political science

Economic Policy

Government actions to influence the economy including monetary, fiscal, trade policies, budget considerations, and job creation.

Monetary Policy

control of money supply and interest rates, primarily managed by the Federal Reserve.

Fiscal Policy

Government decisions regarding taxation, spending, and public deficit management.

Trade Policy

Regulations governing tariffs and trade agreements.

GDP / GDP per Capita

Measures of economic performance used to assess a country's economic health.

Rent & Rent-Seeking

Earning income through manipulation of the economic environment rather than by producing new wealth.

Import-Substitution Industrialization

Economic policy focused on developing domestic industries to reduce imports.

Progressive Tax

Tax system where higher incomes are taxed at higher percentages.

Regressive Tax

Tax system where the same dollar amount is paid regardless of income.

Corruption

The act of misusing public resources for private gain.

Baumol’s Cost Disease

Phenomenon where wages rise in low-productivity sectors due to higher wages in other sectors.

Justice

The principle of treating individuals according to what they deserve based on philosophical frameworks.

Substantive/Distributive Justice

Justice based on the allocation of resources according to needs and merit.

Procedural Justice

Fairness in the processes that lead to decisions.

Due Process

Standardized procedures designed to ensure fair treatment in the justice system.

Externality

Costs or benefits of actions that are not accounted for in the decision-making of individuals, such as pollution.

Democracy

A system of government in which power is vested in the people, characterized by free and fair elections and respect for human rights.

Authoritarianism

A political system characterized by the concentration of power and limited individual freedoms.

Autocracy

A system of government where a single person possesses absolute power.

Military Government

A form of government where the military controls the political agenda, often following a coup.

One-Party State

A political system where a single political party controls the governance and no other parties are allowed.

Monarchy

A government led by a king or queen, often inheritable, varying in power from symbolic to authoritative.

Theocracy

A form of government in which religious leaders control political power.

Arab Spring

A series of anti-government protests and uprisings in the Arab world beginning in 2010.

Color Revolutions

Non-violent uprisings in post-Soviet states aimed at removing authoritarian regimes.

Political Culture

Shared beliefs and attitudes about politics within a society.

Political Socialization

The process through which individuals acquire their political beliefs and values.

Authority

The institutionalized power to make and implement policies.

Legitimacy

The acceptance by citizens that the government has rightful authority.

Social Capital

Networks and trust that enable society to function effectively.

Civic Culture

The view citizens hold regarding their role and participation in politics.