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Economic History of U.S. (AI)

by: Mae Keebler II

Economic History of U.S. (AI) ECON 1740

Marketplace > Salt Lake Community College > Economcs > ECON 1740 > Economic History of U S AI
Mae Keebler II
Salt Lake Community College
GPA 3.51


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Class Notes
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This 12 page Class Notes was uploaded by Mae Keebler II on Monday October 19, 2015. The Class Notes belongs to ECON 1740 at Salt Lake Community College taught by Staff in Fall. Since its upload, it has received 33 views. For similar materials see /class/225130/econ-1740-salt-lake-community-college in Economcs at Salt Lake Community College.

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Date Created: 10/19/15
Curriculum Outline Template Date of Adoption Course Abbreviation Econ 1740 Course Title US Economic History Course Description Economics 1740 US Economic History explores the historical foundations of American economic growth and development from colonial times to the present The study of economic history provides scholars the opportunity to understand and analyze from a historical perspective the impact of institutional and structural changes within the American economy Course Prerequisites None Number of credits 3 Number of instructional contact hours 45 Number of lecture hours per week 3 Type of credit Transfer Submitted by Dan Martinez Each curriculum outline provides the following information which must be re ected in individual instructor syllabi and which remain the same for any section of the course offered Note Individual z39mtmttor gllakz39 will 51150 rc ett that z39mtmttor x 5916 for rimming tbefollowz39ng okjettz39vex and airexxmmtxj Course Objectives See attached study guides and syllabus for course objectives Required Assessments EXaIninations andor written assignments where students can demonstrate knowledge ofmaterial Other Instructions on Specific Assignments and Processes NA This course ful lls General Education requirements if applicable by Meeting Utah Higher Education System requirements permining to American Institution courses Economic T r as a Theme of History Know reasons for studying Economic History Understand the basic production function YfN L Kc Kh E Understand the Braudel s Model for analyzing economic history Know the differences between material life and economic life Know the three aspects of capitalism according to Braudel Out of the European Cradle The Understand the basic characteristics of material life in Europe Understand the basic characteristics of economic life in Europe Know the background of trade and commerce for Ancient Europe Know the environment for promoting Economic Development in Medieval Europe Understand the reasons Europe took to sea eXploration leading to the First Discoveries Know Portugal s contribution to Sea Exploration Understand Portugal s and Spain s journey to world dominance and the role of the Treaty of Tordesillas 1494 Know the causes for the demise of Portugal and Spain Understand English Mercantilism its goal and justi cation for economic regulation Understand the role of colonies in the conteXt of Mercantilism Know the Early Navigation Acts Colonization of America Know the contribution made by Holland in the eXploration of the New World Know France and England s contributions to eXploration of the New World Understand why colonization was important in developing the New World Know the signi cance of the following settlements Roanoke Jamestown Know the causes of the demise of early English settlements Know the early reforms that helped the colonies survive and ourish Know the signi cance of the Headright System Understand how European migration to the New World was nanced Understand how slavery becomes such a signi cant part of early economic life for the colonies Understand the concept of population thinning Understand the signi cance of the Treaty of Paris 1763 Understand how the English dominated colonization of North America Understand what the colonists had in terms of inputs of production Y fN L Kc Kh T in the New World 0 Know what the colonists had in abundance 0 Know what the colonists lacked 0 Know why the colonists lacked critical inputs Know the importance of Agriculture to the colonies Know the cash crops of the South Know by region the comparative advantage and primary economic activity of the colonies Know by region other economic activities the colonies developed For example I The EXtractive Industries Furs Forests and Ores I Sea Products Manufacturing Activities Mills and Yards Shipbuilding Merchant Marine Setting the Economic Stage 0 Understand the difference between primogeniture and multigeniture Know the meaning of exports imports and balance of payments with respect to international commerce during colonial times Know how interior trade impacted distribution of wealth between small farmers and wealthy landowners and merchants Understand the purpose of money in colonial times Know what commodity money is and its disadvantages Know what specie is and how it was used to support paper money in the colonies Know the Currency Act and why Parliament enacted it Know the Currency Restraining Act of 1764 Know how trade de cits with England became an impossible dilemma for the colonists u u Derlara nn of