EC104: The World Economy: History & Theory
To explain how the world economy got to here it is today, focussing on the divergence between rich and poor nations. The long term changes in world income and population are quantified, the forces which explain the success of rich countries are identified and the obstacles which hindered economics advance in lagging regions are explored. The interaction between rich countries and the rest is scrutinised to assess the degree to which backwardness may have been due to Western policy.
Principal Learning Outcomes
To have acquired a broad understanding of the of the evolution of the world economy during the last millennium and specialist knowledge of those parts you find particularly interesting. Understand growth theory, the theory of international trade and money, and business cycle theory.
Term 1: Long run trends in population and per capita income, The Great Divergence, Transition to modern economic growth, The rise of the USA to pre-eminence, The Demographic Transition.
Term 2: Globalisation: then and now, The interwar globalisation backlash, Catching up and falling behind, Overtaking and staying ahead, East Asian miracle, African atrophy.
- Core Module
- L100 - Year 1, L103 - Year 1
- Pre or Co-requisites
- A-level Maths or A-level Economics
- Part-year Availability for Visiting Students
- Available in the Autumn term only (1 x 1200 word essay - 12 CATS) and in the Spring term only (1 x 1200 word essay - 12 CATS) and the Autumn and Spring terms together (2 x 1200 word essays - 24 CATS)
- Assessment Method
- Coursework (30%) + 3 hour exam (70%)
- Coursework Details
- Two 1200-word essays. Essay 1 (10%), Essay 2 (20%)
- Exam Timing
- Assessment 1
- Weight: 10.00%, Due: December 10, 2014 at 23:55
- Assessment 2
- Weight: 20.00%, Due: March 18, 2015 at 23:55
Time Allowed: 3 Hours plus 15 minutes reading time during which notes may be made (on the question paper) BUT NO ANSWERS MAY BE BEGUN. Answer FOUR questions from Section A (50 marks) and TWO questions from Section B (50 marks). Read carefully the instructions on the answer book provided and make sure that the particulars required are entered on each answer book. If you answer more questions than are required and do not indicate which answers should be ignored, we will mark the requisite number of answers in the order in which they appear in the answer book(s): answers beyond that number will not be considered.
Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.