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IMAT Reading Skills and General Knowledge · Free notes

Politics, Economics and Society: A Revision Checklist of Institutions and Ideas

Politics, Economics and Society has 29 past questions since 2011, and the ministry papers from 2023 on have asked 2 of them. The ministry questions so far tested a definition: the role of the President in a parliamentary system and the name of an economy built on digital technology. The older papers leaned on international organisations, their acronyms and seats, and on Italian and European institutions, with some economics and social vocabulary. Most of the work is exact recall of names, dates and roles, and the difficulty sits in near-identical options, such as two councils with similar names or an EU member that does not use the euro.

The handout has every subtopic, worked example, formula and trap with answers shown. The formula sheet is the chapter’s formulas and traps alone, on one page.

Subtopic notes

Formula & revision sheet

0 formulas · 22 reference tables · 23 gotchas across all subtopics — the exam-eve cheat-sheet

Forms of State and Government, and the Separation of Powers

Reference tables (4)

Monarchy and republic, unitary and federal states6 rows
FormMeaningExamples
Absolute monarchyThe monarch holds all power, with no binding constitutionFrance under Louis XIV; Saudi Arabia and Vatican City today
Constitutional (parliamentary) monarchyHereditary head of state; power lies with parliament and governmentUnited Kingdom, Spain, Netherlands, Belgium, Sweden, Denmark, Norway, Japan
RepublicElected head of state for a fixed termItaly, France, Germany, USA
Unitary statePower held centrally, regions with delegated powersFrance, Portugal, Greece; Italy (with strong regions)
Federal statePowers divided by the constitution with member statesUSA, Germany (Länder), Austria, Switzerland (cantons), Belgium, Canada, India
City-stateA single city that is a sovereign stateAncient Athens; today Vatican City, Monaco, Singapore
Parliamentary, presidential and semi-presidential systems5 rows
SystemHead of StateHead of GovernmentExamples
Parliamentary republicPresident, often elected by parliament; mainly a guarantorPrime minister, who needs parliament's confidenceItaly, Germany, Austria, Greece, India
Parliamentary monarchyKing or queenPrime minister, who needs parliament's confidenceUnited Kingdom, Spain, Sweden, Netherlands
Presidential republicPresident, elected by the peopleThe same president; no confidence voteUSA, Brazil, Mexico, Argentina
Semi-presidential republicPresident, elected by the people, with real powersPrime minister appointed by the president but answerable to parliamentFrance (Fifth Republic, 1958), Portugal, Romania
Directorial systemA collective bodyThe seven-member Federal CouncilSwitzerland
The separation of powers and how parliaments are built7 rows
TermMeaningExample
Legislative powerMakes lawsItalian Parliament: Chamber of Deputies and Senate
Executive powerGoverns and carries out lawsItalian Government: the Council of Ministers
Judicial powerApplies laws and judges disputesIndependent judges (magistrates)
Perfect bicameralismTwo chambers with identical powersItaly: both chambers pass every law and both give confidence to the Government
Imperfect bicameralismOne chamber has more powerUnited Kingdom; Germany (Bundestag over Bundesrat)
Unicameral parliamentA single chamberPortugal, Greece, Sweden, Denmark
Vote of no confidenceParliament removes the governmentExists in parliamentary systems, not in presidential ones
Religion and the state in European countries9 rows
CountryStatus of religionFact to remember
EnglandEstablished Church of EnglandThe monarch is its Supreme Governor (since Henry VIII)
DenmarkState church: the Evangelical Lutheran ChurchWritten into the constitution
GreeceEastern Orthodoxy is the "prevailing religion" in the constitutionThe Church of Greece has a special legal status
MaltaRoman Catholicism is the religion of the stateStated in the constitution
Vatican CityTheocracy: the Pope is head of stateIndependent since the Lateran Pacts of 1929
ItalyNo state religion since the 1984 revision of the Lateran PactsConstitution articles 7 and 8 regulate relations with the churches
SpainNon-confessional state (1978 constitution)No faith has a state character
FranceStrict secularism (laïcité)Law separating churches and state, 1905
SwedenChurch of Sweden separated from the stateSince 2000

