School of Economics and Finance

Department of Economics

COURSE : Colombian Economic History

COURSE NUMBER : EC0262 002
FREQUENCY : 9:00-12:00 Thursday
CATEGORY : Lecture
CARACTERISTIC : Suficientable
PREREQUISITES : Micro and Macroeconomics
CORREQUISITES : None
CREDITS :3
COORDINATOR : Mauricio Ramírez Gómez
maramire@eafit.edu.co
PROFESSOR : Irina España
irespanae@eafit.edu.co

I. Justification

One of the major challenges of modern economic thinking is to understand the different
developmental paths in countries, regions, and/or historical time periods. Over the course of many
decades, economic scholarship addressed the study of such developmental differences,
nevertheless, with a disproportionate emphasis on the so-called economic factors of development
(e.g., factors of production, access to natural resources, technology, etc. See Engerman and
Sokoloff, 2012). This emphasis lacked an interdisciplinary and historical approach, as it omitted the
historical roots of development.

Economic history helps to correct such limitations by combining economic theory with rigorous
historical evidence. A growing body of scholarship in the field shows that this interdisciplinary
approach allows the effects of historical legacies on long-term development to be identified. In fact,
systematic research by economic historians has contributed to improvements in the design of public
policies, the specification of causal relations, and in some cases, the re-evaluation of theories
(Margo, 2018, Abramitzky, 2015).

For these reasons, the study of Colombian economic history is a fundamental part of a
contextualized and critical training in economics. Colombian economic history involves the
examination of processes that have shaped the national economy in the long term such as the
evolution of the productive structure, the political economy, and social conditions. Hence, an
interdisciplinary and historical understanding of such processes is imperative for professionals
interested in responding to the major challenges of Colombian development.

II. General objective

This course analyzes the Colombian social and economic development understanding this
development as the outcome of historical legacies and contexts.

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III. Generic competences

 Comprehend the historical roots of the economy.

 Comprehend the historical roots of the Colombian economy.

 Recognize the relevance of economic history in the Colombian economy, the training of
economists and the surmounting of contemporary developmental challenges.

 Embed long-term and interdisciplinary perspectives in the study of the Colombian economy.

 Comprehend the role of historical processes at the global and national levels in the study of
the economy.

 Develop critical thinking.

IV. Specific competences

 Interpret the economy as the outcome of dynamic long-term and gradual processes.

 Interpret the Colombian economy as the outcome of dynamic long-term and gradual
processes.

 Use historical approaches for analyzing the Colombian economy and challenges.

 Infer that the study of the Colombian economy demands interdisciplinary analysis.

 Apply economic theory and methods for the study of Colombian economic history.

 Relate the evolution of the Colombian economy with the evolution of the international
context.

 Critically study the historical evolution of the Colombian economy.

V. Expected outcomes of the learning process

 Exemplify the relevance of economic history with precise facts/events.

 Identify and characterize the different periods, variables and concepts of the Colombian
economic history.

 Identify and contrast the most significant historical institutional reforms and events and its
influence on the contemporary Colombian economy.

 Explore different theoretical tools of social sciences for understanding the evolution of the
Colombian economy.

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  Correctly use quantitative and qualitative methodological tools for supporting economic
arguments.

 Identify and differentiate the evolution of the Colombian economy in the international context.

 Critically discuss the impact of the main historical events in the Colombian economy and
society.

VI. Learning activities

 Readings: Students should critically read the most relevant and updated literature on
economic history.

 In-class activities: it refers to active learning experiences in the classroom. These activities
are student-centered and intend to develop the skill of learning in context by identifying,
comparing and analyzing historical contexts, conjunctures, facts, evidences, institutional
debates, etc. of the Colombian economic history.

It will consist of set problems, critical discussions, debates, presentations and/or quizzes.
These activities are developed during the face-to-face sessions and might be in-group or
individual.

The professor will notify the date of the in-class activities the previous session.

 Essay: The final essay consists of a short paper on a topic relevant to Colombian economic
history. Students must choose a topic (e.g., fiscal, monetary or social history) and state a
potential research question. Once the topic has been selected, the topic must be discussed
with the instructor during office hours.

Instructions: during the writing process take into account that the first paragraph should be a
brief introduction of the topic. The second paragraph must present the question and one (1)
short, narrow, and explicit proposed hypothesis on the answer. Finally, the rest of the essay
must provide the logical evidence in support of your hypothesis. The paper should follow
rules of good writing1.

