Faculty of Economics and Business
BACHELOR IN ECONOMICS FIRST YEAR Course
Economic History
Code
802342
Module
Basic Formation
Area
Economic History and Institutions
Nature
Basic
Attendance
2,7
Non Attendance
3,3
Semester
1
Credits
6
Year
1
COORDINATION DEPARTMENT Historia e Instituciones Económicas II
COORDINATOR AND CONTACT José Antonio Sebastián Amarilla;
[email protected]
% OF TOTAL CREDITS
ATTENDANCE
Lectures
30%
100%
Classes
10%
50%
Tutorials
6%
100%
Assessment activities
4%
100%
Homeworks and class assignments
20%
0%
Time to study
30%
0%
TEACHING ACTIVITIES
Faculty of Economics and Business
SYNOPSIS BRIEF DESCRIPTION This course deals with the long term development of the world economy. It examines it in a comparative perspective, focusing on the interplay between economic growth and institutional, social, and technological change.
PRE-REQUISITES None.
OBJETIVES To strengthen the undergraduate student’s capacity of analysis of the world economy and cultural background by teaching him/her to approach current economic issues with a historical (long run) perspective.
COMPETENCES General: CG1, CG2, GC3, CG4. Transversal: CT1, CT2, CT3. Specific: CE1, CE6.
LEARNING METHODOLOGY A mixed methodology of teaching and learning will be used in all educational activities with the aim of encouraging students to develop a collaborative and cooperative attitude in the pursuit of knowledge.
TOPICS COVERED (Syllabus) 1. Economic Growth in the Long Run Why history matters. Identifying the big issues in economic development. The long term perspective. 2. Economic History and Economic Development Key concepts, indicators and theories of economic growth The rise of the West vs. the rise of the Rest 3. The European Miracle The dynamics of agrarian economies Inherited ideas and institutions European Expansion 4. The First Industrial Revolution and the Transformation of the English Economy Major and interrelated changes in politics, population, agriculture, industry, trade and finance c. 1760-c. 1850 Innovation and economic growth Prerequisites and determinants of industrialization
Faculty of Economics and Business
5. The Spread of Industrialization: Early Comers The second industrial revolution Main characteristics of the industrialization of France, Germany, and the United States 6. The Spread of Industrialization: Latecomers Main characteristics of the industrialization of the Scandinavian countries, Italy, Russia, and Japan 7. The International Economy Free trade, migration, capital export and the Gold Standard The first globalization? 8.The Economic Impact of the First World War Short and long term effects. 9.The Great Depression The US economy Financial and industrial dimensions of the crisis Responses to the crisis 10. The Making of the New International Order The Second World War: short and long term effects Bretton Woods The Marshall Plan Truman’s doctrine 11. The Golden Age of Capitalism Determinants Foundations of the welfare state The German and Japanese miracles The limits of prosperity 12. The Rise and Fall of Socialism The USSR The spread of socialism Why and how it failed 13. The Search for a New Order The industrial crisis of the 1970s The third industrial revolution The triumph of the market The rise of the rest
ASSESSMENT Exams
% Share of Final Grade
50 %
% Share of Final Grade
30%
Final Exam 50%
Other Activities
Faculty of Economics and Business
Cases & Quizzes 30%
Other activities
& Share of Final Grade
20%
Active participation in the classroom: 10% Individual oral presentations: 10%
EVALUATION CRITERIA Fail (0-4.9), pass (5-10) “Convocatoria ordinaria”: Not presented, to the last week of November (included) “Convocatoria extraordinaria”: Not presented if the student does not attend the final exam.
Continuous assessment in the extraordinary examination: in case one student has failed the ordinary examination, having attended the final exam and participated in the continuous assessment, the mark to be considered as continuous assessment for that extraordinary examination will be the final mark obtained in the ordinary examination.
Faculty of Economics and Business
TIMETABLE CONTENTS
HOME WORK & PRACTICAL CLASSES
Why History Matters Identifying the big issues in economic development The long term perspective
Readings: “Climbing back”, The Economist (Jan. 19, 2006)
Economic History and Economic Development Key concepts, indicators and theories of economic growth The rise of the West vs. the rise of the Rest
The European Miracle The dynamics of agrarian economies Inherited ideas and institutions European Expansion
Readings: Cameron & Neal, chapter 1 Practical exercise: Dealing with historical statistics (Maddison 1000-present) Internet search: HDI Cameron & Neal, chapters 3, 5 and 6 Jones, preface to the second edition Practical exercise: The price revolution and the rise of the Dutch economy Internet search: Early modern empires
The First Industrial Revolution and the Transformation of the English Economy Major and interrelated changes in politics, population, agriculture, industry, trade and finance c. 1760-c. 1850 Innovation and economic growth Prerequisites and determinants of industrialization The Spread of Industrialization: Early Comers The second industrial revolution Main characteristics of the industrialization of France, Germany, and the United States
The Spread of Industrialization: Latecomers Main characteristics of the industrialization of the Scandinavian countries, Italy, Russia, and Japan
Cameron & Neal, chapters 7 and 8 Mokyr, chapter 1 Floud & McCloskey, volume 1 Engels, introduction Practical exercise: England’s demographic transition Internet search: British Empire Cameron & Neal, chapter 9 Practical exercise: E.-J. Sieyès Internet search: A. Hamilton, F. List, C. SaintSimon Cameron & Neal, chapter 10 Practical exercise: 19th century literacy rates
Faculty of Economics and Business
The International Economy Free trade, migration, capital export and the Gold Standard The first globalization?
