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Economics

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The World Economy

Module Code: ECU44131/ECU44133

Module Name: The World Economy

  • ECTS weighting: 10/5
  • Semester/term taught: Semester 1
  • Contact Hours: Flipped classroom, with approximately 20-22 academic hours of live session and four academic hours of tutorials, used for student presentations
  • Module Personnel: Lecturer – Professor Ronan Lyons

Module Learning Aims

The Development of the World Economy module will focus on the historical development of the global economy, from earliest times (roughly the fourth millennium BCE) until the turn of the third millennium CE. The aim is to jointly look at key phases in the development of global economy, in particular waves of integration and disintegration, and the role played by key factors, such as climate, geography, disease and technology.

No prior knowledge of econometrics is required for this module, but a willingness to learn how to read, understand and critique academic papers is. Success in this module also depends on a willingness to read voraciously.

Learning Outcomes

Upon successful completion, students will be able to:

  • Outline the major phases in the development of the world economy from earliest times to the present day
  • Explain the role of factors such as climate, geography, disease and technology in the development of the world economy
  • Explain the causes and consequences of flows of people, ideas, goods and capital in various episodes in the development of the world economy
  • Compare key features of different episodes of the world economy, including the Roman/Han, Islamic, Mongol and European-led episodes
  • Discuss in detail the key features in the development of one particular region in the world economy and how that relates to the global picture

Module Content

  • Depending on time and overall progress, it is envisaged that topics that the module addresses will be drawn from the following list:

    1. The origins of the world economy
    2. The Roman-Han world economy
    3. The Islamic-Tang world economy
    4. The world economy in the time of the Mongols
    5. The world economy after the Columbian Exchange
    6. The world economy under empire and mercantilism
    7. The causes and consequences of the Industrial Revolution
    8. Nineteenth century globalization
    9. The world economy between 1914 and 1945
    10. The post-1945 world economy

Recommended Reading List

The module is based around a flipped classroom set-up. This means that, each week, there are certain pre-recorded videos that are the principal material to be reviewed ahead of live sessions, which are based around class discussions rather than prepared lectures. In addition to these pre-recorded materials, detailed readings will be given on Blackboard.
For the post-1000CE world economy, the best overview is by Findlay and O'Rourke, Power and Plenty: Trade, War, and the World Economy in the Second Millennium (Princeton University Press, 2007). For the pre-1000CE period, Barry Cunliffe, ‘By Steppe, Desert & Ocean’ (Oxford University Press, 2015) is the best overview. However, for all periods, further sources are required and for specific regions, more detailed texts are available. Examples include:

  • The BCE World Economy James Scott, ‘Against the Grain’, David Anthony, ‘The Horse, The Wheel & Language’ and Eric Cline, ‘1177BC’ – for the earliest economies and economic integration, with a focus on the role of the steppe (and geography more generally).
  • The Roman/Han World Economy: Raoul McLaughlin, ‘The Roman Empire & the Silk Routes’ and ‘The Roman Empire and the Indian Ocean’, as well as Kyle Harper, ‘The Fate of Rome’
  • The period either side of 1000AD: Brian Fagan, ‘The Great Warming’, Valerie Hansen, ‘The Year 1000’, Robert Lopez, ‘The Commercial Revolution of the Middle Ages’, and Janet Abu Lughod, ‘Before European Hegemony’.
  • Toby Green, ‘A Fistful of Shells’ (West Africa), Tirthankar Roy, ‘India in the World Economy’, David Abulafia, ‘The Great Sea’ (Mediterranean) and Richard von Glahn, ‘The Economic History of China’, as examples of region-specific overviews covering different time spans.

Module Pre Requisite

Senior Fresh Intermediate Economics (ECU22011/ECU220212) or equivalent.

Assessment Details

  • The 10-ECTS module is assessed as follows: Review slide deck and presentation (30%); Research proposal (40%); Take-home exam (30%).
  • The 5-ECTS module is assessed as follows: Review slide deck and presentation (50%); Take-home exam (50%).

Module Website

Blackboard

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