Updated A.Y. 2017-2018
ECONOMIC HISTORY
University of Rome "Tor Vergata"
Department of Economics and Finance
Department of Management and Law
Academic Year 2017/18
Prof. Giovanni Vecchi
giovanni.vecchi@uniroma2.it
and
Prof. Brian A'Hearn
brian.ahearn@pmb.ox.ac.uk
Teaching Assistant
Giulia Mancini
giulia.mancini@uniroma2.it
COURSE TOPIC
The international economy from the mid-19th century to the present.
ATTENDANCE
Not recorded, but important.
EXAM
All students are required to sit a written examination. The test consists of three questions, and lasts 1.5 hours.
Note that cheating and plagiarism will not be tolerated. In the event that a student is found cheating during the written exam, the student will get a failing grade. The student will need to sit the written exam again, and will be reported to Director of the CdS.
OUTLINE OF THE COURSE
1. The pre-industrial economy and the Malthusian growth model
2. Britain's Industrial Revolution
3. The First Globalization
3.1. International trade and the Ricardian model
3.2. The age of mass migration
3.3. International 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 (1950-1973)
8. From oil shocks to the present day
9. Two Centuries of inequality and poverty around the world
LECTURES AND READINGS
Feb 20 The Malthusian pre-industrial economy (Prof. Vecchi and Prof. A'Hearn)
Readings:
1.A Deaton, A. (2014), The Great Escape, Princeton University Press. (Chapter 2)
1.B Clark, G. (2008), A Farewell to Alms: A Brief Economic History of the World. Princeton University Press. (Chapter 2)
1.C Fouquet, R., and Broadberry, S. (2015), Seven Centuries of European Economic Growth and Decline. Journal of Economic Perspectives, 29(4): 227-44 (not compulsory).
Feb 21 The Great Divergence: institutions (Prof. A'Hearn)
Readings:
2.A Broadberry, S. (2015) "Accounting for the Great Divergence," University of Oxford working paper.
2.B Acemoglu, D., S. Johnson and J. Robinson, (2005), The Rise of Europe: Atlantic Trade, Institutional Change, and Economic Growth. American Economic Review, vol. 95, pp. 546-79.
Feb 22 Britain's Industrial Revolution (Prof. A'Hearn)
Readings:
3.A A'Hearn, B. (2014) "The British industrial revolution in a European mirror", in R. Floud, J. Humphries and P. Johnson (eds.), The Cambridge Economic History of Modern Britain. Vol. I: 1700-1870.
3.B Allen, R.C. (2010), "Why the industrial revolution was British: commerce, induced invention, and the scientific revolution", Economic History Review.
Feb 27 The First Globalization (I - international trade) (Prof. Vecchi)
Readings:
4.A O'Rourke, K. and J.G. Williamson (1999), Globalization and History. The evolution of a nineteenth-century Atlantic economy. Cambridge, Mass.: The MIT Press; Chapter 2
4.B Krugman, P. R., Obstfeld M., and M. Melitz (2014), International Economics: Theory and Policy, 10th Edition, Prentice Hall; Chapter 3 (not compulsory).
4.C Kuznets, S. (1973). Modern economic growth: findings and reflections. The American economic review, 63(3), 247-258. Chicago (not compulsory).
Feb 28 The First Globalization (II - mass migration) (Prof. Vecchi)
Readings:
5.A O'Rourke, K. and J.G. Williamson (1999), Globalization and History. The evolution of a nineteenth-century Atlantic economy. Cambridge, Mass.: The MIT Press; Chapters 7 and 8.
Mar 1 The First Globalization (III - international capital flows) (Prof. Vecchi)
Readings:
6.A O'Rourke, K. and J.G. Williamson (1999), Globalization and History. The evolution of a nineteenth-century Atlantic economy. Cambridge, Mass.: The MIT Press; Chapter 11.
Mar 6 The First Globalization (IV - the Heckscher-Ohlin model) (Prof. Vecchi)
Readings:
7.A O'Rourke, K. and J.G. Williamson (1999), Globalization and History. The evolution of a nineteenth-century Atlantic economy. Cambridge, Mass.: The MIT Press; Chapters 1, 3 and 13.
Mar 7 The First Globalization (V - the international monetary system) (Prof. Vecchi)
Readings:
8.A 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 12.
8.B Krugman, P. R., Obstfeld M., and M. Melitz (2014), International Economics: Theory and Policy, 10th Edition, Prentice Hall; Chapter 19 (not compulsory).
8.C Eichengreen, B. (1996). Globalizing Capital. A History of the International Monetary System. Princeton: Princeton University Press, Ch. 2 ("The Gold Standard"), pp. 7-44.
