ECHI1006 2021 Course Guide PDF

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The Australian Economy: Past and Present ECHI1006

Wolfgang Sievers, Turbine for the Snowy Mountains Scheme (1971)

Semester 1, 2021 Nicholas Brown Research School of Economics College of Business and Economics The Australian National University 1

ECHI1006

The Australian Economy: Past and Present The course explores the Australian economy in a historical context. It will examine aspects of the history of the Australian economy from early Indigenous society through to the present. It is intended for students who are seeking a broad understanding of how the economy works. The approach adopted will emphasise that the present Australian economy needs to be seen in the context of the historical pattern of development and change. While the course deals primarily with economic factors, social and political contexts and connections will also be considered. Mode of Delivery

Prerequisites Incompatible Courses

Course Convener:

Hours for consultation: Tutors

Hours for consultation:

Hours for consultation:

In-person and recorded lectures; in-person and Zoom-delivered tutorials, in accordance with evolving ANU Covid-19 guidelines. None You are not able to enrol in this course if you have previously completed ECHI1001 or ECHI1003 or ECHI1004 Professor Nicholas Brown Rm 5.46, RSSS Building (146) 6125 3052 [email protected] Mondays 3:00-5:00pm or by appointment Emily Gallagher Rm 5.23, RSSS Building (146) [email protected] Thursdays 1:00-2:00 and 3:00-4:00 or by appointment Joshua Gallagher Rm 5.20, RSSS Building (146) [email protected] Mondays, 3:00-4:00 and Wednesdays, 10:0012:00, or by appointment

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Learning Outcomes On completion of this course students will: 1. have an understanding of the ways in which the Australian economy has changed over time and will have developed a perspective of Australia’s present position in the international economy that takes these historical changes into account; 2. be able to present a variety of interpretations and debates on Australia’s economic history; and, 3. will have developed communication and research skills through tutorial work and essay writing. Assessment Summary Assessment Task 1. Tutorial participation Online from Week 4) 2. Short Essay (1200 words) 3. Long Essay (2500 words) 4. Take-home Examination

Value

Due Date

10%

4pm 11 June

20%

4pm 26 March 4pm 14 May N/A

30% 40%

Date of Return Learning Outcomes N/A 1, 2, 3

16 April

1, 2, 3

4 June

1, 2, 3

N/A

1, 2, 3

Please note: students must attempt all assessment items to pass the course. Failure to submit all written work will result in an Incomplete (NCN) grade even if scores for the other completed components result in a Passing total (50+). Classes: Online with provision for limited in-person tutorials, in accordance with evolving ANU Covid-19 guidelines. Lectures  Monday, 11:00-12:00, Kambri Cinema  Thursday, 10:00-11:00 Kambri Cinema  All lectures will be recorded and available digitally through the ECHO360 link on out Wattle site. Tutorials  You will are expected to attend a weekly tutorial of one hour. Tutorials will be provided by Zoom but with at least on in-person class to be scheduled, as and if ANU Covid-19 guidelines allow.  Please sign up for a tutorial on the course Wattle site.  Tutorials commence in the FIRST week of the course (week beginning 22 February).  If you are absent from a tutorial, you will be expected to provide your tutor with an apology and valid reason for your absence.  Please note: tutorials are a compulsory assessable component of this course. 3

Feedback Staff Feedback Students will be given feedback in the following forms in this course: 

Informal feedback, where sought, in online tutorials

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Informal feedback, where sought, via phone, Wattle or via email

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Formal feedback on essays.

Student Feedback ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. One of the key formal ways students have to provide feedback is through Student Experience of Learning Support (SELS) surveys. The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. For more information on student surveys at ANU and reports on the feedback provided on ANU courses, go to http://unistats.anu.edu.au/surveys/selt/students/ http://unistats.anu.edu.au/surveys/selt/results/learning/ Policies ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. You can find the University’s education policies and an explanatory glossary at: http://policies.anu.edu.au/ Students are expected to have read the Academic Misconduct Rules 2014 before the commencement of their course. Other key policies include:  Student Assessment (Coursework)  Student Surveys and Evaluations Field trips None Examination material or equipment Take-home examination is open book.

