OCR · GCSE · History
Course version: J410 · Version from Mar 2026
Economic impact of war and imperial expansion: changes to the British…
Full specification wording
The Impact of Empire on Britain 1688–c.1730 (J410/11) - Economic impact of empire on Britain 1688–c.1730: Economic impact of war and imperial expansion: changes to the British economy; establishment of the Bank of England (1694); growing trade with India and China and the establishment in Kolkata and role of the East India Company; political and economic impact of the lifting of the Royal African Company monopoly 1698; Treaty of Utrecht 1713; the South Sea Bubble 1719; economic importance of colonies in North America and Caribbean; origins and development of the slave based economy.
Between 1688 and about 1730 war and empire reshaped the British economy.
Checked against the OCR J410 specification (opens in a new tab) on .
- 4 key terms
Study notes
From the checked teaching notes for this specification point.
The idea
Between 1688 and about 1730 war and empire reshaped the British economy. War with France increased state borrowing, and the Bank of England, founded in 1694, helped fund government debt and stabilised public finance. Trade with India and China grew, and the East India Company established a base at Kolkata, extending its commercial and political role. In 1698 the Royal African Company lost its monopoly, opening the slave trade to other merchants and widening economic involvement. The Treaty of Utrecht in 1713 confirmed territorial and trading gains, including the asiento, and the South Sea Bubble of 1719 showed how speculative investment in imperial trade could destabilise finance. Colonies in North America and the Caribbean supplied goods such as sugar and tobacco, and the slave-based plantation economy became central to Atlantic commerce.
What earns the marks
- Explains that the Bank of England, established in 1694, supported government borrowing and public finance during war.
- Describes the growth of trade with India and China and the East India Company's establishment at Kolkata and its commercial and political role.
- Explains that lifting the Royal African Company monopoly in 1698 widened participation in the slave trade with political and economic effects.
- Links the Treaty of Utrecht 1713 and the South Sea Bubble 1719 to imperial trade, territorial gains and financial speculation.
- Identifies the economic importance of North American and Caribbean colonies and the origins of the slave-based economy.
Common mistakes and how to put them right
Confuses the founding date of the Bank of England.
Put it right: Place it in 1694 as a response to war finance.
Treats the South Sea Bubble as a purely foreign event.
Put it right: Connect it to speculative investment in imperial trade and its domestic financial impact.
Assumes the Royal African Company kept its monopoly after 1698.
Put it right: Recognise that its loss opened the trade to other merchants.
Exam tips
- Match each date in an option to the event it names before selecting an answer.
- Distinguish political from economic consequences when the stem asks for one type.
- Reject options that place a later event inside the 1688–c.1730 period.
Try the lesson
The start of the The Impact of Empire on Britain 1688–c.1730 (J410/11) - Economic impact of empire on Britain 1688–c.1730: Economic impact of war and imperial expansion: changes to the British economy; establishment of the Bank of England (1694); growing trade with India and China and the establishment in Kolkata and role of the East India Company; political and economic impact of the lifting of the Royal African Company monopoly 1698; Treaty of Utrecht 1713; the South Sea Bubble 1719; economic importance of colonies in North America and Caribbean; origins and development of the slave based economy. lesson, made from checked teaching notes for this specification point.
Have a go first
In which year was the Bank of England established to help fund the government's war debts?
Listen
Between 1688 and about 1730 war and empire reshaped the British economy. War with France increased state borrowing, and the Bank of England, founded in 1694, helped fund government debt and stabilised public finance. Trade with India and China grew, and the East India Company established a base at Kolkata, extending its commercial and political role. In 1698 the Royal African Company lost its monopoly, opening the slave trade to other merchants and widening economic involvement. The Treaty of Utrecht in 1713 confirmed territorial and trading gains, including the asiento, and the South Sea Bubble of 1719 showed how speculative investment in imperial trade could destabilise finance. Colonies in North America and the Caribbean supplied goods such as sugar and tobacco, and the slave-based plantation economy became central to Atlantic commerce. A strong answer earns marks for these points. Explains that the Bank of England, established in 1694, supported government borrowing and public finance during war. Describes the growth of trade with India and China and the East India Company's establishment at Kolkata and its commercial and political role. Explains that lifting the Royal African Company monopoly in 1698 widened participation in the slave trade with political and economic effects. Links the Treaty of Utrecht 1713 and the South Sea Bubble 1719 to imperial trade, territorial gains and financial speculation. Exam tip: Match each date in an option to the event it names before selecting an answer.
See it
Put the events in order
Put these events in the order they happened, earliest first.
- 1. The South Sea Bubble
- 2. Establishment of the Bank of England
- 3. Treaty of Utrecht
- 4. Lifting of the Royal African Company monopoly
Key words
Say what each word means before you turn the card.
Bank of England
Try answering aloud or in your head before turning the card.
East India Company
Try answering aloud or in your head before turning the card.
Royal African Company
Try answering aloud or in your head before turning the card.
South Sea Bubble
Try answering aloud or in your head before turning the card.
See every definition
- Bank of England
- Founded in 1694, it helped fund government debt and stabilised public finance as war increased state borrowing.
- East India Company
- Its commercial and political role extended as trade with India and China grew and it established a base at Kolkata.
- Royal African Company
- Its monopoly was lifted in 1698, opening the slave trade to other merchants and widening economic involvement.
- South Sea Bubble
- The speculative investment in imperial trade in 1719 showed how such investment could destabilise finance.
Label the diagram
Some boxes have lost their names. Pick the right name for each number.
1Box 1
2Box 2
3Box 3
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