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US Economic History

by: Erwin Jerde

US Economic History ECON 1740

Erwin Jerde
GPA 3.87

David Berri

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David Berri
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This 2 page Class Notes was uploaded by Erwin Jerde on Tuesday October 20, 2015. The Class Notes belongs to ECON 1740 at Southern Utah University taught by David Berri in Fall. Since its upload, it has received 12 views. For similar materials see /class/225499/econ-1740-southern-utah-university in Economcs at Southern Utah University.


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Date Created: 10/20/15
ECON 1740 US Economic History Lecture Outline One 1 January 5 2009 Introduction The Methods of Economic Historians Suggested Reading David Paul 1985 Clio and the Economics of QWERTY American Economic Review 75 n 2 May 33237 Available 0nLine Define the following terms 1 Economics ii Cliometrics iii Commonsense Empiricism iv CostBenefit Analysis v Path Dependency The QWERTY design of the typewriter keyboard has two important characteristics i The design is quite inefficient relative to available alternatives ii The design has dominated the market since the latter 19th century Brie y explain the story behind QWERTY and why this design has persisted into the let century Be sure to note the economic importance of this story How did New York City become the center of the economic universe According to Alfred Marshall why do industries tend to cluster in specific geographic areas Part One Historical Economic Growth Suggested Readings Galor Oded and David N Wei 1999 From Malthusian Stagnation to Modern Growth American Economic Review May 150154 Available 0nLine Fogel Robert W 1999 Catching Up with the Economy American Economic Review March 121 Available 0nLine Atack Jeremy and Peter Passell 1994 A New Economic View ofAmerican History WW Norton amp Company Chapter One American Economic Growth A LongRun Perspective List and explain the following with respect to the Malthusian Population Model a the basic assumptions b the conclusions c the policy implications Explain the basic pattern of technological change percapita income and population in the following regimes i Malthusian Regim e ii PostMalthusian Regim e iii Modern Growth Regime According to Galor and Wei 1999 why do population growth rates decline in the industrialized nations across the past two centuries a Define the term technophysio evolution b Explain via the work of Fogel 1999 how the pace of technological change differs from pre capitalism to capitalism c Explain via the work of Fogel 1999 the impact of technological change on the evolution of Homo Sapiens Define the following terms 1 Economic growth ii Extensive growth iii Intensive growth The work of Galor and Weil 1999 and Fogel 1999 each argued that economic growth was zero prior to the existence of capitalism Explain via lecture why both intensive and extensive growth was nonexistent Why according to lecture did usury laws exist in precapitalist societies List and explain the following elements of mercantilist thought a The definition of mercantilism b The definition of a nation s wealth c The description and purpose of international trade d The scope of government involvement in the economy Brie y explain a the quantity theory of money David Hume s pricespecie flow mechanism c the impact of Hume s work on the arguments offered by the Mercantilists Why did the pace of technological change increase in the past 300 years In lecture we argued that a zerosum society is characterized by a vicious circle while a positivesum society has a virtuous circle Explain this argument Theorists have often argued that economic development proceeds through stages Review a Simon Kuznet s summary of the stages approach to economic development b Adam Smith s stages c Karl Marx s stages d Walt Rostow s stages Review the pace of economic growth in the Us a in the Colonial Period 1607 to 1776 b in the Antebellum period 1780 1860 i Review the conventional view ii Review the divergent plotlines after 1807 iii Review the work of Paul David 1967 c in the post Civil War era 1865 to the present Be sure to explain the primary sources of economic growth over this time period Hint the primary sources are either extensive or intensive growth You need to defend which source you identify as being primary Atack and Passell 1994 identified several events that caused GNP to deviate from its longrun trend a List five 5 events in chronological order that caused GNP to increase beyond its longrun trend from 1790 to 1990 b List five 5 events in chronological order that caused GNP to decrease from its longrun trend from 1790 to 1990


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