Programme Curriculum for Master Programme in Economic History 1. Identification Name of programme Scope of programme Level Programme code Master Programme in Economic History 60/120 ECTS Master level Decision details Board of the School of Economics and Management, 13 April, 2007 Amendment details Board of the School of Economics and Management, 19 December, 2007, 10 April, 2008, 11 June, 2009, 16 June, 2011, 24 September 2012, 2. Programme description The programme in economic history provides knowledge of the general history of production and distribution, population and living standards, institutions and social organisation. The programme offers knowledge to carry out investigations and analyses concerning changes of social and economic conditions under different circumstances. The programme includes core courses dealing with population and living standards, institutions and economic growth, as well as the international economy and globalisation. To these can be added optional courses within a broad range of topics. In order to provide the students with excellent abilities for independent work, methodological issues in both qualitative and quantitative terms have a central place. Career opportunities Graduates of this programme are particularly equipped for analytical work in private business as well as government organisations and publishing that requires capability of intellectual judgement, evaluation and analysis of economic facts and ideas, and good communication skills. Connection to further studies Successful completion of the programme will enable students to apply to doctoral programmes in economic history. 1
3. Learning outcomes The programme builds on previous studies at the undergraduate level in social sciences. In accordance with the Higher Education Ordinance, a Master of Science (120 credits) is awarded to students who at the completion of the programme accomplish the following: Knowledge and understanding - demonstrate knowledge and understanding in the field of Economic History, including both broad knowledge in the field and substantially deeper knowledge of certain parts of the field, together with deeper insight into current research and development work; and - demonstrate deeper methodological knowledge in the field of Economic History - demonstrate knowledge about the methodology of historical analysis by qualitative as well as quantitative means - demonstrate knowledge about the general history of production and distribution, population and living standards, institutions and social organizations - demonstrate knowledge about factors that have influenced social and economic change Skills and abilities - demonstrate an ability to critically and systematically integrate knowledge and to analyse, assess and deal with complex phenomena, issues and situations, even when limited information is available; - demonstrate an ability to critically, independently and creatively identify and formulate issues and to plan and, using appropriate methods, carry out advanced tasks within specified time limits, so as to contribute to the development of knowledge and to evaluate this work; - demonstrate an ability to clearly present and discuss their conclusions and the knowledge and arguments behind them, in dialogue with different groups, orally and in writing, in national and international contexts; and - demonstrate the skill required to participate in research and development work or to work independently in other advanced contexts. - demonstrate an ability to work individually as well as in groups with students from different cultures in order to solve practical problems as well as to manage a more extensive project. Judgement and approach - demonstrate an ability to make assessments in the field of Economic History, taking into account relevant scientific, social and ethical aspects, and demonstrate an awareness of ethical aspects of research and development work; - demonstrate insight into the potential and limitations of science, its role in society and people s responsibility for how it is used; and - demonstrate an ability to identify their need of further knowledge and to take responsibility for developing their knowledge. Independent project (degree project) For a Master of Science (120 credits) students must have completed an independent project (degree project) worth at least 30 higher education credits in the field of Economic History, within the framework of the course requirements. The independent project may comprise less than 30 higher education credits, but not less than 15 higher education credits, if the student has already completed an independent project at the second level worth at least 15 higher education credits in their main field of study. Students have the possibility to leave the programme after one year and in accordance with the Higher Education Ordinance obtain a Master of Science (60 credits) with a major in Economic History. The degree is awarded to students who at the completion of the programme accomplish the following: 2