Cameron & Neal, chapter 11 Kenwood & Lougheed, chapters
The Economic Impact of the First World War Short and long term effects.
Aldcroft, chapter 1 Keynes
The Great Depression The US economy Financial and industrial dimensions of the crisis Responses to the crisis BBC documentary
The Making of the New International Order The Second World War: short and long term effects Bretton Woods The Marshall Plan Truman’s doctrine
Practical exercise: First vs. second globalization (commodity trade and capital flows) Internet search: US immigration
Practical exercise: Alternatives to the Versailles Treaty Internet search: Human and financial cost of the First World War Cameron & Neal, chapter 14 Aldcroft, chapters 2 and 3 Chandler & Tedlow, case 22 Practical exercise: The 1930s crisis vs. the current crisis Internet search: Volkswagen Cameron & Neal, chapter 15 Practical exercises: Marshall Plan, H.S. Truman Internet search: Morganthau Plan
The Golden Age of Capitalism Determinants Foundations of the welfare state The German and Japanese miracles The limits of prosperity
Aldcroft, chapter 5
The Rise and Fall of Socialism The USSR The spread of socialism Why and how it failed
Aldcroft, chapter 6
The Search for a New Order The industrial crisis of the 1970s The third industrial revolution The triumph of the market The rise of the rest
Aldcroft, chapters 7-10
Practical exercise: Technical innovation and productivity Internet search: US military bases and expenditure
Practical exercise: Growth rates and factors in state-planned economies Internet search: Josef Stalin, Deng Xiao Ping
Practical exercise: Emerging countries Internet search: Washington Consensus
Faculty of Economics and Business
RESOURCES HANDBOOK CAMERON, Rondo & NEAL, Larry (2003): A Concise Economic History of the World: From Paleolithic Times to the Present, Oxford-New York, Oxford Univesity Press.
COMPLEMENTARY BIBLIOGRAPHY ALDCROFT, Derek H. & NEAL, Larry (2001): The European Economy 1914-2000, LondonNew York, Routledge. ALLEN, Robert C. (2009): The British Industrial Revolution in Global Perspective, CambridgeNew York, Cambridge University Press. BULMER-THOMAS, Victor (2003): The Economic History of Latin America since Independence, Cambridge-New York, Cambridge University Press. CLARK, Gregory (2007): A Farewell to Alms: A Brief Economic History of the World, Princeton, Princeton University Press. EICHENGREEN, Barry J. (2007): The European Economy since 1945: Coordinated Capitalism and Beyond, Princeton, Princeton University Press. FLOUD, Roderick & McCLOSKEY, Donald (1994): The Economic History of Britain since 1700, volume 1 (1700-1860), Cambridge, Cambridge University Press. HUGHES, Jonathan R.T. & CAIN, Louis P. (2003): American Economic History, Boston, Addison Wesley. JONES, Eric L. (2003): The European Miracle: Environments, Economies, and Geopolitics in the History of Europe and Asia, Cambridge-New York, Cambridge University Press. KENWOOD, A.G. & LOUGHEED, A.L. (1999): The Growth of the International Economy 18202000: An Introductory Text, London-New York, Routledge. LIVI-BACCI, Massimo (2001): A Concise History of World Population, Malden, Mass., Blackwell. MADDISON, Angus (2007): Chinese Economic Performance in the Long Run, Paris, Development Centre of the OECD. MADDISON, Angus (2006): The World Economy, Paris, Development Centre of the OECD. MOKYR, Joel (1990): The Lever of Riches: Technological Creativity and Economic Progress, Oxford-New York, Oxford University Press. MOKYR, Joel (2002): The Gifts of Athena: Historical Origins of the Knowledge Economy, Princeton, Princeton University Press. NORTH, Douglas & THOMAS, Robert (1973): The Rise of the Western World: A New Economic History, Cambridge, Cambridge University Press. POLLARD, Sidney (1982): Peaceful Conquest: The Industrialization of Europe 1760-1970, Oxford-New York, Oxford University Press. VRIES, Jan de (2008) The Industrious Revolution: Consumer Behaviour and the Household Economy, 1650 to the Present, Cambridge-New York, Cambridge University Press.
Faculty of Economics and Business
OTHER RESOURCES Historical statistics: FLORA, Peter (1983), State, Economy, and Society in Western Europe, 1815-1975. A Data Handbook, London, MacMillan. MADDISON, Angus (2001), The World Economy. A Millennial Perspective, Paris, OECD (www.TheWorldEconomy.org). MITCHELL, B.R. (1998-2003), International Historical Statistics: Europe; International Historical Statistics: Africa, Asia and Oceania; International Historical Statistics: The Americas, London,, Macmillan. US BUREAU OF THE CENSUS (1976), Historical Statistics of the United States. Colonial Times to 1976, Washington, US Department of Commerce.
Websites: There is a number of useful yet changing websites, such as www.bbc.net.uk/history, www.historiasiglo20.org, www.spartacus.schoolnet.co.uk or www.yale.edu/lawweb/avalon.