"Economic history is the study of history using methodological tools from economics or with a special attention to economic phenomena."
This analyzes economic growth over time, how policies have changed societies over time, and what factors have led to economic growth and decline.
Agricultural Revolution: The significant change that took place in agriculture during the 18th century in Europe, resulting in increased productivity and output.
Industrial Revolution: The transformation of the manufacturing industry during the 18th and 19th centuries, characterized by the use of machines and new production methods.
Market Revolution: The significant change in the way goods were produced and sold in the United States during the 19th century, leading to an increase in industrialization and commercialization.
Mercantilism: An economic policy in which a country tries to maintain a favorable balance of trade by promoting exports and limiting imports.
Bretton Woods System: The international monetary system established after World War II, based on fixed exchange rates and the US dollar as the world's reserve currency.
Keynesian Economics: An economic theory that advocates for government intervention to stimulate demand in a time of economic downturn, through policies such as fiscal and monetary policies.
Classical Economics: An economic theory that emphasizes the importance of free markets and limited government intervention, based on the works of Adam Smith and David Ricardo.
Neoliberalism: An economic theory that emphasizes the importance of free markets, reduced government spending and regulation, and privatization of state-owned enterprises.
Globalization: The increasing interconnectedness of the world's economies, cultures, and societies, facilitated by advances in transportation, communication, and technology.
Colonialism: A system in which a stronger country occupies and controls a weaker country or territory, often for economic gain.
Agricultural Revolution: The period of significant agricultural innovation, advancement in farming techniques, and increase in productivity in Britain during the 18th and 19th centuries.
Industrial Revolution: The period of rapid growth in manufacturing and technological innovation that occurred during the 18th and 19th centuries, leading to the transformation of society from agrarian to industrial.
Mercantilism: An economic policy in which a country exports more goods than it imports in order to build up its reserves of gold and silver.
Classical economics: Economic thought that focuses on the role of markets and how they allocate resources efficiently. It is associated with economists such as Adam Smith, David Ricardo, and John Stuart Mill.
Marxist economics: Economic thought that focuses on the role of class struggle in society and the relationships between workers and capitalists. It is associated with the writings of Karl Marx and Friedrich Engels.
Keynesian economics: Economic thought that focuses on the role of government intervention in the economy, particularly during times of recession or depression. It is associated with the writings of John Maynard Keynes.
Monetarism: Economic thought that focuses on the role of the money supply in the economy and the importance of controlling inflation through the manipulation of monetary policy. It is associated with economists such as Milton Friedman.
Globalization: The increasing interconnectedness of the world's economies and cultures, often facilitated by advances in technology and transportation.
Market economies: Economic systems in which prices and production are determined by the interaction of buyers and sellers in markets, rather than by central planning or government regulation.
Command economies: Economic systems in which the government controls the means of production and sets prices and production targets.
Mixed economies: Economic systems that incorporate elements of both market and command economies, with some industries and sectors controlled by the government while others are left to operate freely in markets.
Capitalism: An economic system in which private individuals or businesses own and control the means of production and distribution of goods and services.
Socialism: An economic system in which the means of production are owned and controlled by the state or by collective groups of workers.
Communism: A political and economic theory in which society is classless and property is collectively owned and controlled by the state or by the people themselves.
Fiscal policy: The use of government spending and taxation to influence the level of economic activity.
Monetary policy: The use of the money supply and interest rates to influence the level of economic activity.
Inflation: A sustained increase in the general price level of goods and services in an economy over time.
Deflation: A sustained decrease in the general price level of goods and services in an economy over time.
Hyperinflation: An extremely high rate of inflation, typically exceeding 50% per month.
Recession: A period of decreased economic activity, typically marked by a decline in GDP, employment, and industrial production.
Great Depression: A severe worldwide economic depression that lasted from 1929 to 1939.
Global Financial Crisis: A worldwide economic crisis that began in 2008 and was characterized by the collapse of major financial institutions, a housing bubble, and high unemployment rates.
Economic development: The process by which a country's economy grows and becomes more advanced over time.
Colonialism: The practice of one country establishing political and economic control over a foreign territory, typically for the purpose of exploiting its resources and markets.
Neoliberalism: An economic philosophy that emphasizes free markets, deregulation, and reduced government intervention in the economy.
Environmental economics: The study of the relationship between the economy and the environment, and the ways in which economic activity can impact natural resources and ecosystems.
Gross Domestic Product (GDP): The total value of goods and services produced within a country's borders in a given period of time.
Gross National Product (GNP): The total value of goods and services produced by a country's citizens, regardless of where they are located, in a given period of time.
Human Development Index (HDI): A measure of a country's development that takes into account factors such as life expectancy, education, and income.
Exchange rates: The value of one currency in relation to another, usually expressed as a ratio or rate.
International trade: The exchange of goods and services between countries.
Protectionism: The practice of limiting imports or promoting exports through tariffs, quotas, or other trade barriers.
Free trade: An economic policy that advocates for the unrestricted exchange of goods and services between countries.
Balance of trade: The difference between the value of a country's exports and the value of its imports.
Balance of payments: A record of all financial transactions between a country and the rest of the world, including trade, investment, and aid.
Multinational corporations: Companies that operate in multiple countries and have a significant economic presence in the global marketplace.
"Research is conducted using a combination of historical methods, statistical methods, and the application of economic theory to historical situations and institutions."
"The field can encompass a wide variety of topics, including equality, finance, technology, labour, and business."
"It emphasizes historicizing the economy itself, analyzing it as a dynamic entity and attempting to provide insights into the way it is structured and conceived."
"Economic historians emphasize understanding the historical context in which major economic events take place, using both quantitative data and qualitative sources."
"They often focus on the institutional dynamics of systems of production, labor, and capital, as well as the economy's impact on society, culture, and language."
"Scholars of the discipline may approach their analysis from the perspective of different schools of economic thought, such as mainstream economics, Austrian economics, Marxian economics, the Chicago school of economics, and Keynesian economics."
"Economic history has several sub-disciplines. Historical methods are commonly applied in financial and business history, which overlap with areas of social history such as demographic and labor history."
"In the sub-discipline called New Economic History or cliometrics, economists use quantitative (econometric) methods."
"In the history of capitalism, historians explain economic historical issues and processes from a historical point of view."
"The study of history using methodological tools from economics"
"Historical methods are commonly applied in financial and business history, which overlap with areas of social history such as demographic and labor history."
"Economic historians emphasize understanding the historical context in which major economic events take place, using both quantitative data and qualitative sources."
"They often focus on the institutional dynamics of systems of production, labor, and capital, as well as the economy's impact on society, culture, and language."
"Scholars of the discipline may approach their analysis from the perspective of different schools of economic thought, such as mainstream economics, Austrian economics, Marxian economics, the Chicago school of economics, and Keynesian economics."
"In the sub-discipline called New Economic History or cliometrics, economists use quantitative (econometric) methods."
"In the history of capitalism, historians explain economic historical issues and processes from a historical point of view."
"Research is conducted using a combination of historical methods, statistical methods, and the application of economic theory to historical situations and institutions."
"The field can encompass a wide variety of topics, including equality, finance, technology, labour, and business."
"It emphasizes historicizing the economy itself, analyzing it as a dynamic entity and attempting to provide insights into the way it is structured and conceived."