Growth and Development in Long-Run Historical Perspective
| Code | School | Level | Credits | Semesters |
| ECON1019 | Economics | 1 | 10 | Autumn UK |
- Code
- ECON1019
- School
- Economics
- Level
- 1
- Credits
- 10
- Semesters
- Autumn UK
Summary
In this module, we will explore the long-run, historical determinants of the wealth of nations. We will begin by taking a long-run view on modern economic growth, showing how this has led to dramatic changes in the relative wealth of nations over the last 500 years. We will then ask two key questions: why have modern economic growth started in some places rather than others? And while have some countries been able to catch up, while others have not? These investigations will improve our understanding of why are some countries much richer than others, and will give us some important insights on how to promote sustained growth in developing countries. The module draws on a vibrant new literature in economics that looks at comparative development as the outcome of a long historical process, and uses techniques originally developed in economics to improve our understanding of history. Without going into the technical details, the module reviews the main findings of this literature, discusses their implications for modern development experiences, and lays out the main challenges for future research. By providing an historical perspective on growth and development, the module will endow students with a better understanding of contemporary economic issues. It will also give them some exciting examples of how the economic techniques they will learn in later modules can be used to understand the world better.
Target Students
Available to Year 1 Undergraduate students on Economics degree programmes. Not available to Exchange students.
Classes
This module is delivered through a series of lectures and tutorials.
Assessment
- 100% Exam 1 (1-hour): Exam
Assessed by end of autumn semester
Educational Aims
The module aims:To introduce students to the key questions of comparative development, the main recent findings, and future challenges.To create a foundation knowledge allowing students to put current issues in growth and development in historical perspective.To highlight the role of modern economics in understanding history.To suggest students a set of applications for theoretical and empirical methods in economics.This module helps develops the following professional competency: reflection of understanding of material through tutorial questions.Learning Outcomes
- A2 Apply core economic theory and economic reasoning to applied topics.
- B2 Reason logically and work analytically.
- C3 Be familiar with differing approaches to analysing a given economic problem and the history and development of economic ideas.
- C4 Understand the context in which a problem is to be addressed.
- D2 Communicate effectively and clearly in written and oral formats.
- D5 Undertake independent study of a problem or subject.