Economic and Management
Sciences Faculty
Department of Economics
Macroeconomics
ECO152
First semester 2024
Table of Contents
Part A: General Information ................................................................................................. 3
1. Teaching staff and contact times ......................................................................................... 3
2. Module overview .................................................................................................................. 4
Part B: Teaching and Learning .............................................................................................. 4
3. Teaching and learning activities ........................................................................................... 4
Learning Outcomes ................................................................................................................ 5
4. Materials ............................................................................................................................... 5
Prescribed textbook ............................................................................................................... 5
Additional textbooks and resources ...................................................................................... 6
5. Module schedule ................................................................................................................... 7
6. Graduate attributes, learning outcomes and assessment .................................................. 9
7. Assessment Schedule .......................................................................................................... 11
Feedback on assessments .................................................................................................... 11
Absenteeism from Module Test .......................................................................................... 11
Special consideration and additional assessments.............................................................. 12
Evaluation of the teaching and learning activities of the module ....................................... 12
Part C: General Information ............................................................................................... 12
8. Tutorials............................................................................................................................... 12
9. Academic honesty ............................................................................................................... 12
10. Online learning tools and resources................................................................................. 12
11. Students with disabilities ................................................................................................. 13
12. Centre for Student Support Services (CSSS) ................................................................ 13
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Part A: General Information
1. Teaching staff and contact times
Module co-ordinator and lecturer (Term 1)
Name
Ms Shinice Jackson
Room and building
Room 3.10.3, 3rd floor, EMS building
Email & Phone number sjackson@uwc.ac.za
Consultation hours
Tuesday, 09:25 – 10:10
Wednesday, 10:20 – 11:05
Thursday, 12:10 – 12:55
Upon email request
Lecturer (Term 1)
Name
Mr Jaydro Fondling
Room and building
Room 3.10.3, 3rd floor, EMS building
Email & Phone number
jfondling@uwc.ac.za
Consultation hours
Monday, 12:10 – 14:10
Tuesday, 13:00 – 14:00
Lecturer (Term 2)
Name
Prof Christie Swanepoel
Room and building
Room 3.14, 3rd floor, EMS building
Email & Phone number cswanepoel@uwc.ac.za
Consultation hours
Monday, 10:00-11:30
Wednesday, 10:00-13:00
Lecturer (Term 2)
Name
Mr Mphumzi Makeleni
Room and building
Room 3.11, 3rd floor, EMS building
Email & Phone number mmakeleni@uwc.ac.za
Consultation hours
Tuesday, 09:25 – 10:10
Wednesday, 10:20 – 11:05
Lecturer (Term 2)
Name
Mrs Rochelle Beukes
Room and building
Room 3.12, 3rd floor, EMS building
Email & Phone number rgbeukes@uwc.ac.za
Consultation hours
Monday, 10:20 - 11:05
Tuesday, 11:00 - 12:00
Thursday. 11:15 - 12:00
Upon email request
Graduate Assistant
Name
Email
Kayla Bennett
3120684@myuwc.ac.za
3
Lecture Groups
Group
1
2
3
4
Day
Period
Mon
Wed
Thur
Mon
Tue
Thurs
Tue
Wed
Thur
Tue
Wed
Thur
2
6
1
4
5
3
3
2
4
1
4
6
Venue
B2
B2
GH1
S1
B1
GH1
2. Module overview
Macroeconomics is the study of aggregate economic behaviour. It focuses on the “big picture”
and studies concepts like gross domestic product (GDP), inflation, balance of payments,
economic growth and macroeconomic policy. We will use the theory as a way of understanding
how the economic world we live in works and how this is relevant in our lives. In this semester,
we focus on the whole economy, rather than individuals (consumers and firms) which we focus
on in the second semester in Microeconomics (ECO151).
Macroeconomics requires specific language in order to understand the behaviour of the whole
economy. You will learn this technical language, often used in the media, like GDP and
personal consumption expenditure, investment, inflation, interest and exchange rates. These
concepts help understand the world of business and trade. In this course we will introduce these
concepts and an understanding of the relationship between them will be developed.
Pre-requisite: None
Co-requisites: QSC131 or QSC132 or MAM126 or MAM127 or QSA131 or
QSA132. (Non-EMS students – subject to availability)
Part B: Teaching and Learning
3. Teaching and learning activities
The course has three main components: readings, lectures and tutorials. These are designed to
work together to provide the student with a good understanding of the work. It is the
responsibility of the student to do the prescribed readings before the lectures, as well as attend
the lectures and tutorials.
