The document summarizes key aspects of the economy as a social institution. It discusses three major revolutions - agricultural, industrial, and information - that transformed economic structures over thousands of years. The agricultural revolution led to specialized work and trade. The industrial revolution centralized work in factories and manufacturing. The information revolution shifted the economy from tangible goods to ideas and services. The document also compares economic models like capitalism, socialism, and mixed systems.
economy as social institution
historical overview
sectors of economy
sector of Pakistani economy
two basic models of economy, Capitalism and socialism
a new model of economy
economy as social institution
historical overview
sectors of economy
sector of Pakistani economy
two basic models of economy, Capitalism and socialism
a new model of economy
The economy is the institution that provides for the production and distribution of goods and services, which people in every society need. Sometimes they can provide these things for themselves, and sometimes they rely on others to provide them. When people rely on others for goods or services, they must have something to exchange, such as currency (in industrialized societies) or other goods or services (in nonindustrialized societies). The customs surrounding exchange and distribution of good and services shape societies in fundamental ways.
Sociology and Religion: Religion as a Social InstitutionRohan Byanjankar
The presentation covers: Definition of religion, components of religion, characteristics of religion, major religions of world, Views of Functionalist such as Durkheim, Views of Marx, Weberian Perspective; other related topics such as Religion and Suicide, Religion and Gender and so on.
Learning Outcomes:
Identify and describe the characteristics and functions of different social institutions
Explain and illustrate the various types of governments
Discuss the relationships between economy and education
Show the interrelationships among the social institutions
The economy is the institution that provides for the production and distribution of goods and services, which people in every society need. Sometimes they can provide these things for themselves, and sometimes they rely on others to provide them. When people rely on others for goods or services, they must have something to exchange, such as currency (in industrialized societies) or other goods or services (in nonindustrialized societies). The customs surrounding exchange and distribution of good and services shape societies in fundamental ways.
Sociology and Religion: Religion as a Social InstitutionRohan Byanjankar
The presentation covers: Definition of religion, components of religion, characteristics of religion, major religions of world, Views of Functionalist such as Durkheim, Views of Marx, Weberian Perspective; other related topics such as Religion and Suicide, Religion and Gender and so on.
Learning Outcomes:
Identify and describe the characteristics and functions of different social institutions
Explain and illustrate the various types of governments
Discuss the relationships between economy and education
Show the interrelationships among the social institutions
Economic System is the system of production, distribution and consumption of goods and services in a particular society.
The economic system is composed of people, institutions and their relationships.
It addresses the problems of economics like the allocation of the resources.
Economic System : An organized way in which a state or nation allocates its resources and distributes goods and services in the national community.
Economic system classified into mainly three economic system
Three economic system:
1.market-based economy
2.command-based economy
3.mixed economy
conomic Environment refers to all those economic factors, which have a bearing on the functioning of a business. Business depends on the economic environment for all the needed inputs. It also depends on the economic environment to sell the finished goods. Naturally, the dependence of business on the economic environment is total and is not surprising because, as it is rightly said, business is one unit of the total economy.
Economic environment influences the business to a great extent. It refers to all those economic factors which affect the functioning of a business unit. Dependence of business on economic environment is total — i.e. for input and also to sell the finished goods. Trained economists supplying the Macro economic forecast and research are found in major companies in manufacturing, commerce and finance which prove the importance of economic environment in business. The following factors constitute economic environment of business:
(a) Economic system
(b) Economic planning
(c) Industry
(d) Agriculture
(e) Infrastructure
(f) Financial & fiscal sectors
(g) Removal of regional imbalances
(h) Price & distribution controls
(i) Economic reforms
(j) Human resource and
(k) Per capita income and national income
Credits : Christ uni.
Lec x Economy as Social Institution - Imran Ahmad SajidDr. Imran A. Sajid
These are the Slides for MA (Final year) Students of the Department of Social Work, University of Peshawar.
