Outlines of the Lectures and Supplemental Notes

Outlines of the - Outlines of the Lectures and Supplemental Notes American Economic History Spring 2011 Professor Rockoff Last Updated Monday Below

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1 Outlines of the Lectures and Supplemental Notes American Economic History Spring 2011 Professor Rockoff Last Updated: Monday, January 17, 2011 Below are brief introductions to the lectures and outlines of each lecture. Some of the outlines include more detailed notes concerning points that are not covered in the textbook. From time to time during the semester I will update these outlines so they correspond to what was discussed in class this semester. 1. The American Economy in Historical Perspective (January 18, 2011) It is important to learn the basic periods of American History and to begin putting events, as we study them, into their time slot. That means you will have to memorize when things happened. The dates of many of the periods are only approximate, hence the question marks. 1. The American Economy in Historical Perspective (January 18) It is important to learn the basic periods of American History and to begin putting events, as we study them, into their time slot. That means you will have to memorize when things happened. The dates of many of the periods are only approximate, hence the question marks. Colonial Period Revolutionary War (1775-1783) Federalist Era (1789-1801)? Early National Period (1783-1828)? Antebellum Era (1829-1860)? Civil War (1861-1865) Reconstruction (1865-1877) Postbellum Era (1866-1900)? The Gilded Age (1870-1900)? Progressive Era (1900-1917)? World War I (1917-1918) Interwar Period (1919-1939) World War II (1941-1945) Postwar era (1945+)
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2 2. Mercantilism (January 21) 1. Definition of Mercantilism 2. What were the ultimate goals of the mercantilists? Military power Full employment An inflow of gold and silver Sir James Steuart 3. Examples of mercantilism Navigation Acts Enumeration Hat Act Iron Act 4. The critique of mercantilism and the birth of modern economics Adam Smith Laissez-faire 5. Measuring the costs and benefits of mercantilism 6. The bottom line
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3. The Economics of the Revolutionary War (January 25) In this lecture I look at the causes of the Revolution, in particular British land policy, and then at how the United States was able to mount an effective military action despite its governmental and financial weaknesses. 1. Economic Causes of the War A. Mercantilism? B. The New Colonial Policy C. Restrictions on Western Settlement 2. The Economic Problems Faced by the Colonists A. The British economy was larger B. U.S. lacked a Navy, while the British had the world’s best C. U.S. lacked a good tax system 3. Raising an Army A. Militia B. Regular Army C. Conscription 4. Building a Navy A. Regular Navy B. Privateers 5. Building an Air Force 6. Financing the War A. Taxing B. Borrowing C. Printing Money 7. Economic Consequences of the War A. Mercantilist trade restrictions removed B. Restrictions on Western settlement are removed Note on Conscription. The following diagram illustrates the market for soldiers during the Revolutionary War.
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This note was uploaded on 03/23/2011 for the course ECON 100 taught by Professor Paul during the Spring '11 term at Rutgers.

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Outlines of the - Outlines of the Lectures and Supplemental Notes American Economic History Spring 2011 Professor Rockoff Last Updated Monday Below

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