Rhodes University Undergraduate Economics Course 1
Economics 1
Economics 1 consists of TWO one-credit courses (1 per semester):
CODE, COURSE, CREDIT , SEMESTER OFFERED
ECO 101, Microeconomics , 1.00 , 1
ECO 102, Macroeconomics , 1.00 , 2
ECO 101 – MICROECONOMICS
* Fundamental economic concepts
* Comparative economic systems
* Demand, supply and market equilibrium
* Elasticities of demand and supply
* Consumer behaviour
* Production and costs
* Price and output determination under competitive and monopolistic conditions
* The South African economy, structure and development
ECO 102 – MACROECONOMICS
* National income accounts
* Index numbers
* Determination of national output, income and employment
* Money and banking
* Quantity theory of money
* Money, prices and output
* Unemployment
* Inflation
* Introduction to international economics