From Merchant Capitalism to Industrial Capitalism: The Role of the Triangular Trade in Shaping Modern Capitalism EC4002

Module: Capitalism

Wordcount:2.000

Maximum Word Count: 2.200

Minimum Word Count: 1.800

What were the major features of (i) the period of merchant capitalism (1500-1750) and (ii) the period of industrial capitalism (1750-1875), and in what ways did the triangular trade contribute to the transition from the one to the other?

Required Reading (compulsory for this question)

• Capps, G. (2001) 1.1. The Expansion of Europe: Mercantile Trade 1500-1750 (pp. 13-19) and 1.2. Industrial Capitalism and Free Trade: 1750-1875 (pp. 20-27). In P. Panayiotopoulos and G. Capps (eds) World Development: : An IntroductionLinks to an external site..London: Pluto.

• Williams, E. (1944/1994)Capitalism and Slavery. Chapel Hill: University of North Carolina Press. Chapter 3: British Commerce and the Triangular Trade, (pp. 51-84)

World Development( book link) : https://ebookcentral.proquest.com/lib/kingston/reader.action?docID=3386520

British Commerce and the Triangular Trade ( book link): file:///C:/Users/oikon/Downloads/Williams - 1944 - Chpt.3 Commerce and the Triangular Trade.pdf

[Please note: if you are attempting this question, you should not simply reproduce the summary of the Williams chapter that was submitted for the EC4001 Early Low Stakes Assessment as part (or all) of your answer - to do so would be 'self-plagiarism' as defined by the University (see the links to the relevant guidance and regulations, below). Rather, you should aim to use your knowledge of the Williams chapter in a new way: by bringing itinto conversation with the other required reading (Capps) to construct an answer that addresses what this particular question is asking you to do].

Instructions

1. You must state the word count at the top or bottom of the essay. The word limit is 2000 words plus or minus 10%, excluding your list of references/bibliography and any diagrams, figures, charts or tables.
2. You MUST use HARVARD STYLE of referencing in your essay and include a reference list at the end of your essay. The format that you should follow is set out in the Harvard Referencing for Business and Economics Students guide, which can be accessed If you make use of any of the lecture slides, these should be referenced as follows: (i) for in-text citations, use (Capps 2022); and (ii) for your reference list, use this format: Capps, G. (2022) 'Adam Smith I: Contexts'. EC4002 Lecture Slides. Accessed from Canvas on 29 November 2022.
3. Your essay should be typed and submitted as a Microsoft Word (.doc or .docx) or Portable Document Format (.PDF) file only.

What to do:

• Introduction

• What were the major features of merchant capitalism

• What were the major features of the industrial capitalism

• In what ways did the triangular trade contribute to the transition from the merchant capitalism to the industrial capitalism

Grades

0-5: Little if any attempt has been made to address the question as it has been posed.;

6-10: An adequate attempt has been made to answer the question, but its deeper meaning and significance in relation to this part of the module has not really been comprehended;

11-15: A satisfactory response to the question which demonstrates some comprehension of its deeper meaning and significance in relation to this part of the module. ;

16-20: A good response to the question that both comprehends its deeper meaning and significance in relation to this part of the module and attempts to develop its own position.;

21-25: A very good response to the question that both comprehends its meaning and significance in relation to this part of the module and develops a convincing argument that is notable for its originality and coherence.

25pts

This criterion is linked to a learning outcomeKnowledge and understanding (25 points)

0-5: No use has been made of the recommended reading, which was compulsory for this essay. There is also little if any knowledge or understanding of the relevant lecture material covered in this part of the module;

6-10: Some use has been made of the recommended reading, but it has not really been understood. There is only limited knowledge or understanding of the relevant lecture material.;

11-15: Satisfactory use has been made of the recommended reading, but not all of the areas it covers have been fully understood. The knowledge or understanding of the relevant lecture material is also uneven.;

16-20: Good use has been made of the recommended reading, and the areas it covers have generally been well understood. The knowledge and understanding of the relevant lecture material is also good. ;

21-25: Very good use has been made of the recommended reading and relevant lecture material. It has not only been fully understood, but has even been enhanced by independent reading and study that goes beyond expectations at this level.

25pts

This criterion is linked to a learning outcomeCritical analysis and evaluation (25 points)

0-5: The essay is descriptive and does not meaningfully deal with the key ideas or arguments of the economic thinker(s) or school(s) of thought in question;

6-10: The essay covers some of the key ideas and arguments of the economic thinker(s) or school(s) of thought in question, but struggles with them and is largely descriptive rather than analytical. ;

11-15: Although there has been a clear attempt to engage with the key ideas and arguments of the thinker(s) or schools of thought in question, their deeper meaning or significance is not always grasped and the analysis is limited.;

16-20: A good attempt to analyse the ideas and concepts of the thinker(s) or schools of thought in question, which grasps their deeper meaning or significance and even offers some critical evaluation.;

21-25: A very good attempt to critically analyse and evaluate the ideas and concepts of the thinker(s) or schools of thought in question, which not only grasps their deeper meaning or significance but does so from an independent and original position.

25pts

This criterion is linked to a learning outcomeReferencing, structure & language (25 points)

0-5: Essay has not followed good academic practice in terms of citation and referencing; structure and signposting; and clear, accurate English. This is unacceptable at University level. ;

6-10: Essay has not followed good academic practice in two of the following areas: citation and referencing; structure and signposting; and clear and accurate English. This must be addressed in future work;

11-15: Essay largely follows good academic practice in terms of citation and referencing; essay structure and signposting; and clear and accurate English, but this is not always consistent and at least one of these areas requires major improvement;

16-20: Most of the essay demonstrates good academic practice in terms of citation and referencing; essay structure and signposting; and clear, accurate English, but with some slippages.;

21-25: Essay has consistently followed good academic practice in terms of citation and referencing; essay structure and signposting; and clear and accurate English throughout.

25pts

Total points:100