Faculty of Business and Economics

Monash University

Undergraduate, Postgraduate - Unit

This unit entry is for students who completed this unit in 2015 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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6 points, SCA Band 3, 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

LevelUndergraduate, Postgraduate
FacultyFaculty of Business and Economics
Organisational UnitDepartment of Economics
OfferedNot offered in 2015
Coordinator(s)Professor Gary Magee


This unit will introduce students to the field of long-run economic growth and performance. Two key questions are addressed: why do certain economies persistently perform more successfully than others, and how is leadership in the global economy achieved and maintained? Students completing this unit will be able to explain and describe the pattern of long-term economic growth, leadership and decline in the world economy since the industrial revolution; evaluate the role of culture, institutions and the environment in economic change; and apply the methods of historical economics to contemporary economic debates.


The learning goals associated with this unit are to:

  1. evaluate critically contrasting views about the determinants of long-run economic change
  2. analyse the processes of long-term economic growth and decline
  3. analyse a variety of different approaches, including the historical and institutional, that can be used to supplement traditional economic analysis and policy making
  4. explain and analyse the main issues and debates in the field of historical economics
  5. explain and describe the main contours of the development of the world economy
  6. better contextualize and analyse contemporary economic events.


Within semester assessment: 40%
Examination: 60%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

See also Unit timetable information

Chief examiner(s)