Students submitting this assessment as a reassessment are required to make good their original submission acting on the formative and summative feedback provided by their tutors.
On completion of the module, students will be able to:
1. situate the development of political economy within changing historical contexts;
2. understand key mainstream economic concepts with respect to development and both the micro and macro-economic level;
3. identify and explain heterodox perspectives on capitalism and development
4. Demonstrate verbal and written communication skills – write effective academic essays using appropriate referencing.
The assessment for this module is two 1500 words essay. The first essay shall concern the classical and Marxian perspective, with the second essay concerning the 20th century perspectives.Assessment 2 Brief
Answer either Question 1, OR Question 2, OR Question 3.
1. Using your own words, outline Keynes’ explanation of serious macro-economic instability in capitalism, in particular explain Keynes’ analysis of unstable private investment spending.
2. Using your own words, outline Galbraith’s view of corporate power and his theory of social balance in relation to the behaviour of giant firms.
3. Using your own words, explain how the model of Swedish Social Democracy works, highlighting the pivotal role of de-commodification or wage solidarity.
