Coursework for Introduction to Advanced Macroeconomics, 19-20


Complete a 2,500-word essay (50% weighting) on ONE of the following questions:


  1. What is Solow’s model of economic growth and why is it termed an exogenous growth model? Do you think the model can be improved by explicitly recognising a role for the accumulation of human capital as well as physical capital?


  1. To what extent do production externality-based models of endogenous growth constitute an advance on Solow’s exogenous growth model? In your essay ensure that you outline Solow’s model and at least one relevant endogenous growth model.



    Marking Criteria



Criteria Level of Achievement Indicators
  Fail Pass
0–19% 20–29% 30–39% 40–49% 50–59% 60–69% 70–79% 80–89% 90-100%
1 Research

Systematic identification and investigation of a range of academic and cultural sources where use is made of economic, business, and management journals.

Little or no information presented Limited amount of information presented with little or no relation to the task. Information presented does not relate sufficiently to the task; there may be evidence of rudimentary research Adequate information has been gathered and documented from readily available sources applying standard techniques Information is accurate, appropriately categorised and from a range of sources Well informed judgements made of the relative value of connected information from a wide range of sources Extensive independent research, accuracy, familiarity with the material, and sound judgements Extensive independent research, accuracy, familiarity with the material, and judgements are of exceptional standard Extensive independent research and inclusion of highly advanced material which proves challenging for the marker
  0–29% 20–29% 30–39% 40–49% 50–59% 60–69% 70–100% 80–89% 90-100%
2 Analysis

Examination and interpretation of sources

Little or no evidence of examination of source material Limited examination of sources and absence of analysis related to the task Constituent elements may be incorrectly identified; analysis may be attempted but not justified; limited use of evidence Key elements within relevant information are identified, but may lack accurate interpretation; some evidence base present Accurate interpretation of the relationships between constituent elements; detailed analysis supported by some evidence Accurate interpretation and evaluation of relationships between elements and concepts; thoroughly developed analysis and planning, supported by evidence Accurate and perhaps personally based synthesis and evaluation of elements and concepts; well-articulated purposeful analysis and planning, supported by extensive evidence


Critical and evaluative analysis underpinned by synthesized evidence Analytical evaluation exceeds expectations and is in some cases intellectually challenging for the marker
  0–29% 20–29% 30–39% 40–49% 50–59% 60–69% 70–100% 80–89% 90-100%
3 Subject Knowledge

Understanding and application of subject knowledge and underlying principles

Unable to evidence or articulate basic principles and knowledge related to the subject Little knowledge of the subject and largely absent understanding of concepts Limited knowledge of the subject and its development Evidence of understanding key aspects of the subject context, in current debates and / or historical background. References to some relevant key theories and concepts Accurate understanding of subject context. References to key theories and concepts Accurate, extensive understanding of subject context.  Evidence of appreciation of the relative significance of key theories and concepts Contributes to the subject debate by assimilating knowledge into beginnings of developed theoretical extensions Contribution to the subject matter through elements of synthesis and development of existing theoretical frameworks Develops existing knowledge through original contribution to the subject
  0–29% 20–29% 30–39% 40–49% 50–59% 60–69% 70–100% 80–89% 90-100%



4 Experimentation   Problem solving, risk taking, experimentation and testing of ideas and materials in the realisation of concepts Little or no engagement with alternative ideas and processes Limited ability to identify problems or process alternative ideas Unable to identify problems; does not understand the purpose of independent exploration of alternatives Operates within familiar and well established ideas, processes, theories and concepts; some evidence of exploration Evidence of exploration of processes, theories and concepts; may lead to potential directions for future work Evidence of conceptual independent analysis to inform further cycles of inquiry and potential future directions Unfamiliar conceptual territories may be explored A variety of diverse and unfamiliar conceptual territories are explored Unfamiliar conceptual territories are explored with confidence and impactful application
  0–29% 20–29% 30–39% 40–49% 50–59% 60–69% 70–100% 80–89% 90-100%
5 Technical


Skills to enable the evaluation and execution of ideas appropriate to the assessment; E.g. a PowerPoint presentation requires professionally made slides; or well-thought out specifications for an econometric exercise.

Execution demonstrates poor judgement and very limited command of techniques Only sporadic use of techniques with little appropriateness in the context of the task Uses limited rudimentary processes and models exercising little judgement Skills are adequate to communicate ideas; accepted models and procedures are usually applied Skills facilitate communication of ideas; evidence of checking / testing / finishing; models and procedures are used consistently and appropriately Skills facilitate practice and the communication of ideas; full command of models and procedures is evident Idea and technique are unified. Discernment and judgement are evident. Technical / modelling skills may have contributed to conceptual advances Technical modelling skills are demonstrated with ease and appropriately underpin the content Technical modelling skills have been used in very advanced manners
  0–29% 20–29% 30–39% 40–49% 50–59% 60–69% 70–100% 80–89% 90-100%
6 Communication and Presentation

Clarity of purpose; skills in the selected mode; awareness and adoption of appropriate conventions; awareness of the nature of the audience; work approaching expected employer standards or publication standards in academic journals

Ineffective use of
visual / oral / written communication conventions in the production and presentation of ideas
Large absence of use of conventions and no application of appropriate standards Partial lack of awareness and observance of conventions and standards; lack of clarity in structure selection and organisation of information; lack of awareness of audience Conventions and standards are applied; structure is clear; information selection and organisation shows awareness of audience requirements and preferences Communication media have been selected / used with good judgement; standards and conventions of use have been fully adhered to; decisions show awareness of the audience and the context The nature and strengths of appropriate communication modes have been exploited; information has been selected, organised and presented showing awareness of audience and context Message and medium are unified with personal style; the communication is persuasive and compelling; it takes full account of the relevant audience and context Communication is convincing and supportive of the content; audience is fully understood and addressed Communication underpins the analysis in coherent and creative ways; content and delivery are unified