Knowledge and understanding - demonstrate knowledge and understanding within the field of Economic History, including both a broad command of the field and deeper knowledge of certain parts of the field, together with insight into current research and development work; and demonstrate deeper methodological knowledge in the field of Economic History - demonstrate knowledge about the methodology of historical analysis by qualitative as well as quantitative means - demonstrate knowledge about factors that have influenced social and economic change Skills and abilities - demonstrate an ability to integrate knowledge and to analyse, assess and deal with complex phenomena, issues and situations, even when limited information is available; - demonstrate an ability to independently identify and formulate issues and to plan and, using appropriate methods, carry out advanced tasks within specified time limits; - demonstrate an ability to clearly present and discuss their conclusions and the knowledge and arguments behind them, in dialogue with different groups, orally and in writing; and - demonstrate the skill required to participate in research and development work or to work in other advanced contexts. - demonstrate an ability to work individually as well as in groups with students from different cultures in order to solve practical problems as well as to manage a more extensive project. Judgement and approach - demonstrate an ability to make assessments in the field of Economic History, taking into account relevant scientific, social and ethical aspects, and demonstrate an awareness of ethical aspects of research and development work; - demonstrate insight into the potential and limitations of science, its role in society and people s responsibility for how it is used; and - demonstrate an ability to identify their need of further knowledge and to take responsibility for developing their knowledge. Independent project (degree project) For a Master of Science (60 credits) students must have completed an independent project (degree project) worth at least 15 higher education credits in Economic History, within the framework of the course requirements. 3
4. Course information The program has the following structure: Semester 1 (Autumn), year 1 Semester 2 (Spring), year 1 Period 1 Sept-Oct Period 2 Nov-Dec Period 3 Jan-March Period 4 April-May EKHM20 Comparative analysis of economic change 7.5 ECTS EKHM30 Population and living standards 7.5 ECTS EKHM43 The global economy and long-term economic growth 7.5 ECTS Paper and/or degree project 15 ECTS Optional course 7.5 ECTS Optional course 7.5 ECTS Optional course 7.5 ECTS Semester 1 (Autumn), year 2 Semester 2 (Spring), year 2 Period 1 Sept-Oct Period 2 Nov-Dec Period 3 Jan-March Period 4 April-May EKHM25 Econometrics 7.5 ECTS Optional course 7.5 ECTS EKHM42 Institutions, economic growth, and equity 7.5 ECTS Degree project 15 ECTS Optional course 7.5 ECTS Optional course 7.5 ECTS Optional course 7.5 ECTS EKHM20 Comparative Analysis of Economic Change (7.5 ECTS) This course introduces major themes in economic history and how these have been approached in research. Explorative methodologies versus hypothesis testing are discussed. It is studied how data are obtained, analysed and interpreted by researchers. Basic concepts of quantitative analysis are introduced and applied in exercises. Course description Economic history is at the crossroads of several disciplines but it has its own typical methodology and analytical instruments. Approaches as different as those emphasising institutions or culture, equilibrium models, evolutionary and structural analysis are used, yet often with a long-term perspective and employing diverse quantitative methods. This course introduces major themes in economic history and how these have been approached in research. Explorative methodologies versus hypothesis testing are discussed. Furthermore it is studied how data are obtained, analysed and interpreted by researchers. Basic concepts of quantitative analysis are introduced, such as qualities of the data, sampling and statistical distributions, correlation, and regression. Students will learn about the use and limitations of different methods in two ways. One is through exercises performed with the help of computers. The other is through the deconstruction of works in economic history that have used quantitative techniques. EKHM30 Population and living standards (7.5 ECTS) This course deals with the interplay between population and living standards in a long-term perspective. It focuses on three broader themes. In the first, different models of the pre-industrial economic demographic system are studied, and the legacy of these models (e.g. Malthusianism) and 4
their relevance today is assessed. Different demographic indicators of living standards, such as life expectancy, infant mortality and demographic responses to economic fluctuations, are discussed and compared with other well-being indicators in an assessment of the long-term global development of standard of living. The second theme deals with the importance of population dynamics, especially fluctuations in fertility, and thus cohort size, on living standards in industrial society. The third theme focuses on the role of families and households in providing welfare and security of its members. Both the development over time and global comparisons are central in this theme. Course description The relationship between population and economy has, ever since Malthus, had an important place in the social sciences. The importance of these issues is also clearly evident today when effects of an aging population, variations in fertility, migration, new family patterns and changed gender roles as well as economic and social effects of immigration are burning issues in many Western societies. Also in the developing world the connection between population and economy in a wide sense is at the top of the political agenda. High rates of population growth and its effects on economic development and the environment are still pressing issues in some parts of the world. The popular debate, as well as a fair amount of research, however, is characterized by a very short-term perspective focusing a great deal of attention on events and patterns of the immediate past when drawing conclusions and making projections about what the future will be like. The purpose of this course is to give a theoretical as well as empirical base of knowledge on these issues, by focusing on the interplay between population development and the standard of living in an historical as well as global perspective. The course deals with the driving forces behind the long-term development of world population as well as