what is the historical context surrounding president election of 1984?

1> Reagan CLOBBERED Mondale, winning over 500 electoral votes out of 538 possible.
2: first time a woman ran as VP on a major party ticket (Geraldine Ferraro),

That's a big question.
Reagan was running for his second term. He was a conservative, and very popular, though the country was somewhat polarized and a lot of people despised him as president.
He had been elected for his first term when he ran against incumbent Jimmy Carter, who was very liberal and had lost his popularity. Also Carter was having a hard time with Iran after the Iranian revolution of 1979, in which they took hostage the people in the US Embassy of Tehran. This is a strict no-no in international law, since any Embassy is considered to be the soil of the country to which it has been granted. A US Embassy is US soil, a Mexican Embassy is Mexican soil. The host country has no jurisdiction inside it. Well, by the end of Carter's term, Iran was mad at Carter for trying to get the hostages back, so they didn't release the hostages until Reagan took office. Of course Reagan was not any friendlier to them than Carter was.
Meanwhile the Cold War was going on. Reagan began a military buildup even faster than the previous presidents, with the object of breaking the Soviet Union [USSR]. He used bombastic language, rather like Trump does, but less salty and not as personal. [Reagan also was a former entertainer.] He famously called the USSR an Evil Empire.
Reagan ordered minor military in several places. BTW at that time the USSR was embroiled in a war supporting a Marxist government in Afghanistan, similar to the earlier US involvement in Vietnam, and the US sent arms to the mujahedeen who opposed the Marxists.
Reagan also made efforts to reduce the Welfare State, so that a lot of people lost government welfare benefits and had to work for a living. As I recall, also, prices in the grocery store went up by a penny or two every week; I just expected it. But in some ways business did very well.
Will Reagan get us into a nuclear war with Russia? Will poverty become epidemic in the US without welfare programs? These were some of the questions during the 1984 elections.
During his second term, Reagan became friends with Soviet President Gorbachev, and the USSR broke apart into separate countries.
Thus ended the Cold War.

In relation to what?
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The context was whether to give Reagan a 2nd term and stay the then radical course Reagan had set in his 1st term. In his 1st term (1981-84) Reagan had dealt with America's 1970's problems by turning the country sharply to the political right/ conservatives, giving huge tax cuts to the rich, favoring the southern and western states over the eastern and northern states, and borrowing $100's of billions for defense spending. This had caused a very deep recession (1982-84), but also a boom for the rich, for stocks, for defense companies and southern/ western states. The question was would the losers under Reagans radical changes (eastern states/ northern states, minorities, those on government assistance, unions and old American industries).....'stay the course with him'.... in the hopes the whole economy would prosper in the next 4 years as he promised, or not.
Reagan won in a landslide, the economy did prosper overall, but old US industries (steel, autos, mining, manufacturing, unions, poor people) didn't prosper at all, the north/ east states lost 10% of their population, and the Great Lake states basically went bankrupt. Reagan's overall success with the economy (1985-88), and his transfer of people and power to the south and west at the expense of the north and east has kept the conservative republican party dominant in control of US leadership for all the years....1989-2018.

You'll need to ask a more specific question.