This assessment is a submission of a multi-part essay.
Instructions
Concisely explain how BOTH of the following bodies of economic theory offer
insights to policy makers that address how society ought to respond to climate
change.
1. Mainstream economics (as based upon the ideas of Coase, Nordhaus etc)
(1100 Words maximum)
2. Evolutionary / Ecological economics (as based upon the ideas Mazzucato,
Hausmann, Jackson, Kallis, etc)
(1100 Words maximum)
Each part should be a maximum of 1100 words i.e. 2200 in total.
Things to consider
Ensure that you create an essay structure that addresses the question asked. Try to
avoid simply explaining an economic model(s) and then relating to the question only
towards the end of your essay. Use the insights from the models / ideas to address
the question directly throughout.
Start from the initial reading below then expand your reading.
Suggested initial reading for mainstream economics
 Nordhaus (2007) A Review of the Stern Review on the Economics of Climate
Change Journal of Economic Literature Volume XLV, September, pp. 686–
702
also available from http://piketty.pse.ens.fr/files/Nordhaus2007b.pdf
 Stern, N (2006) Stern Review on the Economics of Climate Change
Government of the United Kingdom
also available from
https://webarchive.nationalarchives.gov.uk/20130123161956/http://www.hmtreasury.gov.uk/d/Executive_Summary.pdf
 The core Team (2017) The economy Oxford University Press
also available from https://core-econ.org/the-economy/book/text/20.html
Suggested initial reading for Evolutionary / Ecological economics
 Mazzucato, M (2018) Mission-oriented innovation policies challenges and
opportunities Industrial and Corporate Change, Volume 27, Issue 5, October,
Pages 803–815
also available from https://academic.oup.com/icc/article/27/5/803/5127692
 Hidalgo, C.A. and Hausmann, R. (2009) The building blocks of economic
complexity PNAS Volume 106, Issue 26, pp 10570-10575
also available from https://www.pnas.org/content/106/26/10570
 Jackson, T (2009) Prosperity Without Growth? The transition to a
 sustainable economy Sustainable Development Commission
also available from http://www.sdcommission.org.uk/data/files/publications/prosperity_without_growth_report.p
df
 Hickel, J and Kallis, G (2019) Is Green Growth Possible? New Political
Economy
also available from
https://www.tandfonline.com/doi/full/10.1080/13563467.2019.1598964?scroll=
top&needAccess=true
Grades and degree classifications
Each assessment will have its own set of assessment criteria. The following briefly
describe what is required to for work to be awarded a grade within each degree
classification. More precise grade descriptors are available in the economics
programmes’ handbook.
 First class (70%+). Work considered excellent. The submission will be critical
and analytical throughout. Any question will be answered directly, using a
coherent set of arguments that are informed by an appropriate range of
literature. The presentation will be highly fluent and articulate throughout.
 Upper second-class (60%-69%). Work considered very good. The
submission will contain a full understanding of the issues and be well
reasoned. Any answer will have a good appreciation of the required tasks,
and demonstrate a highly competent set of arguments that are built on a good
selection of appropriate literature. The presentation will be fluent and
articulate.
 Lower second-class (50%-59%). Work considered good. The submission will
understand the required task and address it with competence. However,
some aspects of the way material is used will be lacking. For example,
explanations of relevance or application may be partly unclear or ineffective.
The presentation of material may lack fluency and clarity in places.
 Third class (40%-49%). Work considered satisfactory. The submission will
address the required task in a basic manner. The submission will understand
the required task and show some appreciation of what is required. The
submission may be flawed and not address all aspects fully or clearly. The
presentation of material may have problems with fluency and clarity.
 Fail (<40%). Work that does not pass the assessment. The submission may
not have addressed the required task or addressed it in an inadequate
manner. It will fail to demonstrate an understanding of the relevant theory and
/ or principles underpinning a satisfactory submission. The presentation may
contain serious problems.
Once provisional assessment marks are released they will have gone through the
University’s moderation process. This process ensures that the marks are fair,
reliable and consistent with marking criteria. At this point marks can only be
changed for two reasons (1) there has been a procedural error (e.g. there has been
an error in data entry) (2) an external examiner chooses to systematically adjust
marks at the subject examination board.