Economic 0 Understand how colonial governments were set up Know what the privy council s role was with respect to the colonies Know the difference between the Old Colonial Policy and the New Colonial Policy Understand the signi cance and effects of the Seven Year War on relationship between the colonies and England Know the difference between the mercantile legislation and revenue generation legislation Know the events leading up to the First Crisis ie the legislation leading up to the crisis the response of the colonists and the outcome of the Crisis 0 Know the events leading up to the Second Crisis ie the legislation leading up to the crisis the response of the colonists and the outcome of the Crisis Know the events leading up to the Third Crisis ie the legislation leading up to the crisis the response of the colonists and the outcome of the Crisis Know the sentiment of interior colonials and how English land policy promoted support for the Revolution Understand the impacts of the war on trade during the war and how it impacted American economic growth Know the features of the Constitution and how these features contribute to American economic growth The Commerce Clause Taxing power Coining and minting of Money etc Understand the condition of the American economy after the war speci cally in trade in shipping in agriculture and in manufacturing Know the impacts of neutrality and what the US did to take advantage of neutrality Know the various ruleslaws impacting how America dealt with trade given neutrality For example the Essex Decision the Berlin Decree the Embargo Act of 1807 and the NonImportation Act of 1809 Preparations for the Age of Manufacture Remember the history of land acquisition prior to the Constitution Know the four major land acquisitions Understand how land was acquired ie Right of Conquest and Purchase Know the two major land systems developed during colonial times Know the importance of the Northwest Land Ordinance of 1785 and Northwest Ordinance of 1787 xxxx xxxx xxxx xx xxx Know the difference between Land Liberals and Land Conservatives Know the impacts of later Land Acts starting in 1796 through 1832 Know what Squatting means with respect to land Know the importance of the Graduation Act of 1854 and the Homestead Act of 1862 Know the three major population migrations and what motivated these migrations Understand the importance of cotton to the South and to America as a country Understand the 39 of the T l 39 39 to the US Understand how the Transportation Revolution was nanced Know the routes of western commerce ie the three gateways Know the major forms of transportation that developed during the Transportation Revolution Understand the problems facing the various transportation methods Understand what caused the British to overtake the US in the ocean transport business Understand what caused the change from inhome manufactures to factory manufacturing Know the de nition of a factory system Understand the corporate organization and how it contributed to the Manufacturing sector Understand the signi cance of the Dartmouth College decision and how it impacted the corporate form of organization Know what the Ancient law of trusts and how it applies to the corporate form of organization Know the advantages the corporate form of organization Know the different forms of liability and how the corporate form allows minimal risk for investors Understand the political environment of obtaining a corporate form and how general acts impacted the ability to get a corporation Know the major factors in Factory Production ie machines and technology standardized interchangeable parts continuous processes and power and energy Know the various sources of power and energy to the manufacturing sector during this era Know what protectionism and how tariffs were used for protectionist purposes Know how the factory environment impacted labor Understand the differences and similarities of the Rhode Island System and the Waltham system with respect to labor Understand how immigration impacted the labor market in America Know the difference between wages and real wages Understand the impacts of skilled labor vs unskilled labor on the labor market Know the issues facing labor and how labor unions served the interests of labor in resolving these issues Understand the signi cance of the Commonwealth v Hunt case on labor unions in America Know what political gains were achieved for working people during this period of time in America Understand the role of Fanny Wright in public education Understand the impacts of the workday in terms of hours and its impact on labor and management The Structural Transformation xxx xxxx xxx Know the difference between the decimal system and the farthing system with respect to currency Understand the issues facing the US in setting a standard for currency Understand the importance of the Bimetallic Standard and how it impacted the money supply Understand the terms mint ratio and market ratio and how this impacted the supply of money in the econom Understand Gresham s law and how it relates to the supply of money in the American economy Understand the difference between Hard Money and soft money ie Bank Notes Understand the difference between Par and Discount with regards to the exchange of bank notes and what were causes for bank notes to be exchanged at par or discount