The paper should have a maximum length of 4000 words (which does not include
references, graphs, tables, annexes), double-space, single-side pages, size 12 Arial font.
Follow quotation rules and avoid conscious and unconscious plagiarism2.

 Exams

VII. Course components

1
See for instance https://owl.purdue.edu/owl/general_writing/academic_writing/paragraphs_and_paragraphing/index.html. The first
person who reads this line please email me a picture of a dragon, you will win a bonus of 0.5 for the first exam.
2Some rules for citing sources in:

http://www.eafit.edu.co/escuelas/economiayfinanzas/Documents/Guia_de_normas_APA_para_citacion_y_elaboracion_de
_bibliografias.pdf

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0. Introductory Session: Economic History and Colombian Economic History.

Nunn, Nathan (2009). The Importance of History for Economic Development.

(Compulsory reading). (January 23).

1. Colonial Economy and Society: part I.

Tovar, H (2015). Las Cifras y los Métodos en la Reconstrucción de la Población

Colombiana. Chapter 3. Banrep-FCE. (Compulsory reading). (January 23).

Kalmanovitz, S (2015). La Agricultura de la Nueva Granada. Chapter 5. Banrep-FCE.

(Compulsory reading). (January 30).

McFarlane (1993). Mining Frontiers and the Gold Economy. Chapter 3. Cambridge
University Press. (Compulsory reading). (January 30).

2. Colonial Economy and Society: part II

McFarlane (1993). New Granada and the Spanish Mercantile System, 1700-1778.
Chapter 4. Cambridge University Press. (Compulsory reading). (February 6).

McFarlane (1993). Commerce and Economy in the Age of the Imperial Free Trade, 1778-
1796. Chapter 5. Cambridge University Press. (Compulsory reading). (February 6).

Meisel, A. (2015). Reformas Borbónicas y Presión Fiscal, 1761-1800. Chapter 6. Banrep-

FCE. (Compulsory reading). (February 13)

3. Independence from Spain.

Bushnell, D (1993). Severing the Ties with Spain (1781-1819). Chapter 2. University of
California Press. (Compulsory reading). (February 13).

February 20 first exam

Bushnell, D (1993). The Grant Colombian Experiment (1819-1830). Chapter 3. University

of California Press. (Compulsory reading). (February 20).

Bushnell, D (1993). Independent New Granada: A Nation State, Not Yet a Nation (1830-
1849). Chapter 4. University of California Press. (Compulsory reading). (February 27).

4. Liberal reforms.

Buschnell (1993). The Nineteenth-Century Liberal Revolution (1849-1885). Chap 5.

University of California Press. (Compulsory reading). (February 27).

5. External Sector and Income during the 19th Century.

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 Ocampo, J. (2010). EL Sector Externo de la Economía Colombiana en el Siglo XIX. Chapter
4. Banrep-FCE. (Compulsory reading). (March 5).

Kalmanovitz, S and López, E. (2010). El Ingreso Colombiano en el Siglo XIX. Chapter 7.

Banrep-FCE. (Compulsory reading). (March 5)

6. Monetary and Fiscal Policies during the 19th Century.

Junguito, R. (2010). Las Finanzas Públicas en el Siglo XIX. Chapter 2. Banrep-FCE.

(Compulsory reading). (March 12).

Ocampo, J. (1994). Regímenes Monetarios Variables en Una Economía Preindustrial:

Colombia 1850-1933. Ensayos de historia monetaria y bancaria de Colombia. Tercer Mundo
Editores. (Compulsory reading). (March 12).

7. Social Development during the 19th Century.

Flórez, C and Romero, O. (2010). La Demografía en Colombia en el Siglo XIX. Chapter 8.

Banrep-FCE. (Compulsory reading). (March 19).

Ramirez, M and Salazar, I. (2010). El Surgimiento de la Educación en Colombia ¿En qué

Fallamos? Chapter 8. Banrep-FCE. (Compulsory reading). (March 19).

March 26 second exam

8. The Regeneration and Early 20th Century.

Buschnell (1993). The Regeneration and its Aftermath: A Positivist-Conservative Reaction

(1885-1904). Chap 6. University of California Press. (Compulsory reading). (March 26).

Bushnell, David (1993). The New Age of Peace and Coffee (1904-1930). Chapter 7 University
of California Press. (Compulsory reading). ). (April 2).

Bejarano, Jesus A. El Despegue Cafetero (1900-1928). En: Ocampo, J. A. (2017): Historia

económica de Colombia. Chapter 5. (Compulsory reading). ). (April 2).

