This is an archived handbook for a previous year. The current undergraduate and postgraduate handbooks can be viewed using the links above.

Undergraduate Handbook 2021-2022 (archived)

Module ECON3311: Heterodox Economics

Department: Economics and Finance

ECON3311: Heterodox Economics

Type	Level	Credits	Availability	Module Cap	Location
Tied	3	20	Not available in 2021/2022	None.	Durham

Tied To

Pre-requisites

Macroeconomics ECON2011

Corequisites

None

Excluded Combinations

None

Aims

To explore how economics changes, once key presumptions of the mainstream orthodox modela are relaxed.
To develop and encourage critical thinking by identifying the implications of the differences between mainstream and heterodox methodology, using the knowledge acquired in second-year macroeconomics.
To consider a variety of theoretical issues and policies from the perspective of heterodox economics.

Content

The following is indicative of types of areas to be covered, Heterodox economics is placed against the background of standard mainstream economics, with the key differentiating factors highlighted. Specific issues examined are likely to include;
risk and uncertainty
money and credit
investment
expectations
under-employment
equilibrium
income distribution
output levels
the role of information
fiscal and monetary policy
financial markets and the role of the state
financial crises

Learning Outcomes

Subject-specific Knowledge

At the conclusion of the module students should:
have knowledge and understanding of Heterodox economic theory
demonstrate a grasp of the theoretical differences from the standard model;
demonstrate an understanding as to why policy implications differ from the standard model.
communicate their knowledge with non-specialists

Subject-specific Skills

At the end of this module students should be able to:
undertake critical analysis and evaluation of competing theoretical arguments;
analyse and interpret economic texts;
identify the tacit premises of policy arguments.

Key Skills

Critical thinking
Analytical reasoning
The construction of concise logical argument in prose as well as in mathematics
Time management

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

Teaching is by lectures and seminars. Learning takes place through attendance at lectures, preparation for and participation in seminar classes, and independent study.
Formative assessment is by means of a written assignment which prepares students for the examination through providing them with experience of writing the required type of answer and feedback.
Summative assessment is by means of a 2hour 30mins written examination which allows students to demonstrate the knowledge and skills acquired throughout the module.

Teaching Methods and Learning Hours

Activity	Number	Frequency	Duration	Total Hours
Lectures	22	1 per week	1 hour	22
Seminars	8	Fortnightly	1 hour	8
Preparation and reading				170
Total				200

Summative Assessment

Component	Component Weighting	Element	Length/Duration	Element Weighting	Resit Opportunity
Examination	100%	Written examination	3 hours	100%

Formative Assessment

One written piece of work of not more than 1500 words

Students who do not attend monitored activities shown under Teaching Methods and Learning Hours, or who fail to complete the summative or formative assessment(s) specified above, may be subject to the Academic Progress procedures defined in the University's General Regulation V, and may be required to leave the University.