Watch out for (4)

The Italian Republic: Constitution, Institutions and Regions

Reference tables (3)

The birth of the Italian Constitution and its key articles8 rows
Date or articleWhatDetail
2 June 1946Institutional referendum and election of the Constituent AssemblyRepublic chosen; women vote nationally for the first time
22 December 1947Constitution approvedBy the Constituent Assembly
1 January 1948Constitution enters into force139 articles
Article 1Founding principleItaly is a democratic republic founded on labour; sovereignty belongs to the people
Article 3EqualityAll citizens are equal before the law, without distinction of sex, race, language, religion, political opinion or personal and social condition
Article 11PeaceItaly repudiates war as a means of offence and of settling international disputes
Article 32HealthHealth is a fundamental right of the individual and an interest of society; free care for the poor
Article 139Limit on amendmentThe republican form of the state cannot be changed by constitutional revision
Parliament, President of the Republic and Government of Italy6 rows
InstitutionHow chosenTermMain role
Chamber of DeputiesDirect universal suffrage, voters aged 18 and over5 yearsMakes laws; gives or withdraws confidence
Senate of the RepublicDirect universal suffrage on a regional basis, voters aged 18 and over (since 2021)5 yearsSame powers as the Chamber
President of the RepublicElected by Parliament in joint session plus regional delegates7 yearsHead of State; appoints the Prime Minister; promulgates laws; can dissolve the chambers; chairs the High Council of the Judiciary
President of the Council of MinistersAppointed by the President of the Republic; needs the confidence of both chambersNo fixed termHead of Government; directs the Council of Ministers
Constitutional Court15 judges: a third each from the President, Parliament and the highest courts9 yearsJudges whether laws respect the Constitution
High Council of the Judiciary (CSM)Two thirds elected by judges, one third by Parliament; chaired by the President of the Republic4 yearsSelf-government of judges: appointments, transfers, discipline
Regions, referendums and the National Health Service6 rows
Body or toolNumber or dateFact to remember
Regions20 (5 with special statute)Ordinary regions were set up in 1970
Autonomous provinces2Trento and Bolzano
Municipalities (comuni)About 7,900Led by an elected mayor (sindaco) and council
National Health Service (SSN)1978 (Law 833)Universal coverage, run regionally through local health authorities (ASL)
Abrogative referendumArticle 75Repeals a law; needs a turnout above 50% of eligible voters
Constitutional referendumArticle 138Can confirm a constitutional amendment; no turnout requirement

Watch out for (3)

The European Union, the Euro and International Organisations

Reference tables (5)