9. The Crash of 1929 and Colombian Industrialization.

Bushnell, David (1993). The Liberal Republic (1930-1946). Chapter 8. University of California
Press. (Compulsory reading). (April 16).

Ocampo, J.A. (2017). La Crisis Mundial y el Cambio Estructural (1929-1945). Chapter 6.

(Compulsory reading). (April 16).

10. State Intervention and Industrialization.

Bushnell, David (1993). The Era of Violence (1946-1957). Chapter 9. University of California
Press. (Compulsory reading). (April 23).

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 Bushnell, David (1993). The National Front: Achievements and Failures (1958-1978).
Chapter 10. University of California Press. (Compulsory reading). (April 23).

Ocampo, J.A. (2017). La Industrialización y el Intervencionismo Estatal (1945-1980).

Chapter 7. (Compulsory reading). (April 23).

11. Fiscal and Monetary Policies during the 20th Century.

Junguito, R and Rincón, H. (2007). La Política Fiscal en el Siglo XX en Colombia. Chapter 6.

Banrep-FCE. (Compulsory reading). (April 30).

Sánchez, F; Fernández, A and Armenta, A (2007). Historia Monetaria de Colombia en el

Siglo XX: Grandes Tendencias y Episodios Relevantes. (Compulsory reading). (April 30).

12. Social Developments in Colombia during the 20th Century.

Ramirez, M and Tellez, J (2007). La Educación Primaria y Secundaria en Colombia en el

Siglo XX. Chapter 9. Banrep-FCE. (Compulsory reading). (May 7).

Jaramillo-Echeverri, J; Meisel-Roca, A and Ramirez-Giraldo, M. (2017). More than One

Hundred Years of Improvements in Living Standards: The Case of Colombia. Borradores
de Economia. Num. 1027. Banrep. (Compulsory reading). (May 7).

13. Planning Development and the Future

Ocampo, J.; Romero, C and Parra, M (2017). La Búsqueda Larga e Inconclusa, de un Nuevo
Modelo (1981-2014). Chapter 8. (Compulsory reading). (May 14).

14. Colombia in the International Context.

Bértola, L & Ocampo, J. (2013). América Latina en la Economía Mundial, 1810-201. Chapter
1. FCE. (Compulsory reading). (May 14).

VIII. Evaluation criteria

Learning outcome Evaluation criteria

 Identify empirical facts/examples in
 Exemplify the relevance of which economic history is
economic history with precise imperative to guide policy makers,
facts/events. test economic theory, prove causal
relations, and answer the big
questions, etc.
 Identify and characterize the  Differentiate the periods, variables
different periods, concepts and and concepts of the Colombian
variables of the Colombian economic history (e.g., colonialism,
economic history. independence, republic,
Regeneration, inward development,
Liberalization).

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 Identify and contrast the most
significant historical institutional
reforms and events and its influence
on the contemporary Colombian
economy.
 Explore different theoretical tools of
social sciences for understanding
the evolution of the Colombian
economy.
 Correctly use quantitative and
qualitative methodological tools for
supporting economic arguments.
 Identify and differentiate the
evolution of the Colombian
economy in the international
context.
 Critically discuss the impact of the
main historical events in the
Colombian economy and society.
 Distinguish the main characteristics
and performance of socioeconomic
variables of these historical periods.
 Differentiate the ideological debates
during these periods.
 Infer how these debates influenced
the performance of economic and
social variables.
 Summarize and contrast historical
institutional reforms.
 Identify how they have played a part
in the evolution of the economic and
social variables.
 Identify the interdisciplinary nature
in studying different topics in
economy.
 Identify that the economy is a social
science and as such, its evolution is
related to the behavior of social and
political actors in the long-term.
 Use historical information and
statistic tools to build up arguments.
 Identify historical arguments, data,
evidence or facts for supporting in
clear terms academic positions.
 Defend economic arguments with
historical evidence.
 Infer the evolution of the Colombian
economy in the Latin-American
context.
 Identify and infer that Colombia is
part of a global economy where
historical international changes
have influenced the performance of
economic variables.
 Consider the main ideological
arguments in historical periods.
 Interpret the impact of the different
historical facts in the evolution of the
Colombian economy.
 Critic economic arguments by using
historical evidence.
 Design and develop economic
inquiry based on historical evidence.
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VIII. Grading system and dates:

First exam: 20% February 20.

Second exam: 25% March 26.
Final exam: 25% May 19.
In-class activities: 15% January 23, January 30, February 6, February 13, February 27, March 5,
March 19, April 2, April 16, April 23.
Final term essay: 15% April 3.

