OUTLINE FOR EACH TOPIC

1. Introduction and Long-Run Growth

Living standards in the very long run Conceptual problems of measuring changes in living standards Population and living standards Growth accounting

2. Institutions: Making Markets Work or Rent Seeking?

What are institutions? Why are they important? When do they change? Examples: a.Craft guilds b. The Mesta c.Labor institutions: slavery, serfdom and wage labor

3. Europe and the Great Divergence, 1492-1815

The First Great Divergence New Trade and the Price Revolution Trade flows and mercantilism Economic and political consequences of colonial trade for Europe The limits of globalisation in the early modern world

4. Britain and the Industrial Revolution

What was the Industrial Revolution? Agriculture Cities and the integration of the domestic market Technology Trade (see previous topic) TFP Living standards An industrious economy?

5. The Global Economy, 1815-1914

Labor migrations International capital flows Trade

6. U.S. and the Second Industrial Revolution

Explain the principal characteristics of industrialization in the US before 1940. Industrial development in the US can be explained before the Second World War simply by the natural resource abundance. Discuss. What was the nature of American resource abundance and economic growth between 1870 and 1930? What was the nature of UK technological change during the Industrial Revolution?

7. The Americas: natural resources, institutions and growth

The natural resources (precious metals; crop choice) determines the nature of land settlement Land settlement will determine the institutional structure Institutional structure will determine long-run growth I.e. settlement decisions in the 16th & 17th centuries will have a major impact on growth & income distribution in the 20th & 21st centuries

8. The First World War and the 1930s Crisis

Characteristics of the period 1913-1950: Churchill Europes 2nd Thirty Year War Slowdown in economic activity (more Europe than US); GDP per capita International trade declines in real terms High & structural unemployment (new experience) Growth in labour productivity, human capital & technological change

9. Big-Push Industrialization and the Soviet Union

1920s more like Asia, Middle East and Latin America than Germany or US Soviet Union provided an alternative vision of development for 3rd World Countries Grew rapidly, especially when planning system was working well between 1928-1970

10. The Golden Age of Economic Growth

11. Why did Economic Growth slow after 1973?

12. China and the 21st Century