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COURSE SCHEDULE Week/ Lectures Session

Tutorials

1 (22 & 25 1. Introduction: Why Australian Economic History? February) (Nicholas Brown) 2. The Indigenous Economy before Colonisation (Boyd Hunter)

Overview

2 (1 & 4 March)

Foundations

3 (8 & 11 March)

3. Economic Foundations of Australian Colonisation (Nicholas Brown) 4. The Rural Economy (Nicholas Brown) 5. Urbanisation, Gold and Industrialisation (Nicholas Brown) 6. Depression of the 1890s to World War I (Nicholas Brown)

4 (15 & 18 7. March) 8.

Assessment

Pastoral Expansion and Retreat

Energy, Transport and Productivity (Nicholas Boom and Bust, 1850-1914 Brown) Federation to Depression (Nicholas Brown) Visit to Noel Butlin Archives Centre (Menzies Library, Building #2), Australian National University: 18 March, 12:30-2:00

5 (22 & 25 March) 6 (29 March & 1 April)

9. World War Two (Nicholas Brown) 10. Post-War Reconstruction (Nicholas Brown) 11. Australia and the Post-War International Economic Order (Nicholas Brown) 12. The Rise of Central Banking (Selwyn Cornish)

From Great War to Depression, 1914-1939 World War Two and Its Economic Legacy

7 (19 & 22 April) 8 (26 & 29 April)

13. 14. 15. 16.

9 (3 & 6 May)

17. The 1980s I: Government (Frank Bongiorno) 18. The 1980s II: Business (Frank Bongiorno)

The 1980s

10 (10 & 13 May)

19. Tracing the Welfare State (Peter Whiteford) 20. 1990s: Recession, Recovery and Resilience (Nicholas Brown)

10. The 1990s

11 (17 & 20 May)

21. The China Boom and beyond (Nicholas Brown) 11. 22. Gender and the Economy in Modern Australia (Frank Bongiorno) 12. 23. Indigenous Economies in Modern Australia (Nicholas Biddle) 24. The Long Run and Now: Revision and Overview (Nicholas Brown)

First essay: due 4pm 26 March

Mid-semester break

12 (24 & 27 May)

The Long Boom, 1950-73 (Nicholas Brown) The Mining Boom (David Lee) End of the Long Boom (Nicholas Brown) Stagflation and Neoliberalism? (Nicholas Brown)

The Long Boom, 1950-1973 End of the Long Boom

Second essay: due 4pm 14 May

The China Boom and the Global Financial Crisis The Long Run and Now: Revision and Overview

Examination: dates to be determined by ANU Examination timetable

REQUIRED RESOURCES The textbook for this subject is: Ian W. McLean, Why Australian Prospered: The Shifting Sources of Economic Growth (Cambridge University Press, 2013). 5

This important book is available through Harry Hartog Bookshop on campus (They assure me they can order it in quickly if they don’t have it on the shelves when you call.) It also available online in full text to ANU staff and students through the ANU Library catalogue. You need to be logged in to gain access to it, but only three people can gain access at any one time. If you are using the online copy, please download what you need as a pdf and then log out so others can use it. While relevant chapters from this book are not set for every tutorial, we do recommend you use it as a background to each week’s discussion. Another text you will find helpful for some purposes – it is rich in useful detail and places Australian economic experience in the context of the wider global economy – is Barrie Dyster and David Meredith, Australia in the Global Economy: Continuity and Change, 2nd Edition (Cambridge University Press, 2012). This text is also available as a full text through the ANU Library. Reading Lists You are expected to complete the Prescribed Reading each week. You also encouraged to read the Background text – usually the relevant chapter from McLean – to familiarize yourself with developing themes. The Further Reading list for each week is meant to be indicative and representative rather than comprehensive, but it should assist you in preparing for assignments and exams. Note that these references are listed alphabetically by author and not in order of importance. Some references are located in the Open Reserve section of the University Library and copies of many also on the open shelves. Many articles are available through the journal data-bases accessible through the ANU Library Catalogue. You should explore other possibilities for readings using the ANU Library catalogue, Google Scholar, and other finding aids. There are some useful general economic histories of Australia. Some appear in the Readings Lists below, and some do not. The following are likely to be of particular use: Coghlan, T.A., Labour and Industry in Australia from the first Settlement in 1788 to the Establishment of the Commonwealth in 1901, 4 Volumes, Oxford University Press, London, 1918 [and 1969 edition]. Forster, C. (ed.), Australian Economic Development in the Twentieth Century, George Allen & Unwin and Australasian Publishing Company, London and Sydney, 1970. Griffin, James (ed.), Essays in Economic History of Australia, The Jacaranda Press, Milton (Qld), 1970. Jackson, R.V., Australian Economic Development in the Nineteenth Century, Australian National University Press, Canberra, 1977. Maddock, Rodney and Ian W. McLean (eds), The Australian Economy in the Long Run, Cambridge University Press, Cambridge, 1987 Sinclair, W.A., The Process of Economic Development in Australia, Cheshire, Melbourne, 1976. Ville, Simon and Glenn Withers (eds), The Cambridge Economic History of Australia, Cambridge University Press, Cambridge, 2015 [ANU Library: Internet Resource] 6

