ECONOMIC AND BUSINESS HISTORY

In line with the learning objectives of the Bachelor’s Degree in Business Administration and Management, the course Business and Economic History provides an overview of major economic, technological and organizational changes in the long run. The course contributes to students’ business and economic education by offering tools to understand the evolution of economic systems, firms, markets and institutions from the early modern period to the contemporary era. Special attention is devoted to industrial and technological revolutions, processes of globalization, the Great Divergence and the Great Convergence, as well as to the role of entrepreneurs, firms and institutions in economic development.

By the end of the course, students will be able to:

1) distinguish, compare and assess the main theoretical approaches to the study of economic and business history, as well as the empirical tools used in the discipline;
2) recognize and describe the most important economic, industrial, technological and organizational changes that took place from the early modern period to the contemporary era;
3) explain historical economic dynamics as the result of the interaction among different variables, including markets, firms, institutions, and technologies;
4) identify the role of institutions as the “rules of the game” of economic and business life, and recognize the main changes in firms’ structure, organization and strategies;
5) comment on and discuss case studies in economic and business history, analyzing them in relation to their historical context, the sources used to reconstruct them and the methodology adopted.

The course is addressed to students who do not necessarily have previous knowledge of economic history or business history. However, Ca' Foscari students are required to have passed the Microeconomics exam. Since the course is taught in English, students are expected to have an adequate command of English in order to read the course materials, participate in classroom activities and take the final examination.

The course is organized over five weeks and follows a chronological and thematic path fro the pre-industrial economy to contemporary global capitalism. Its main thread is the historical explanation of economic growth: why some countries became rich before others, why the Industrial Revolution first occurred in Western Europe, and how other countries later tried to catch up.
Week 1 — Firms, markets and economic organizations before industrialization
The first week introduces the course, its objectives and the “rules of the game”. Lectures present the main features of pre-industrial economies and the forms of economic organization in the Middle Ages and the early modern period, including artisan workshops, guilds and merchant firms. The road to the First Industrial Revolution will also be discussed, with attention to proto-industrialization, market expansion, labour and the limits of pre-industrial growth.
Week 2 — The First Industrial Revolution and the Great Divergence
The second week focuses on the origins and main features of the First Industrial Revolution, the role of the entrepreneur, technological innovation and the factory as a new form of production organization. The course also addresses the Great Divergence, discussing why parts of Western Europe, especially Britain, industrialized earlier than other regions. Wages, energy prices, markets, institutions and technology will be considered as key factors. Student presentations on selected case studies agreed with the instructor are included.
Week 3 — The Second Industrial Revolution, first globalization and big business
The third week examines the transition from the First to the Second Industrial Revolution and the emergence of new sectors, technologies and forms of business organization. Lectures discuss the role of railways, infrastructures, national and international markets, and the rise of the United States in the development of the modern large corporation. Attention will also be paid to first globalization, Britain’s relative decline and the rise of new industrial powers such as the United States and Germany. Student presentations are included.
Week 4 — The American century, big business and catching up
The fourth week analyzes the consolidation of United States economic and industrial leadership in the twentieth century. Lectures address big business, managerial capitalism, multidivisionalization and multinationalization. The course also examines the twentieth century as a century of catching up, that is, of attempts to reduce the gap with richer countries. Student presentations on selected case studies agreed with the instructor are included.
Week 5 — Second globalization, the Great Convergence and contemporary technological revolutions
The fifth week deals with second globalization and the transformation of the world economy between the late twentieth and early twenty-first centuries. Lectures discuss the neoliberal turn, the expansion of free trade, the international reorganization of production, the rise of China and the processes of Great Convergence.

textbook
Robert C.Allen, Global Economic History. A Very Short Introduction, Oxford University Press, 2011
Selected chapters or extra support from:
Amatori, Franco & Andrea Colli, Business History. Complexities and Comparisons, London, Routledge, 2011.
Amatori, Franco & Andrea Colli, eds., The Global Economy. A concise history, London, Routledge, 2019 and Torino, Giappichelli, 2017.
Jones, Geoffrey, Multinationals and Global Capitalism. From the Nineteenth Century to the Twenty-First Century, Oxford University Press, 2004.
McCraw, Thomas, Creating Modern Capitalism, Harvard University Press, 1997.

Assessment is based on a group presentation and a final written examination, in order to evaluate the expected learning outcomes in a coherent way.
Group presentations assess students’ ability to comment on and discuss case studies in economic and business history, placing them in their historical context and identifying the theoretical framework, sources, methodology and main findings. Presentations also assess communication skills, the appropriate use of the discipline’s terminology and the ability to engage in critical discussion.
The final written examination assesses students’ knowledge of the course contents and their ability to apply concepts and interpretive tools from economic and business history.
The exam may include true/false questions requiring explanation, multiple-choice questions and/or open questions. Questions are designed to assess students’ ability to recognize and describe major economic, industrial, technological and organizational changes; explain historical dynamics as the result of the interaction between markets, firms, institutions, technologies and states; identify the role of institutions; and understand changes in firms’ structure and strategies.
Assessment will consider the accuracy of knowledge, the ability to connect historical processes and interpretive categories, clarity of argument and the appropriate use of the language of economic and business history.

written

The instructor is responsible for ensuring the authenticity and originality of all examinations and coursework. In cases of suspected academic misconduct, an additional on-site assessment may be required during the exams, which may differ from the standard format.

Regarding grade grading (mode by which grades will be assigned), regardless of attending or non-attending mode:
A. scores in the 18-22 range will be awarded in the presence of:
- sufficient knowledge and applied comprehension skills with reference to the syllabus;
- limited ability to collect and/or interpret data, making independent judgments;
- sufficient communication skills, especially in relation to the use of specific language pertaining to the history of economics and technology;
B. scores in the 23-26 range will be awarded in the presence of:
- fair knowledge and applied comprehension skills with reference to the syllabus;
- discrete ability to collect and/or interpret data, making independent judgments;
- fair communication skills, especially in relation to the use of specific language pertaining to the history of economics and technology;
C. scores in the 27-30 range will be awarded in the presence of:
- good or excellent knowledge and applied comprehension skills with reference to the syllabus;
- good or excellent ability to collect and/or interpret data, making independent judgments;
- fully appropriate communication skills, especially in relation to the use of specific language pertaining to the history of economics and technology.
D. honors will be awarded in the presence of knowledge and applied understanding with reference to the syllabus; excellent judgment and communication skills.

The course is organized by alternating lectures, guided discussions, in-class and online exercises, and case-study presentations. Lectures introduce the main concepts, historical processes and interpretive frameworks of economic and business history. Guided discussions and exercises foster students’ active participation and the application of theoretical and empirical tools to concrete historical problems and processes. Case-study presentations allow students to explore specific examples of economic, industrial, technological and organizational change, while developing critical analysis, argumentation and communication skills.

This subject deals with topics related to the macro-area "Poverty and inequalities" and contributes to the achievement of one or more goals of U. N. Agenda for Sustainable Development