Nalyse the problem of exhaustible resources.
I am looking for evidence of your ability to research a topic and develop and argument based on scientific methods i.e. not on opinion but on evidence. So avoid making unsupported claims and relying on generalisation. Answers which show evidence of an attempt to critically analyse and evaluate evidence are likely to attract higher marks. For all questions, make sure that you set your analysis in a framework derived from economic theory (and empirical support where appropriate).
Please ensure that you provide a reference list in the Harvard style for sources that you cite, and avoid citing internet based sources such as Wikipedia or Tutor2U. These are fine as a starting point for your research, but are not acceptable as scientific evidence. Wherever possible, use academic books and papers, reports from official sources (e.g. Ofgem, International Energy Agency, DECC) and some reliable media sources (e.g. Economist, FT, Wall Street Journal) to support your arguments. You are encouraged to use diagrams and/or tables to illustrate your work where appropriate, but if you do so, please make sure that they are fully labelled.
It is absolutely essential that you cite all references, and that you do not copy any material from any sources unless it is placed in quotation marks and fully referenced. It is poor academic practice to rely heavily on quotations. The key idea is that sources should influence and support your own ideas, but part of the skill that we are looking to develop is the ability to understand the arguments of other scholars, and to synthesise these arguments into a new perspective.