Wheelwright, E.L. and Ken Buckley, Essays in the Political Economy of Australian Capitalism, 5 Volumes, Australia & New Zealand Book Company, Sydney, 1975-1983. If you are unfamiliar with Australian history, you might find it useful to acquire a general history. A suitable one for this course is: Macintyre, Stuart, A Concise History of Australia, Cambridge University Press, Cambridge, Fourth Edition, 2015. ASSESSMENT REQUIREMENTS Assignment submission The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the ANU Online website. Assignments are submitted using Turnitin through the course Wattle site. You will be required to sign electronically a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. Assessment Tasks Assessment Task 1: Tutorial Participation Value: 10% Students are expected to contribute to the discussion in tutorials, demonstrating an understanding of the ways in which the Australian economy has changed over time, a perspective of Australia’s present position in the international economy that takes these historical changes into account, and the capacity the evaluate a variety of interpretations and debates on Australia’s economic history. Students will be provided with individual feedback on their participation in an email from their tutor at the end of Week 6. Once you are enrolled in a particular weekly tutorial class, you must attend the same class each week unless you otherwise notify your tutor. As noted on p. 6, for each week’s tutorial a set of readings are provided on Wattle. Students are expected to have read the Prescribed Readings – the Document/s and the texts setting the Context for the issues under discussion. You are encouraged also to read the Background selection – usually the relevant chapter from McLean. Assessment Task 2: Short Essay Value: 20% Word Limit: 1200 words Due date: 26 March 4:00pm – through Turnitin Return Date: 16 April This exercise encourages reflection on the ways in which economic history can inform an understanding of the contemporary Australian economy. Question: 7

Identify two features of the Australian economy, as it developed from early European settlement to 1939, which have exerted significant influence over its long-term patterns development and management. Justify your selection of features and evaluate the extent and character of their influence. Assessment Criteria  How clearly is the selection of features explained and justified?  How effectively is the influence of those features explained and assessed?  Is the essay factually accurate?  Is there an appropriate introduction?  Is there an appropriate conclusion?  Is the structure of your essay logical and coherent?  Have you used correct paragraphing, syntax, punctuation, grammar and spelling?  Is your referencing consistent, accurate and informative?  Is your bibliography consistent, accurate and informative?  How well is your assignment presented overall? Note also: Bibliography. List all references cited in footnotes as well as other sources that provided you with useful information or significantly influenced your thinking in writing your essay, including lecture notes where appropriate. The style of the bibliography should be similar to that used for footnotes but with items listed in alphabetical order according to the surname of the author (The Further Reading lists in this course outline are in the style of a standard bibliography). It is not necessary to specify in the bibliography which pages or chapters of an authored or co-authored book you actually used, but journal articles and chapters in edited books should include the full daterange of the piece concerned. Referencing requirements In line with the conventions of historical research, this course requires that you use footnotes in your assignment work (Assessment Tasks 2 and 3, but not in exams). All quotations must have footnotes. You should also provide a footnote to indicate the source of statistical data and other information, as well as any major ideas you have drawn on. You must also include a bibliography at the end of your work. Please do not use in-text/Harvard-style referencing. References should follow Chicago style. Guidance in Chicago style referencing is widely available online. See, for example: http://www.chicagomanualofstyle.org/tools_citationguide.html Excessive Word-Count A 10% allowance for submitted work, in addition to the figure listed for each assignment, is permitted. Thereafter, a penalty of 10% applies. We count everything in the main body of the essay, including direct quotations. Footnotes and bibliography are NOT included in the word-count, so you may need to tweak your word–processing software to exclude these components from its tally.

