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  • ZUG1007 – Introduction to micro and macro economics

ZUG1007 – Introduction to micro and macro economics

Undergraduate – Unit

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

School

Business and Economics

Offered

South Africa

  • Second Semester 2017 (Day)

15 Credits

Synopsis

The unit introduces students to the essentials of economic theories and reasoning. It is designed for students who have little or no learning experience in the field of economics and are unlikely to undertake advanced studies in this field. The unit is presented in two main parts: The first part introduces students to microeconomics principles and tools required by firms, individuals and households in their decision-making processes. The second part introduces students to macroeconomic issues including aggregate economic indicators and policies that are of interest to firms, individuals, households, and governments.

Outcomes

  • Describe the basic economic principles, theory and methods generally used for economic and policy analysis.
  • Use economic analysis to explain everyday problems and decision-making.
  • Discuss the contribution of economic theories on productivity, rent extraction and other societal influences.
  • Explain the influence of factors of production, pricing on profit and national income.
  • Explain the role of macroeconomic principles on monetary and political policy as a tool to reduce poverty in society.

Assessment

Within semester assessment: 50%
Examination: 50%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 150 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.

Prohibitions

Introductory microeconomics, Introductory macroeconomics

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