Course entry requirements: Acceptance for an honours programme.
One of the biggest puzzles of human history is why some countries became rich while others have remained poor. More specifically, the question of why early modern Western European countries advanced ahead of their non-Western counterparts has been the point of departure for many debates in economic history. Economic development can be understood in broad terms and comprises several aspects. Important are institutional changes, factor endowments, demographic transitions, the economic role of the scientific revolution and innovation, and the early growth of financial systems. Naturally, among these aspects are also patterns of international trade and globalisation. This course studies historical processes of economic growth, convergence and divergence in the global economy over the past four centuries and introduces students to both new and old perspectives on the determinants of economic prosperity.