There are 3 lectures per week. Students are encouraged to actively participate in the class
discussion. Asynchronous learning will take place in week 1, 7 and 11. It is the student’s
responsibility to watch the lecture recordings before lectures and to complete all exercises during
these weeks. Face-to-face lectures will take place during the following weeks, 2-6, 8-10 and 1213. Lecture content will be posted on Ikamva weekly. The online content is supplemented with
face-to-face sessions. Refer to section 5 in the module schedule for more information. Students
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are encouraged to actively participate in the face-to-face session and online discussions (on
Ikamva).
There will be 4 tutorials comprising of a face-to-face tutorial (where students work through
exercises with the tutor) and an online tutorial assessment following each tutorial in the
subsequent to be complemented on Ikamva below the tests and quizzes tab. It is compulsory that
students complete and submit each tutorial exercise during each tutorial session to receive the
allocated tutorial mark. The online tutorial assessments will take place on the Friday in the week
that the tutorial has taken place and to be completed on
Ikamva. The tutorials exercises and the tutorial assessments contribute towards the students’
continuous assessment mark. For the tutorial exercises and assessments, the best 3 of 4 will
count for the Continuous Assessment Mark (CAM). If a student has written less than 3 tutorial
exercises or assessments, only those written will be captured and used. There will be NO makeup tutorials or online tutorial assessments for medical or other reasons.
There will be two module tests. Module test 1 will be an online test, to be completed on Ikamva
below the tests and quizzes tab, you have will 1 hour 30 minutes to complete the test once started
with a total of 40 marks. Module test 2 will be a sit-down test on campus for 2 hours with a total
of 50 marks.
The final exam will be a sit-down exam on campus.
It is imperative that students keep abreast of any changes that may arise during the course. The
onus rests on the student to ensure that you regularly consult the notice board, announcements
on Ikamva and attend lectures for information, changes in evaluation dates, course content, etc.
The department does not accept responsibility should the student fail to comply with this
instruction.
Learning Outcomes
Upon completion of this module, a student should be able to:
•
Explain the key basic theories of macroeconomics associated with output, unemployment
and inflation.
•
Explain the role of fiscal and monetary policy in addressing problems of unemployment,
inflation and growth in a developing country such as South Africa.
•
Apply basic mathematical skills for algebraic and graphical analysis relevant to
Macroeconomics.
4. Materials
Prescribed textbook
•
Mohr, P. 2018. Understanding Macroeconomics, 2nd edition. Pretoria: Van Schaik Publishers.
(Referred to as “Macro” in the work plan below.)
The first edition may also be used. Students are, however, advised that the first edition is
significantly different from the second edition.
The textbook is available from Van Schaik bookstore, Parow Centre, and Juta bookstore,
Parow. Make sure you can access and use the textbook. All readings must be done before
the lectures. It is imperative to read your textbook! You will not pass this module if you
rely on lectures and lecture slides alone.
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•
Study guide for ECO151/ECO152 are available for R20 each, must be paid in cash at the
department. They include examples and practice questions.
Student support
•
Please make use of the following resources (click on links below) to ensure that you have the
best chance of succeeding in this module:
- Academic support
- Overall support
Additional textbooks and resources
UWC Economics Youtube channel:
https://www.youtube.com/channel/UC-FOPCuh0zDUyh1CZnQEXg
CORE, 2017. The Economy: Economics for a changing world. Oxford: Oxford University
Press. (Referred to as “CORE” in the work plan below.) This textbook is more technical than
required at the first-year level and not written for the South African context. However, given
the changing nature of the world economy and South African universities, the content may be
referred to in some cases. It is available as an open resource online at:
https://www.coreecon.org/.
Mohr, P. 2016. Economic Indicators, 5th edition. Pretoria: University of South Africa Press.
Other resources, such as media reports or statistical releases, may also be made available on
Ikamva. These readings are to familiarise students with the application of the macroeconomic
theory, especially in the South African context and economy.
