I.

Introduction
1. Economic growth and development a. Indicators for economic growth and GDP b. Economic growth, development and progress 2. Production factors a. Labor b. Land c. Capital (human and physical) 3. What determines economic growth? a. Culture, values and institutions b. Socioeconomic matrix -Demography -Economy -Culture -Society c. Technology

IV. British Industrial Revolution

1. What was it? 2. Causes a. Geography b. Demography c. Agriculture d. Institutions e. Trade f. Demand g. Society h. Culture 3. Consequences

V. The first globalization

II. Population and institutions

1. Demography a. Malthus -Land constraint -Population growth and food supply -Population growth and income per head (d. marginal returns) -Birth and death rates and preventive and positive checks -Malthus and modern economic growth b. Boserup -Population growth, innovation and economic development -Intensive techniques -Technological improvement -Larger markets, more specialization 2. Institutions a. What are institutions? -Any form of regulation and organization of individual and collective behavior (set of rules) -Rules, regulations, laws and policies b. North and Thomas -Efficient economic organization is the key to growth. -Help solving market failures and externalities -The state must be constrained c. Acemoglu and Robinson -Inclusive and extractive political and economic institutions d. Constraining the Leviathan -The Glorious Revolution (1688) -The Bill of Rights (1689) -Consequences (government and property) 1. The Dutch (1590-1780/1820) a. Reasons for success -Institutions -Geography -Commercial policy b. The Rise of the Dutch -Hanseatic League -New trade routes -Lower transport costs (Fluyt) -New Colonialism in Asia and spice trade -The Americas -Institutions -The importance of Amsterdam -Financial facilities and the banking sector c. Reasons for loss of leadership -Loss of trade privileges -Overvalued currency -Fall in immigration and urbanization 2. The English (1820-1890) a. Reasons for success -Copied the Dutch institutional model -Technological progress -Geography -Leadership in trade -Military power b. The Rise of England -Colonialism in America -Navigation Acts (aim and effects) c. Reasons for loss of leadership -Low investment in domestic manufactures -Low public investment (education, research, etc.) -Conflicts in industrial relationships -Overvalued currency -Restrictive colonial administration

1. Massive migrations -Origins and destinations -Causes and motivations -Consequences and reactions 2. International trade -World distribution of trade (center-periphery) -Investment and capital mobility -Market integration (causes and consequences) -Trade policies 3. Transport revolution -Roads and internal navigation -Maritime transport -Railway 4. Communications -Post -Telegraph 5. The Gold Standard a. Definition and features b. Merits c. Demerits 1. Reasons for success -Geography and factor endowments -Investment and capital -Institutions and values -Innovation, research and development -The large capitalist firm -Strong and integrated domestic market -Economies of scale -Advantages from both World Wars

VI. The rise of the United States (1890-today)

III. The Atlantic economy

VII. WWI and interwar period

1. World War I a. Economic consequences b. Human costs c. Financial and material costs 2. Reparations and debts a. Origins b. Problems for Germany c. Other plans 3. Return to the Gold Standard a. Features b. Failures 4. The Great Depression a. Precedents b. Causes c. Policies to solve the crisis d. The New Deal

VIII. The Golden Age of capitalism

1. Consequences of WWII -Human and material costs -Bombings and reconstruction 2. Changes a. Capital and investment b. Technology transfer and americanization c. Labor 3. The rise of the European mass consumer a. Americanization of the European model b. The European consume culture 4. The end of the Golden Age

IX. The second globalization

1. Bretton Woods a. Features and goals b. Institutions c. The trilemma c. Problems 3. The Second Globalization a. Distribution of economic activity and comparative advantage b. International process of production c. Wages and employment