Checking date: 09/10/2019


Course: 2019/2020

Economic Growth, Convergence and Globalization in the Long Run
(15633)
Study: Master in Development and Economic Growth (255)
EPC


Coordinating teacher: TENA JUNGUITO, ANTONIO

Department assigned to the subject: Department of Social Sciences

Type: Compulsory
ECTS Credits: 3.0 ECTS

Course:
Semester:




Students are expected to have completed
A graduate course of macroeconomic, international economomic theory, and basic tools of statistics and econometrics.
Competences and skills that will be acquired and learning results.
- To develop an analytical critical approach to understand the causes and consequences of long term welfare and inequality changes at a global level. - To understand the globalization, convergence and divergence phases in the long run. - To have critical knowledge of globalization and international institutions in the convergence and divergence growth process. - To understand the dynamic effects of international trade, migrations and capital movements on growth, convergence and inequality in the long run.
Description of contents: programme
This is a post-graduate course that offers a long-run view on the dynamic effects of international trade and factor movement on growth, convergence and income distribution at a global level. It´s required just some basic knowledge of statistics, international and financial economy. We will use and stylize narrative about the international economic history from 1820 to understand today world international economic problems. We will debate, on one hand, trade effects on growth, economic divergence and income distribution, on the other hand, the different alternatives on commercial and monetary models. The historical narrative follows the long 19th century, interwar and the post-war characterized as integration, disintegration and reintegration periods. On this context, it will be studying the interrelation between technology, institutions and geography along the globalization process at the same time that we analyse the convergence and divergence between rich and poor countries and domestic income distribution. PROGRAM Topic 1: Introduction: Why are we interested in Globalization, growth and inequality? 1.1 Which are the main questions of the course? 1.2 It is easy to go out of poverty? Why the West get out of poverty first? 1.3 How to measure growth globalization and inequality 1.4 What can we learn from the interaction between globalization, growth and inequality in the past? Topic 2: The origins of the great divergence: convergence and global inequality in the long run. 2.1 Inequality in historical perspective. 2.2 When did the Great divergence start? 2.3 What was more relevant inequality between countries or inside countries? 2.4 Who has gained with globalization in the last decades? Topic 3: The first wave of globalization 1820-1913: trade and growth. 3.1 Some previous reminders: why countries trade? 3.2 Which forces influence in the acceleration of integration in the XIX century? 3.3 Globalization and inequality in XIX century 4.4 Trade and the poor. Topic 4: The international monetary system, migrations and capital movements 1820-1913 4.1 What is a monetary system and how the gold standard should work 4.2 How the gold standard worked really. 4.3 Why Europeans migrate and capital went to US and Argentine in the XIX century? 4.4 The mobility of goods and factors. Historical lessons. Topic 5. Globalization trade policy and Empire 1820-1940. 5.1 The relation between globalization and Empires in the 18th and 19th centuries 5.2 Imperialism, colonial heritage and geography 5.3 The cost and benefits of Colonialism, 5.4 Trade liberalization and protectionism in History. Topic 6. The disintegration of the international economy and the World in Depression 1914-1950 6.1 The consequence of the War and the consequence of the Peace 6.2 The reconstruction of the International Monetary system 6.3 The causes of the Great Depression and consequence in Europe and the US. 6.4 Disintegration and Great Depression exists. Topic 7. Openness, growth and Institutions from 1950 to the present. 7.1 Bretton Woods international institutions, trade and monetary system. 7.2 Why was so fast the European growth? Convergence and Globalization. 7.3 The growth of the Public 7.4 Bretton Woods Crisis and the Great Convergence. Topic 8. Globalization and Inequality from 1950 to the present. 8.1 A tale of two globalizations: differences between trade and factor integration. 8.2 Information Technology and the New Globalization 8.3 Globalization and inequality 8.3 Globalization, inequality and long term growth.
Learning activities and methodology
Acquisition of theoretical, historical and critical skills - The master lectures will develop some theoretical, historical concepts in critical dialogue framework. - Reading is important in this course and is below divided by topics. Those readings with an asterisk (*) should be read before the general lecture take place because they are related to the discussion and students will be asked for comments about it. Reading list is long because one of the goals of the course is to develop skills to read in diagonal. To examine introduction and conclusions and makes a rapid wanted of the fundamental arguments, and relevant evidence (table, figures and regressions) to be able to understand and summarize the main points and consistency of the paper. Read something about each topic and most about the topic of your course essay. You should read every week and we will debate about every reading signed on two specific sessions marked in the Syllabus chronogram. Final essay: you should write a short essay about 6.000 to 8.000 words in a team of two-three co-authors (preferably). Editorial norms will be those of a standard academic journal in the economic area. The objective will be to present an academic debate offering a relevant good question related to an international economy present-day problem on growth, income distribution, monetary, trade policy, migration¿etc, mainly inspired on the course topics. The first step is to find an attractive topic and a relevant question. You should make a previous consultation with the professor to select a topic and question. That¿s should be done as early as possible in the second week of the course, with a proposal of the topic, question and three coauthors names
Assessment System
  • % end-of-term-examination 40
  • % of continuous assessment (assigments, laboratory, practicals...) 60

The course syllabus and the academic weekly planning may change due academic events or other reasons.


More information: https://aplicaciones.uc3m.es/reina/principal.do?codEstudio=255&codPlan=242