Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
The unit introduces basic micro and macroeconomic principles and concepts. It discusses economic interdependence notions and gains from trade and globalisation with application to South Africa and the African continent; the role of institutions in promoting and facilitating these concepts in the international economy; theories of trade, incorporating notions of absolute and comparative advantage; modern trade theory and its extensions; empirical evidence with respect to Africa which highlight trade theory strengths and limitations; investigation and analysis of welfare effects of trade, using both theory and evidence to answer contentious concerns whether trade make the poor even poorer; whether trade restrictions necessary to protect jobs; and whether larger trade benefits accrue to developed countries more than developing countries; as well as regional integration in Africa.
The learning goals associated with this unit are to:
Within semester assessment: 40% + Examination: 60%
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.