Checking date: 15/03/2024

Course: 2024/2025

History of the world economy
Dual Bachelor in International Studies and Business Administration (Plan: 505 - Estudio: 319)

Coordinating teacher: SANTIAGO CABALLERO, CARLOS

Department assigned to the subject: Social Sciences Department

Type: Basic Core
ECTS Credits: 6.0 ECTS


Branch of knowledge: Social Sciences and Law

Requirements (Subjects that are assumed to be known)
No previous courses are required.
Knowledge/competences: - Understanding of the development of the world economy - Empirical/applicable knowledge directed at understanding the interactions between actors and agents from different nations in historical perspective. - Knowledge of economic causes, effects and policies explaining and affecting market integration as manifested in the movement of persons, commodities, capital and ideas between economies. - Understanding of the processes of productive specialization and economic convergence and divergence in history - Empirical knowledge directed at understanding the origin, evolution and present-day characteristics of the institutions that govern the world economy. Knowledge of how and why they were created and how they contribute to the working of the international economy. Skills: - Development of individual learning routines via the analysis of relevant texts in economic history and the collection and analysis of historical evidence. - Development of group-based learning routines via group-based discussion and the oral and written presentation of work by teams. - Development of verbal and written communication skills. - Deepening of the ability to raise questions and answer them using economic analysis
Skills and learning outcomes
Description of contents: programme
I. The development of a world economy in the early modern period: the formation of national and international commodity markets, institutional change and foundations of modern economic growth II. The first globalization of the long nineteenth century (c. 1820-1913) - The Great Divergence and the Great Specialization. The integration intercontinental commodity markets, international migration and capital mobility. - The formation of an international monetary system, of global communication systems and coordination of trade policy - Causes and effects of the factor and commodity market integration in "central" and "peripheral" countries III. Deglobalization and international disintegration (c. 1914-1945) - The First World War, political instability and the restoration of prewar economic institutions and arrangements - The great depression, the collapse of the interwar gold standard and disintegration of international markets IV. The reconstruction of the international economy after 1945 and the second globalization - Consecuences of the Second World War: communism, decolonization and the Cold War - Rise and fall of the Bretton Woods system - Crisis, recovery and the second globalization in the Western world, c. 1970 to today. - Emerging economies, technical change and decentralization of production in multinational firms and value chains. - Changing models and paradigms of domestic economic policy; the role of international organizations and international markets in their formulation and transmission. Formation of regional economic areas and renewal of international economic institutions since the 1990s. V. The world economy in the early 21st century - Convergence and divergence of productivity and living standards between countries and evolution of economic inequality between and within countries. - The future of globalization: political, economic and social challenges
Learning activities and methodology
Students will acquire the knowledge and skills through lectures, the handing of the work assigned by the teachers and its discussion in class. Skills and attitudes will be enhanced by the individual and teamwork performed by the students and their discussion in class. The tutorials moreover will also try to open up the discussion to the students via the collective analysis of tables, graphs or texts and the use of questions and multiple choice tests on the main concepts discussed in the lecture. The course will keep the following schedule: Students will have access to the following material: at the beginning of the course, a reading list will be assigned to each topic. Students will have access to all the graphic material used in class: graphs, tables, maps, power point slides. The tasks to be performed by the students will be handed out in the class tutorials. The students according to the calendar and relevant deadlines provided by each professor will hand in these tasks. The lectures present the concepts, theories and models that can be applied to each topic and develop the main historical narrative of the course. The activities developed during the tutorials are designed to stimulate the students to use the analytical concepts developed in the course to understand past situations and develop a deeper comprehension of current economic problems. There will be at least one tutorial in the last weeks of the course in which the student will have the chance to clarify doubts about the main concepts and models used in the lectures, as well as doubts about assessment and the schedule of the course.
Assessment System
  • % end-of-term-examination 60
  • % of continuous assessment (assigments, laboratory, practicals...) 40

Calendar of Continuous assessment

Extraordinary call: regulations
Basic Bibliography
  • Eichengreen, Barry. Globalizing capital. A history of the international monetary system. Princeton University Press. 1996
  • Findlay, Ronald/O'Rourke, Kevin H.. Power and Plenty. Trade, War, and the World Economy in the Second Millenium. Princeton University Press. 2007
  • Forman-Peck, James. A History of the World Economy. International Economic Relations Since 1850. Financial Times Prentice Hall. 1995
Recursos electrónicosElectronic Resources *
Additional Bibliography
  • Allen, Robert C.. Global Economic History: A Very Short Introduction.. Oxford University Press. 2011
  • Bairoch, Paul. The Economic Development of the Third World since 1900. University of California Press. 1975
  • Bordo, Michael D./Taylor, Alan M./Williamson, Jeffrey G.. Globalization in Historical Perspective. University of Chicago Press. 2003
  • Bordo, Michael/Eichengreen, Barry/Irwin, Douglas A.. Is globalization today really different than globalization a hundred years ago?. NBER Working Paper 7195. 1999
  • Cameron, Rondo/Neal, Larry. A Concise Economic History of the World. From Paleolithic Times to the Present. Oxford University Press. 2003
Recursos electrónicosElectronic Resources *
Detailed subject contents or complementary information about assessment system of B.T.
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The course syllabus may change due academic events or other reasons.