Lecture0_2009fall - Welcome to Ec 183 Development of...

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Welcome to Ec 183 Development of Economic Institutions in the United States Welcome to Ec 183 Development of Economic Institutions in the United States • Professor Leah Boustan • Class: Tuesday, Thursday 9:30-10:45 am • Office Hours: Thursday: 11:00-12:15 in 9262 Bunche Hall • Email: lboustan@econ.ucla.edu – 24 hour response (M-F)
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Brief announcement • The class is currently oversubscribed. If you are planning to drop the class, please do so ASAP to give other students on the waiting list a chance to enroll. • I cannot assign PTE numbers. • Note that waiting list is automatically cleared by registrar after first two weeks. Take this into account when planning your quarter! Today’s agenda • A taste of economic history • Administrative details • Course overview and syllabus • Close reading skills
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What is economic history? The use of economic theory and quantitative evidence to understand the historical development of world economies A few questions to get us started • In 1700, income per resident was higher in many New World colonies (e.g., Barbados, Cuba) than in the US. How did the US pull ahead? • Despite the “Internet revolution,” productivity is lower now than in the 1950s and 1960s. Compared to great inventions of the past, is the electronic age a bust? • Many early American corporations were financed by banks that were owned by members of the CEO’s family! Is this corruption? Did this “insider lending” retard growth?
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GDP per capita in the Western Hemisphere 0 20 40 60 80 100 120 140 160 180 1700 1800 1900 1997 Argentina Mexico Barbados Cuba Brazil United States = 100 Source: Sokoloff and Engerman (2000) Administrative details
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This note was uploaded on 10/28/2009 for the course ECONOMY 351 taught by Professor Korn during the Spring '09 term at Abraham Baldwin Agricultural College.

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Lecture0_2009fall - Welcome to Ec 183 Development of...

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