Compare and contrast the strengths and weaknesses of ANY TWO heterodox schools of thought in economics.

Critical Approach to Economics

assessment question:

Compare and contrast the strengths and weaknesses of ANY TWO heterodox schools of thought in economics. ( 2000 words max. )

This should be used as a guide for your essay structure:

Marking Criteria Learning Outcomes Marks Available

1. Introduction and conclusion

Overview of the essay, signposting, structure. 20

2. Theoretical frameworks

Summarise/outline heterodox schools adopted 35

3. Analysis

Assess the relative importance/strengths and weaknesses of the two alternative approaches.

4. Conclusion

5. Reference list 30

Presentation, structure and referencing

Well structured, good range of academic references, properly referenced, well written. 15


Compare = look for similarities (if there are none then we will have found differences)

Contrast = emphasise differences by placing things together.

Please use Harvard referencing style, Arial font in size 12 with single spacing.

Please, write in English and not American!

This essay is very important to me and I need to get at least 70% for it. Previous writers have let me down and i failed a few of my modules with getting a shocking 13% for the writers work. Therefore, I need to make sure it is done properly to avoid going through complaints procedure again. I hope you understand…

Reading List

Resources Notes

“Beyond Markets: Critical approaches to microeconomics” Chapter 9 in A. Griffiths and S. Wall (eds) (2011) Applied Economics (12th ed.) London: Pearson.

Dasgupta, Partha (2007) Economics: a very short introduction. Oxford: Oxford University Press.

Koppl, Roger (2010) Advances in Austrian Economics Vol.14: What is so Austrian about Austrian Economics? Bingley: Emerald.

Kirzner, Israel M. (2000) The Driving Force of the Market: Essays in Austrian economics. London: Routledge.

Boettke, Peter J. (2010) Handbook on contemporary Austrian economics. Cheltenham: Edward Elgar.

Vromen, Jack (1995) Economic Evolution: an enquiry into the foundations of New Institutional Economics. London: Routledge.

Hodgson, Geoffrey M. (1996) Economics and Institutions: a manifesto for a modern institutional economics. Oxford: Polity.

Yonay, Yuval P. (1998) The struggle over the soul of economics institutionalist and neoclassical economists in America between the wars. Princeton, N.J. : Princeton University Press.

Rutherford, Malcolm (1999) Institutionalism as “Scientific” Economics. University of Victoria, Department of Economics, Departmental Discussion Paper 99-01

Saad-Filho, Alfredo (2003), Anti-capitalism: a Marxist introduction. London: Pluto Press

Lebowitz, Michael A. (2003) Beyond capital: Marx’s political economy of the working class (2nd ed.). New York: Palgrave Macmillan.

Marx, Karl (1989) Collected Works of Karl Marx and Frederick Engels, Volume 32. Lawrence and Wishart.

Keynes, John Maynard (1973) The Collected writing of John Maynard Keynes, Volume VII. Macmillan.

Holt, Richard P.F. (2007) Empirical post-Keynesian economics looking at the real world. Armonk, NY: M.E. Sharpe.

Cato, Molly Scott (2009), Green Economics: an introduction to theory, policy, and practice. London: Earthscan

Ison, S., S. Peake and S. Wall (2002) Environmental issues and policies. Prentice Hall: Harlow

Nelson, Julie A. (2006) Economics for humans. Chicago: Chicago University Press.

Barker, Drucilla K. (2004) Liberating economics: feminist perspectives on families, work and globalization. Ann Arbor: University of Michigan Press.

Copies in library

E-book available through library and several copies on order.

Out of print, but electronic version available through library

E-book through library and hardcopy on order

One copy in library, another on order

E-book available through library

One copy in library

E-book available through library

Available at:

Three copies in library

E-book through library and hardcopy on order

Out of print but reference copy in library

Out of print but copy in library that can be ordered

E-book through library

Three copies in library

Two copies in library

E-book through library and hardcopy on order

E-book through library and hardcopy on order


It is important that you draw from material contained in academic journals. These are some relevant titles.

International Journal of Green Economics

Cambridge Journal of Economics

Journal of Economic Issues

Journal of Institutional Economics

Review of Social Economy

Journal of Post-Keynesian Economics

Capital and Class

Available in the digital library

Specific journal articles

Lawson, T. (2006) The nature of heterodox economics. Cambridge Journal of Economics 30 483-505.

This is an important article and it can be found in the digital library

It would be great if you could use some material from our reading list. If some of them are not accessible and you need to read or include then in the essay, let me know and i will try to scan it for you and upload online.

Please study thoroughly all attached PowerPoint slides as they have all brief information of what needs to be mentioned in the essay ( i.e relevant theories, economists thoughts and so on ). Please, provide a good analysis to answer our essay question and stick to the Marking Criteria structure i provided.


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