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The course provides a comprehensive overview of the economic development of Europe since the Industrial Revolution. It discusses why the Industrial Revolution took place in Europe, and Great Britain was first; how industrialization spread; the basic features of the new international economy; the role of technological change and the patterns of finance; the birth of large corporations and fordism; the impact of XX century wars and crises and the change in world economic leadership; reconstruction after the II world war. One class will be devoted to the rise of the Soviet economic system in the interwar years, with an epilogue on its later demise.