shorter term cycles. It also discusses explanatory models linking population development to economic and social change. The course is structured around three different themes. The first deals with the pre-industrial economic-demographic system. Different models relating population and economic development in the long term are discussed and evaluated. Special attention is devoted to the Malthusian model and its critics. The historical and contemporary realities in different parts of the world are also studied in the light of the theoretical models. An important part of this theme is the long-term development of living standards in different parts of the world, and especially how demographic indicators are crucial dimensions in assessing living standards. Standard demographic measures, such as life expectancy, infant- and maternal mortality, and the demographic sensitivity to short-term economic fluctuations, are compared with more traditional indicators of living standards (real wages, GDP/capita, etc.) in an historical comparison of living standards in East and West. The second theme deals with the link between population and living standards in industrial societies, focusing especially on the effects of variations in fertility, and thus cohort size, on different demographic and economic outcomes. The determinants of fertility variations as well as the effects of variations in cohort size will be analysed in detail, using theoretical models and empirical illustrations from different parts of the Western world. The third theme deals with the role of families and households in providing welfare for its members. Before the development of modern markets and welfare states the families and households play a decisive role in providing a range of welfare functions for its members in times of sickness, unemployment, old age, etc. Household and family organization shows a great deal of variability across time and space. This theme is devoted to a study of these differences and the impact on living standards, and the more general economic and demographic development, through marriage systems, risk management, welfare production, etc. Special attention is given to gender aspects and the impact of economic modernization on the household and family systems. The impact on well-being of the profound changes in Western demography in what has been called the second demographic 5
transition, e.g. increased divorce, non-marital cohabitation, and increased number of single-person households, is also discussed. EKHM43 The global economy and long-term economic growth (7.5 ECTS) This course studies historical processes of growth, convergence and divergence in the global economy over the past two centuries. Two different approaches are applied. One considers theories of economic growth, about how production is generated by capital and labour and the level of technology. The other takes the perspective of the international economy and studies international trade, migration, and movements of capital. Course description Over the past centuries the economic development of regions and countries in the world can be described by the concepts divergence and convergence. On the one hand, the gap between poor and rich countries has tremendously widened since 1800. On the other hand, with the passing of time has country after country among the poor commenced to catch-up with the richer countries and thereby signified cases of convergence. Still the majority is poor but of utmost importance is that countries such as India and China, together having more than one third of world population, now are in a process of catch-up with the rich countries. This course studies the global economy since 1800 from the aspect of production and distribution of income. Technical change, whether conceived as different technical paradigms, general purpose technologies, or development blocks, are fundamental for the growth of production. The distribution of income concerns the division of output between capital, labour, and human capital. Furthermore, it concerns international movements of capital and labour as well as price relations in international trade. Two different approaches are applied. One takes its point of departure in theories of economic growth, about how production is generated by capital and labour and the level of technology. The first generation of formal models, in the 1950s, based on this approach predicted a convergence towards the growth and income level of the richest country in the world. The study of the historical record transmitted, however, another picture and this encouraged further development of theories. Recent generations of growth models thus allow for income divergence among countries. The other approach takes its point of departure in theories about the international economy. Determinants as well as effects of international trade, migration, and movements of capital are studied. Historically the reduction of transport costs and improved communication technology as well as institutional restrictions for trade, migration and capital movements have conditioned the expansion of the international economy. Open economy forces have had a tremendous impact on factor prices, that is, on the earnings of labour and the cost of capital. With the application of the two approaches the course studies historical processes of growth, convergence and divergence in the global economy. A quantitative methodology is used as a way to structure and compare the historical evidence. The students will learn about available databases and how to use these. EKHM25 Econometrics (7.5 ECTS) This course provides the student with a fundamental understanding of the theoretical and methodological problems associated with quantitative approaches to economic history. The first part consists of theory and methods relating to multivariate linear regression, limited dependent variable regression and basics of time series analysis. It also considers how to apply these methods, with examples of how such methods are used in economic demography and economic history. This part 6
