The Impact of Empire on Britain 1688–c.1730 (J410/11) - Economic impact of empire on Britain 1688–c.1730 — OCR GCSE History
Verified courseTeaching note checked against the official specification.
The Impact of Empire on Britain 1688–c.1730 (J410/11) - Economic impact of empire on Britain 1688–c.1730 explained
Between 1688 and about 1730 war and empire reshaped the British economy.
Read the full explanation
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.
Your focus
- Explain how war and imperial expansion changed the British economy between 1688 and c.1730.
- Describe the roles of the Bank of England, the East India Company and the Royal African Company.
- Assess the economic significance of the Treaty of Utrecht, the South Sea Bubble and the Atlantic colonies.
The Impact of Empire on Britain 1688–c.1730 (J410/11) - Economic impact of empire on Britain 1688–c.1730 exam tips
Marking 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.
- Identifies the economic importance of North American and Caribbean colonies and the origins of the slave-based economy.
Examiner 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.
Common Mistakes
- Confuses the founding date of the Bank of England; place it in 1694 as a response to war finance.
- Treats the South Sea Bubble as a purely foreign event; connect it to speculative investment in imperial trade and its domestic financial impact.
- Assumes the Royal African Company kept its monopoly after 1698; recognise that its loss opened the trade to other merchants.