This course deals with historical perspectives on the development of capitalism - today's dominant system in the world economy - with perspectives from the late Middle Ages to the present day. The historical dynamics between capital, production, environmental impact and institutions are explored over time, as well as the role of the state and firms. Furthermore, factors behind economic growth, globalization and sustainability are identified and analyzed, focusing on the basic mechanisms and consequences of capitalist development. The course explores questions about the significance of capitalism for the emergence of modern economic growth, its spread and the existence of different varieties of capitalist systems, including periods of globalization. The link between economic growth, institutional change and environmental consequences also raises questions about whether capitalism has been and can be sustainable in the long run. The course is divided into four broader themes: 1) The emergence of modern growth; 2) The Political Economy of Capitalism; 3) Capitalism and sustainability; 4) In-depth individual assignment.
After completing the course, the students have achieved In-depth knowledge and understanding: 1. Demonstrate knowledge and understanding of the factors behind modern economic growth and the rise of capitalism. 2. Demonstrate knowledge and understanding of the consequences of modern growth with regard to sustainability. 3. Demonstrate knowledge and understanding of the explanations behind various capitalist systems in the global economy.
In-depth skill and ability: 4. The student must demonstrate the ability to apply theoretical and empirical knowledge to critically analyze long-term economic change and growth processes, including institutional change, globalization and sustainable development.
Evaluation ability and approach: 5. Be able to critically and independently identify, assess and use different explanatory models and empirical data to investigate an economic-historical problem within the framework of the course themes.