The institutions of the European Union6 rows
InstitutionWho sits in itHow chosenSeat
European ParliamentMembers of the European Parliament (720 elected in 2024)Direct election by citizens every 5 yearsStrasbourg (plenary sessions); also Brussels and Luxembourg
European CouncilHeads of state or government, its President and the Commission PresidentMembers by office; its President chosen for 2.5 yearsBrussels
Council of the European UnionOne minister per member stateMembers by office; the presidency rotates every 6 monthsBrussels
European CommissionOne commissioner per member statePresident proposed by the European Council and elected by Parliament; 5-year termBrussels
Court of Justice of the EUOne judge per member stateAppointed by the governments for 6 yearsLuxembourg
European Central BankExecutive Board and euro-area central bank governorsAppointedFrankfurt
The euro and EU membership5 rows
GroupCountriesRemember
Euro notes and coins from 1 January 2002Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, SpainTwelve countries; Greece had joined in 2001
Later membersSlovenia 2007, Cyprus and Malta 2008, Slovakia 2009, Estonia 2011, Latvia 2014, Lithuania 2015, Croatia 2023, Bulgaria 202621 euro countries in 2026
EU members outside the euro (2026)Czechia, Denmark, Hungary, Poland, Romania, SwedenEach keeps its own currency
Non-EU users of the euroAndorra, Monaco, San Marino and Vatican City by agreement; Montenegro and Kosovo on their ownNot members of the euro area's decisions
EU membership27 states since the United Kingdom left on 31 January 2020Norway, Switzerland and Iceland are not EU members
The United Nations and its agencies7 rows
AgencyFull nameHeadquartersRole
WHOWorld Health Organization (1948)GenevaInternational public health; World Health Day is 7 April
UNESCOUN Educational, Scientific and Cultural OrganizationParisEducation, science, culture; keeps the World Heritage List
UNICEFUN Children's FundNew YorkChildren's health, education and rights
FAOFood and Agriculture OrganizationRomeFights hunger; Rome also hosts the World Food Programme and IFAD
UNHCRUN High Commissioner for RefugeesGenevaProtects refugees
ILOInternational Labour Organization (1919)GenevaLabour standards and workers' rights
IAEAInternational Atomic Energy AgencyViennaPeaceful use of nuclear energy
NATO, the Bretton Woods institutions and other organisations7 rows
OrganisationFounded and seatRole
NATO (North Atlantic Treaty Organization)1949; BrusselsMilitary alliance for collective defence
IMF (International Monetary Fund)1944; Washington DCShort-term loans to countries in balance-of-payments crises; watches exchange rates
World Bank1944; Washington DCLong-term loans for development and reducing poverty
WTO (World Trade Organization)1995, replacing GATT (1947); GenevaSets and enforces the rules of trade between nations; settles trade disputes
OECD (Organisation for Economic Co-operation and Development)1961; ParisPolicy research among advanced economies; runs the PISA school tests
OPEC (Organization of the Petroleum Exporting Countries)1960 in Baghdad; ViennaCoordinates oil production among producers
Council of Europe1949; StrasbourgHuman rights and democracy; not part of the EU
Human rights texts and non-governmental organisations7 rows
Body or textDate and placeWhat it is
Universal Declaration of Human Rights10 December 1948, Paris30 articles of basic rights, adopted by the UN
European Convention on Human Rights1950, Council of EuropeBinding treaty; enforced by the court in Strasbourg
International Committee of the Red Cross1863, Geneva; founder Henry DunantNeutral help to victims of war; guardian of the Geneva Conventions; Dunant shared the first Nobel Peace Prize (1901)
Amnesty International1961, LondonHuman rights campaigns; against torture and the death penalty
Médecins Sans Frontières1971, ParisIndependent medical aid in wars and disasters; Nobel Peace Prize 1999
Greenpeace1971, VancouverEnvironmental campaigns
Emergency1994, Milan; founder Gino StradaFree surgery and care for victims of war

Watch out for (6)

Basic Economics: Markets, Measures, Policy and Economists

Reference tables (5)

