Reference no: EM133033736 , Length: word count:3000

Analysis

Evaluate how well the heterodox approach chosen addresses the problem with mainstream economics you selected. Does the chosen heterodox approach offer the only solution or the best solution to this problem compared to other heterodox approaches? Are there other heterodox approaches that your chosen heterodox approach might also learn from in dealing with the problem you have identified? Identify weaknesses with your chosen heterodox approach. [A good way to do this evaluation of the heterodox approach is to compare it with another heterodox approach's way of dealing with the same issue.]

Presentation, structure and referencing

Provide an appropriately formatted and clearly written piece of work, offering a good range of academic sources that are properly referenced.

Assessment information and marking standards:

Here are some guidelines on what we will be looking for when we mark your essay. The percentage weightings refer to the percentage of your total essay mark.

Introduction and Conclusion
This should contain a brief overview of the essay (i.e. the selected issue or problem with mainstream economics and your chosen heterodox approach) and should indicate the essay's logical structure. There should be a balanced conclusion that ties together the main themes and directly addresses the question. [Learning Outcomes 1 and 3]

Theoretical framework
Define the mainstream approach, identify the relevant problem with the approach. Summarise/outline the main features of the heterodox approach adopted. Accurately outline how the approach adopted draws attention to and addresses the problem with mainstream approach.[Learning Outcomes 1,2 and 3]

- First -identify what it is that is missing or inadequate in the mainstream economics approach. (You have to decide for yourself what this is. Remember your first essay will have created a set of criticisms you can pick from. Also your first essay may well have reched a conclusion on which weakness is the most important one. )

- Second - make the case for the heterodox approach you have selected (this will be linked closely to what you saw as inadequate or missing from the mainstream approach. Your heterodox alternative will be strong in this area or you wouldn't have picked it!)

- Third - identify weaknesses in the heterodox approach you have selected (The best and simplest way to do this part is to look at your chosen approach up against other heterodox approaches. They may be stronger on certain other things that your approach is weak on/silent about).

- Fourth - you will get credit for showing your understanding of more than one heterodox economics approach in this essay.

- Fifth - it is NOT possible to choose 'Behavioural Economics' as a 'heterodox approach' in your essay. This is to avoid the possibility of overlap with the assessment of the module in Behavioural Economics.