EC120 week 01, topic 0, slide 0 EC120 The World Economy in Historical Perspective What you should expect –What’s EC120 about? –Learning objectives –Outline of topics covered –Lectures and classes –Resources –Books and other reading materials What’s expected of you –Assessment –What are your goals for the module?

EC120 week 01, topic 0, slide 1 What’s EC120 about? Coverage: global impact of European expansion from c1500, in the context of even longer term change, with the objective: To learn how the world economy came to be the way it is now –Different interpretations of what happened and why –Apply economic reasoning to analyse historical events Identify the patterns of change –Long-term trends with many short-term fluctuations in economic well-being –Role of economic institutions: how and why they change Themes: –Long term economic growth: how, why, limitations –Trade and Growth, a unifying theme

Learning objectives Apart from gaining a knowledge of historical events, you should expect to: Learn how to explain and present economic ideas, and assess economic arguments Gain practice in research: exploring relevant source literature Develop skill in clear, logically coherent, precise writing: –designing, organising, preparing and writing academic papers (excluding waffle and journalistic exaggeration) EC120 week 01, topic 0, slide 2

EC120 week 01, topic 0, slide 3 Outline of topics covered The early modern era (c1500 – c1760): –Europe versus Asia (focus on China, India, Ottoman Empire) –Europe’s overseas expansion: trade, commerce, finance The onset of industrialisation, c1760 – c1860 –The Industrial Revolution: early industrialising nations –Long-term comparisons of Europe with Asia Globalisation, laissez faire & international relations, c1820 – 1914 Economic upheaval, growth and development in the 20th century: –The Great War (World War I), 1914 – 1918, and its aftermath –International disintegration, the Great Depression and recovery –World War II, 1939 – 1945, and reconstruction. –A “Golden Age” of economic growth, 1950 – 1973 (Was it golden?) –Globalisation, again: upheaval, expansion, crisis … and now?

EC120 week 01, topic 0, slide 4 Lectures and classes Lectures: two hours per week in autumn and spring: –Monday, 13:00 – 14:00 room LTB02 –Tuesday, 13:00 – 14:00 room LTB02 Classes: selected weeks only 2, 4, 7, 9, 20, 22 –Thursday, 16:00 – 17:00 room Teachers: Roy Bailey (topics 01 ̶ 15), W.P. Kennedy (topics 16 ̶ 20) EC120 Administrator: Julie Oliver, room 5B.211

Resources Online Resource Bank (ORB), your starting point for EC120: The ORB includes links to: Module outline and reading list Lecture notes, and “extras” each week Guidance for assignments Undergraduate Economics Handbook Links to many other websites with relevant material EC120 week 01, topic 0, slide 5

EC120 week 01, topic 0, slide 6 Books and other reading materials Textbooks: no single text for EC120 –Read assigned chapters from various books, and academic journal articles –You should be prepared to explore the University Library Two important books: –Findlay, R. & K. H. O’Rourke Power and Plenty: Trade, War and the World Economy in the Second Millennium (Princeton University Press, paperback edition, September 2009) –Landes, D. S. The Wealth and Poverty of Nations: why some are so rich and some so poor (Abacus, 1999) Reading list: read the “Essential” items for each week –Other listed readings: study some of these according to your interests −you have some discretion! –Essay preparation: more in-depth reading required.

What’s expected of you… Most studying is in your own time, not in lectures & classes Obtain the notes before each lecture, add notes in lectures Study the “Essential” readings each week − Sample recommended and supplementary readings Pay attention to the guidance offered in lectures and classes Take the initiative − Be prepared to ask when you need guidance Plan your essays well before the deadline, leaving yourself plenty of time. Ask for feedback when you have made a start Submit a formative assessment essay, and Importantly, submit both assessed essays (assignments) EC120 week 01, topic 0, slide 7

EC120 week 01, topic 0, slide 8 Assessment Final examination: 3 hours duration, next May/June Format changed in 2012 – guidance will be provided Coursework: average of two assignments (essays) Final mark: –0.5x(Exam mark) + 0.5x(Coursework), or –Exam mark, whichever is higher. Formative assessment: essay due no later than Monday 02 November.

EC120 week 01, topic 0, slide 9 What are your goals for the module? Consider what you want to get out of the module EC120 is not “pass/fail” Pass mark: 40%, third class standard “Good honours” standard: 60%, or even better What this requires: –Careful time planning to cover the material –Be an active learner, take the initiative in organising your studies –Prepare and submit all assessed work, formative and summative –Heed the guidance you are offered in lectures, classes, etc. –Seeking advice when you need it, focusing on specifics