Supply, demand and market prices6 rows
ChangeEffect on priceEffect on quantity traded
Demand rises (more buyers, higher incomes, a fashion)RisesRises
Demand fallsFallsFalls
Supply rises (cheaper inputs, better technology)FallsRises
Supply falls (bad harvest, new tax on producers)RisesFalls
Maximum price set below equilibrium (price ceiling)Held downShortage: buyers want more than sellers offer
Minimum price set above equilibrium (price floor)Held upSurplus: sellers offer more than buyers want
GDP, inflation and unemployment7 rows
MeasureDefinitionNote
GDPValue of final goods and services produced within a country in a yearCounts production inside the borders, whoever owns it
GNI (formerly GNP)Income earned by a country's residents, at home or abroadAdds income from abroad, subtracts income paid abroad
InflationGeneral rise in pricesThe ECB aims for 2% a year over the medium term
StagflationHigh inflation with weak growth and high unemploymentSeen after the oil shocks of the 1970s
Unemployment rateUnemployed divided by labour forcePeople not looking for work are outside the labour force
Budget deficit and public debtDeficit: one year's spending above revenue; debt: total borrowing accumulatedEU limits: 3% and 60% of GDP
Gini coefficientMeasure of income inequality from 0 (all equal) to 1 (one person has everything)Higher means more unequal
Monetary policy, fiscal policy and central banks7 rows
TermWho actsTools or role
Monetary policyCentral bankInterest rates, bond purchases, money supply
Fiscal policyGovernment and parliamentTaxes and public spending
Expansionary policyEitherCut rates, cut taxes or raise spending to boost demand
Contractionary policyEitherRaise rates, raise taxes or cut spending to cool inflation
European Central BankEuro area, Frankfurt (1998)Sets interest rates for the euro; inflation target 2%
Federal ReserveUSA (1913)Central bank of the United States
Bank of EnglandUnited Kingdom (1694)One of the oldest central banks
Economists and their ideas11 rows
EconomistCountry and dateKey idea or work
Adam SmithScotland, 1776The Wealth of Nations; the "invisible hand" of the market; division of labour
Thomas MalthusEngland, 1798Population grows faster than food supply
David RicardoEngland, 1817Comparative advantage: countries gain by specialising and trading
Karl MarxGermany, 1867Capital: a critique of capitalism; class struggle
Vilfredo ParetoItaly, about 1900Pareto efficiency; the 80/20 principle
John Maynard KeynesEngland, 1936The General Theory: governments should spend to fight unemployment
Joseph SchumpeterAustria, 1942Creative destruction by innovation
Friedrich HayekAustria, 1944The Road to Serfdom: against central planning
John NashUSA, 1950Nash equilibrium in game theory; Nobel 1994
Milton FriedmanUSA, 1960sMonetarism
Amartya SenIndia, Nobel 1998Welfare economics, poverty and famine
Currencies of the world17 rows
CurrencyWhere it is used
Pound sterlingUnited Kingdom
Swiss francSwitzerland and Liechtenstein
Krona or kroneSweden (krona); Denmark and Norway (krone); Iceland (króna)
ZłotyPoland
ForintHungary
KorunaCzech Republic
LeuRomania and Moldova
RoubleRussia
YenJapan
Yuan (renminbi)China
RupeeIndia, Pakistan, Sri Lanka, Nepal
RealBrazil
PesoArgentina, Mexico, Chile, Colombia and others
RandSouth Africa
BahtThailand
WonSouth Korea
LiraTurkey (and Italy until 2002)

Watch out for (5)

Society, Rights, Media and the Modern Economy

Reference tables (5)

