The aim of this course is to provide students in the economics programme with a comprehensive overview of the most important periods in international and Hungarian economic history and economic policy; the factors shaping economic and social processes; the major interrelationships in economic development; the mechanisms underlying modern economic systems; and the challenges of the past and present. Owing to its theoretical and foundational nature, the course prepares students to understand and grasp the major trends in economic policy and in economic and social development, along with their characteristics, and to gain insight into the mechanisms of modernisation in the major economic sectors. By mastering the course content, students will be able to interpret, analyse, and explore creatively the characteristics of periods in economic history, the specific features of global economic processes, and the interrelationships between the development of national economic sectors within the global economic system.
Economic history (MATUBAN-ECOHISTO-1)
Basic data
Instructors
Course objectives
Course content
Lectures
Topics to be discussed: 1. Introduction – Approaches, Interpretations, Basic Concepts, and Paradigms 2. Empires and Eras 1. The Greek and Roman Empires, Europe 3. Empires and Eras 2 – China, United States 4. Transportation and Trade – the modernization of transportation, modern transportation and logistics, characteristics and forms of modern trade, global trade 5. Money, Capital, and Commodities – the history of money, the role of capital and commodities in the global economy, modern money 6. Industrialization and Modernization – theories and waves of the Industrial Revolution, the economic and social mechanisms of the Industrial Revolution 7. Crises, Wars, and Pandemics – the nature of economic crises, characteristics of the crises of 1873, 1929, and 1973, the impact of wars and pandemics on the modern global economy 8. Demography, Population Growth, and Migration – Demographic trends of the 20th century; population growth and migration challenges in the 21st century 9. Globalization, Sustainability – the concept and characteristics of globalization, sustainability 10. Economic History of Hungary – periods in Hungarian economic history and economic policy 11. The Context of 19th-Century Modernization – bourgeois transformation, the Austro-Hungarian Monarchy 12. The Economic and Social Impacts of World War I and World War II 13. Communism in Hungary and the Characteristics of the Socialist Economic System 14. The Economic and Social Consequences of the System Change
Acquired competences
Knowledge
Knowledge - Has knowledge of the basic, comprehensive concepts, theories, facts, national economic and international contexts of economics, as well as the relevant economic actors, functions, and processes. - Knows and understands the basic principles and methods of managing, organizing, and operating economic processes, the methodology of analyzing economic processes, and the methodological basis of decision preparation and decision support. - Possesses the basic professional vocabulary of economics in their native language and at least one foreign language.
Skills
- Using the theories and methods learned, they reveal, systematize, and analyze facts and fundamental relationships, formulate independent conclusions and critical observations, prepare decision-making proposals, and make decisions in routine and partially unfamiliar domestic and international environments. - Follows and interprets global economic and international business processes, changes in economic policy and related policies and legislation relevant to the field, and takes these into account in their analyses, proposals and decisions. - Is able to determine the complex consequences of economic processes and organizational events.
Attitude
- Receptive to new information, new professional knowledge and methodologies, open to taking on new, independent tasks and responsibilities that require cooperation. Strives to develop their knowledge and working relationships, cooperating with colleagues in this regard. - Open to changes in the broader economic and social environment of the given job, work organization, or enterprise, strives to follow and understand these changes. - Receptive to the opinions of others and to sectoral, regional, national, and European values (including social, ecological, and sustainability considerations).
Autonomy and responsibilities
- Takes responsibility for analyses, conclusions, and decisions. - Takes responsibility for complying with professional, legal, and ethical standards and rules related to work and conduct. - Gives presentations and leads discussions independently. - Participates independently and responsibly in the work of professional forums within and outside the economic organization.
Requirements, evaluation and grading
Mid-term study requirements
Attending lectures during the semester.
Exam requirements
Students will be assessed based on 100% oral exam.
Generative AI usage
Use of GAI tools is fully permitted, provided their use is properly cited and does not compromise achieving the learning outcomes defined in the course description.
Study aids, laboratory background
Additional reading material is available online.
Readings
Compulsory readings
Andrew Leigh: The Shortest History of Economics, Old Street Publishing Ltd, 2025 Giorgio Riello and Tirthankar Roy: Introduction: Global Economic History, 1500-2000 https://warwick.ac.uk/fac/arts/history/students/modules/hi997/2018-week3/intro.pdf A Brief History of Economics https://www.investopedia.com/articles/economics/08/economic-thought.asp#toc-economics-in-the-ancient-world
Recommended readings
Cameron, R., L. Neal, A Concise Economic History of the World, Oxford University Press, 2003. Persson, Karl, Gunnar, An Economic History of Europe, Cambridge University Press, 2010. Heilbroner, Robert, The Making of Economic Society, Pearson Prentice Hall, 2008 The Oxford Encyclopedia of Economic History, Oxford University Press, 2003. Landes, David, The Wealth and Poverty of Nations, New York, London, 1999. Ferguson, Niall, The Ascent of Money: A Financial History of the World, Penguin Books, 2009. Backhouse, Robert E., The Penguin History of Economics: New and Revised, Penguin, 2023.