1 Course European Economic History Type of course Core Course Degree Program Master of Science in European Economy and Business Law-LM90 Year First Semester II Semester -Part I Credits 6 Pre-requisites None Lecturer Giovanni Vecchi Department Economia Diritto e Istituzioni Room P2 S44 Phone / Office Hours by appointment Link to curriculum Subject learning objectives Knowledge and Understanding: --introduction to the economic history of Europe from mid-19 th century to date; --introduction to the methods of quantitative economic history together with a review of some major findings of historical research of interest to economists. Applying Knowledge and Understanding: --the course develops a sense both of how historical research can be used to inform current economic policy debates and of how economics can be used to improve the interpretation of history. Making Judgements: --by means of the more recent contributions in the field, students could acquire ability and tools in understanding, on a scientific basis, the fundamentals of long run economic growth of Europe beyond conventional wisdom. Communication Skills: --the course aims to develop the capacity to communicate one s knowledge and arguments in a coherent and comprehensible manner. Learning Skills: --understanding and comprehending of the European economic growth in a historical perspective by using quantitative tools. Using historical research in order to understand and contribute to the debate about recent economic facts. Programme 1. The pre-industrial economy and the Malthusian growth mode 2. Britain s Industrial Revolution 3. The First Globalization 3.1. International trade and the Ricardian model
2 3.2. The Age of Mass Migration 3.3. Capital flows 3.4. The Heckscher-Ohlin model 3.5. The International Monetary System 4. WWI The War Economy and the Economic Consequences of the Peace 5. The International Economy between the WW: the Great Depression 6. WWII: Bretton Woods and the Marshall plan 7. Europe s Golden Age ( ) Course materials 8. Two Centuries of Inequality and Poverty Around the World Feb 17 - The pre-industrial economy and the Malthusian growth model 1. Deaton, A. (2014), The Great Escape, Princeton University Press. (Chapter 2) 2. Clark, G. (2008), A Farewell to Alms: A Brief Economic History of the World. Princeton University Press. (Chapter 2) Feb 19 - Invited lecture I: Prof. Alessandro Nuvolari (Scuola Superiore S.Anna) - Britain s Industrial Revolution 3. Landes, D. (2003), The Unbound Prometheus, Cambridge University Press. (Chapter 2) 4. Allen, R.C. (2010), Why the industrial revolution was British: commerce, induced invention, and the scientific revolution, Economic History Review. Feb 23 - The first globalization (I International trade) 5. O Rourke, K. and J.G. Williamson (1999), Globalization and Cambridge, Mass.: The MIT Press; Chapter 2 6. Krugman, P. R., Obstfeld M., and M. Melitz (2014), International Economics: Theory and Policy, 10th Edition, Prentice Hall; Chapter 3 (not compulsory)
3 Feb 24 - The First Globalization (II Mass Migration and Capital Flows) 7. O Rourke, K. and J.G. Williamson (1999), Globalization and Cambridge, Mass.: The MIT Press; Chapters 6 and 11 Feb 27 - Invited lecture II: Prof. Emanuele Felice (U. Autonoma Barcellona) - GDP and convergence in modern times 8. E. Felice (2014), GDP and convergence in modern time, AFC WP, 1. Mar 2 - The First Globalization (III The Heckscher-Ohlin Model) 9. O Rourke, K. and J.G. Williamson (1999), Globalization and Cambridge, Mass.: The MIT Press; Chapters 1, 3 and 13. Mar 3 - The First Globalization (IV The International Monetary System) 10. Cameron, R. and L. Neal (2002), A Concise Economic History of the World, From Paleolithic Times to the Present. New York: Oxford University Press, Chapter Krugman, P. R., Obstfeld M., and M. Melitz (2014), International Economics: Theory and Policy, 10th Edition, Prentice Hall; Chapter 19 Mar 5 - Invited lecture III: Prof. Michelangelo Vasta (U. Siena) - National Innovation system in historical perspective: the Italian case 12. Nuvolari, A. and M. Vasta (2012), The Ghost in the Attic? The Italian National Innovation System in Historical Perspective, , Quaderni del dipartimento di Economia Politica e Statistica
4 dell'università di Siena. Mar 9 - The War Economy and the Economic Consequences of the Peace 13. Feinstein, C.H., P. Temin and G. Toniolo (2008), The World Press, Chapters 1 and 2 Mar 10 - The economy between the World Wars and the Great Depression 14. Feinstein, C.H., P. Temin and G. Toniolo (2008), The World Press, Chapters 3, 4 and Keynes, J.M. (1930), The Economic Possibilities for Our Grandchildren in Essays in Persuasion. (Ed. 1963), Norton. Mar 12 - Invited lecture IV: Prof. Andrea Colli (U. Bocconi) - On Business History: A Primer 16. Y. Cassis, Big Business, in G. Jones and J. Zeitlin, The Oxford Handbook of Business History, pp. 171 ss. Mar 16 - The Bretton Woods conference and the Marshall Plan 17. Feinstein, C.H., P. Temin and G. Toniolo (2008), The World Press, Chapter Cameron, R. and L. Neal (2002), A Concise Economic History of the World, From Paleolithic Times to the Present. New York: Oxford University Press, Chapter 15 Mar 17 - Europe s Golden Age ( )
5 19. Toniolo, G. (1998) Europe s golden age, : speculations from a long-run perspective,economic History Review, LI, 2: Mar 19 - Invited lecture V: Prof. Gianni Toniolo (LUISS and Duke University) - Europe in History 20. TBA. Apr 2 - Two Centuries of Inequality and Poverty Around the World 21. Bourguignon. F. and C. Morrisson Inequality Among World Citizens: , in American Economic Review, 92, 4, pp Teaching Methods Assessment objectives and subject learning outcomes Teaching method Lectures and class discussion. Learning method Class attendance, participation in discussion, reading the material provided. The course has a final written examination, in accordance with the Faculty s rules.