Types of economy and modern economic terms8 rows
TermMeaningExample
Mixed economyPrivate markets alongside a large public sectorItaly and most of Europe
Planned (command) economyThe state decides what is produced and at what priceThe Soviet Union
Digital economyProduction and exchange built on digital technology, the internet and ICTOnline shops, app stores, streaming
Sharing economyPeople share access to under-used goods and services through platforms; access is preferred to ownershipCar sharing, home sharing
Gig economyShort-term, task-by-task work arranged through appsFood-delivery riders, ride-hailing drivers
Circular economyProducts and materials kept in use by repair, reuse and recycling, so waste becomes a resourceOpposite of the linear take, make, dispose model
GlobalisationGrowing integration of world trade, finance, people and cultureGlobal supply chains
Sustainable developmentGrowth that does not harm future generationsUN 2030 Agenda: 17 Sustainable Development Goals (2015)
Social science and research vocabulary10 rows
TermMeaning
CensusAn official count of a whole population (in Italy, run by ISTAT)
SampleA part of a population studied to draw conclusions about the whole
Birth rateBirths per 1,000 people per year
Fertility rateAverage number of children per woman
Ageing populationA rising share of older people in the population
UrbanisationThe movement of people from the countryside to cities
PlaceboAn inactive substance or treatment given for comparison
Double-blind trialNeither the patients nor the researchers know who receives the real treatment
Social mobilityMovement of people between social classes or income levels
MeritocracyA system in which positions are earned by ability and effort
Milestones in voting rights and women in leadership11 rows
DateMilestoneCountry or person
1893First country where women vote in national electionsNew Zealand
1906First European country to give women the vote and the right to standFinland
1918 and 1928Women's vote, then on equal terms with menUnited Kingdom
1946Women vote in a national electionItaly
1971Women's vote at federal levelSwitzerland
1960World's first woman prime ministerSirimavo Bandaranaike, Sri Lanka
1966, 1969, 1979Women prime ministersIndira Gandhi (India), Golda Meir (Israel), Margaret Thatcher (United Kingdom)
1988First woman to lead a Muslim-majority countryBenazir Bhutto, Pakistan
1964Civil Rights Act ends legal segregationUSA, after the movement led by Martin Luther King
1994First free elections, end of apartheidSouth Africa; Nelson Mandela president
2021 and 2022First women prime ministersMagdalena Andersson (Sweden); Giorgia Meloni (Italy)
Newspapers and technology companies15 rows
NameCountry or typeFact to remember
Corriere della Sera; La RepubblicaItalyMilan, 1876; Rome, 1976
Le Monde; Le FigaroFranceParis dailies
The Times; The GuardianUnited KingdomLondon dailies
El PaísSpainMadrid, 1976
Frankfurter Allgemeine Zeitung; Süddeutsche ZeitungGermanyFrankfurt; Munich
De TelegraafNetherlandsAmsterdam
The New York Times; The Washington PostUSAWashington Post broke the Watergate story (1972)
MicrosoftTech company, 1975Bill Gates and Paul Allen
AppleTech company, 1976Steve Jobs and Steve Wozniak
AmazonTech company, 1994Jeff Bezos
GoogleTech company, 1998Larry Page and Sergey Brin
WikipediaOnline encyclopedia, 2001Jimmy Wales and Larry Sanger
Facebook (now Meta)Social network, 2004Mark Zuckerberg
YouTubeVideo platform, 2005Chad Hurley, Steve Chen and Jawed Karim; bought by Google in 2006
Twitter (now X)Social network, 2006Jack Dorsey and others
Island groups and the countries they belong to11 rows
IslandsCountryFact to remember
Azores and MadeiraPortugalAutonomous regions in the Atlantic
Canary IslandsSpainAtlantic, off the coast of Morocco
Balearic IslandsSpainMallorca, Menorca, Ibiza, in the Mediterranean
CorsicaFranceBirthplace of Napoleon
Sicily and SardiniaItalyRegions with a special statute
Greenland and the Faroe IslandsDenmarkSelf-governing territories
SvalbardNorwayArctic archipelago
Falkland IslandsUnited KingdomClaimed by Argentina (Malvinas); war of 1982
Galápagos IslandsEcuadorVisited by Darwin in 1835
HawaiiUSABecame the 50th state in 1959
Cape VerdeIndependent republic since 1975Former Portuguese colony off West Africa

Watch out for (5)

PYQ weightage by concept

22 concepts · 0 PYQs — where the marks actually sit, so you know what to drill first

Forms of State and Government, and the Separation of Powers0 PYQs · 0%
ConceptPYQsShare
Monarchy and republic, unitary and federal statesfoundation——
Parliamentary, presidential and semi-presidential systemsfoundation——
The separation of powers and how parliaments are builtfoundation——
Religion and the state in European countriesfoundation——
The Italian Republic: Constitution, Institutions and Regions0 PYQs · 0%
ConceptPYQsShare
The birth of the Italian Constitution and its key articlesfoundation——
Parliament, President of the Republic and Government of Italyfoundation——
Regions, referendums and the National Health Servicefoundation——
The European Union, the Euro and International Organisations0 PYQs · 0%
ConceptPYQsShare
The institutions of the European Unionfoundation——
The euro and EU membershipfoundation——
The United Nations and its agenciesfoundation——
NATO, the Bretton Woods institutions and other organisationsfoundation——
Human rights texts and non-governmental organisationsfoundation——
Basic Economics: Markets, Measures, Policy and Economists0 PYQs · 0%
ConceptPYQsShare
Supply, demand and market pricesfoundation——
GDP, inflation and unemploymentfoundation——
Monetary policy, fiscal policy and central banksfoundation——
Economists and their ideasfoundation——
Currencies of the worldfoundation——
Society, Rights, Media and the Modern Economy0 PYQs · 0%
ConceptPYQsShare
Types of economy and modern economic termsfoundation——
Social science and research vocabularyfoundation——
Milestones in voting rights and women in leadershipfoundation——
Newspapers and technology companiesfoundation——
Island groups and the countries they belong tofoundation——