HISTORY OF GLOBALIZATION
Classes: Tuesday & Wednesday 10:00-12:15
Office hours: Tuesday 13:30 – 15.00 or by appointment.
The course is an introduction to the economic history of the international economic integration since about 1860. After a brief historical and economic introduction, we shall focus on the so-called First Globalization (1860-1914), Globalization Backlash (1914-1950), the Golden Age of Capitalism (19150-1971) and the current Second Globalization. The last classes are devoted to financial crises, past and present. The focus is on the economic factors that lead to the integration (or disintegration) of the international economy. Special emphasis will be placed on international economic relations and on the political economy of globalization. Financial crises will also be emphasized.
Some knowledge of basic economics and of world history since 1870 (at least high school level) is required
In order to enhance performance, it is essential for students to read the assignments ahead of class. Classroom lectures do not closely follow the textbook and material covered in the assigned readings, for their exams students are responsible for both readings and lecture notes.
The final grade is based on a written examination (followed by a brief oral assessment). A mid term examination will be held on April 13 on material covered up to April 6. Students taking the final exam in the Summer Session will be examined on material covered between April 19 and May 25. The final grade will be the weighted average of the mid-term examination (40%) and the final examination (60%). Students taking the exam in any session from September 2011 onward will be examined on the entire course material regardless of their participation in the mid-term.
1 March: Introduction. “Globalization”: definition and, driving forces.
Readings: Lecture notes.
2 March: : Hecksher – Ohlin : trade, factor mobility and price convergence
Readings: Lecture notes;
8 March: Globalizations before the 19th century?
Readings: Lecture notes
9 March: Modern Economic Growth and the international economy
Readings: Lecture notes; Bordo M. (2002)
15 March: From Mercantilism to the triumph of free trade
Readings: Lecture notes,
16 March: The “First Globalization”: technology and institutions
Readings: Lecture notes, Frieden (2006) 13-79
22 March: The “First Globalization”: the international gold standard
Readings: Lecture notes; Eichengreen B (1996), Chapter 2.
23 March: The “First Globalization”: winners and losers
Readings: Lecture notes; Frieden (2006) 80-123
29 March: The Globalization Backlash: causes and consequences of the First World War
Readings: Lecture notes, Frieden (2006) 124-154; Feinstein C., Temin P., Toniolo G. (2008) Ch 1.
30 March: The economic Consequences of the First World War
Readings: Lecture notes; Feinstein C., Temin P., Toniolo G. (2008), Ch 2.
5 April Instability: the 1920s
Readings: Lecture notes; Frieden (2006) 155 – 172
6 April: The Great Depression
Readings: Lecture notes; Frieden (2006) 173-194
12 April: No class – Students prepare for mid-term examination
13 April: Mid-term examination on material covered up to April 6
19 April: Autarky and war
Readings: Lecture notes; Frieden (2006): 195-250
20 April : Reconstruction & the new international system
Readings: Lecture notes; Frieden (2006) 253- 300
27 April : The Golden Age
Readings: Lecture notes, Frieden (2006) 301 – 320, Crafts N. and Toniolo G. (2011),
3 May: Socialism in many countries
Readings: Lecture notes Frieden (2006) 321- 338, Crafts N. and Toniolo G. (2011)
4 May: The end of the Golden Age and beyond
Readings: Lecture notes; Frieden (2006) 339 – 391
10 May: The beginning of the end of the Great Divergence
Readings: Lecture notes Frieden (2006) 392 – 434
11 May: The Second Globalization in full swing
Readings: Lecture notes
17 May: The troubles of the second globalization
Readings: Lecture notes, Frieden (2006) 435-476
18 May: Financial Crises in the 19th and 20th century
Readings: Lecture notes ; Reinhard C. (2010)
24 May : The Financial crisis of 2008-10
Readings: Lecture notes; Reinhard C. (2010)
25 May: Speculations on the future of globalization
Readings: Lecture notes; Hillebrand E (2010)
FRIEDEN JEFFREY, Global capitalism. Its Fall and Rise in the 20th Century, Norton & co. New York 2006
Bordo M. (2002) “Globalization in Historical Perspective”, Business Economics, pp. 20-29
Crafts N. and Toniolo G. (2011), “Les Trentes glorieuses” (OUP Handook of Postwar Europe, OUP, Oxford 2011, Forthcoming)
Eichengreen B (1996), Globalizing Capital, Princeton UP, Princeton,
Feinstein C., Temin P., Toniolo G. (2008), The World Economy Between the Wars, OUP, Oxford
Hillebrand E (2010), “Deglobalization Scenarios. Who Wins? Who Loses?”, Global Economy Journal, pp.1-18
Reinhard C. (2010)”The Second Great Contraction”, MPRA Paper 21485