Economic and Management

Sciences Faculty
Department of Economics

Microeconomics
ECO151
Second semester 2024
 Table of Content

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
4. Materials...................................................................................................................................6
5. Module Schedule......................................................................................................................6
6. Graduate attributes, learning outcomes and assessments....................................................7
7. Evaluation of the learning and teaching on the module........................................................8
Part C.General Information...............................................................................................................8
8. Tutorial.....................................................................................................................................8
9. Academic honesty....................................................................................................................9
Part A: General Information
1. Teaching staff and contact times
TERM 3
Module co-ordinator and lecturer (Groups 3 and 4)
Name Mr Jaydro Fondling
Room and building Room 3.10.3, 3rd floor, EMS building
Email & Phone [email protected]
number
Consultation hours Tues: 11:30 – 13:00 & Wed: 12:30 – 14:00
Lecturer (Group 1)
Name Ms Mariana Moses
Room and building Room 3.03, 3rd floor, EMS building
Email & Phone [email protected]
number
Consultation hours Mon, Wed & Thurs: 12:00 - 13:00
Lecturer (Group 2)
Name Prof Derek Yu
Room and building Room 3.10.4, 3rd floor, EMS building
Email & Phone [email protected] / 959 9301
number
Consultation hours Mon, Tues & Thurs – 13:00 to 14:00
TERM 4
Lecturer (Groups 3 and 4)
Name Mr Mphumzi Makeleni
Room and building Room 3.11, 3rd floor, EMS building
Email & Phone [email protected]
number
Consultation hours Tues: 09:25 – 10:10 & Wed: 10:20 – 11:05
Lecturer (Pending)
Lecturer (Pending)
Graduate Assistant
Name Kayla Bennett
Email [email protected]
 2. Module overview
ECO 151 is a basic introduction to Microeconomics as well as Mathematical Economics. In this
module, you will learn the basic microeconomic theories on supply and demand, production, cost,
revenue and profit functions of the firms, as well as different firm structures, with a specific focus on
perfect competition and monopoly.

Furthermore, you will be introduced to some of the fundamental mathematical skills to solve various
linear and non-linear economic problems and find out the correct decisions that should be taken by the
firms and consumers in their production and consumption activities respectively.

Pre-requisite: QSC 131/132

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 reviewing the online lectures videos, as well as attend the
face-to-face lecture sessions and tutorials.

There are three lectures taking place per week for each group. Students are encouraged to actively
participate in the class discussion. Lecture content will be posted on Ikamva. The online content is
supplemented with face-to-face sessions. In addition, there are 4 take-home tutorials (where students
work through exercises with the tutor) and 4 short online tutorial tests in total. 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 be available from Thurs 18:00 to Fri
23:55 in the week that the tutorial has taken place (Any changes will be communicated in due time).
The best 3 take-home and tutorial online test results are counted towards the continuous assessment. If
a student has written less than 4 tutorial tests, only those written will be captured and used. At the
beginning of the fourth term, students will write an online test. There will be NO make-up
tutorials for medical or other reasons.

There will be no Assignment for this module.

There will be two sit-down module tests. The first module test will be at the end of Week 4. The
second module test will take place at the end of Week 10. Refer to the Module Schedule.

It is imperative to 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.

Week Session Topic Chapter Assessment

1 [Online] 1 Intro to basic economics Micro: Chapter 1.1-1.7

concepts
(22 Jul – 26 Jul) 2 Micro: Appendix A
Intro to algebra (self-study)
3 Maths: Chapter 1.1-1.4

2 [face-to-face] 1 Intro to basic economics Micro: Chapter 2.1-2.4

concepts
(29 Jul – 2 2
Aug) Intro to algebra (self-study)
3

3 [face-to-face] 1 Demand, supply and prices Micro: Chapter 3.1-3.5 TUT1 (exercises and
online assessment)
(5 Aug – 8 2 Linear economic problems Maths: Chapter 2.1-2.4
Aug)
3

4 [face-to-face] 1 Demand and supply in action Micro: Chapter 4.1-4.7 TUT2 (exercise)
(12 Aug – 16 2 Linear economic problems Maths: Chapter 2.6 MT1 (week 1-4)
Aug)
3

