Econ 4514: European Economic History

Emergence of the Modern Economy

Europe was the first place to experience modern economic growth. A variety of explanations
have been proposed for the transformation of Europe over the last 2,000 years. This course
evaluates these explanations from the fall of the Roman Empire to the rise of the European Union.

About This Course

The European continent was the first place to experience modern economic growth. The resulting transformation, covering the period from 1000 to the present, began one of the most important and ongoing processes in world history, and one with far-reaching impacts for economic development and political union. The first part of this course focuses on the preconditions for growth, including the institutional and technological determinants of Europe's divergence from the rest of the world. The second part examines Europe's role in the integration of the global economy starting with the Industrial Revolution and ending with World War I. The final part considers the forces behind the economic and political catastrophes of the 1930s and 1940s, political and economic integration during the postwar period, and more recent changes in the European Union.

Economic Theory

Apply economic theory to analyze historical events and institutional change.

Historical Data

Use historical data to evaluate causal arguments about growth and development.

Growth & Politics

Examine the relationship between economic growth and political development.

Contemporary Context

Put contemporary challenges facing European countries in historical context.

All materials (lectures, required readings, etc) will be available on this page. You should complete readings before we cover the topic in class. The books An Economic History of Europe by Karl Gunnar Persson and Paul Sharp and The European Economy since 1945 by Barry Eichengreen are required.

Course Outline

★ required reading 📖 book recommendation • supplementary

Economic Growth in the Very Long Run

Week 1

The Economy of the Ancient World

Week 2

Political Instability in Medieval Times

Week 3
  • Persson & Sharp, An Economic History of Europe, chapter 2
  • Wickham, The Inheritance of Rome

Disease, the Black Death and the Renaissance

Week 4

Institutions, Legitimacy and Economic Development

Week 5
  • Persson & Sharp, An Economic History of Europe, chapter 5
  • Rubin, Rulers, Religion, and Riches

The Enlightenment, Science, and Useful Ideas

Week 6
  • Persson & Sharp, An Economic History of Europe, chapter 6
  • Mokyr, The Culture of Growth

The Industrial Revolution

Weeks 7–8

Globalization and Empire

Week 9

World War I

Week 10

Interwar Macroeconomics

Week 11

World War II

Week 12

The Postwar Golden Age

Week 13
  • Eichengreen, The European Economy since 1945, chapters 3 and 4
  • Offer, The Challenge of Affluence

The European Union

Week 14

The End of History

Week 15
  • Persson & Sharp, An Economic History of Europe, chapter 12
  • Eichengreen, The European Economy since 1945, chapter 12
  • Fukuyama, The End of History

Grading

Attendance (Required)

Missing more than three classes will result in a full letter grade reduction of your final grade (e.g., an "A" becomes a "B"). Each additional three classes missed will result in a further letter grade reduction.

Literature Review (10%)

Find a research article published in the Journal of Economic History, Explorations in Economic History, or Economic History Review for each topic. Identify a table or figure from the article, give a brief description, and provide a proper citation.

Book Review (15%)

Write a short in-class essay on an approved book related to one of the course topics. You must provide evidence that you came into physical contact with the book. The in-class essay will take the form of a review summarizing the thesis and analyzing a key empirical claim.

Analysis (15%)

Propose a question or hypothesis and then use data (e.g., Maddison Project Database, Penn World Table) to answer the question or test the hypothesis. Download a data series, construct a figure or table, and discuss how it is useful for addressing your question or hypothesis.

Exams (60%: 25% Midterm + 35% Final)

One in-class midterm exam and a final exam on the date and time set by the University. All exams are cumulative.

Office Hours & Email

I encourage you to attend office hours or to set up a time to meet outside of office hours. You should come to office hours prepared with questions or ready to discuss course material. Office hours are the appropriate forum for addressing questions about course material or policies. Use email to set up a time to meet outside of office hours, if necessary.