Course Description:

Today's standard of living and economic institutions represent the cumulative efforts of over two centuries of individuals striving to improve things for their children and their children's children. Development of the U.S. Economy tells their story, beginning from the 19th century, using the tools of economic theory and empirical research. Emphasized are growth of the country's resource base, increases in productivity through invention and innovation, improvements in transportation, and labor's struggles and important contributions. The course also traces the development of monetary institutions and policies, beginning with a money supply based on the gold standard. It examines and evaluates the controversies surrounding policy making that guided economic growth.

Students successfully completing the course will have gained an understanding of the origins and the development of the modern economy. They will gain insight into how theoretical and empirical tools of economics can shed new light on old questions.

Prerequisite: Econ 100

Grades determined by performance on three exams and three short essays using original historical materials.