5 [face-to-face] 1 Elasticity: Price elasticity of Micro: Chapter 5.1-5.2 TUT2 (online

demand assessment)
(19 Aug – 23 2
Aug)
3

6 [face-to-face] 1 Elasticity: Other elasticities Micro: Chapter 5.2-5.3

(26 Aug – 30
2 Linear economic problems Maths: Chapter 2.5
Aug)
3

TERM BREAK
7 [face-to-face] 1 Theory of demand: Utility Micro: Chapter 6.1-6.5 Online MCQ test
(9 Sep – 13 approach
2 Maths: Chapter 2.7-2.8 (Week 2-6)
Sep)
Linear economic problems
3

8 [face-to-face] 1 Theory of revenue, production, Micro: Chapter 8.1-8.4 TUT3 (exercises and
(16 Sep – 20 cost and profit online assessment)
Sep) 2

9 [face-to-face] 1 Differential calculus Maths: Chapter 1.5

(23 Sep – 27
2 Non-linear economic problems Maths: Chapter 3
 Sep) 3

10 [face-to- 1 Perfect competition Micro: Chapter 9.1-9.7 MT2 (week 5-8,

face] (30 Sep – basic maths on
2 Non-linear economic problems Maths: Chapter 3
4 Oct) calculus)
3

11 [face-to- 1 Monopoly and imperfect Micro: Chapter 10.1-10.4 TUT4 (exercises

face] competition and online
2 Maths: Chapter 3
assessment)
(7 Oct – 11 Non-linear economic problems
Oct) 3

12 [Blended] 1 Revision Special ex week 8-9

(14 Oct – 28 2 Special ex week 10-
Oct) 11
3
Special tut5 week11

13 [Blended] 1 Detailed discussion of MT1 and Day 1: MT1

MT2?
(21 Oct – 22 2 Day 2: MT2
Oct)

4. Materials
The following textbooks and instruments are prescribed for the course.

Prescribed textbooks
o Mohr, P., Seymore, R. & Yu, D. 2018. Understanding Microeconomics. 2nd
edition. Pretoria: Van Schaik Publishers. ISBN 9780627036156

o Yu, D. 2017. Basis Mathematical for Economics Students. 2nd edition. Pretoria: Van Schaik
Publishers.
 5. Module Schedule

Assessment Weight Date Time

Homework Tutorial 5% x 3 = 15% Handed in during tutorial

exercises (Take- (15 marks each) periods
home)
Online Tutorial 8% x 3 = 24% Fridays: During the tutorial Available from the
exercises (20 marks each) week Thurs 18:00 to Fri
23:55 – 40 mins to
complete
Online test 10% First Week of 4th term TBA

Module Test 1 21% Week 4 1 hour

[Weeks 1-3]

Module Sick Test 1 21% 1 hour

Module Test 2 30% Week 10 2 hours

[Weeks 4-8]

Module Sick Test 2 30% 2 hours

The FINAL MARK is calculated as [CAM (50%) + Final Exam (50%)]

 6. Graduate attributes, learning outcomes and assessments
UWC graduate Learning outcomes Teaching / Assessment tasks and
attributes Learning criteria
activities
Test and Tutorials /
exam
questions Assignment
s

Inquiry- • To learn the basic Lectures Module Tutorials

focused microeconomic theories:
supply and demand, Class discussion Test
revenue, cost, production
Tutorials Exam
and profit of the firms, as
well as profit Online Tests
maximization in perfect
Critically and competition and Lectures Module Tutorials
relevantly monopoly.
• To apply mathematical Class discussion Test
literate
skills to solve various Tutorials Exam
linear economic problems
Online Tests
(e.g., solving for
equilibrium price and
quantity, deriving
consumer and producer
surplus, elasticity values,
etc.) and non-economic
problems (e.g., production
decisions that would
minimize cost for the firm,
profit
maximization, etc.)

Ethically, N/A N/A N/A N/A

environmentall y
and socially
aware and active

Autonomous N/A N/A N/A N/A

and
collaborative

Skilled N/A N/A N/A N/A

communicator

Interpersonal N/A N/A N/A N/A

flexibility and
confidence to
engage

Feedback on assessment
Tests results will be available to students once marking is complete. The most common errors will be
communicated. Students with specific challenges should consult with their lecturer during the
specified consultation times.

Absenteeism from Module Test

There are two module tests scheduled for the ECO151. 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 Ms. 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.

Special Consideration and additional assessments

Special Exams and 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 also be aware of the deadline if there is a need to query the marks
received. To query marks received, the student should fill in a form with Mrs. Genene Pillay (see
details above).

7. Evaluation of the learning and teaching on 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 their self-reflection on their own learning.

Part C.General Information

8. Tutorial
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 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
Tutorial homework exercises, online test exercises and assignments are individual work. 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).