Course by CEA :M1 Global and Indian
Economic History Part 1
IIT Delhi
I suspect that we may not cover all the material that we've prepared
over these seven days, so we'll have to decide what choices we
make. I don't want to rush through material because I think it's
better to cover some things well then rush through stuff. That's
another point I wanted to convey to you. There are 14 modules,
different topics, in this course. I want these sessions to be highly
interactive so you know I will ask you questions. You can ask me
questions, but I may have to repeat your question because it's being
filmed. We don't have mike's everywhere, so that's something we
have to manage. The challenge is going to be how many remain at
the end of seven days. I remember that when I was studying for my
masters in PhD, it was really course taught by Professor Amartya
Sen. From tomorrow onwards, the standard timings will be 10:30 to
12:00 so that it'll have two hours. But we have a kind of short break
in between maybe 10 to a couple of thousand fifteen minutes.
So, to understand global economic history, it is important to
understand what happened in the past. For about a thousand years,
the world was in a period of stagnation called Malthusian
Stagnation. This was defined as when per capita GDP hovered
around subsistence levels. Then, in the Industrial Revolution,
standards of living exploded and we have been living in an era of
boom ever since. So, to get an understanding of global economic
history, it is important to know about the Industrial Revolution and
Malthusian Stagnation.
Malthusian stagnation: The economies of many countries remain
static or decline over time. This is because the population is
increasing faster than the amount of available resources. Uniform
mediocrity: In most places, people have the same standard of living.
This is because there is not enough wealth to go around. Western
Europe and North America: These regions have the most resources
and are able to maintain high standards of living. Asia: Asia has the
fastest population growth, but is still not catching up to the
Economic History Part 1
IIT Delhi
I suspect that we may not cover all the material that we've prepared
over these seven days, so we'll have to decide what choices we
make. I don't want to rush through material because I think it's
better to cover some things well then rush through stuff. That's
another point I wanted to convey to you. There are 14 modules,
different topics, in this course. I want these sessions to be highly
interactive so you know I will ask you questions. You can ask me
questions, but I may have to repeat your question because it's being
filmed. We don't have mike's everywhere, so that's something we
have to manage. The challenge is going to be how many remain at
the end of seven days. I remember that when I was studying for my
masters in PhD, it was really course taught by Professor Amartya
Sen. From tomorrow onwards, the standard timings will be 10:30 to
12:00 so that it'll have two hours. But we have a kind of short break
in between maybe 10 to a couple of thousand fifteen minutes.
So, to understand global economic history, it is important to
understand what happened in the past. For about a thousand years,
the world was in a period of stagnation called Malthusian
Stagnation. This was defined as when per capita GDP hovered
around subsistence levels. Then, in the Industrial Revolution,
standards of living exploded and we have been living in an era of
boom ever since. So, to get an understanding of global economic
history, it is important to know about the Industrial Revolution and
Malthusian Stagnation.
Malthusian stagnation: The economies of many countries remain
static or decline over time. This is because the population is
increasing faster than the amount of available resources. Uniform
mediocrity: In most places, people have the same standard of living.
This is because there is not enough wealth to go around. Western
Europe and North America: These regions have the most resources
and are able to maintain high standards of living. Asia: Asia has the
fastest population growth, but is still not catching up to the
