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 ................................................................................................. 12
12. Centre for Student Support Services (CSSS) ................................................................ 12

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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 [email protected]
Consultation hours Tuesday, 09:25 – 10:10
Wednesday, 12:10 – 12:55
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 [email protected]
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 [email protected]
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 [email protected]
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 [email protected]
Consultation hours Monday, 10:20 - 11:05
Tuesday, 11:00 - 12:00
Thursday. 11:15 - 12:00
Upon email request
Graduate Assistant
Name Kayla Bennett
Email [email protected]

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Lecture Groups

Group Day Period Venue

Mon 2
1 Wed 6 B2
Thur 1
Mon 4 B2
2 Tue 5 GH1
Thurs 3 S1
Tue 3
3 Wed 2 B1
Thur 4
Tue 1
4 Wed 4 GH1
Thur 6

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 12-
13. 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 make-
up tutorials or online tutorial assessments for medical or other reasons.

There will be one module tests. The module test will be a sit-down test on campus for 2 hours
with a total of 50 marks.
There will be one assignment.
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 Assessments
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 Tutorial 1: in class
26 Feb – 1 Mar 3 8 The government and fiscal policy Macro: Chapter 3.4-3.6 exercises and online
Face-to-face 9 The government and fiscal policy Macro: Chapter 3.4-3.6 assessment: Chapters 1-2
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 Tutorial 2: exercises and
Face-to-face 5 (online) online assessment:
CORE: Chapter 1.2-1.4 (self- Chapters 3-4
study)
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
WEEK BREAK (21 March – 01 April)

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 A simple Keynesian model Macro: Chapter 6.6-6.9 (Module Test
02 – 05 Apr 7 18 A simple Keynesian model Class exercise Chapters 1 -6)
01 Apr P.H 19 Revision Revision To be confirmed
Asynchronous Sit Down
20 Keynesian model with government Macro: Chapter 7.1
8 – 12 April 8 21 Keynesian model with government Macro: Chapter 7.1-7.2
Face-to-face 22 Keynesian model with all four sectors Macro: Chapter 7.2
Class exercise
23 Keynesian model with all four sectors Macro: Chapter 7.3 Tutorial 3: exercises and
15 – 19 April 9 24 The full Keynesian model: Class exercises Class exercise online assessment:
Face-to-face 25 Fiscal and monetary policy in the Keynesian model Macro: Chapter 8.1 Chapters 5-6

26 More on macroeconomic theory and policy Macro: Chapter 9.3-9.4

22 – 26 April 10 27 More on macroeconomic theory and policy Macro: Chapter 9.3-9.4
Face-to-face 28 Inflation Macro: Chapter 10.1-10.2
Class exercise
Macro: Chapter 10.3, 10.5
29 Inflation
Assignment
29 April – 03 11 Unemployment Macro: Chapter 11.1
May 30 Unemployment Class exercise
1 May P.H CORE: Chapter 9.2 (self-study)
Asynchronous
31 Economic growth and business cycles Macro: Chapter 12.1-12.4 Tutorial 4: exercises and
06 – 10 May 12 32 Economic growth and business cycles Macro: Chapter 12.1-12.4 online assessment:
Face-to-face 33 Economic growth and business cycles Class exercise Chapters 7-9

34 Revision (online)
13 – 17 May 13 35 Revision (online)
Face-to-face 36 Revision (online)

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6. Graduate attributes, learning outcomes and assessment

Assessment tasks and

criteria
UWC Learning outcomes* Teaching/Learning
graduate activities Oral Test and
attributes presentation exam Tutorial/Assignments Practical Portfolio
questions reports

• To understand the
foundational
concepts of
economic
principles (demand
and supply theory,
circular flow,
GDP, economic
growth, inflation,
Lectures
unemployment Test 1 Tutorials
Class discussions
Inquiry-focused , etc.) To apply N/A Test 2 Online Test N/A N/A
In-class exercises
their understanding
Tutorials
through the use of
basic mathematical
skills (derive
relationships

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 between
economic
variables)

Critically and Lectures Tutorials

relevantly • 1,2 Class discussions N/A Test 1 Online Test N/A N/A
literate In-class Test 2
exercises
Tutorials
Ethically,
environmentally
and socially N/A N/A N/A N/A N/A N/A N/A
aware and active

Autonomous N/A
and •1 Class discussions N/A N/A N/A N/A
collaborative Tutorials
Skilled Class discussions N/A
•1 N/A N/A N/A N/A
communicator Tutorials
Interpersonal
flexibility and To work Tutorials
Lectures Class
confidence to productively in discussions In N/A N/A Online Test N/A N/A
engage across cooperative class exercises
difference learning groups Tutorials
*Refer to page 3

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7. Assessment Schedule

Marks
Assessment Weight & Structure Date*
Duration
Tutorial 8% x 3 MCQs & See module
homework = 20 marks Structured questions schedule
exercises 24%
Tutorial online 8% x 3 40 MCQs 10 questions See module
assessment = minutes (10* 2 = 20) schedule
24% 20 marks

Assignment 22% TBA TBA (To be confirmed)

MCQ 10 questions
(10* 2 = 20)
2 hours
Module Test 30% 50 marks 30 Mark Structured (To be confirmed)
Sit down questions

*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
Officer Department of Economics, Third floor, Room 3.10.1, EMS Building,
[email protected]. 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.
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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.

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
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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 [email protected] 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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