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Topic: Political Economy

Topic: Political Economy
Order Description
This is he essay question and the references that must be used for the essay. use these books to answer the essay and please be careful because my professor wrote this book >>> The Economics of Abundance: Affluent Consumption and the Global Economy
By Brendan Sheehan
1750 words please because there was no option
4. Using your own words, outline Keynes’ theory of unstable private investment spending and the multiplier. Explain how this provides a foundation for Keynes explanation of the Great Depression. Use as your main references Heilbroner (1997), Keynes (2007) and Sheehan (2013).
The Economics of Abundance: Affluent Consumption and the Global Economy
By Brendan Sheehan
This is my professors book which he wrote
Teachings from the Worldly Philosophy Heilbroner (1997)
It is most important that you appreciate what academics mean by the term feedback. Each module has objectives, or what academics call learning outcomes. You must also cultivate competent written communication skills in an academic setting and develop individual initiative. Hence the summative assessment on this module is the submission of two academic essays.
The essays are marked according to explicit assessment criteria. On the 17678 X-stream site for this module you can access the summative feedback for your marked essay. You will see specific feedback related to the assessment criteria by clicking on the general comments icon.
These general comments will normally focus upon what you did well, what was missing and/or what needed improving. The essay itself may also be annotated by the Tutor with specific comments/queries for your assistance. These annotations will be highlighted by a blue icon which you can click upon. Finally, the summative feedback will include an explicit percentage mark out of 100 (also broken down into its constituent parts). This mark will be inputted onto the University system for the examination board
The guidelines for the submission of the essay assignment are as follows.
? Submit an electronic version of your essay via the 17678 X-stream site.
? The essay should be word processed. It should not exceed 1750 words in length.
? The essay must include a bibliography and footnotes.
? Please ensure your essay has no appendices.
? Ensure the essay includes a word count on the first page – this figure does not include tables, endnotes or the bibliography;
? The essay should be produced with a typeface of Arial font size 14. Please use the same typeface throughout.
? The essay should be set out double-spaced (including bibliography and footnotes).
? All text should be ranged left and unjustified.
? The essay should include the following statement of authenticity.
“I confirm that this submission is my own work. Any quotations are properly cited using the Harvard referencing method. All errors and omissions are my responsibility alone.”
? The order of the essay should be as follows:
• Your name (forename and then surname)
• Essay Question and the name of your Module tutor
• Statement of Authenticity (make sure you sign and date the statement)
• Word Count Figure
• Main body of submitted work
• Bibliography
The failure to fulfil one or more of these requirements will mean that marks will be deducted at the discretion of the Module tutors.
Any essay handed in late will be subject to the University penalties for the late submission of work.
Assessment Criteria for Essay
• Does it engage with the reading recommended by the tutors?
• Has the question posed been properly answered?
• Are key concepts clearly defined and essential ideas fairly summarised?
• Does the essay have a logical, balanced structure?
• Is there any irrelevant material included, especially from sources not recommended by the tutors?
• Is there evidence of editing and re-drafting?
• Does it have a clear introduction and summary?
• Are footnotes included when appropriate?
• Are all the relevant arguments properly cited?
• Are the references in the bibliography set out correctly?
Essay Guidance
High and Low Involvement Strategies
Whatever essay you choose there is always a central problem you face. None of the authors that you have been recommended to read answer your essay question. This means that if you simply summarise what various authors argue, in the order in which they set out their arguments, you are by definition not answering the question posed. Such a strategy – let’s call it the low involvement strategy – never generates good marks.
A precondition for obtaining good essay marks requires that you engage with the learning process. The next step to achieving a good mark requires you to read around all the recommended authors and conduct a selective search for relevant materials; that is searching through the many notes taken from your reading of various materials and then selecting the relevant notes that are useful for answering the question posed.
You must think about, and reflect upon, the arguments put by the different authors, and most importantly the connections between these arguments. There is one final step required to obtain a good essay mark. You must think about how to structure the key arguments and how to express these arguments in their own words.
The student who follows these suggestions is pursuing a high involvement strategy, which opens up the possibility of a good mark being awarded.
Thinking is a precondition for gaining high marks. But thinking has two cognitive costs. The first occurs because humans think serially – that is one thought is followed by another – which means that thinking is time consuming. To solve a problem – how to write an essay awarded a good mark – you must give yourself sufficient thinking time, which of course requires good time management skills.
The second cognitive cost relates to the fact that thinking involves mental effort; to rephrase, thinking is hard work. The brain, like any other muscle of the body, tires when exercised. To avoid mental effort you might be tempted to use various so-called “cognitive short-cuts”; one short cut noted above being summarising the work of the different authors rather than answering the question posed. Excessive use of cognitive short cuts condemns you to a low mark. But, on the bright side, when you are prepared to invest in the mental effort of thinking you find that the brain becomes progressively better at this cognitive activity (Baddelely, 1999).
Writing a good essay is a creative process. There has been much research into creativity and it is generally accepted it has four stages. The stages are preparation, incubation, illumination and finally verification (Reisberg, 1997).
Let’s consider how these stages relate to the creation of a good essay.
Preparation. This requires that you examine the question posed and, with selective search, find and organise the relevant materials. Preparation will often involve much time consuming effort, sometimes it will be a little frustrating when progress seems slow. But without proper preparation the subsequent stages of creativity will not apply.
Incubation. This relates to the thinking time noted above. Thinking occurs both at the conscious level – reading a book and taking notes – and the non-conscious level. The latter is important because the human brain often works on a problem (i.e. how bring together different arguments into a cohesive whole) when it is not focusing on it. It seems that non-consciously the mind constantly works away in the background – defining categories more clearly, making new associations between arguments etc. The best analogy is the incubation of an egg. From the outside the egg seems the same but within things are developing rapidly. What is amazing is that the incubation stage is most effective when a person is engaged in something completely unrelated to the task at hand – walking, watching a film, driving a car, playing golf etc. But note once again the incubation stage takes time.
