EC 333 - Evolution of the Global Economy
Professor Jason Long

Meeting Times:
Tuesday, Thursday 9:30 - 10:45 am

Classroom:
Diamond 342

Office Hours:
Tuesday 3:45 - 5:30 pm, Friday 9 - 11 am


Course Syllabus
Download Fall 2008 syllabus as pdf file.


Course Materials
Approximately one lecture will be devoted to each topic. All the required readings (except Temin) are available online through the course Web page. Except where noted, the readings from the Kenwood-Lougheed textbook ("KL" below) are optional; the book is on reserve at the library.All of the other readings are required. Many of the online articles are available through JSTOR. Following the link to each article, you will be given the option of reading the article on your computer, downloading it, or printing it. You will need to access the papers from a computer in the Colby network in order to be able to use JSTOR.

I. Introduction
Micklethwait, J. and A. Wooldridge. “From Sarajevo to September 11” Policy Review 117 (February, March 2003).

II. 1400 – 1800: Pre-History of the Global Economy – The Rise of Europe
Jones, E. L. The European Miracle. Cambridge: Cambridge University Press, 1981. Chs 1, 2.
Mokyr, J. The Lever of Riches. New York: Oxford University Press, 1990. Ch 9.
North, D. "Institutions," Journal of Economic Perspectives 5 (Winter 1991): 97-112.
Olson, M. “Big Bills Left on the Sidewalk: Why Some Nations are Rich, and Others Poor” Journal of Economic Perspectives 10 (Spring 1996): 3-24.

III. 1800 – 1913: Century of Integration

A. Integration Overview
Irwin, D. “The United States in a New Global Economy? A Century’s Perspective” American Economic Review 86 (May 1996): 41-46.
Lewis, W. A. The Evolution of the International Economic Order. Princeton: Princeton University Press, 1977. Chs 1 and 2.
KL, Introduction, Ch 1.

B. Technology
Clark, G. “Why Isn’t the Whole World Developed? Lessons from the Cotton Mills.” Journal of Economic History 47 (March 1987): 141-73.
KL, Ch 8.

C. Migration
Meier, G. M. and J. E. Rauch. "How to Read a Regression Table," in Leading Issues in Economic Development (8th ed), New York: Oxford University Press, 2005: 633-38.
Hatton, T. J., and J. G. Williamson. “What Drove the Mass Migrations from Europe in the Late Nineteenth Century?” Population and Development Review 20 (September 1994): 533-59.
KL, Ch 3.

D. Capital Movement
Taylor, A. M., and J. G. Williamson. “Capital Flows to the New World as an Intergenerational Transfer.” Journal of Political Economy 102 (April 1994): 348–71.
KL, Ch 2.

E. Political Economy
Rogowski, R. “Political Cleavages and Changing Exposure to Trade” American Political Science Review 81 (December 1987): 1121-1137.
Williamson, J. “Globalization, Labor Markets, and Policy Backlash in the Past,” Journal of Economic Perspectives 12 (Fall 1998): 51-72.
KL, Ch 4.

F. International Payments and the Rise of the Gold Standard
Hume, D. “On the Balance of Trade.” In The Gold Standard in Theory and History, edited by B. Eichengreen. New York: Methuen, 1985.
KL, Ch 7. This chapter is required.
KL, Ch 6. This chapter is optional.

G. International Trade
O’Rourke, K. & J. G. Williamson, “Late Nineteenth-Century Anglo-American Factor-Price Convergence,” Journal of Economic History 54 (December 1994): 892-916.
KL, Ch 5.

H. The Core and the Periphery
Acemoglu, D., S. Johnson, and J. A. Robinson. "The Colonial Origins of Comparative Development: An Empirical Investigation." American Economic Review 91 (December 2001): 1369-1401.

A. Disintegration Overview
Lewis, W. A. Economic Survey: 1919–1939. London: George Allen and Unwin, 1949. Chs 2 and 3.
KL, Ch 11.

B. War and Its Aftermath
Keynes, J. M. “The Capacity of Germany to Pay Reparations.” In Essays in Persuasion. New York: W. W. Norton, 1919.
KL, Ch 12.

C. The World in Depression
Temin, P. Lessons from the Great Depression. Cambridge: MIT Press, 1989. Lecture 1.
KL, Ch 13.

D. Deepening Depression
Kindleberger, C. The World in Depression, 1929–1939. University of California Press, 1986, Ch 14.
Temin, P. Lessons from the Great Depression. Lecture 2.

E. Recovery and the Legacy of the World Depression
Temin, P. Lessons from the Great Depression. Lecture 3.
KL, Chs 15 and 16.

A. Growth and Technology
Abramovitz, M. “Catching Up, Forging Ahead, and Falling Behind,” Journal of Economic History 46 (June 1986): 384-406.
Baumol, W. “Productivity Growth, Convergence and Welfare: What the Long-Run Data Show.” American Economic Review 76 (December 1986): 1072-85.
KL, Ch 17.

B. Trade and International Organizations
Irwin, D. “The GATT in Historical Perspective.” American Economic Review 85 (May 1995): 323-328.

C. International Capital Markets
Obstfeld, M. “The Global Capital Market: Benefactor or Menace?” Journal of Economic Perspectives 12 (Fall 1998): 9-30.
KL, Ch 18.

D. Globalization and Equality
Lindert, P. and J. G. Williamson. “Does Globalization Make the World More Unequal?” NBER Working Paper Series. Paper 8228.