Economy

Revision Seminar 2021-2022

Sierra Stopper
What do you think of when you hear the word
“Economy”?
• Balanced budget Bankruptcy Beneficiary
• Capital Capitalism Commerce
• Collateral Debt Disposable income
• Earning power Embargo Equity
• Finance Fluctuation Free enterprise
• Gratuity Hedge fund Income
Economy:

• the management of the

resources of a
community, country,
etc., esp. with a view to
its productivity.
 Economic Development
• According to Wikipedia, this “is a policy intervention endeavor with aims
of economic and social well-being of people.”
• What are some of the most recent ideas for this development?
• E.g. Roosevelt Institute:
http://rooseveltinstitute.org/10-ideas-economic-development-2016/
- Local tax policy, rent relief, income discrimination, affordable homes…
Money, resources, and people.
 Knowledge Economy
• “an economy in which growth is dependent on the quantity,
quality, and accessibility of the information available, rather
than the means of production.”
• Types of economy: agriculture, manufacturing, and service-based.
• Knowledge economy: research, technical support, consulting, etc.
• http://www.investopedia.com/terms/k/knowledge-economy.asp
Discussion: What do these images make you
think of? - What does it look like to live in a global economy? 
- What do you do when you buy something online? Where does it come
from? How much does it cost for it to get there? 
- What are some of the costs (or downsides) to such a world economy?
 Economy and Trade
• A BIG topic here…
• How does trade between countries work basically/generally speaking?

• 1. How is Slovakia affected by trade with other countries? Who are its allies?
• 2. How is the UK affected by trade…?
• 3. How is the US affected by trade…?

• What is their relationship to each other?

 Tourism:
• If you type in “Bratislava” on the
computer, what comes up first?
• How many tourists come to
Slovakia per year? (2008 – 1.8
million tourists -
http://www.slovak-republic.org/tra
vel/
)
 Tourism
• Tourism in the U.S.A.:
• 2014 – 1.47 TRILLION dollars
• 2015 – 75 million visitors (non-residents) – NYC most popular spot
• U.S. travelers typically go to the beaches.

• Tourism in the UK:

• 115.4 billion pounds in 2009
• 2012 (and other) Winter Olympics
• 2010 – almost 30 million visitors
• British Museum = most popular site
How does this affect their economies?

How many jobs does it provide?

 Other Resources:
• Business, Finance, and Economics Vocabulary:
https://myvocabulary.com/word-list/business-finance-and-economics-voca
bulary/
• Travel and Tourism Industry in the USA:
https://www.statista.com/topics/1987/travel-and-tourism-industry-in-the-u
s/
• UK Tourism Facts and Figures:
http://www.telegraph.co.uk/news/earth/environment/tourism/8587231/UK
-Tourism-facts-and-figures.html
• Travel and Tourism in Slovakia: http://www.slovak-republic.org/travel/
 Sources:
• Change.News. 2016. 16 Nov 2016. http://change.news/news/the-truth-about-the-american-economy/
• “CAFTA, a Key Element of Growth in Nicaraguan Economy.” Central Law. 2016. 16 Nov 2016.
http://www.central-law.com/en/news/item/73-cafta-a-key-element-of-growth-in-nicaraguan-economy
• “Economic Conditions.” Avameg, Inc. 2016. 16 Nov 2016.
http://www.referenceforbusiness.com/encyclopedia/Eco-Ent/Economic-Conditions.html
• Wordreference.com. 16 Nov 2016. http://www.wordreference.com
• “Economy.” Yale Center for Business and the Environment. 2016. 16 Nov 2016.
http://cbey.yale.edu/topic/economy
• “Trade Finance.” Discover & Invest, Ltd. 2016. 16 Nov 2016.
http://discoverandinvest.com/products/trade-finance/
• “Global Farmer Network.” Global Farmer Network. 2016. 20 Nov 2016.
http://globalfarmernetwork.org/author/admin/
• “Trade Finance.” Nordea. 2016. 20 Nov 2016. http://www.nordea.com/en/our-services/tradefinance/
• “Bratislava – the Capital of Slovakia.” Slovakia.com. 2016. 20 Nov 2016. http://www.slovakia.com/bratislava/