Economic History

Code:

1EC108

Acronym:

HES

Keywords
Classification	Keyword
OFICIAL	Social Science

Instance: 2024/2025 - 2S

Active?	Yes
Responsible unit:	Secção Autónoma de Ciências Sociais
Course/CS Responsible:	Bachelor in Economics

Cycles of Study/Courses

Acronym	No. of Students	Study Plan	Curricular Years	Credits UCN	Credits ECTS	Contact hours	Total Time
LECO	379	Bologna Syllabus since 2012	1	-	6	42	162

Teaching language

Suitable for English-speaking students

Objectives

Economic and Social History is designed to give future economists structured knowledge on the growth trajectory of the leading  world economies  since  the XVII century up to the present time.

The Course Unit aims to stimulate argumentation, critical reading, synthesis skills, interpretation of indicators, and broaden students' economic culture. The program provides students with the opportunity to understand, in a concrete context, some of the topics covered in other subjects.

Learning outcomes and competences

Students are expected to grasp the historical background of the main economic issues in today's world. In this Course Unit students are expected to develop their oral and  writing skills, reasoning and critical thinking.

Working method

Presencial

Pre-requirements (prior knowledge) and co-requirements (common knowledge)

None.

Program

PART I


1.  Introduction: When, why and how is the World Rich? 

2. The causes of sustained economic growth and Great Divergence (17th to 19th centuries)

2.1. The Industrial Revolution
2.2.  The Industrious Revolution
2.3. Institutions
2.4. The Great Divergence


PART II


3. The phases of e economic growth since 1800

4. The Liberal phase (1820-1914) 
4.1. The Liberal Order
4.2. Globalization 1.0

5. The Beggar-thy-Neighbour Phase (1914-50)
5.1. Deglobalization1.0
5.2. The Great Depression

6. The Golden Age (1950-73)
6.1. Capitalism Redux
6.2. Globalization 2.0
6.3. The European Economic Miracle

7. The Neoliberal Phase (1973-...)
7.1. Policy Dilemmas
7.2. Globalization 3.0 and the end of Great Divergence

8. A new phase?
8.1. The Great Recession 
8.2. Sustainable growth?

Mandatory literature

MarK Koyama; How the world became rich. ISBN: 978-1-509-54023-5
Karl Gunnar Persson and Paul Sharp; An Economic History of Europe , Cambridge University Press, 2015
Broadberry, Stephen N. 340; The Cambridge economic history of modern Europe
Quinn, W. e Turner, J.D. ; Boom and Bust: A Global History of Financial Bubbles, Cambridge University Press, 2022
Eichengreen, Barry J.; Hall of mirrors. ISBN: 978-0-19-939200-1
Allen, R. ; Backward into the future: The shift to coal and implications for the next energy transition, Energy Policy, 50,17-23, 2012

Complementary Bibliography

Robert C. Allen; The british industrial revolution in global perspective. ISBN: 978-0-521-68785-0
Allen, Robert C.; The Industrial Revolution in Miniature, The Journal of Economic History, 69-04, 2009, pp 901-927, 2009
De Vries, Jan; The Industrious Revolution: Consumer Behavior and the Household Economy, 1650 to the Present, Cambridge University Press, 2008. ISBN: 978-0-521-71925-4
FOUQUET, Roger; BROADBERRY, Stephen; Seven centuries of European economic growth and decline, Journal of Economic Perspectives, 2015, 29.4: 227-44., 2015
Maddison, Angus; Dynamic forces in capitalist development. ISBN: 0-19-828398-9 pbk
Maddison, A.; “Fluctuations in the momentum of growth within the capitalist epoch”, Cliometrica, 1, pp. 145-175., 2007
Barry J. Eichengreen; The^european economy since 1945. ISBN: 978-0-691-13848-0
Gregory Clark; Um^adeus às esmolas. ISBN: 978-972-53-0400-6
Stephen N. Broadberry; The Cambridge economic history of the modern world. ISBN: 978-1-108-95377-1
Oded Galor; A jornada da humanidade. ISBN: 978-989-23-5396-8
Henriques, A e Palma, N. ; Comparative European Institutions and Little Divergence 1385-1800, Journal of Economic Growth, 2023. ISBN: https://doi.org/10.1007/s10887-022-09213-5

Comments from the literature

The relevants sections of the texts included in the Bibliography will be available to students in Moodle

Teaching methods and learning activities

The classe combines lectures and active participation by the students. Students participate in the debates brought by the lecturer to the classes and do small in-class assignments either in group or individually.

Evaluation Type

Distributed evaluation without final exam

Assessment Components

Designation	Weight (%)
Teste	100,00
Total:	100,00

Amount of time allocated to each course unit

Designation	Time (hours)
Estudo autónomo	123,00
Frequência das aulas	39,00
Total:	162,00

Eligibility for exams

The student must be registered in one class group if Assessment Option A is chosen. 
We encourage attendance, as it proves helpful for students throughout this course.

Calculation formula of final grade

There are only two assessment methods:

A. Two tests. The final grade is the weighted average of the tests. The first weights 35% of the final grade and the second 65%. 
 Each test will focus on separate items of the course outline. The first test (T1) covers Part I. The second test (T2) covers Part II. 

Grade = (T1*0.35) + (T2*0.65) + bonus

It will be given a grade point to every student who completes at least 75% of  in- class assignments and has a Grade T1*0.35+ Grade T2*0.65 < 20 (rounded).

B. Final exam only. The final grade is equal to that obtained in a written exam at the end of the semester. The bonus obtained in A can be added if the student completed 75% of in-class assignments and has an Exam Grade < 20 (rounded).

Grade = Exam + bonus.

Important Notes: 

1. Students will pass if they get a final grade equal or above 9.5 points out of 20
2.  A student will pass if they get a final grade equal or above 9.5 points out of 20, provided that they get a grade equal or above 7.0 points out of 20 in each one of the two tests. In other words, students will fail if they get a grade less than 7.0 points out of 20 in any of the two tests, even if the simple arithmetic average of the grades of the two tests is equal or above 9.5 points out of 20.
3. Students can use the bonus in the Appeal Season of the School Year where it was obtained, both for approval or grade improvement.
4. The student must be registered in one class if the assessment option A is chosen. 
5. The student must be registered in the English-speaking group class if he/she wishes to be assessed in this language.

Special assessment (TE, DA, ...)

In accordance with prevailing rules. 

Classification improvement

Students can use bonus from A in the Appeal Season of the School Year in which the bonus was attained, and Grade = Exam+bonus, if Exam Grade < 20 ( rounded). Other situations in accordance with prevailing rules.

Observations

The use of mobile devices, smartwatches and notes are prohibited during tests and exams.
In order to complete in-class assignments, students must be present during all the class and bring mobile phone or other electronic devices to class. Sharing logins to other students not in class is forbidden.
Any academic fraud detected in any assessment component will be punished according to the rules followed by the Faculty.