What is Economic History?

Economic history is the study of economic events in the past. A series of different methods are used to analyze these events including statistical and historical methods. Here is an example of an extremely controversial “historical” account on economic events of the recent past:


Development of economic history science

” In Germany in the late 19th century, scholars in a number of universities, led by Gustav von Schmoller, developed the historical school of economic history. It ignored quantitative and mathematical approaches. Historical approach dominated German and French scholarship for most of the 20th century. The approach was spread to Great Britain by William Ashley, 1860–1927, and dominated British economic history for much of the 20th century. Britain’s first professor in the subject was George Unwin at the University of Manchester). In France, economic history was heavily influenced by the Annales School from the early 20th century to the present. It exerts a worldwide influence through its Journal Annales. Histoire, Sciences Sociales.

Treating economic history as a discrete academic discipline has been a contentious issue for many years. Academics at the London School of Economics and the University of Cambridge had numerous disputes over the separation of economics and economic history in the interwar era. Cambridge economists believed that pure economics involved a component of economic history and that the two were inseparably entangled. Those at the LSE believed that economic history warranted its own courses, research agenda, and academic chair separated from mainstream economics.

In the initial period of the subject’s development, the LSE position of separating economic history from economics won out. Many universities in the UK developed independent programmes in economic history rooted in the LSE model. Indeed, the Economic History Society had its inauguration at LSE in 1926 and the University of Cambridge eventually established its own economic history programme. However, the past twenty years have witnessed the widespread closure of these separate programmes in the UK and the integration of the discipline into either history or economics departments. Only the LSE retains a separate economic history department and stand-alone undergraduate and graduate programme in economic history. Cambridge, Glasgow, the LSE, and Oxford together train the vast majority of economic historians coming through the British higher education system today.

United States

Meanwhile, in the US, the field of economic history has in recent decades been largely subsumed into other fields of economics and is seen as a form of applied economics. As a consequence, there are no specialist economic history graduate programs at any universities anywhere in the country. Economic history remains as a special field component of regular economics or history Ph.D. programs in universities including at University of California, Berkeley, Harvard University, Northwestern University and Yale University.” Source: https://en.wikipedia.org/wiki/Economic_history

What is Economic Geography?

Economic Geography is the study of the distribution of economic activities it is a sub field of geography. It also does the location of industries, economic agglomerations and even the culture environment interaction and globalization is studied by this science.


” Some of the first traces of the study of spatial aspects of economic activities can be found in seven Chinese maps of the State of Qin dating to the 4th century BC. Ancient writings can be attributed to the Greek geographer Strabo’s Geographika compiled almost 2000 years ago. As the science of cartography developed, geographers illuminated many aspects used today in the field; maps created by different European powers described the resources likely to be found in American, African, and Asian territories. The earliest travel journals included descriptions of the native peoples, the climate, the landscape, and the productivity of various locations. These early accounts encouraged the development of transcontinental trade patterns and ushered in the era of mercantilism.

World War II contributed to the popularization of geographical knowledge generally, and post-war economic recovery and development contributed to the growth of economic geography as a discipline. During environmental determinism’s time of popularity, Ellsworth Huntington and his theory of climatic determinism, while later greatly criticized, notably influenced the field. Valuable contributions also came from location theorists such as Johann Heinrich von Thünen or Alfred Weber. Other influential theories include Walter Christaller’s Central place theory, the theory of core and periphery.

Fred K. Schaefer’s article “Exceptionalism in geography: A Methodological Examination”, published in the American journal Annals of the Association of American Geographers, and his critique of regionalism, made a large impact on the field: the article became a rallying point for the younger generation of economic geographers who were intent on reinventing the discipline as a science, and quantitative methods began to prevail in research. Well-known economic geographers of this period include William Garrison, Brian Berry, Waldo Tobler, Peter Haggett and William Bunge.

Contemporary economic geographers tend to specialize in areas such as location theory and spatial analysis (with the help of geographic information systems), market research, geography of transportation, real estate price evaluation, regional and global development, planning, Internet geography, innovation, social networks.” Source: https://en.wikipedia.org/wiki/Economic_geography