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Assessment Task 3: Long Essay Value: 30% Word limit: 2500 words Due date: 14 May 4:00pm – through Turnitin Return date: 4 June This exercise is an in-depth historical study of a focussed topic and period, demonstrating research, writing and analytical skills. It is based on Weeks 1-9. Questions (Choose ONE): 1. How did traditional Aboriginal societies manage their material resources and with what consequences for their economic and social life? 2. ‘I split the rock;/ I felled the tree:/The nation was-/Because of me!’ How well does the poet Mary Gilmore's description capture convicts’ economic contribution to Australia's economy? 3. Did the Australian economy ride on the sheep's back in the nineteenth century? 4. How did gold influence Australian economic development up to 1870? 5. What can the depressions of the 1840s, 1890s and 1930s tell us about change and stability in the Australian economy? 6. ‘The half-century 1890-1940 was, materially, a disappointment.’ (Geoffrey Blainey, The Story of Australia’s People: The Rise and Rise of a New Australia, p. 286). Discuss. 7. How did the experience of world war (1914-18 and 1939-45) affect Australia's economy? 8. What were the major economic characteristics of Australia’s version of the postWorld War 2 ‘affluent society’? 9. How the mining boom change Australia’s economy in the 1960s and 1970s? 10. How effectively did Australian policy-makers grapple with the end of the long boom between 1973 and 1982? 11. What drove economic reform during the Hawke era (1983-91)? Students may choose to develop an essay question of their own but this must be done in consultation with your tutor, and the final question must be confirmed with your tutor. Assessment Criteria  How relevant, coherent and persuasive is the argument?  How effectively have you used evidence?  Is your research broad and appropriate to the question?  How well have you used primary sources/statistics?  Is the essay factually accurate?  Is there an appropriate introduction?  Is there an appropriate conclusion?  Is the structure of your essay logical and coherent?  Have you used correct paragraphing, syntax, punctuation, grammar and spelling? 9

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Is your referencing consistent, accurate and informative? Is your bibliography consistent, accurate and informative? How well is your assignment presented overall?

Your essays will be marked against the following standards: High Distinction (80+):  Work of exceptional quality showing a command of subject matter and appreciation of issues  Has a clearly formulated argument which is developed throughout the work  Engages the question or topic throughout the assignment  Demonstrates wide reading of relevant literature  Very well expressed  High level of intellectual work Distinction (70-79):  Work of high quality showing strong grasp of subject matter and appreciation of major issues though not necessarily of the finer points  Has a clear argument which may not be fully sustained throughout the work  Masters most of the concepts and issues raised by the question  Shows diligent research  Clearly expressed  Good intellectual work Credit (60-69):  Work of good quality showing an understanding of subject matter and appreciation of main issues though possibly with some lapses and inadequacies  Has an argument which may not be fully sustained throughout the essay and is possibly marred by minor weaknesses  Fair range of reading  Well prepared and presented  Expression may need improvement in places  Solid intellectual work Pass (50-59):  Work of fair quality showing awareness of the main issues in the question but has difficulty framing a relevant response  Argument may be weak  Takes a factual approach and does not attempt to interpret the findings  Modest level of research  Written expression and scholarly conventions need improvement  Competent intellectual work Fail (Below 50):  Work of poor quality  A lack of understanding or misconception of the issues and concepts raised in the question  No clear argument is presented  Insufficient grasp of the ...