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Class01_Introduction

Class01_Introduction - Development of Economic Institutions...

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2010-04-06 1 Development of Economic Institutions in Western Europe: Introduction 1. Course Description and Administration 2. Why Economic History? 3 What is Economic History? 3. 4. Some Examples of Research Course Description Economics 181B: Development of Economic Institution in Western Europe. Overview of the economic history of Western Europe from the Medieval period to the early twentieth century. Understanding of long-term changes in economic institution and human standards of living.
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2010-04-06 2 Administration Class Website: http://classes.sscnet.ucla.edu/course/view.php?name=1 0S-ECON181B-1 b k d No textbook; Reading assignments Lecture notes will be posted. Evaluation: midterm exam (40%); final exam (60%). A Note on Academic Honesty: Cheating will be treated seriously, and suspected incidents will be referred automatically to the Dean of Students. Office Hours: Tuesday 2:30-3:45 PM; or by appointment. 1. Why Economic History? What is the most important determinant of a person’s fate (especially in terms of economic well being)? fate (especially in terms of economic well-being)?
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2010-04-06 3 When were you born? Where were you born?
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2010-04-06 4 Top 5 nations: Andora (82.5), Japan (82.1), Singapore (82.0), San Marino (82.0), Australia (81.6) Bottom 5 nations: Swaziland (31.9), Anglola (38.2), Zambia (38.6) Mozambique (41.2), Sierra Leon (41.2) * U.S. (78.1, 38 th ), South Korea (78.7, 27 th ) Geography? National Heritage? Gene? The Case of Two Koreas They were the same country under the Japanese colonial regime until 1945. Industrial facilities were colonial regime until 1945. Industrial facilities were concentrated in the North where wage was higher. Socioeconomic Indicators in 2003 South North Real GDI per capita ($) 17047 1429 Infant deaths per 1000 5 42 Under-5 deaths per 1000 5 55 Life expectancy 78 64 Daily caloric consumption 3040 2160 Daily protein consumption 89 63
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2010-04-06 5 The Average Height of South and North Korean Boys Source: Pak (2010) Satellite Photo of the Korean Peninsula
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2010-04-06 6 Major Questions in Economics and Broader Social Sciences How can we explain the long-term economic development in the world? Why did some nations become rich while others remained poor? Contributions of Economic History to the Issues of Wealth and Poverty of the World Economics of growth and development has not be so successful in answering these questions. There is no good blue print for development There is no good blue print for development. The “Washing Consensus,” recommending open market, deregulation, balanced budget, and “good” institutions, doesn’t seem to have a good track record. Contributions of economic history: 1. The origins of economic development and inequality within and across countries. 2. The patterns and causes of long-term changes in economic structure and institutions.
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2010-04-06 7 Specific Topics of This Course (1) Introduction Why economic history?
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