Mar 8 Gender inequality and women's work throughout history (Dr. Mancini)
Readings:
9.A Blau, F. D., Ferber, M. A., & Winkler, A. E. (2016). The economics of women, men, and work. 7th Edition. New York-Oxford: Oxford University Press, Chapter 2 ("Women and Men: Historical Perspectives").
9.B Goldin, C. (2006). The quiet revolution that transformed women's employment, education, and family. American economic review, 96(2), 1-21.
9.C Costa, D. L. (2000). From Mill Town to Board Room: The Rise of Women's Paid Labor. Journal of Economic Perspectives, 14(4): 101-122 (not compulsory).
9.D Goldin, C., & Olivetti, C. (2013). Shocking labor supply: A reassessment of the role of World War II on women's labor supply. American Economic Review, 103(3), 257-62 (not compulsory).
Mar 13 The War Economy and the Economic Consequences of the Peace (Prof. A'Hearn)
Readings:
10.A Broadberry, S. and M. Harrison (2009), The economics of World War I: an overview. In Broadberry, S. and M. Harrison, eds., The economics of World War I. Cambridge: Cambridge University Press
10.B Feinstein, C.H., P. Temin and G. Toniolo (2008), The World Economy between the World Wars. New York: Oxford University Press, Chapters 1-3, pp. 5-53.
Mar 14 The economy between the World Wars (Prof. A'Hearn)
Readings:
11.A Feinstein, C.H., P. Temin and G. Toniolo (2008), The World Economy between the World Wars. New York: Oxford University Press, Chapters 4-6, pp. 54-124.
11.B Eichengreen, B. (1996). Globalizing Capital. A History of the International Monetary System. Princeton: Princeton University Press, Ch. 3 ("Interwar Instability"), pp. 45-92.
11.C Eichengreen, B (1992). Golden Fetters. The Gold Standard and the Great Depression 1919-1939. Oxford: Oxford University Press, Ch. 8 ("Cracks in the Façade"), pp. 222-57.
Mar 15 The Great Depression (Prof. A'Hearn)
Readings:
12.A Temin, P. (1989). Lessons from the Great Depression. Cambridge Mass.: MIT Press, Ch. 2 ("The Midas Touch: the Spread of the Great Depression"), pp. 41-87 of the paperback ed. of 1991.
12.B Wolf, N. (2010), "Europe's Great Depression: coordination failure after the First World War," Oxford Review of Economic Policy, vol. 26 no. 3, pp. 339-69.
12.C Schnabel, I (2003), "The German Twin Crisis of 1931," Journal of Economic History, vol. 64, no. 3, pp. 822-71 (not compulsory).
12.D Accominotti, O. (2012), "London Merchant Banks, the Central European Panic, and the Sterling Crisis of 1931," Journal of Economic History, vol. 72 no. 1, pp. 1-43 (not compulsory).
Mar 20 The Bretton Woods conference (Prof. Vecchi)
Readings:
13.A Feinstein, C.H., P. Temin and G. Toniolo (2008), The World Economy between the World Wars. New York: Oxford University Press, Chapter 10.
13.B 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 21 The Marshall Plan (Prof. Vecchi)
Readings:
14.A Eichengreen, B. (2006), The European Economy Since 1945. Princeton university Press, Chapter 3.
14.B De Long, J. B., & Eichengreen, B. (1991). The Marshall Plan: History's most successful structural adjustment program (No. w3899). National Bureau of Economic Research.
Mar 22 Europe's Golden Age (1950-1973) (Prof. Vecchi)
Readings:
15.A Toniolo, G. (1998) Europe's golden age, 1950-1973: speculations from a long-run perspective. Economic History Review, LI, 2: 252-67.
15.B Eichengreen, B. (2006), The European Economy Since 1945. Princeton University Press, Chapter 4.
Mar 27 From oil shocks to the present day (I) (Prof. Vecchi)
Readings:
16.A Frieden, J. (2006). Global Capitalism. Its Fall and Rise in the Twentieth Century. Norton, Chapter 16.
16.B Eichengreen, B. (2006), The European Economy Since 1945. Princeton University Press, Chapter 8.
Mar 28 From oil shocks to the present day (II) (Prof. Vecchi)
Readings:
17.A Eichengreen, B. (2006), The European Economy Since 1945. Princeton University Press, Chapters 9 and 10 (not compulsory).
Mar 29 Two Centuries of inequality and poverty around the world (Prof. Vecchi)
Readings:
18.A Bourguignon, F., and Morrisson, C (2002). Inequality Among World Citizens: 1820-1992. American Economic Review, 92(4): 727-744.
18.B Lakner, C., & Milanovic, B. (2016). Global income distribution: From the fall of the Berlin Wall to the Great Recession. The World Bank Economic Review, 30(2), 203-232.
