ΟΙΚΟΝΟΜΙΚΗ ΙΣΤΟΡΙΑ

Economic History course explains how economic phenomena evolved in the past. Analysis in economic history is undertaken using a combination of historical methods, statistical methods and by applying economic theory to historical situations. The topic includes business history and overlaps with areas of social history such as demographic history and labor history. Quantitative economic history is also referred to as cliometrics. Cliometrics refers to the systematic use of economic theory and econometric techniques to study economic history. The term was originally coined by Jonathan R.T. Hughes and Stanley Reiter in 1960 and refers to Clio, who was the muse of history and heroic poetry in Greek mythology. Cliometricians argue their approach is necessary because the inclusion of history is crucial in formulating solid economic theory. Recent developments in the study of Economic History that led many Economic Historians to win Nobel Prize are certainly included as well. Emphatically the teaching program of the course is based on Friedman's contribution in Monetary History and the new Institutional Historian approach on the lines of analysis both of Douglass North and Robert Fogel.