AØKA08214U Summerschool 2016: The Economic History of Europe
BSc in Economics
MSc in Economics
This comprehensive course offers theoretical and historical
insights into the evolution of Europe. We start by tracing the
continent’s emergence from being a technological and economic
backwater at the end of the first millennium to being able to match
the advanced Muslim and Chinese civilizations around 1500. We
continue by following the economic advances as Europe forged ahead,
becoming the leader of the Industrial Revolution and the source of
numerous technological innovations, which were diffused
internationally through trade and colonial domination, but with
varying impact on the rest of the world. It is shown that Europe
was unique in fostering a mentality of rational inquiry into the
laws of nature which led to an industrial enlightenment. A special
focus will be on the last 200 years of dramatic economic
development, when a remarkable increase in income has been
accompanied by recurrent crises and increased world inequality but
decreasing domestic inequality. This has generated a variety of
responses such as the modern macroeconomic stabilization policies,
the Welfare State, and attempts to tame the disruptive impact
of financial turbulence and unemployment. Although the last 150
years have been a period of remarkable growth, they have also been
a period of recurrent crises which require explanation.
Lecture Plan
1. The making of Europe. How Europe developed into an integrated economic region with intensive trade and cultural similarities across the continent despite endemic political and military conflicts. (Chapter 1)
2. The secrets of pre-industrial growth. Gains from specialization through division of labour before the Industrial Revolution. The restoration of monetary order and international trade. The first general purpose technology at work: water and wind mills. (Chapter 2)
3. The dynamics of population growth. Thomas Malthus versus Adam Smith. The exceptional family planning practiced in Europe (before the pill) which helped the continent escape poverty. (Chapter 3)
4. When and why Europe took the lead. Slow but persistent growth in Europe allowed the continent to forge ahead several centuries before the Industrial Revolution. How to measure economic growth in poorly documented economies. Was the Industrial Revolution really a Revolution? (Chapter 4 and section 1 in chapter 6)
5. Firms, farms and co-operatives. The institutional diversity in economic progress with a special focus on the advantages of co-operative enterprises in Scandinavia. (Chapter 5)
6. Historical foundations of modern economic growth. Science and technological catch-up. Why are some nations pioneers and others late-comers in the modernization process? (Chapter 6)
7. The origin and development of money and banks. The anatomy of banking crises and why we have to live with them. (Chapter 7)
8. Trade, tariffs and growth. The
evolution of the comparative advantage argument for free trade. How
trade policy affects growth. What does the historical record teach
us about the wisdom of adopting protectionist measures? (Chapter 8)
9. International monetary systems in history. Why an international monetary system is necessary. The policy choices available to an open economy. The history of international monetary regimes. The Eurozone crisis in historical perspective. (Chapter 9)
10. From the minimal state to the Welfare State in the 20th century. Economic policy, inflation and unemployment. Do austerity policies work: a comparison between the interwar period (1919-1939) and the present crises in the European Union. (Chapter 10)
11. Trends in inequality between and within nations. We trace inequality from the Roman era to the present. Has the trend towards increasing equality within nations been broken and what is happening to world inequality? (Chapter 11)
12. Globalization is not new! What globalization does to your welfare and the welfare of poor nations. Welfare effects of trade and foreign investments. (Chapter 12)
The ambitious student will be able to:
- Understand the difference between the forces at work in the pre-industrial era when division of labour and trade were major factors in economic development and science based technological progress in the modern era
- Evaluate the impact of the constraints of resources to economic growth and the determinants of population growth in the pre-industrial as well as the modern era
- Understand the institutional preconditions for transfer of knowledge and convergence of income levels across nations in Europe
- Understand the mechanisms and workings of international monetary orders such as the Gold Standard, the Bretton Woods system and the Euro
- Understand the forces which shape trade policies (free trade vs. protectionism) and know the general outline of the phases of trade regimes during the last 200 years
- Understand the role and impact of Europe in a global economy
- Work with and process historical time series such as wage, price, population data
- Read and report from scholarly journal articles
Syllabus
Karl Gunnar Persson and Paul Sharp, An Economic History of Europe: Knowledge, Institutions and Growth, 600 to the Present, Cambridge University Press, 2nd revised edition, 2015 (available in paperback).
Plus a selection of journal articles relevant to the subject which will be available online for participating students. Total reading load: ca. 500 pages.
To see the time and location of classroom please press the link under "Se skema" (See schedule) at the right side of this page.
You can find the similar information partly in English at
https://skema.ku.dk/ku1516/uk/module.htm
-Select Department: “2200-Økonomisk Institut” (and wait for respond)
-Select Module:: “2200-B5-5F16; [Name of course]””
-Select Report Type: List
-Select Period: “Forår/Spring – Weeks 4-29”
Press: “ View Timetable”
- Category
- Hours
- Exam
- 24
- Exercises
- 8
- Lectures
- 24
- Preparation
- 142
- Seminar
- 8
- Total
- 206
for enrolled students. More information about registration, schedule, rules, courses etc. can be found at the student intranet (KUnet) for courses (MA-English) and student intranet (KUnet) for courses (KA-Danish) or student intranet (KUnet) for courses (BA- Danish).
Registration and information for prospective foreign speaking students please find more information at Study Economics.
For dansktalende enkelfagsstuderende se Åbent Universitet og Merit.
- Credit
- 7,5 ECTS
- Type of assessment
- Written examination, 24 hoursThe exam is a 24 hour take home assignement. The exam assignment is given in English and can be answered in English or in Danish. Language must be chosen at the course registration.
- Aid
- Only certain aids allowed
Textbook and additional material (journal articles etc.)
- Marking scale
- 7-point grading scale
- Censorship form
- External censorship
100 % censorship
- Exam period
The take- home exam takes place the 23.th of July from 10.00 to 24.th of July at 10.00.
For enrolled students more information about examination, exam/re-sit, rules etc. is available at the student intranet for Examination (English) and student intranet for Examination (BA-Danish).
- Re-exam
Same as the ordinary exam.
If only a few students have registered for the re-exam, the exam might change to an oral exam including the date for the exam, which will be informed by the Examination Office.
Criteria for exam assesment
The student must in a satisfactory way demonstrate that he/she has mastered the learning outcome of the course.
Course information
- Language
- English
- Course code
- AØKA08214U
- Credit
- 7,5 ECTS
- Level
- Full Degree MasterBachelor
- Duration
- 1 block
- Placement
- Summer
- Schedule
- July 11 to July 24, 2016
- Teaching July 11 to 22, 10-17 hrs
- Writing assignment July 23-24 - Course capacity
- 40
- Continuing and further education
- Price
- Study board
- Department of Economics, Study Council
Contracting department
- Department of Economics
Course responsibles
- Karl Gunnar Persson (18-796f807a75837c7c6f803c7e738081817d7c4e73717d7c3c79833c7279)
- Paul Richard Sharp (18-7e6f837a3c807771766f80723c81766f807e4e73717d7c3c79833c7279)