Updated A.Y. 2017-2018
ECONOMIC HISTORY
University of Rome "Tor Vergata"
Department of Economics and Finance
Department of Management and Law
Academic Year 2017/18
Prof. Giovanni Vecchi
giovanni.vecchi@uniroma2.it
and
Prof. Brian A'Hearn
brian.ahearn@pmb.ox.ac.uk
Teaching Assistant
Giulia Mancini
giulia.mancini@uniroma2.it
COURSE TOPIC
The international economy from the mid-19th century to the present.
ATTENDANCE
Not recorded, but important.
EXAM
All students are required to sit a written examination. The test consists of three questions, and lasts 1.5 hours.
Note that cheating and plagiarism will not be tolerated. In the event that a student is found cheating during the written exam, the student will get a failing grade. The student will need to sit the written exam again, and will be reported to Director of the CdS.
OUTLINE OF THE COURSE
1. The pre-industrial economy and the Malthusian growth model
2. Britain's Industrial Revolution
3. The First Globalization
3.1. International trade and the Ricardian model
3.2. The age of mass migration
3.3. International 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 (1950-1973)
8. From oil shocks to the present day
9. Two Centuries of inequality and poverty around the world
LECTURES AND READINGS
Feb 20 The Malthusian pre-industrial economy (Prof. Vecchi and Prof. A'Hearn)
Readings:
1.A Deaton, A. (2014), The Great Escape, Princeton University Press. (Chapter 2)
1.B Clark, G. (2008), A Farewell to Alms: A Brief Economic History of the World. Princeton University Press. (Chapter 2)
1.C Fouquet, R., and Broadberry, S. (2015), Seven Centuries of European Economic Growth and Decline. Journal of Economic Perspectives, 29(4): 227-44 (not compulsory).
Feb 21 The Great Divergence: institutions (Prof. A'Hearn)
Readings:
2.A Broadberry, S. (2015) "Accounting for the Great Divergence," University of Oxford working paper.
2.B Acemoglu, D., S. Johnson and J. Robinson, (2005), The Rise of Europe: Atlantic Trade, Institutional Change, and Economic Growth. American Economic Review, vol. 95, pp. 546-79.
Feb 22 Britain's Industrial Revolution (Prof. A'Hearn)
Readings:
3.A A'Hearn, B. (2014) "The British industrial revolution in a European mirror", in R. Floud, J. Humphries and P. Johnson (eds.), The Cambridge Economic History of Modern Britain. Vol. I: 1700-1870.
3.B Allen, R.C. (2010), "Why the industrial revolution was British: commerce, induced invention, and the scientific revolution", Economic History Review.
Feb 27 The First Globalization (I - international trade) (Prof. Vecchi)
Readings:
4.A O'Rourke, K. and J.G. Williamson (1999), Globalization and History. The evolution of a nineteenth-century Atlantic economy. Cambridge, Mass.: The MIT Press; Chapter 2
4.B Krugman, P. R., Obstfeld M., and M. Melitz (2014), International Economics: Theory and Policy, 10th Edition, Prentice Hall; Chapter 3 (not compulsory).
4.C Kuznets, S. (1973). Modern economic growth: findings and reflections. The American economic review, 63(3), 247-258. Chicago (not compulsory).
Feb 28 The First Globalization (II - mass migration) (Prof. Vecchi)
Readings:
5.A O'Rourke, K. and J.G. Williamson (1999), Globalization and History. The evolution of a nineteenth-century Atlantic economy. Cambridge, Mass.: The MIT Press; Chapters 7 and 8.
Mar 1 The First Globalization (III - international capital flows) (Prof. Vecchi)
Readings:
6.A O'Rourke, K. and J.G. Williamson (1999), Globalization and History. The evolution of a nineteenth-century Atlantic economy. Cambridge, Mass.: The MIT Press; Chapter 11.
Mar 6 The First Globalization (IV - the Heckscher-Ohlin model) (Prof. Vecchi)
Readings:
7.A O'Rourke, K. and J.G. Williamson (1999), Globalization and History. The evolution of a nineteenth-century Atlantic economy. Cambridge, Mass.: The MIT Press; Chapters 1, 3 and 13.
Mar 7 The First Globalization (V - the international monetary system) (Prof. Vecchi)
Readings:
8.A 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 12.
8.B Krugman, P. R., Obstfeld M., and M. Melitz (2014), International Economics: Theory and Policy, 10th Edition, Prentice Hall; Chapter 19 (not compulsory).
8.C Eichengreen, B. (1996). Globalizing Capital. A History of the International Monetary System. Princeton: Princeton University Press, Ch. 2 ("The Gold Standard"), pp. 7-44.