Course Title: Social Institutions and Social System of Pakistani Society
Dr. Imran Ahmad Sajid
Economy Revolution of Economy Sectors of the Economy Global Economy Underground Economy Socialism and Communism Factor of Production Function of Economy Characteristics of Economy
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
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Embracing GenAI - A Strategic ImperativePeter Windle
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This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
2. Economy
• Definition:
• The economy is the social institution that organizes a society’s
production, distribution, and consumption of goods and services.
3. Historical overview
• As an institution, it operates in predictable manner
• Goods are commodities
• Services are activities
• We value goods and services
• The economic structures are result of thousand of years of social change
• There are three basic revolutions that have transformed the social life
4. • The Agricultural Revolution
• The Industrial Revolution
• The Information Revolution and Postindustrial Society
5. The Agricultural Revolution
• Simple society
• Hunting and gathering together
• No distinct economy
• Producing and consuming
• About 5000 years ago a new agricultural eonomy was created
• 50 times more productive
• Specialized workers
• Barter system
• With the passage of time four factors developed which made economy a distinct
social institution.
6. The Agricultural Revolution
• Four factors are
• agricultural technology
• specialized work
• permanent settlements
• trade
7. The Industrial Revolution
• Second technological revolution
• Started in 18 century
• Industry was developed 1st in England then in north America
• It bring more powerful change in economy than rise of agriculture
8. Industrial revolution
• Industrialization changed the economy in five fundamental ways:
» 1. New sources of energy
» 2. Centralization of work in factories.
» 3. Manufacturing and mass production.
» 4. Specialization.
» 5. Wage labor.
• It raised the living standards
• Expand the market
• But the benefits were unequally
9. • At beginning , factory owners made vast fortunes
• Workers were living close to poverty
• Laboure worked even for peny/day in mines
• Women were amongst most lowest paid
10. The Information Revolution and Postindustrial Society
• In 1950 nature of productivity started changed
• Post industrial economy was created in U.S.A
• It is a productive system based on service work and high technology
• Automated machines were started to use, which
– Reduce the role of human labour in production
– Expand the ranks of clericale workers and managers
– Shift the industrial work to service work
• Driving this change is a third technological breakthrough: the
• Computer
11. • New kinds of products and new forms of communications have altered
the character of work
• In general, there have been three significant changes:
1. From tangible products to ideas.
2. From mechanical skills to literacy skills
3. From factories to almost anywhere.
12. Sectors of the Economy
• The three revolutions shifted balance among the three sectors of a
society’s economy.
– Primary sector
– Secondary sector
– Tertiary sector
13. Primary sector
• draws raw materials from the natural environment
• it is of greatest importance (26% of the economy) in low-income nations
• 10 percent of economic activity in middle-income nations
• just 2 percent in high-income countries such as the United States
• Examples: agriculture, raising animals, fishing, mining and forestry
14. Secondary sector
• transforms raw materials into manufactured goods
• Grow quickly as societies industrialized
• It includes operations such as refining petroleum into gasoline and
turning metals into tools and automobiles.
• • is a significant share (25%–35%) of the economy in low-, middle-, and
high-income nations
• Examples: automobile and clothing manufacturing
15. Tertiary sector
• is the part of the economy that involves services rather than goods
• • is the largest sector (49%–73%) in low-, middle-, and high-income
countries
• About 85 percent of the U.S. labor force is in service work which include
1. secretarial and clerical work
2. positions in food service , sales, law, health care, law enforcement,
advertising, and teaching.
18. Preindustrial vs industrial vs post industrial
Economic institution can be breakdown based on level of
economic progress achieve….
Preindustrial society: focus on primary sector
Industrial society : focus on secondary sector
Postindustrial society: focus on tertiary sector
19. Global economy
• economic activity that crosses national borders
• The development of a global economy has five major consequences.
1. dvision of labour
2. Increased no of products
3. No longer control of national governments
4. small number of businesses, operating internationally, now control a vast share of the
world’s economic activity
5. raises concerns about the rights and opportunities of workers.
20. Economic systems:
• Every society’s economic system makes a statement about justice by
determining who is entitled to what.
