When historians study the economy they are interested in far more than the development of institutions like banks or stock markets, far more than the changes over time in indices of productivity or wealth. Instead, we want to understand how the very concept of a “stock” came to be, or how different people have understood the meaning of “productivity” in different times and places. The foundational premise of any good historical study of the economy is that this topic cannot be reduced to universalistic formulas, valid always and everywhere.

This course will teach you how the economies that we know today were created, exploring the complicated stories behind the values, social norms, power relations, and unstated assumptions that constitute economic life. We will shift back and forth from the macro level (examining long-term patterns and trends and grand economic theories) and the micro level (studying our everyday practices regarding things like money, jobs, or consumption). We will also go beyond the study of capitalist economics, exploring as well the socialist systems of the twentieth and twenty-first centuries. The readings for this class will consist mostly of primary sources, including the writings of famous economists, political manifestos dealing with economic policies, and first-hand accounts from workers, business-owners, merchants, bankers, union activists, and more.

Course Requirements:

Weekly quizzes, participation in an on-line discussion forum, required reading assignments with the Perusall annotation system, weekly in-person discussion sections. In addition to the four hours of class time, you can expect an average of four-five additional hours of reading, writing, and studying each week.

Intended Audience:

This class is appropriate for everyone; no previous study of economics or economic history is required or expected.

Class Format:

There will be no high-stakes midterm or final exams; instead there will be weekly online quizzes. Reading assignments will be posted online using the “Perusall” system, allowing you to comment on the texts, read and respond to each other’s observations, and pose questions to classmates and the professor. The class will include discussion sections, as well as an online discussion forum. Because the course is structured in this way, late enrollment beyond the second week is not possible.