Understand what was the impetus of the First Bank of the US Understand the arguments for and against the First Bank of the US Know the reasons for chartering and the contributions made by the Second Bank of the US V Understand the in uence of Andrew Jackson on the fate of the Second Bank of the US I Know the three systems of bank controls of this period and how it stabilized the money supply V Understand how the Northwest Ordinance impacted slavery and regional con ict V Know the issues facing westward eXpansion around slavery V Know how the Missouri Compromise impacted slavery and regional con ict V Understand the impact of the KansasNebraska Act of 1854 on slavery and regional con ict V Know the issues facing eXpansion into the MeXican Cession and how these issues were resolved I Understand the effects of the Dred Scott case on legislative efforts to control slavery V Know the advantages the North over the South in waging the Civil War V Understand the rationale for the South waging the Civil War V Understand how Northern and Southern nance and trade policies affected the outcome of the war V Know the de nition of Greenbacks V Understand the BeardHacker theory and the criticisms of the theory V Understand the three major reasons for economic decline in the South especially the Deep South V Understand the signi cance of the 1339h and 1439h amendments V Know what sharecropping means and how this practice subjugated the blacks to debt peonage V Know the factors that weakened debt peonage V Understand the demise of cotton in the South V Understand what contributed to the lack of education in the South The Age of the Businessman Know the three effects of post Civil War industrialization on the United States economy Understand how the Market Mechanism regulates activities of the economy Know the factors contributing to the growth of the agricultural sector Know how these factors contributing to agricultural growth may have hindered the economy in the future Understand the adversarial relationship between other sectors of the economy ie banking industry etc and agriculture Understand the farmer s economic frustrations contributing to hard times for the farmer Know the agrarian political organizations and what they contributed to the economy of the US Understand the three principle functions of the Department of Agriculture Understand the concept of Social Darwinism and now it pertains to economic development in the US Understand the motivation for the transcontinental railroad Know the monopoly pricing power the railroads possessed and why it was justi ed Know the dual components of technological change Understand how the businessperson evolved during the post Civil War period Understand the impacts of managerial changes during this period including McCallum s Managerial Principles xxxx xxxxxxxxx The Technology of Industrialization Understand the social changes promoting the new concentration of American Industry Understand the concept of economies of scale and how large rms were able to obtain economies of scale in their rms Understand how rms were able to develop economies of scope Identify the two major new sources of power available to industry and why they became so important Understand Dollar Diplomacy and its impacts on foreign policy xx xxx From Trust to Antitrust V Understand the principle of price discrimination and whom the railroads discriminated against V Understand the three roles of the Interstate Commerce Commission xxx xxx Understand the impacts of the Elkins Act and the Hepburn Act Understand the how collusion agreements were executed in the economy Understand the reasons why collusive agreement would not endure and what was used to make such arrangements more permanent Understand the concepts of Trusts and Holding companies Know the difference between horizontal combinations and vertical combinations Know the Sherman Antitrust Act of 1890 and how it impacted American business Workers and Work xxxxx Understand how immigration composition changed in comparison to the early 1800 s Understand the impact of the unskilled masses immigrating to America on wages Understand the role of the Knights of Labor and how this lead to the AFL s emergence Understand the nationalization of labor unions and the contributions made by these unions Know how productivity was created from this new division of labor and how it impacted the workplace Understand the concepts of Scienti c Management or Taylorism Industrialization Rubs Off on Life xxxxxxxx xxxxxx Understand the importance of the National Bank Act of 1863 Understand the impacts of returning to the Gold Standard by Republicans and Democrats Understand the signi cance of the AldrichVreeland Act and how it impacted bank panics Understand the fractional reserve principle and how this caused bank panics Understand the role of the US at the beginning of World WarI Know why the US got involved in World War I Know the ways that war can be nanced Understand the concept of Central Controls and how these controls were implemented on the economy Understand the concept of bulkline pricing Understand the social changes which occurred in the twenties Understand how the standard of living was obtained by so many in the US Know the characteristics that represented economic life in the twenties Understand the two ways the agricultural sector sought help from the