• There are two basic models
– Capitalism
– Socialism
21. Capitalism
• Capitalism is an economic system in which natural resources and the
• means of producing goods and services are privately owned.
• . An ideal capitalist economy has three distinctive features:
1. Private ownership of property
2. Pursuit of personal profit.
3. Competition and consumer choice
• Consumers regulate a free-market economy
• Justice in a capitalist system amounts to freedom of the marketplace
22. Capitalism results in
• greater productivity
• higher overall standard of living
• greater income inequality
• freedom to act according to self-interest
• Example: The United States has a mostly capitalist economy.
23. socialism
• an economic system in which natural resources and the
• means of producing goods and services are collectively owned
• In its ideal form, it has three opposite features to capitalism
1. Collective ownership of property
2. Pursuit of collective goals
3. Government control of the economy
• Justice in a socialist context means not competing to gain wealth
• but meeting everyone’s basic needs in a roughly equal manner
24. Socialism results in
• less productivity
• lower overall standard of living
• less income inequality
• freedom from basic want
• Examples: The People’s Republic of China and Venezuela have mostly
socialist economies
25. Socialism and Communism
• socialism and communism are not same
• Communism is a hypothetical economic and political system in which all
members of a society are socially equal.
• Karl Marx viewed socialism as one important step on the path toward
the ideal of a communist society that abolishes all class divisions.
• But this communist goal has not been achieved in any country
• Marx might have agreed that a communist society is a utopia
• (from Greek words meaning “no place”
26. Welfare Capitalism and State Capitalism
These are the blends of capitalism and socialism
1. Welfare Capitalism
an economic and political system that combines a mostly market-based
economy with extensive social welfare programs.
Under welfare capitalism,
government may own some large industries such as transportation and the mass
media
most industry is privately owned but highly regulated by government
high taxation of the rich helps pay for extensive government services for all
Examples: Sweden and Italy have welfare capitalist economies.
27. Welfare Capitalism and State Capitalism
2. State Capitalism
an economic and political system in which companies are privately
owned but cooperate closely with the government
Under state capitalism,
government works in partnership with large companies by
supplying financial assistance
controlling foreign imports
• Examples: Japan and Singapore have state capitalist economies.
28. Relative Advantages of Capitalism
and Socialism
• Comparing economic models is difficult because all countries mix
capitalism and socialism to varying degrees
• nations differ in cultural attitudes toward work, access to natural
resources, levels of technological development,and patterns of trade.
• Despite such complicating factors, some crude comparisons are
revealing.
29. Capitalism vs. Socialism
• Economic productivity
– GDP is $13,500
• Economic equality
– More income disparity
• Personal freedom
– Emphasizes freedom to pursue
personal self-interest
• Economic productivity
– GDP is $5,000
• Economic equality
– Less income disparity
• Personal freedom
– Emphasizes freedom from
basic want
No system has yet been able to offer both political
freedom and economic equality
30. Work in postindustrial economy
• The Decline of Agricultural Work
• From Factory Work to Service Work
• The Dual Labor Market:
1. primary labor market
2. secondary labor market,
• Labor Unions:
• Organizations of workers that seek to improve wages and working conditions through various
strategies
• Decline of unions
• Shrinking industrial sector
• Service jobs are unlikely to be unionized
31. Professions
• A profession is a prestigious white-collar occupation that requires
extensive formal education
• Jobs:
– Agricultural work represents only 1.7% of jobs.
– Blue-collar, industrial work has declined to 13% of jobs.
– White-collar, service work has increased to 85% of jobs.
32. Characteristics of professions
• An occupation is considered a profession to the extent that it
demonstrates the following four basic characteristics
1. Theoretical knowledge.
2. Self-regulating practice.
3. Authority over clients.
4. Community orientation rather than self-interest.
33. Self-Employment
• earning a living without being on the payroll of a large organization
• Lawyers, physicians, and other professionals are well represented
• among the ranks of the self-employed
• most self-employed workers are small business owners, plumbers,
carpenters, freelance writers,
• editors, artists, and long-distance truck drivers.
34. Unemployment and Underemployment
• Every society has some unemployment.