Compulsory readings:

Bertola, L. & Ocampo, J.A. (2013). B. Chapter 1: América Latina en la Economía Mundial, 1810-
2010. FCE.

Bushnell, D. (1993). The Making of Modern Colombia: A Nation in Spite of Itself. University of
California Press.

Bushnell, David (2013). Colombia, una Nación a pesar de sí misma. Nuestra Historia desde los
Tiempos Precolombinos hasta Hoy. Planeta. Bogotá. 17ª. Edición.

Jaramillo-Echeverri, J; Meisel-Roca, A and Ramírez-Giraldo, M. (2017). More than One Hundred

Years of Improvements in Living Standards: The Case of Colombia. Borradores de Economía.
Núm. 1027. Banrep.

Kalmanovitz, S (2010). Nueva Historia Económica de Colombia. Taurus. Universidad Tadeo

Lozano. Bogotá.

McFarlane, A. (1993). Colombia Before Independence: Economy, Society, and Politics under
Bourbon Rule. Cambridge University Press.

Meisel A and Ramírez, M. Editores (2015). La Economía Colonial de la Nueva Granada. FCE-
Banco de la República.

Meisel Roca, A. (1998). La Cliometría en Colombia. Una Revolución Interrumpida, 1971-1999.

Documento presentado para la reunión de CLADEA, en octubre de 1998. (disponible en internet.

Meisel, A and María teresa Ramírez. Editores (2010). Economía Colombiana del Siglo XIX. FCE-
Banco República.

Nunn, Nathan (2009). The Importance of History for Economic Development. The Annual
Review of Economics. 1:65–92.

Ocampo, J.A. (2017). Historia Económica de Colombia. Planeta-Fedesarrollo. Bogotá.

Ramírez, M and Téllez, J (2007). La Educación Primaria y Secundaria en Colombia en el Siglo

XX. Chapter 9. Banrep-FCE.

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Robinson, J and Urrutia, M. Editores (2007). Economía Colombiana del Siglo XX. Un análisis
cuantitativo. FCE-Banco República.

Robinson, James (2016). La Miseria en Colombia. Revista Desarrollo y Sociedad No. 76.
Sánchez, F (1994). Ensayos de historia monetaria y bancaria de Colombia. Tercer Mundo Editores.

Complementary references:

15. Langebaek (2015). Reconstrucción Demográficas de la Población Indígena de Colombia,

antes y después de la conquista. Chapter 1. FCE- Banco de la República.

16. Etter (2015). Las Transformaciones del Uso de la Tierra y los Ecosistemas durante el
Periodo Colonial. Chapter 2. FCE- Banco de la República.

17. Mahoney (2010). Spain and its Colonial Empire in the Americas. Chapter 2. In Colonial and
Postcolonial Development. Cambridge University Press.

18. Prados de la Escosura (2006). The Economic Consequences of Independence in Latin

America. In: The Cambridge Economic History of Latin America, p. 463-504.

19. Tovar (2010). La Manumisión en Colombia, 1821-1851. Chapter 10. Banrep-FCE.

20. Bértola, L., Castelnovo, C., Rodriguez, J., & Willebald, H. (2010). Between the Colonial
Heritage and the First Globalization Boom: On Income Inequality in the Southern Cone.
Journal of lberian and Latin American Economic History, 307-341.

21. Acemoglu, D., García-Jimeno, C., & Robinson, J. A. (2012). Finding el dorado: Slavery and
long-run development in Colombia. Journal of Comparative Economics, 534-64.

22. Garcia-Jimeno, C., & Robinson, J. (2010). Elites, Prosperidad y Desigualdad: Los
Determinantes de la Detentación de Cargos Públicos en Antioquia durante el siglo XIX.
FCE-Banco de la República.

23. Dobado, R., & Garcia, H. (2010). Colonial Origins of Inequality in Hispanic America? Some
reflections based on new empirical evidence. Revista de Historia Económica, Journal of
lberian and Latin American Economic History, 253-277.

24. Deas (2010). Inseguridad y Desarrollo Económico en Colombia en el Primer Siglo de Vida
Republicana Independiente. Chapter 14. Banrep-FCE.

25. Fergusson, L. C. (2017). The Long Shadow of the Past: Political Economy of Regional
Inequality in Colombia. Working Paper, 1-48.

26. Acemoglu, D., Johnson, S., & Robinson, J. (2002). Reversal of Fortune: Geography and
Institutions in the Making of the Modern World Income Distribution. Quartely Journal of
Economics, 1231-94.

