94356 - Evolution of the World Economy

Learning outcomes

The course aims at sketching the major steps that have shaped the world economy to its present configuration. The topics covered include the diversity of pre-modern economies, the impact of colonialism, the birth of the modern economy in Europe, the varieties of forms of enterprise and of national approaches to the governance of the economy and the role of international crises. At the end of the course the student will have a better knowledge of the major economic challenges to be faced today.

Course contents

The themes covered are the following:

1.The pre-industrial economy and the preparation of the "great divergence" of Europe. The role of institutions.

2. The British Industrial Revolution and the process of imitation

3. The second Industrial Revolution, the rise of USA and the creation of an international economy

4. World War I and its effects

5. The first major world crisis starting in 1929 and its economic and political impact to WWII

6. The birth of a new international economic order, the golden age and the process of European economic integration

7. The third industrial revolution and the return of instability: globalization, financialization, the demise of Soviet Union and its legacy

8. New protagonists of the "great convergence": the developing world, the rise of Asia

9. A polycrisis world: the 2008 financial crisis, the Covid19 pandemic, wars.

10. The present day challenges: the fourth industrial revolution, AI, the environment. How not to destroy humanity

Readings/Bibliography

V. Zamagni, An Economic History of Europe since 1700, Agenda Pub., 2017

Additional bibliography will be supplied by the teacher to each student to deal with the topic selected for the final paper.

Teaching methods

Lectures and in class discussions

Assessment methods

The exam consists of a final paper of at least 6000 words on a topic selected by the student within the themes developed during the course to be agreed upon with the teacher, who will help with the bibliography. The paper must be delivered by email to the teacher within June 30 2025.

Office hours

See the website of Vera Negri