Historical Development of the World Economy

Many of the controversies and tensions modern economies have to contend with today, such as growth, inequality, and instability, emerged during the last few centuries. In this seminar we will use economic and historical tools to develop a better understanding of the profound transformations in technology, finance, and international trade over time. We will analyze the challenges the world faced as capital, labor, and commodity markets became rapidly integrated, including financial crises, rising income and wealth inequality, and modernizing policies. (ECON 0210 and ECON 0250 or IPEC 0240 [formerly ECON 0240]) 3 hrs. sem.