ECONOMIC THEMES COVERED IN AP EUROPEAN HISTORY: This is not meant to be an all-inclusive list. This is a sampling of the economic themes that are covered. Themes are listed somewhat chronologically, beginning with the most recent trends and going back in history.

  1. Modern Europe: the economic effects of the breakdown of the communist systems in E. Europe and the USSR, economic causes of the major conflicts in Europe and the world (ex. Gulf War, etc.), economic causes of Russian political unrest, economic effects of Russian economic instability on US stocks and the world market, economic impacts of the European Union, economic developmental differences in the various ex-Yugoslavian states, economic problems associated with the reunification of Germany, the European and worldwide effects of this reunification, Reaganomics and its effects in Europe, economic policies of Britain under Margaret Thatcher, supply-side economics.
  1. World War II and the Cold War: the economic impact of World War II and resulting changes in power relations, the emergence of the Eastern and Western power blocs following the war, comparison and contrast of Communism and capitalism and their effects on E. and W. Europe, comparison of the economic status and development of E. and W. Europe, economic imperialism, economic motives of American foreign policy in Europe, Asia and the Middle East (ex. Suez Crisis), the economic impact of decolonization.
  1. Mid-War Years: economic crisis in Germany after WWI, spiral inflation in Germany and its causes and effects, revaluation of German currency, economic effects of the German crisis on the rest of Europe and on the US, John Maynard Keynes theories, the US as the largest creditor nation after WWI: effects on US economic and foreign policy and on European policy, the US stock market crash and the great depression, effects of the great depression on Europe, the crash of the Kredenstaldt of Vienna (Europe’s largest banking house), the effects of the worldwide financial crisis on the rise of Hitler and Mussolini, worldwide economic interdependence.
  1. Late 19th and Early 20th Century: Economic effects of the pre-World War I arms race and of World War I, economic impact of imperialism on Europe, J. A. Hobson, Cecil Rhodes, the economic impact of imperialism on Africa, Asia, and the Caribbean (development of economic dependence and single-commodity economies), the long-term need for economic diversification.
  1. Communism in Practice in the USSR and E. Europe: Economic causes of the Russian Revolution, economic changes in the USSR between 1918 and 1924, Lenin’s New Economic Policy (NEP), differences between Leninism, Stalinism, and Marxism, collectivization, economic reorganization, economic policies of the USSR and Eastern Europe 1917 – 1990, effects of communist economic policies on these areas and on the world economy, capitalist policies vs. communist policies during the cold war.
  1. The Growth of Marxism/Communism: the theory of Marxism, Marxist theory of surplus value, effects of capitalism on the development of Marxism, effects of Hegel and Fichte on the development of Marxism.
  1. Victorian Era: the growth of the stock market, economic consolidation in the 19th century, the growth of department stores and catalog sales, buying on credit, the economic effects of these trends and innovations, labor trends, the changing economic demands and roles of the working classes, economic problems of the farm industry in the 19th century, the changing economic role of women, governmental economic reform.
  1. The Growth of Socialism: The roots of democratic and utopian socialism in 19th century France, the tenets of socialism, historical applications of socialism (ex. The Fabians), modern applications of socialism in nations such as Sweden, socialism as a reaction to both absolutism and unchecked capitalism, socialism in Europe, today.
  1. Enlightenment and French Revolutionary Era: Economic concepts of enlightenment philosophes, utilitarianism, ideas of Jeremy Bentham (Manual on Political Economy), economic causes of the French Revolution, reasons for the bankruptcy and other economic problems of France, the success and failure of economic reform in France, the effects of French economic problems on the rest of Europe.
  1. The Growth of Capitalism: theory and practice of the growth of capitalism, basic tenets of capitalism, ideas of Adam Smith (The Wealth of Nations), the law of supply and demand, the impact of supply and demand on production and pricing, ideas of David Ricardo – “the iron law of wages,” ideas of Thomas Malthus (Essay on Population), capitalism’s effects on industrialization, ways that capitalism fueled investment in the 1700’s and 1800’s, labor abuses caused by unchecked capitalism, governmental reform responses to these abuses, the growth of labor unions, economic and political effects of the early labor movement, Chartism, the economic impact of reform.
  1. Absolutism: economic divisions between classes, misuse of government spending by absolute monarchs, evaluation of the economic policies of Louis XIV and their long-term impact on France, effects of overspending by absolute monarchs in Europe, ways that 16th and 17th century monarchs contributed to the growth of a world economy.
  1. Early Modern Europe: the effects of exploration and mercantilism on the European economies, inflation’s effects on Europe, how the influx of new wealth increased the money supply and led to inflation and economic reorganization (Spanish case study), the growth of capitalism in the Dutch Republic, economic conflict in Elizabethan and Stuart England, economic motives and religious warfare.
  1. Late Medieval and Renaissance Europe: the organization and effects of medieval guilds, the organization of economic resources in medieval Europe, the growth of trade, the economic effects of the growth of towns, the effects of trade and exploration during the Renaissance period, economic developments in renaissance Europe (ex. The growth of banking houses, usury, etc.), the development of mercantilism.
  1. Stock Market Unit: a study of the stock market and a stock market project in which students invest and chart the progress of their investments.