This course applies a long run comparative, institutional and structural perspective and considers alternative aspects of economic and social sustainability. The course begins by providing a background to the prewar economy in the North through a summary of the relevant macroeconomic history from the second industrial revolution through the intra war period. Beginning with the 1940s, it analyses changes in the international economy up until the present. Eras of growth and depression are addressed and consideration is given as to why various regions may have been included or excluded from the growth processes during alternative periods. Likewise, attention is given to periods of economic integration and disintegration through the course of modern economic history. Convergence and divergence in income levels between countries and economic growth rates relative to other OECD countries are also studied during the course.
Following the failures and tragedies of the intra war period 1914-1945, integration, international trade and economic growth became political goals, despite the long history of geo-political boundaries within Europe. Under the duration of the course, the most important postwar international agreements with respect to international trade, monetary regimes and integration are reviewed. The depth and breadth of European integration is studied with a focus on the economic aspects such as growth, trade and monetary challenges. Other related problems such as political economy, labour market issues and the development of alternative European social models are also included in the course.