Module Directory

EC203 explores the patterns and economic implications of technological change in the modern world, beginning with a brief outline of the first Industrial Revolution in Britain, but focusing on the ‘second industrial revolution’ from the mid-19th century and subsequent developments which culminated in the technological advances that made pivotal contributions to economic growth throughout the 20th century, and beyond. Following a review of aggregate growth accounting estimates of trends in technological change (Total Factor Productivity), the module continues with case studies of key sectors contributing to technical progress, notably electricity and organic chemicals. Their further developments, and applications, are pursued alongside innovations in a widening range of industries throughout the 20th and early 21st centuries. Particular attention is devoted to developments in Information and Communications Technology and biomedical advances, together with implications for labour and capital markets, often now associated with a ‘third industrial revolution’. The module concludes with reflections on the prospects for, and challenges likely to confront, technological progress towards the mid-21st century.

The aims of this module are:

• To explore the evolution and implications of technological change in advanced industrialised economies.


• To take a historical perspective, aiming to show how key sectors of change in the economy contribute to the development of new technologies and, over time, to changes in the patterns of production and economic well-being.

By the end of this module, students will be expected to be able to:

1. Identify the main patterns of technological advance from the mid-19th century to the present, in relation to economic growth in key sectors of the modern economy.


2. Be aware of how aggregate technological changes are measured and interpreted in the context of modern approaches to economic growth.

Transferable Skills

EC203 aims also to support the development of useful skills in the form of:

• Clear, concise and well-organised professional written work.


• The application of economic concepts to elucidate technological advance and its implications.


• Personal time management, target-setting to achieve a timely completion of essays and other reading assignments.


• Reflection on, and response to feedback provided for essays.

While the topics covered are the same for both EC203-5-SP and EC203-6-SP, the differences between the two levels are that level 6 students would demonstrate a fuller appreciation of how economic analysis can be used to probe more deeply into the mechanisms that govern the bidirectional relationships between the technological and economic experiences of advanced industrial societies. The level of understanding of level 5 students is expected to be expressed with a greater emphasis on the descriptive use of economic reasoning, applying their knowledge to organise material in a systematic way as a step towards the more subtle appreciation of the application economic principles found at level 6. (This is how the ‘learning outcomes’ differ in a nuanced way between the two levels.)

It is thus appropriate that the teaching and readings are the same for both groups: what differs is the manner in which students approach and respond to these resources. In this context for instance, students at level 6 are expected to display the skills acquired from their second year of study in the Department of Economics. EC203 students, at least, have shown themselves to be capable without difficulty of grasping what is expected of them.

In order to enable students at each level to demonstrate their knowledge to their best advantage, the assessments (assignment and examination questions) differ, not in the subject matter covered, but instead in the ways in which logical reasoning and economic analysis are applied to answer the questions. In recognising moreover that students are diverse in their range of abilities (at any level), the EC203 assessments provide opportunities for all students to express themselves to their best advantage, such that the higher reaches of level 5 may overlap with the less able students at level 6. The assessment of these differences requires the exercise of academic judgment, of which the examiners are aware and take into account.

The module will be delivered via:

• Two lecture hours per week in the Spring Term.
• Some of the lecture hours may be used as seminars.
• Additional class hours will be added as needed.
• Two hours in the Summer term are devoted to revision before the final examination.

Feedback for EC203 occurs: in classes, where the design and coverage of assignment essays is discussed; in lectures, parts of which are devoted to seminars discussing the topics being studied; and in academic support hours, which are available each week. Academic support hours are provided to allow individual students, or small groups, to raise specific issues of interest that occur during the module, or to discuss their planning of assignments.

In the weeks immediately before the final examination, revision sessions are provided to highlight themes of EC203, and to provide guidance on examination strategy. Students are encouraged to make use of academic support hours at this time to discuss their individual examination strategy and to obtain feedback from their drafts of answers to sample examination questions.