also introduces computer software (STATA or comparable) for quantitative analysis. In the second part of the course, students analyze a quantitative problem using actual data from economic demography or economic history, and report results in individual papers. EKHM42 Institutions, economic growth and equity (7.5 ECTS) This course studies the relations between institutions, modern economic growth, and equality. Problems in the world of today are taken as a point of departure for an historical analysis that covers countries and regions in different parts of the world. Four themes are focussed. One is about the emergence of institutions such as property rights and markets, and their role for economic growth. The second is about the importance of the distribution of resources for institutional development. The third is about the importance of the growth of knowledge and education for the creation of equality of opportunity. The fourth is about the emergence of the modern welfare state as well as current challenges to its future. Course description Strong evidence suggests that the quality and efficiency of a country s institutions, such as law enforcement, property rights, and civil rights, are significant determinants of its growth performance. However, also the reverse relationship can be found and evidence shows that economic change may cause individuals to work for the improvement of institutions. The latter is particularly relevant for the emergence of public sector institutions for the provision of social security, education and health care. Furthermore, the extent of inequality in a society is highly related to both the quality of institutions and economic growth. This course studies the relations between modern economic growth, institutions, and equality. Problems in the world of today are taken as a point of departure for an historical analysis. The perspective is comparative, that is, countries and regions in different parts of the world are treated. Four main themes are followed. One is about the emergence of institutions to defend property rights. This is a major theme in explanations of how the west advanced ahead of other parts of the world. Property rights are studied in a broader institutional context with particular consideration of markets and land ownership. The interplay between these institutions and equality is highlighted in comparative study of historical and recent cases. A third is about institutions and the growth of useful knowledge, that is, knowledge which has been and still is crucial for human capital and modern economic growth. The historical emergence of modern science in Europe is studied as well as the spread of literacy and education. A fourth theme is about the modern welfare state, made possible by modern economic growth but according to critics posing constraints on sustained economic growth. The role of the welfare state for creation and maintenance of human and social capital is examined. 5. Degree Upon completion of the programme a Master of Science (120 credits) major Economic History (filosofie masterexamen, huvudområde: ekonomisk historia) will be awarded in compliance with the National Higher Education Ordinance (SFS 2006:1053). Students can also decide to finish after the first year with a Master of Science (60 credits) with a major in Economic History (filosofie magisterexamen, huvudområde: ekonomisk historia). 7
6. Admission requirements and selection criteria a) An undergraduate degree (BA/BSc) of at least 3 years, 180 ECTS credits, including at least 60 ECTS credits in either economics, economic history, history, statistics, or the equivalent knowledge. b) A good command of English language both spoken and written, equivalent to English course B (advanced level) in the Swedish secondary system. Equivalence assessments will be made according to national guidelines. The regulations in the general requirements concerning knowledge of the Swedish language are not applicable for international applicants. Selection criteria Selection will be based on academic merits from university studies and a Statement of Purpose in which applicants should state their reasons for applying to the programme. 7. Other information Courses at the School of Economics and Management are graded according to the criterion-referenced principal grades A-F: GRADE POINTS CHARACTERISTIC A Excellent 100-85 A distinguished result that is excellent with regard to the following aspects theoretical depth, practical relevance, analytical ability and independent thought. B Very good 84-75 A very good result with regard to the above mentioned aspects. C Good 74-65 The result is of a good standard with regard to the above mentioned aspects and lives up to expectations. D Satisfactory 64-55 The result is of a satisfactory standard with regard to the above mentioned aspects and lives up to expectations. E Sufficient 55-50 The result satisfies the minimum requirements with regard to the above mentioned aspects, but not more. F Fail 49-0 The result does not meet the minimum requirements with regard to the above mentioned aspects. It is up to the teaching professor to decide whether the credits of a course should be converted into a total of 100 points for each course, or if the scale above should be used as percentage points of any chosen scale instead. Disciplinary actions against plagiarism The University views plagiarism very seriously, and will take disciplinary actions against students for any kind of attempted malpractice in examinations and assessments. The penalty that may be imposed for this, and other unfair practice in examinations or assessments, includes suspension from the University. 8