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5. Module schedule
1st term: 12 February to 20 March (Weeks 1 – 7); 2nd term: 02 April to 17 May (Weeks 8 – 13)
Date
Week Lecture Topic
Chapter
1
Course outline and introduction
None
12 – 16 Feb
The Capitalist revolution
CORE: Chapter 1 Slides
1
2
Asynchronous
Brief history of economic thought
(self-study)
3
Basic concepts
Chapter 1 (online)
4
Basic concepts
Chapter 1
19 – 23 Feb
5
Money and monetary policy
Macro: Chapter 2.1-2.4 CORE:
2
Face-to-face
Chapter 10.1 (self-study)
6
Money and monetary policy
Macro: Chapter 2.5-2.9
Class exercise
7
The government and fiscal policy
Macro: Chapter 3.1-3.3
26 Feb – 1 Mar
3
8
The government and fiscal policy
Macro: Chapter 3.4-3.6
Face-to-face
9
The government and fiscal policy
Macro: Chapter 3.4-3.6
Class exercise
10
The foreign sector
Macro: Chapter 4.1-4.3
4 – 8 Mar
4
11
The foreign sector
Macro: Chapter 4.3
Face-to-face
12
Measuring the performance of the economy
Macro: Chapter 5.1-5.2
Class exercise
13
Measuring the performance of the economy
Macro: Chapter 5.3-5.4
11 – 15 Mar
14
Measuring the performance of the economy
Macro: Chapter 5.5-5.7
Face-to-face
5
(online)
CORE: Chapter 1.2-1.4 (selfstudy)
15
Revision
Macro: Chapter 1 – 5
16
A simple Keynesian model
Macro: Chapter 6.1-6.2
18– 20 Mar
6
17
A simple Keynesian model
Macro: Chapter 6.3-6.5
21 Mar P.H
A simple Keynesian model
Class exercise
Face-to-face
Assessments
Tutorial 1: in class
exercises and online
assessment: Chapters 1-2
Tutorial 2: exercises and
online assessment:
Chapters 3-4
WEEK BREAK (21 March – 01 April)
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18
19
A simple Keynesian model
A simple Keynesian model
Revision
8
20
21
22
Keynesian model with government
Keynesian model with government
Keynesian model with all four sectors
9
23
24
25
Macro: Chapter 7.1
Macro: Chapter 7.1-7.2
Macro: Chapter 7.2
Class exercise
Keynesian model with all four sectors
Macro: Chapter 7.3
The full Keynesian model: Class exercises
Class exercise
Fiscal and monetary policy in the Keynesian model Macro: Chapter 8.1
10
26
27
28
More on macroeconomic theory and policy
More on macroeconomic theory and policy
Inflation
29
Inflation
30
Unemployment
Unemployment
Macro: Chapter 11.1
Class exercise
CORE: Chapter 9.2 (self-study)
12
31
32
33
Economic growth and business cycles
Economic growth and business cycles
Economic growth and business cycles
Macro: Chapter 12.1-12.4
Macro: Chapter 12.1-12.4
Class exercise
13
34
35
36
Revision
Revision
Revision
(online)
(online)
(online)
02 – 05 Apr
7
01 Apr P.H
Asynchronous
8 – 12 April
Face-to-face
15 – 19 April
Face-to-face
22 – 26 April
Face-to-face
29 April – 03
May
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1 May P.H
Asynchronous
06 – 10 May
Face-to-face
13 – 17 May
Face-to-face
Macro: Chapter 6.6-6.9
Class exercise
Revision
(Module Test 1:
Chapters 1 -6)
To be confirmed
Tutorial 3: exercises and
online assessment:
Chapters 5-6
Macro: Chapter 9.3-9.4
Macro: Chapter 9.3-9.4
Macro: Chapter 10.1-10.2
Class exercise
Macro: Chapter 10.3, 10.5
(Module Test 2:
Chapters 6 -10)
To be confirmed
Tutorial 4: exercises and
online assessment:
Chapters 7-9
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6. Graduate attributes, learning outcomes and assessment
Assessment tasks and
criteria
UWC
graduate
attributes
Learning outcomes*
Teaching/Learning
Oral
Test and
activities
presentation exam
Tutorial/Assignments
questions
Practical
reports
Portfolio
N/A
N/A
•
To understand the
foundational
concepts of
economic
principles (demand
and supply theory,
circular flow,
GDP, economic
growth, inflation,
unemployment
Inquiry-focused
, etc.) To apply
their understanding
through the use of
basic mathematical
skills
(derive
relationships
Lectures
Class discussions
In-class exercises
Tutorials
N/A
Test 1
Test 2
Tutorials
Online Test
9
between
economic
variables)
Critically and
relevantly
literate
Ethically,
environmentally
and socially
aware and active
Autonomous
and
collaborative
Skilled
communicator
Interpersonal
flexibility and
confidence to
engage across
difference
• 1,2
N/A
Lectures
Class discussions
In-class
exercises
Tutorials
N/A
N/A
Test 1
Test 2
N/A
N/A
Tutorials
Online Test
N/A
N/A
N/A
N/A
N/A
N/A
•1
•1
To
work
productively
in
cooperative
learning groups
Class discussions
Tutorials
Class discussions
Tutorials
Lectures Class
discussions
In
class exercises
Tutorials
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Tutorials
Online Test
N/A
N/A
N/A
N/A
N/A
N/A
*Refer to page 3
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7. Assessment Schedule
Assessment
Weight
Tutorial
homework
exercises
8% x 3
=
24%
Tutorial online
assessment
8% x 3
=
24%
Marks
&
Structure
Duration
MCQs &
20 marks
Structured questions
40
minutes
20 marks
Multiple choice
questions (MCQs)
Date*
See module
schedule
See module
schedule
MCQs 10 questions
(10* 2 = 20)
Module Test 1
Online
22%
1 hour 30
minutes
40 marks
True/False
5 questions
(5* 2 = 10)
(To be confirmed)
Fill in the blanks
5 questions
(5* 2 = 10)
MCQ 10 questions
(10* 2 = 20)
Module Test 2
Sit down
30%
2 hours
50 marks
30 Mark Structured
questions
(To be confirmed)
*Also see the lecture schedule on pages 7 and 8.