Mar 8 Gender inequality and women's work throughout history (Dr. Mancini)
Readings:
9.A Blau, F. D., Ferber, M. A., & Winkler, A. E. (2016). The economics of women, men, and work. 7th Edition. New York-Oxford: Oxford University Press, Chapter 2 ("Women and Men: Historical Perspectives").
9.B Goldin, C. (2006). The quiet revolution that transformed women's employment, education, and family. American economic review, 96(2), 1-21.
9.C Costa, D. L. (2000). From Mill Town to Board Room: The Rise of Women's Paid Labor. Journal of Economic Perspectives, 14(4): 101-122 (not compulsory).
9.D Goldin, C., & Olivetti, C. (2013). Shocking labor supply: A reassessment of the role of World War II on women's labor supply. American Economic Review, 103(3), 257-62 (not compulsory).
Mar 13 The War Economy and the Economic Consequences of the Peace (Prof. A'Hearn)
Readings:
10.A Broadberry, S. and M. Harrison (2009), The economics of World War I: an overview. In Broadberry, S. and M. Harrison, eds., The economics of World War I. Cambridge: Cambridge University Press
10.B Feinstein, C.H., P. Temin and G. Toniolo (2008), The World Economy between the World Wars. New York: Oxford University Press, Chapters 1-3, pp. 5-53.
Mar 14 The economy between the World Wars (Prof. A'Hearn)
Readings:
11.A Feinstein, C.H., P. Temin and G. Toniolo (2008), The World Economy between the World Wars. New York: Oxford University Press, Chapters 4-6, pp. 54-124.
11.B Eichengreen, B. (1996). Globalizing Capital. A History of the International Monetary System. Princeton: Princeton University Press, Ch. 3 ("Interwar Instability"), pp. 45-92.
11.C Eichengreen, B (1992). Golden Fetters. The Gold Standard and the Great Depression 1919-1939. Oxford: Oxford University Press, Ch. 8 ("Cracks in the Façade"), pp. 222-57.
Mar 15 The Great Depression (Prof. A'Hearn)
Readings:
12.A Temin, P. (1989). Lessons from the Great Depression. Cambridge Mass.: MIT Press, Ch. 2 ("The Midas Touch: the Spread of the Great Depression"), pp. 41-87 of the paperback ed. of 1991.
12.B Wolf, N. (2010), "Europe's Great Depression: coordination failure after the First World War," Oxford Review of Economic Policy, vol. 26 no. 3, pp. 339-69.
12.C Schnabel, I (2003), "The German Twin Crisis of 1931," Journal of Economic History, vol. 64, no. 3, pp. 822-71 (not compulsory).
12.D Accominotti, O. (2012), "London Merchant Banks, the Central European Panic, and the Sterling Crisis of 1931," Journal of Economic History, vol. 72 no. 1, pp. 1-43 (not compulsory).
Mar 20 The Bretton Woods conference (Prof. Vecchi)
Readings:
13.A Feinstein, C.H., P. Temin and G. Toniolo (2008), The World Economy between the World Wars. New York: Oxford University Press, Chapter 10.
13.B 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 21 The Marshall Plan (Prof. Vecchi)
Readings:
14.A Eichengreen, B. (2006), The European Economy Since 1945. Princeton university Press, Chapter 3.
14.B De Long, J. B., & Eichengreen, B. (1991). The Marshall Plan: History's most successful structural adjustment program (No. w3899). National Bureau of Economic Research.
Mar 22 Europe's Golden Age (1950-1973) (Prof. Vecchi)
Readings:
15.A Toniolo, G. (1998) Europe's golden age, 1950-1973: speculations from a long-run perspective. Economic History Review, LI, 2: 252-67.
15.B Eichengreen, B. (2006), The European Economy Since 1945. Princeton University Press, Chapter 4.
Mar 27 From oil shocks to the present day (I) (Prof. Vecchi)
Readings:
16.A Frieden, J. (2006). Global Capitalism. Its Fall and Rise in the Twentieth Century. Norton, Chapter 16.
16.B Eichengreen, B. (2006), The European Economy Since 1945. Princeton University Press, Chapter 8.
Mar 28 From oil shocks to the present day (II) (Prof. Vecchi)
Readings:
17.A Eichengreen, B. (2006), The European Economy Since 1945. Princeton University Press, Chapters 9 and 10 (not compulsory).
Mar 29 Two Centuries of inequality and poverty around the world (Prof. Vecchi)
Readings:
18.A Bourguignon, F., and Morrisson, C (2002). Inequality Among World Citizens: 1820-1992. American Economic Review, 92(4): 727-744.
18.B Lakner, C., & Milanovic, B. (2016). Global income distribution: From the fall of the Berlin Wall to the Great Recession. The World Bank Economic Review, 30(2), 203-232.
