Not offered in 1996. Dr A J Seltzer A pass in a second or third year economic history subject or 316-201 Macroeconomics or 316-202 Micro-economics First semester Three hours a week of lectures/seminars To provide economics students with a long run perspective on current economic problems. To illustrate the importance of context (initial conditions) and structure (constraints) in analysing and understanding current economic problems. To apply microeconomic and macroeconomic theory and analysis to the historical roots of current economic problems. To widen and broaden the way economics students think about the economy and society by studying real-world economic problems. This is a thematic subject which identifies current economic problems which have occurred in the past. Topics covered include: the incidence, length and causes of unemployment in the 1990s and the 1930s; the international debt crisis of the 1980s, 1920s and the nineteenth century; issues in economic growth such as the rise of the West and the lag of the rest and why mature economies grow so slowly; bank failures in the 1980s, 1930s and 1890s depressions; technical regimes and path dependency; international trade blocs including ASEAN, US-Canada Free Trade Area and the Atlantic economy in the eigteenth century; booming sector models in Australia in the 1860s-70s and 1850s; the 'closedness' of Japanese economy to Western imports. Written work not exceeding 3,000 words (40%) and a 2-hour examination at the end of the semester(60%).