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I. Introduction1. Economic growth and development

a. Indicators for economic growth and GDPb. Economic growth, development and progress

2. Production factorsa. Laborb. Landc. Capital (human and physical)

3. What determines economic growth?a. Culture, values and institutionsb. Socioeconomic matrix

-Demography

-Economy-Culture-Society

c. Technology

II. Population and institutions1. 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 specialization2. Institutions

a. What are institutions?-Any form of regulation and organization of individual andcollective 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)

III. The Atlantic economy1. 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

IV. British Industrial Revolution1. What was it?

2. Causesa. Geographyb. Demographyc. Agricultured. Institutionse. Tradef. Demandg. Societyh. Culture

3. Consequences

V. The first globalization1. 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

-Railway4. Communications-Post-Telegraph

5. The Gold Standarda. Definition and featuresb. Meritsc. Demerits

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

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VII. WWI and interwar period1. World War I

a. Economic consequencesb. Human costsc. Financial and material costs

2. Reparations and debtsa. Originsb. Problems for Germanyc. Other plans

3. Return to the Gold Standarda. Featuresb. Failures

4. The Great Depressiona. Precedentsb. Causesc. Policies to solve the crisisd. The New Deal

VIII. The Golden Age of capitalism1. Consequences of WWII

-Human and material costs-Bombings and reconstruction

2. Changesa. Capital and investmentb. Technology transfer and americanizationc. Labor

3. The rise of the European mass consumera. Americanization of the European model

b. The European consume culture4. The end of the Golden Age

IX. The second globalization1. Bretton Woods

a. Features and goalsb. Institutionsc. The trilemmac. Problems

3. The Second Globalizationa. Distribution of economic activity and comparative advantageb. International process of productionc. Wages and employment