2017 EKN120 Study component_ENG.pdf

2017 EKN120 Study component_ENG.pdf - Department of...

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Department of Economics Economics 120 Study Component
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EKN 120 _____________________________________________________________________ ____________________________________________________________________________ 2 © 2016 University of Pretoria, Faculty of Economic and Management Sciences 1. MODULE SPECIFICATION ...................................................................................................................... 3 2. LEARNING UNITS AND THEMES ........................................................................................................... 3 Learning unit 13: The S.A. economy: Private and public sectors .............................. 4 Learning unit 14: Measuring domestic output and national income ......................... 5 Learning unit 15: Basic macroeconomic relationships .............................................. 6 Learning unit 16: The Aggregate Expenditure model ................................................. 7 Learning unit 17: Aggregate demand and aggregate supply ..................................... 8 Learning unit 18: Introduction to economic growth, unemployment and inflation .. 9 Learning unit 19: Government and market failure ..................................................... 10 Learning unit 20: Fiscal policy, deficits and debt ...................................................... 11 Learning unit 21: Public choice theory and the economics of taxation .................. 12 Learning unit 22: Disputes over macro theory and policy ....................................... 13 Learning unit 23: International trade .......................................................................... 14 Learning unit 24: Exchange rates, the balance of payments and trade deficits .... 15 Learning unit 25: South Africa in the global economy ............................................. 16 Learning unit 26: The economics of developing countries ...................................... 17 Table of contents
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EKN 120 _____________________________________________________________________ ____________________________________________________________________________ 3 © 2016 University of Pretoria, Faculty of Economic and Management Sciences 1. MODULE SPECIFICATION This course deals with the core principles of economics, especially macroeconomic measurement. The private and public sectors of the South African economy receive attention, while basic macroeconomic relationships and the measurement of domestic output and national income are discussed. Aggregate demand and supply analysis stands core to this course, while students are also introduced to the analysis of economic growth, unemployment and inflation. The microeconomics of government is addressed in a separate section, followed by a section on international economics, focussing on international trade, exchange rates, and the balance of payments. The economics of developing countries and South Africa in the global economy conclude the course. 2. LEARNING UNITS AND THEMES The information given in this section of the study guide is intented to assist students in their learning in order to effectively acquire the required skills and achieve the required learning. The session proceeds on a chapter-by-chapter basis. A brief overview of each chapter is presented followed by the expected outcomes once the chapter is completed.
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EKN 120 _____________________________________________________________________ ____________________________________________________________________________ 4 © 2016 University of Pretoria, Faculty of Economic and Management Sciences Learning unit 13: The S.A. economy: Private and public sectors Overview: This chapter provides descriptive details about both the private sector (households and businesses) and the public sector (government) in our market economy. The goal is to understand households, businesses, and governmental units as the primary decision makers in our economy. (Refer also to Chapter 2 where the decision makers were also discussed).
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