government during the twenties Know the difference between monetary policy and scal policy The Great Depression J J J J J Know the causes for the Great Depression Understand the impacts of the Smoot Hawley Tariff Know what Keynesian economics is and what it advocated as a prescriptive measure for the economy Know the role of the Federal Reserve in the bank panics of the Depression Understand concept of the FDIC The New Deal J J xxx Understand the impact of the Hundred Days on the economy of the US Know the various pieces of legislation enacted under Roosevelt and how it solved the problems created by the Great Depression Understand how the New Deal altered the social structure of accumulation Know the results of the New Deal policies on the US Economy Understand the impact of World War 2 on the economy during the late 1930 s From Postwar Boom to Postwar In ation J J xxxxxxxxx Know what GDP means and what it measures Understand what the GI Bill of Rights did for the US economy as it related to material life and economic life Know how the Full Employment Act of 1946 affected government economic policy Know the difference between public infrastructure and private infrastructure Understand how the Interstate Highway Act of 1956 impacted transportation and public infrastructure Understand the rationale for the Kennedy TaX Cut Understand how Lyndon Johnson s Great Society was to come about Know what in ation is and how it impacts the economy Know what price controls are and how President Richard Nixon attempted to use them Know what the CPI measures Know what OPEC is and how it contributed to stag ation The Conservative Era xxxxxx Understand the basic tenets of Supply Side Economics or Reaganonmics Understand the role of tight money supply and how this was to help the economy recover Understand how deregulation was used to further Reagan s economic plans Know how the Merger Wave was nanced and the purpose for it happening the way it did Know the impacts of the S amp L Crisis and how it was resolved Understand the term Military Keynesianism and how this affected the economy in Reagan s second term Ecnnnmics 17407001 7 us Ecnnnmic Hinan Spnng Semester 2003 Inst y c Mamnez MW F8 00 78 50 Of ce Hours By Appmmmem BB 311 Of ceLocauon BB 20776 Phone 9574578 Emu Address Danny Mamnezslcc edu Text Harcuun Brace 1999 Cmrse Descrip nn and Obj em39ves Ecunumms 174m n ehsnges wnhm me Amenean ecunumy Clawnmn Structure etc WAllbeusedtu Grading rmr msmssmns at Inutha39vmrds anthmgcuveredmclassunnthetextxsfmrgamefurte quesnuns The truefalse luwestscure w um quot m r m Fr u There Wm benu make up Exams Gradmg Wm be weighted as fulluws Exams and Fmal 75 mm pmnts Tam Pager 25 mm grunts Tutal mm A pumts mews A 827nm Be 594 9 9 7 Va 7 79778 0 743 D 89788 B 7777394 0 527mm Dr 87 83V 72 7U 59urless E 3 Waiting Fnliry If the instructor is not in the classroom at the scheduled hour students should wait 15 minutes In the event the Instructor is ill students immediately will be noti ed either by a note on the class room door or on the chalkboard Americans With Disabilities Act Salt Lake Community College embraces both the letter and the spirit of the Americans with Disabilities Act ADA The ADA states No quali ed individual with a disability shall by reason of such disability be excluded from participation in or be denied the bene ts of the services programs or activities of a public entity or be subjected to the discrimination by such entity Students with disabilities needing accommodations such as special test arrangements note taking taped textbooks tutoring or equipment Please contact the Disability Resource Center DRC at the Redwood Campus in the College Center Room 008 9574659 voice or 9574646 TTY Skill Centers Students Center Disability Support Services DSS South City Campus Room W132 9573337 voice and TTY Academic Honesty Statement Students are expected to have academic and intellectual integrity Students caught cheating or plagiarizing another s work will receive an E for the course Accreditation The Association of Collegiate Business Schools and Programs ACBSP accredits all of the business programs at Salt Lake Community College This accreditation represents the achievement of meeting the high national standards established for associate degree granting business programs Student Information Students interested in getting their grades and information after the rst week in class will have to get the information off of the course website wwwdacmartinezpageoutnet This site includes syllabus information schedules study guides your exam scores and other information To get access for information from this site you will need to register yourself Students will have to register into this website to get your study guides problem sets and syllabus Curriculum Outline Template 12803 10 Reading Assignments Students are expected to remain current with reading assignments By keeping current on readings students will be able to participate effectively in class discussions The reading assignments for each class period are listed below Impacts Money amp War Recovery Impacts War Recovery Mar 14 Mar 17 7 No Curriculum Outline Template 12803 11 Money Era Boom Boom Boom Curriculum Outline Template 12803 Money Finance in the Post Exam Start Date Exam Date Tuesday April 8quot From Postwar Boom to


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