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ZUG4034 - Macroeconomics

15 credits

Honours degree – Module

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


Business, Engineering and Technology


South Africa

  • Second Semester 2018


This module provides an advanced treatment of macroeconomics and the current practice of macroeconomic policy. The module extends the core materials in the field of macroeconomics beyond that covered in Intermediate Macroeconomics.  The module focuses on macroeconomics for both the long run and short run by introducing and developing basic models of growth and the explanation of business fluctuations. The module intends to generate a general appreciation of how policy makers can use macroeconomic analysis in practice.


  1. Explain how economic theory flows into the construction of macroeconomic models.
  2. Apply macroeconomic models for economic forecasting.
  3. Interpret how macroeconomic models are used in economic policy formulation.
  4. Solve macroeconomic problems analytically.
  5. Undertake independent research studies in the field of macroeconomics.
  6. Evaluate different policy prescriptions for macroeconomic problems.
  7. Make macroeconomic policy predictions.


Within semester assessment: 40%
Examination: 60%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this module is 150 hours, typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The module requires on average three to four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.


ECS2730 (Intermediate Macroeconomics); ECS3141 (Money and Banking); ETS2000 (Advanced Quantitative Methods); or equivalent