World Economic History

This subject provides an introduction to the development of economic activity and material well-being in the world since the year 1000 A.D. The main objectives are to present an overview of the main phases and episodes in the evolution of the world economy, and to develop an understanding of the role of factors such as geography, institutions, technological change and culture in explaining economic development. Topics to be covered include: Measuring economic development and main patterns of growth; The Malthusian economy; The rise and decline of the Islamic world; The economic consequences of the Black Death and of the Mongol invasions; The shift in economic and geopolitical power from the Mediterranean to the Atlantic; European colonial expansion and the rise of trading economies; The Industrial Revolution; The rise of settler economies (including Australia); The Great Depression; World Wars and economic activity; The main eras of globalization in the world economy; The Great Divergence.