27. Mahoney, J. (2003). Long-Run Development and the Legacy of Colonialism in Spanish
America. American Journal of Sociology, 50-106.

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28. Jaramillo-Echeverri, J; Meisel-Roca, A and Ramírez-Giraldo, M. (2015). The Great Depression
in Colombia: A Stimulus to Industrialization, 1930-1953. Borradores de Economia. Num.
892. Banrep.

29. Cepeda, L, Meisel, A (2014). ¿Habrá una segunda oportunidad sobre la tierra?
Instituciones coloniales y disparidades económicas regionales en Colombia. Revista de
Economía Institucional. 16, 31.

30. Abramitzky, R. (2015). Economics and the Modern Economic Historian. NBER. Working
Paper 21636.

31. Álvarez, A and Acosta, J. (2014). Ideas Monetarias del Siglo XIX en Colombia. Banco de la
Republica.

32. Colmenares, G. (2007). La Formación de la Economía Colonial 1500- 1740. En Ocampo.

Historia Económica de Colombia. Planeta – Fedesarrollo. Bogotá. 2007.

33. Engerman, S & Sokoloff, K. (2012). Economic Development in the Americas since 1500:
Endowments and Institutions. Cambridge University Press. 2012.

34. Florez, C. (1992). The Demographic Transition and the Urban Income Distribution in
Colombia 1965-1985. Sociological Inquiry. V. 62 fasc.2 p. 169-184.

35. Jaramillo-Uribe, J. (2007). La Economía del Virreinato: 1740 – 1810. En Ocampo. Historia
Económica de Colombia. Planeta – Fedesarrollo. Bogotá. 2007.

36. Kalmanovitz, Salomón. (2005). La Cliometría y la Historia Económica Institucional: Reflejos

Latinoamericanos. En: Historia Crítica, número 27. Uniandes, Bogotá. (disponible en internet).

37. Margo, R. (2018). The Integration of Economic History into Economics. Cliometrica.

38. Mayor Mora, A. (1989). Historia de la Industria Colombiana. 1930 – 1968. En Nueva Historia
de Colombia. Tomo V. Planeta. Bogotá.

39. McCloskey, D. (2000). Economical Writing. 2nd ed. Waveland Press, Illinois.

40. Melo, J. O. (2007). Las Vicisitudes del Modelo Liberal. En Ocampo. Historia Económica de
Colombia. Planeta – Fedesarrollo. Bogotá. 2007.

41. Montenegro A. y Rivas R. (2005). Las Piezas del Rompecabezas. Taurus. Bogotá.

42. Ocampo, J. A. (2007). Historia Económica de Colombia. Planeta – Fedesarrollo. Bogotá.

2007.

43. Palacios, M. & Safford F. (2005). Colombia. País Fragmentado, Sociedad Dividida. Grupo
editorial norma. Bogotá.

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44. Posada, C. E. (1989). La Gran Crisis Colombiana entre 1928 y 1933. En Nueva Historia de
Colombia. Tomo V. Planeta. Bogotá. 1989.

45. Spolaore, E & Wacziarg, R. (2013). How Deep Are the Roots of Economic Development?
Journal of Economic Literature, 51(2), 325–369.

46. Tovar, H. (2007). La Lenta Ruptura con el Pasado Colonial. Historia Económica de Colombia.
Planeta – Fedesarrollo. Bogotá. 2007.

Web-based resources:

http://moxlad-staging.herokuapp.com/home/en
http://www.banrep.gov.co/es/listado-
libros/Historia%20econ%C3%B3mica?palabra_clave=&feed_me=&destination=listado-
libros/Historia%20econ%C3%B3mica&page=1
http://www.banrep.gov.co/es/economia-colonial-nueva-granada
http://www.ggdc.net/maddison/oriindex.htm
http://wid.world/
https://researchguides.uic.edu/c.php?g=252624&p=1684092
http://www.nber.org/data/
https://www.uc3m.es/ss/Satellite/UC3MInstitucional/es/TextoMixta/1371246237481/Federico-
Tena_World_Trade_Historical_Database
http://babel.banrepcultural.org/cdm/compoundobject/collection/p17054coll10/id/2713
http://biblioteca.dane.gov.co/biblioteca/allbooks
http://babel.banrepcultural.org/
http://www.eafit.edu.co/biblioteca/sala-patrimonio-documental/Paginas/inicio.aspx
https://pseudoerasmus.com/2017/03/22/ehp/

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