Final mark is calculated as: (course mark x 50%) + (exam mark x 50%)
Feedback on assessments
The feedback on tutorial exercises will be ongoing, while those for module tests will take place
during subsequent tutorials and lectures. We ask for patience with feedback on assessment
marking (at least two-three weeks) since there are close to 1000 students registered for the
course and only a limited number of lecturers and tutors who can do the marking.
Absenteeism from Module Test
There are two module tests scheduled for the ECO152. All absences must be accompanied by
the relevant valid documentary proof (certified medical/death certificates/police affidavits), to
be submitted within 5 working days to Genene Pillay Undergraduate Administrative
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Officer Department of Economics, Third floor, Room 3.10.1, EMS Building,
gcpillay@uwc.ac.za. Only with the necessary and relevant documentary proof will students
be allowed to write the sick/clash test.
In case of a clash with another test, students are permitted to either apply for a sick test or to
write the tests back-to-back. If students want to write back-to-back, they must inform and apply
at Faculty Admin on the second floor of the EMS Building.
Special consideration and additional assessments
Additional assessments are only allowed under certain circumstances (e.g., on medical or
compassionate grounds). Please refer to the UWC General Calendar for all assessment rules.
Students should be aware of the deadline if there is a need to query marks received. To query
marks received, the student should fill in a form with Genene Pillay (see details above).
Evaluation of the teaching and learning activities of the module
Students will receive a module evaluation form at the end of the semester to evaluate the quality
of lectures, tutorials, the lecturer(s), tutor(s), and self-reflect on their own learning throughout
the course.
Part C: General Information
8. Tutorials
Attendance of tutorials is compulsory. Experience over many years has shown that students
who regularly attend tutorials are better prepared and fare much better in tests and exams than
those who do not attend. The tutorial class exercises will contain structured questions while the
tutorial online test will contain multiple-choice questions. The tutorial questions are designed
to prepare students for tests and assignments that feature similar questions.
9. Academic honesty
Any form of academic dishonesty, whether during tests or the fraudulent submission of
documents, will be subject to the rules outlined in the UWC General Calendar. Tutorial tests
must also be your own work, not a group effort.
Students are not allowed to commit plagiarism by copying or ‘consulting’ each other’s answers.
Students committing plagiarism will receive 0%. The matter will be forwarded to the
Departmental Head (HOD).
10. Online learning tools and resources
Under Course Resources on Ikamva, you will find a folder called ‘Online learning tools and
student support resources’ which contain important documents with information on how to
optimize online learning using the available tools:
- Frequently asked questions about the VPN and data
- Useful links (compiled by CIECT) on how to use Ikamva.
You are expected to work through both of the above documents.
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11. Students with disabilities
If you have any type of disability, please inform the lecturer after the first lecture. Necessary
support during exams will be provided by the centre for student support.
12. Centre for Student Support Services (CSSS)
CSSS provides students with psychological services, counselling and rehabilitation from
substance abuse. The UWC Student Counselling Helpline on 0800 222 333 (available after 5pm
on weekdays and available 24 hours on weekends and public holidays. Free from cell phones
and landlines)
•
•
•
•
Send an SMS to 31393 and a counsellor will call you back (24 hours a day)
Email office@anxiety.org.za and a counsellor will call you back.
Fill in the online contact form on the SADAG website (24 hours)
Join the SADAG online counselling platform from 10am-2pm every day to speak to a
counsellor online
NOTE:
STUDENTS ARE OBLIGED TO CHECK THEIR UWC EMAILS AND IKAMVA
REGULARLY REGARDING IMPORTANT NOTICES FOR ECO152 AND OTHER
MODULES
ENSURE THAT YOU ARE WORKING FROM THE MOST RECENT VERSION OF THE
MODULE OUTLINE
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