HIS33130 The Scottish Financial Revolution in Context, 1688-1750

Academic Year 2024/2025

Against a backdrop of monarchical revolution, economic turmoil, political uncertainty, and constitutional overhaul, Scotland experienced a financial revolution. Using primary sources, contemporary debates, and existing historiography, this module will situate the Scottish Financial Revolution in the context of the period. It will consider the financial impact of the Glorious Revolution in Scotland, comparing this with England and Ireland. We will analyse the economic implications of the Anglo-Scots Union of 1707; including proposals for new forms of banking, money and credit which emerged on the eve of Union, and how Scottish financial development was affected post-Union. The module will consider the impact Scotsmen had on financial developments beyond their native country. This will include, merchant-banker, William Paterson’s involvement in the Bank of England and the ill-fated Darien scheme; and the role of William Burnet, the Scottish governor of New Jersey, in establishing a loan office issuing paper money in the colony in 1723. And we will consider the ideas of the monetary theorist, gambler, and murderer, John Law, in defining the financial ideas of the period. Through this module students will gain an understanding of Scottish and British politics at a critical time through the lens of finance. It is, however, not an economic history module, but one which is interested in ideas, innovation, and individuals.

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Curricular information is subject to change

Learning Outcomes:

At the end of this course you should have:
• an understanding of the main issues and debates concerning the Scottish Financial Revolution
• an awareness of the historical and intellectual context in which the Scottish Financial Revolution occurred
• developed skills in dealing with primary and secondary sources
• experience of working and learning with others
• developed your skills in written analysis

Student Effort Hours: 
Student Effort Type Hours
Specified Learning Activities

95
Autonomous Student Learning

95
Lectures

11
Seminar (or Webinar)

22
Total

223
Approaches to Teaching and Learning:
This is a small-group, seminar-based module. It is taught through a one-hour weekly lecture and a two-hour seminar. The weekly lecture provides an overview of the week’s topic, focusing upon key historical trends, debates and events. The weekly seminar is focused upon individual active / task-based learning by means of class debates, discussion and student presentations. Advanced research, writing and citation skills are developed through a combined individual student presentation on primary sources and written essay, and a semester-long 3,000-4,000-word research project. Autonomous learning is advanced through student-led debate and discussion of set primary sources and / or student presentations each week. 
Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Not applicable to this module.
 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Participation in Learning Activities: Students are graded on their contribution to seminars throughout the semester:

 n/a Graded No

20
Individual Project: A combined presentation / written assignment which takes the form of a seminar presentation and paper. n/a Graded No

40
Assignment(Including Essay): 3,000-4,000 words research paper. n/a Graded No

40

Carry forward of passed components
No
 
Resit In Terminal Exam
Autumn No
Please see Student Jargon Buster for more information about remediation types and timing. 
Feedback Strategy/Strategies

• Feedback individually to students, on an activity or draft prior to summative assessment
• Feedback individually to students, post-assessment

How will my Feedback be Delivered?

Both written and oral feedback will be provided on an ongoing basis over the semester. Feedback on the combined presentation/written assignment will be given in person and through written comments on the submitted document. Feedback on the end of semester essay will be given through written comments and by appointment in one-to-one meetings.