6 points, SCA Band 3, 0.125 EFTSL
Undergraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
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Synopsis
An introduction to the study of economics from a macroeconomic perspective including the following areas of study: trade in a global village, GDP as National Income and Aggregate Expenditure, savings and investment, unemployment, money and the South African monetary system, aggregate demand and supply in the short and long run, monetary and fiscal policy, including the related debates in South Africa as an open economy and as a major economy in Africa.
Outcomes
The learning goals associated with this unit are to:
- gain an insight into the product, money, labour and foreign exchange markets
- develop skills in the application of economic principles to wider social issues
- gain knowledge and understanding of the South African and African economies and their operation in an international environment
- acquire the basis for more advanced studies in economics
- demonstrate in individual summative assessment tasks the acquisition of a comprehensive understanding of the topics covered.
Assessment
Within semester assessment: 40% + Examination: 60%
Workload requirements
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
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