

Question 41

What welfare state means benefits and services are accessed based on citizenship and are automatic depending on status (e.g. age or employment status)?

Answer 41

Social-democratic

Question 42

What welfare state provides a high degree of personal autonomy (limits reliance on family and the market)?

Answer 42

Social-democratic

Question 43

Which welfare state is a hybrid system where it is also called as a 'mongrel' welfare state?

Answer 43

Irish Welfare State

Question 45

Which country uses a mix of means-tested, insurance based and universalist income support and service arrangements?

Answer 45

Ireland

Question 46

What represents the mixed economy and a compromise between capital and labour?

Answer 46

Welfare State