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ECON 4850 - THE FIRST INDUSTRIAL REVOLUTION
Professor George Selgin
Terry College of Business Rm. 525
542-2734
Selgin@uga.edu

Course Description: This is a class devoted to learning about the momentous changes in economic organization and technology, and the tremendous gains in economic productivity, that took place in Great Britain between 1760 and 1830—a period that has come to be known as the (first) Industrial Revolution.  The class addresses several major questions: (1) What changes took place, and in what sense were they "revolutionary"?; (2) Why did these changes occur?; (3) Why did they first occur in Great Britain, rather than elsewhere? (4) What were the changes economic and social consequences (in particular, can they be said to have improved laborers' living standards)?; and (5) Why, despite the Industrial Revolution, does so much of the world remain mired in poverty to this day?

These are obviously very big questions, which have been the subjects of ongoing debates even among experts.  So we can't pretend to come up with definite answers.  But in addressing them we can at least hope to learn something about the process of industrialization and its bearing on the problem of world poverty.

Requirements:  The course will be in the manner of a seminar, with short (30-45 minute) lectures , perhaps including a brief student presentation on some particular topic, followed by general discussion periods, with discussions informed by assigned readings.  I will serve as a sort of traffic-cop in directing the discussions, but otherwise I intend to let students do most of the talking.  It is therefore essential that students prepare for each class meeting by reading assigned materials in advance.  I ask that all students to come to class with two carefully thought-out questions to be raised during the discussion period. We may not be able to cover all questions, but I will call on students randomly for their input.  I ask that students contribute to addressing questions raised by fellow students.  The class participation grade, which is worth up to 25 points, or 25 percent of the overall grade, will depend on your contributions to these discussions.  Attendance of all classes  is expected.

Apart from class participation, grades will depend on short presentations and participation in class debates (discussed below), on two mid-term exams (worth up to 15 points each) and a final exam (worth 30 points or 30 percent of the overall grade).  The exams will probably consist of two or three short-essay questions, and may be offered on a take-home basis, but the final format of the exams remains open.  Students also have the option of submitting up to two 5-6 page book reports, worth up to 20 points each, which can serve as substitutes for either of the mid-term exams.  Books may address important persons, industries, or controversies relating to the British Industrial Revolution.  In any case the books chosen must be approved by me in advance.  In general the first report must be submitted no later than the due date of the first mid-term, and the second must be submitted no later than the due date for the second mid-term.  Exceptions may be made for students who miss exam deadlines owing to documented medical emergencies only.  Please note that, once an exam or report is submitted, the grade is final, and that exams cannot be made-up under any circumstances.

Short Presentations:  Occasionally I will invite a student to make a brief (10-15 minute) presentation on a particular subject related to a lecture topic.  I will generally try to seek volunteers for such assignments a week in advance of the lecture.  Please note that not all students can have this opportunity, so take advantage of it when you can!

Debates: I hope that we can hold at least two in-class debates.  These will involve teams of 5 members each; consequently if we have two debates up to 20 persons can participate.  Those not participating in any particular debate will serve as "jury" members, who will determine the winner of the debate.   Team members who perform adequately will receive 15 points credit, with winning members receiving an additional 5 point bonus.

Grades: To summarize, the (maximum) grade breakdown is as follows:

                                    Basic Participation:                 25 points

                                    Short Presentation                 10 points

                                    Debates                                 20 points

Mid-Term (or Report) I            15 points

Mid-Term (or Report) II           15 points

Final Exam                              30 points

The letter grades will generally be based on standard 10-point intervals, e.g., 90 or above = A; 80-89 = B, and so on.  Note that it is possible to earn more than 100 points, but that doing so requires that one make a presentation or win a debate.

Materials:
The main text is Phyllis Deane, The First Industrial Revolution, 2nd. ed.  A supplementary text, David Landes, The Wealth and Poverty of Nations, can be purchased through Amazon.com for $11.87. Other assigned readings will be made available either through the University Library's e-reserve service or through my own web page.

 

Schedule and Reading Assignments:
Allowing for the opening class, for breaks and hilidays, and for some class periods when I will be absent from campus, we will have about 25 scheduled meetings; the first will be a general overview of the course plan while the rest will be devoted to specific topics.  The topics and assigned readings that go with them are listed here.  Remember, you must do all the readings in advance of the class meeting for which they are assigned.  Readings from the Deane, Hayek, and Landes books are indicated as "D-1," "H-1", or "L-1" (for Deane chapter 1 or Hayek chapter 1 or Landes chapter 1).  Other readings are listed by author and will be supplied electronically (use this link READINGS). You need the Username: gaselgin and the Password: gs4850