Econ 4524: Economic History of the United States
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In his travels to the United States in the 1830s, Alexis de Tocqueville noted the equality of conditions that existed relative to the Old World. The historical record suggests that equality of conditions has not always been a feature of the American economic landscape. This contrasts with the experience with economic growth, which has been sustained (with a few exceptions) over the last more than 200 years.
In the context of Tocqueville's Democracy in America, we will consider the evidence for his observations through the middle of the nineteenth century and whether his projections survived the advent of industrial capitalism and structural changes in the American and global economies. We will cover the application of economic methodologies, including theories of growth and analysis of data, to understand economic and institutional change from the American Revolution through the Civil War, the emergence of the modern economy, and periods of crisis in American history (e.g., the Great Depression and World War II). We will consider the benefits and consequences of growth for different social groups as well as reasons for optimism or pessimism about the future of growth and inequality.
All materials (lectures, required readings, etc) will be available on this page. You should complete readings before we cover the topic in class. I recommend A New Economic View of American History from Colonial Times to 1940 by Jeremy Atack and Peter Passell to learn more about US economic history.
★ required 🎶 audio/podcast • supplementary
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.
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.
Find and describe a government document related to US economic history in Norlin Library. Provide evidence that you came into physical contact with the document, describe it, and discuss why it is useful for understanding an aspect of US economic history.
Propose a question or hypothesis and then use the Historical Statistics of the United States to answer the question or test the hypothesis. Download a data series, construct a figure or table, and discuss how it addresses your question or hypothesis.
One in-class midterm exam and a final exam on the date and time set by the University. All exams are cumulative.
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.