• Jobs disappear as:
1. occupations become obsolete.
2. businesses change the way they do business.
3. companies downsize or close
• In early 2011, 8.9% of the country’s labor force was unemployed.
• At highest risk for unemployment are young people and African Americans.
35. Unemployment, and Underemployment
• Underemployment: Lower salaries, fewer benefits, and reduced/no
pensions
• Many workers agree to cuts in pay and/or benefits.
36. underground economy
• economic activity involving income not reported to the government as
required by law
• Most of us occasionally participate in the underground economy in
small ways.
• Much of the underground economy is due to criminal activity.
• The largest segment is people who fail to report legally earned income
on their tax returns.
37. Race and Gender in the Workplace
• In the past, white men have been the mainstay of the US labor force.
• In the future, more workers will be women and minorities.
• The workplace must develop programs and policies that meet the needs
of a socially diverse workforce and encourage everyone to work
together effectively and respectfully.
38. Information Technology and Work
1. Computers are deskilling labor.
2. Computers are making work more abstract
3. Computers limit workplace interaction.
4. Computers increase employers’ control of workers.
5. Computers allow companies to relocate work.
39. Corporations
• An organization with a legal existence, including rights and liabilities,
separate from that of its members.
• it makes an organization a legal entity
• shields owners’ wealth from lawsuits brought against the company
• can result in a lower tax rate on the company’s profits
40. Economic concentration
• A few large corporations dominate the US economy
• 2,848 corporations with assets exceeding $2.5 billion, representing 81
percent of all corporate assets
• The largest U.S. corporation in terms of sales is Walmart.
• Its annual sales ($419 billion in 2011) equal the combined tax revenues
of forty-four of the states
41. Conglomerates and Corporate Linkages
• Economic concentration has created the conglomerate
– a giant corporation composed of many smaller corporations.
• enter new markets
• spin off new companies
• merge with other companies.
• Example is PepsiCo
• Many conglomerates are linked because they own each other’s
Stock
Example is General Motors
42. • Corporations are also linked through interlocking directorates,
– networks of people who serve as directors of many corporations
• These boardroom connections give corporations access to valuable
information about other companies’ products and marketing strategies.
• These linkages are perfectly legal
• such linkages may encourage illegal activity, such as price fixing,
•
43. Corporations: Are They Competitive?
• According to the capitalist model, businesses operate independently
in a competitive market.
• large corporations do not operate independently.
• Few corporations dominate others
• They are not truly competitive
• Monopoly:
• the domination of a market by a single producer,
• such a company could simply charge whatever it wanted for its products.
• Laws forbids of any monopoly
44. • Oligopoly:
– the domination of a market by a few producers
– It is legal and common
– arises because the huge investment needed to enter a major market
– Competition means risk, oligopoly lessened the risk
– Example is auto-industry
45. Corporations and the Global Economy
• Many large corporations operate as multinationals, producing and
distributing products in nations around the world.
• Modernization theorists claim that multinationals raise living standards
in poor countries by offering them more jobs and advanced technology.
• Dependency theorists claim that multinationals make global inequality
worse by pushing poor countries to produce goods for export and making
them more dependent on rich nations
46. The economy looking ahead
• Social institutions are a society’s way of meeting people’s needs
• the U.S. economy only partly succeeds in accomplishing this goal
• Economy experiences expansion and recession
• shift from industrial work to jobs created by the Information Revolution.
• the postindustrial economy has brought rising unemployment and
declining wages for industrial workers
• A second transformation of recent years is the expansion of the
global economy
47. A new model of economy
• analysts around the world are rethinking conventional economic models
• socialism is less productive than capitalism
– Which is a reason collapse of the socialist regimes in Eastern Europe and
the Soviet Union
• capitalism has its own problems,
– high levels of inequality and a steady stream of corporate scandal
• First,the economic future of the United States and other nations will be
played out in a global arena
• Second, it is imperative that we address the related issues of global inequality
and population increase.
48. • Whether the world reduces or enlarges the gap between rich and poor
societies may well steer our planet toward peace or war.