This module is a core course for students pursuing full-field programmes in Economics.
This module offers a detailed survey of the origins and emergence of capitalism and the economic thinking that paralleled these developments. It will develop key aspects of the contemporary economy - firms and competition in the national and international environment and the role of the state in national and supra-national contexts. It will then proceed with an introduction to the role of finance in capitalism and the nature and causes of financial crises.
On successful completion of the module, students will be able to:
The module is delivered by weekly workshops, which will discuss the key issues of each topic and facilitate the application of knowledge and expanded discussion with regard to practical issues related to the module topics. Students will be given questions linked to the topics covered in workshops to be prepared for the discussions in subsequent workshops based on detailed reading in their own time.
| Definitive UNISTATS Category | Indicative Description | Hours |
|---|---|---|
| Scheduled learning and teaching | Workshops | 66 |
| Guided independent study | Student independent study | 234 |
| Total (number of credits x 10) | 300 | |
The final grade for this module is an average of the marks for a preliminary essay, to be completed by early January of 2,000 words, an assessment of the core historical and analytical material completed up to that time (50%), and a final essay of 2,000 words, to be completed at the end of the module, an assessment of the capacity to integrate and critically evaluate the material and themes of the module (50%). Formative assessment comes from discussions of students' written responses in seminars to lecture questions, as well as discussion of students' outlines and first drafts of the preliminary and final essays.
| Learning Outcome | Assessment Strategy |
|---|---|
| Have a clear conception of the historical context in which capitalism arose. | The preliminary essay is the central mechanism for testing mastery of the historical context in which capitalism arose (formative and summative). |
| Understand at a fundamental level the processes by which capitalism developed from its initial stages to giant firms and the present day global economy. | The preliminary essay and the final essay will evaluate the capacity to understand at a fundamental level the processes by which capitalism developed from its initial stages to giant firms and the present day global economy (formative and summative). |
| Clearly articulate the key aspects of the contemporary economy - firms and competition in the national and international environment and the role of the state in national and supra-national contexts. | The definitive essay is the key mechanism for testing the ability to clearly articulate the key aspects of the contemporary economy - firms and competition in the national and international environment and the role of the state in national and supra-national contexts (summative). |
| To give critical consideration to the role of finance in capitalism and the nature and causes of financial crises. | The final essay will evaluate the ability to give critical consideration to the role of finance in capitalism and the nature and causes of financial crises (summative). |
| Description of Assessment | Definitive UNISTATS Categories | Percentage |
|---|---|---|
| Coursework | Essay | 50 |
| Coursework | Essay | 50 |
| Total (to equal 100%) | 100% | |
It IS NOT a requirement that any element of assessment is passed separately in order to achieve an overall pass for the module.
Heilbroner, Robert and Milberg, William (2009) The Making of Economic Society 12thedition. Upper Saddle River: Prentice Hall.
Heilbroner, Robert L. (2000) The Worldly Philosophers 7th edition. London: Penguin.
Cassidy, John (2009) How Markets Fail London: Penguin
Christian, David (2004) Maps of Time: An Introduction to Big History Los Angeles: University of California Press
Maddison, Angus (2007) The World Economy 2nd edition Paris: OECD