Economics
What are the two main types of economics? (Hint: one studies individual actors, the other the overall economy)
Microeconomics and Macroeconomics
Which country has been experiencing great returns because of their creation of the Labubu?
Pop Mart (which we will visit!)
Which country was the main target of the Trump administration's tariffs starting in 2018, leading to a "trade war"?
China
What year did the Great Depression start?
1929
Name one exec who is also affiliated with the Engineering Club
- Timmy
- Madison
What does GDP stand for?
Gross Domestic Product
In budgeting, what does ROI stand for?
Return on Investment
Name one of the top 4 FASHION capitals (cities) of the world (2024)
- Milan
- Paris
- NYC
- London
Which product did the Barbie dolls have fierce competition with in the early 2000s?
Bratz Dolls
Which BE exec is ALSO an involved humanities student?
Mackenzie
What is it called when the government spends more money than it collects in taxes?
Budget deficit
What does SWOT stand for?
Strengths, Weaknesses, Opportunities, and Threats
Many countries are suffering from a declining birthrate. Name the top country with the LOWEST birthrate in 2024.
- Macau
- Hong Kong
- SK
What unusual ingredient was in the original Coca-Cola?
Cocaine
Name two other countries than China Mr. Baker has taught in
- Australia
- Korea
What is the U.S. Federal Reserve mainly in charge of?
Managing interest rates and inflation
Name the city home to the largest stock exchange
New York City
Name the top oil exporter country in the world
- Saudi Arabia
- Russia
- Canada
Which U.S. president tried to fix the Great Depression with programs like the Civilian Conservation Corps?
Franklin D Roosevelt
Name one BE alumni who is currently attending Wharton
- Daisy Dai
- Chris Li
Name one concept of Keynesian economics
The state must play an active role in stabilizing the economy.
Left alone, markets can fall into unemployment and stagnation (like during the Great Depression).
The state should manage demand and smooth out economic cycles
Who is Anna Delvey?
Russian-born German con artist who became famous for orchestrating a sophisticated scam within New York City's high society by pretending she was a trust fund baby.
What is the difference between the IMF and the World Bank?
World Bank is a developmental institution that promotes long-term economic and social progress in developing countries by raising productivity.
IMF is a cooperative institution. Its goal is to maintain an orderly international monetary system.
Name one reason Karl Marx believed that capitalism is a bad system
1. Specialization leads to a lack of perceived value
2. Capitalism makes people replaceable
3. Workers get paid little and capitalists get rich
4. We produce too much compared to what people need to consume
5. Capitalism is bad for capitalists by promoting work instead of leisure
Name one thing stored in Mr. Baker's closet
Did you get it?