Illumination. This occurs when a problem – e.g. how to start an answer to an essay question – is either solved or an impasse to such a solution is overcome. Reisberg calls it an “aha” moment, when you can finally see the right path, or the best structure of an argument, or an optimal starting point etc. One crucial moment of illumination occurs when you are able to set out an essay plan – a logical structure for the content of the essay. But be warned, some “aha” moments are false dawns, which after further reflection are viewed as intellectual cul-de-sacs. When this happens a further period of incubation may ensue.
Verification. This involves actually writing out the first draft of the essay to see how the proposed content works. It is very rare for the first draft to be perfect. More likely the essay plan will need to be revised after further incubatory thinking and illumination and the first draft of the essay will require editing and redrafting. You should expect to conduct at least one or two further redrafts before a final polished draft of the essay, within the specified word limit, is ready for submission.
Some Other Points to Consider When Essay Writing.
The final polished essay must have a logical structure, with a balance between competing arguments. The essay should have a good introduction which signposts both the key arguments and the order of content. Moreover, the essay should include a summary, a way of concluding the essay which properly summarises its key points. The creator of an essay should always try to ensure that the reader of the essay thinks that the work has arrived at an answer to the question posed.
It is of the utmost importance that you cite the crucial arguments of key authors that you have expressed in your own words. Citation in the essay must follow the Harvard referencing system. Think carefully before including a quotation. Ask why are you including it? Can you summarise it in your own words? Are you including it because you do not have the confidence to summarise material in your own words? You must have a good and clear reason for including a quote (e.g. it is a famous quote, or it so well written it sums up a key point succinctly). Lots of quotes included for no apparent reason suggests a lack of confidence on the part of the writer, which means a lower mark. Finally, all quotations must be properly cited using the Harvard referencing system.
Footnotes should be included at the relevant time, referenced using the Harvard method. Footnotes allow material to be included which amplify or clarify points made in the main body of the essay, but which is not important enough to count towards the word limit. It also allows the writer to include a tangential point or aside of interest, which is not directly related to the question posed. Note, footnotes should NOT be used to cite references.
The bibliography should have references set out using the Harvard method. These references must be cited in the main body of the essay and/or footnotes. It is crucially important that you only include bibliographical references that you have consulted and read.
Avoid making the mistake of writing in the passive voice. Passive voice language avoids using specific names of the person or people involved in some action, event or situation. For example, statements like:
“Last week a memo was sent about productivity improvements.”
“Last week the Managing Director sent a memorandum about productivity improvements.”
“It is argued that there was a Golden Age of economic growth between 1950 and 1973.”
“According to Hobsbawm (2003) there was a Golden Age of economic growth between 1950 and 1973.”
Avoid using the passive voice in your essays.
Avoid wasting words in the essay. Wasted words can be defined as words that do not clarify, explain, interest or intrigue. In a word constrained essay wasting words is a serious error, as it crowds out words that could be used more effectively to attain a better mark. Examples of wasted words and suggested replacements are set out below.
each and every man and woman Everyone
few in number Few
and so as a result of and so
never at any time Never
the point is that we are already overstaffed we are over staffed
we have a problem with this media thing We have a problem with the media
REMEMBER ONLY YOUR OUTPUTS (e.g. the final submitted essay) ARE ASSESSED, NOT YOUR INPUTS (reading of materials, drafting and editing etc). If the final essay is not good enough, all your other efforts are wasted.
Baddelely, A. (1999) Essentials of Human Memory. Hove: Psychology Press
Hamilton, I. (1982) Koestler: a biography. London: Secker and Warburg
Reisberg, D. (1997) Cognition – Exploring the Science of the Mind. London: W.W. Norton and Co.
You should purchase a copy of the key Leeds Met booklet: Quote, Unquote: A guide to the Harvard referencing. It is also available electronically.
Another useful Leeds Met booklet is:
The Little Book of Plagiarism: What it is and how to avoid it. It is also available electronically.
4. Using your own words, outline Keynes’ theory of unstable private investment spending and the multiplier. Explain how this provides a foundation for Keynes explanation of the Great Depression. Use as your main references Heilbroner (1997), Keynes (2007) and Sheehan (2013).
Baddelely, A. (1999) Essentials of Human Memory. Hove: Psychology Press
Hamilton, I. (1982) Koestler: a biography. London: Secker and Warburg
Reisberg, D. (1997) Cognition – Exploring the Science of the Mind. London: W.W. Norton and Co.
The most important guidance that can be given is: engage with the readings recommended by the tutors. Independent research is not required. The second most important piece of advice is: answer the question posed (not the question you would have liked to answer). The most common cause of poor marks is that work submitted fails to address the question. Focus like a laser on the question and these problems are avoidable. Thirdly, note that the answer for question 6 answer will be enhanced by the inclusion of a relevant diagram(s).
Remember the assessment is designed to test your knowledge and understanding of the module’s content. Put bluntly, if you demonstrate a reasonable awareness of what you have been taught during this module you will pass. Including materials which are neither included in, nor relevant to, the module is very unlikely to be beneficial.
Do not exceed the word limit of 1750 words for each essay. Remember footnotes do NOT count towards the word limit. So in the final editing process you must decide if materials included in the main body of the work can instead feature in footnotes. If you don’t know what a footnote is…ASK!!!
Finally, make sure you include citations for the arguments you include in your essay. Moreover, you must include a complete bibliography at the end of the essay, which includes the full references for the works cited. Citations and references must be set-out using the Harvard system.

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