This paper presents an application of the Multiple-Scale Integrated Assessment of Societal Metabolism to the recent economic history of Ecuador. The most relevant phases are: (1) a "single commodity" export oriented economy; (2) an import-substituting industrialization triggered by the oil-boom; (3) the current critical situation. This study centers on the crucial changes that took place in 1970s in relation to the oil boom. Changes are described using economic variables and biophysical variables (both extensive and intensive referring to different hierarchical levels). These two parallel readings are combined at the end in the discussion section.