Module Outline

Faculty of Economic and

Management Sciences

Department of Economics

ECONOMICS 232 (ECO232)

Macroeconomics

2025

1
Contents
Part A: General information......................................................................................................3

1. Teaching staff and contact times...................................................................................3

2. Module overview...........................................................................................................3

3. Lecture times and venues.............................................................................................4

Part B: Teaching and learning..................................................................................................4

4. Teaching and learning activities....................................................................................4

5. Materials........................................................................................................................4

6. Module schedule...........................................................................................................5

7. Evaluation of the learning and teaching........................................................................6

8. Graduate attributes, learning outcomes and assessment.............................................7

Part C: General Information.....................................................................................................8

9. Academic honesty.........................................................................................................8
Part A: General information
1. Teaching staff and contact times
ECO232 Semester 1
Name Dr Tina Fransman
Lecturer (1st term)
Room and building 3.09 EMS Building
Phone number 021 959 2579
Email [email protected]
Consultation hours Tue, 10:00 – 12:00, Wed, 10:00 – 11:00.
(Face-to-face and online)
Name Dr Mubanga Mpundu
Module coordinator
Lecturer (2nd term)
Room and building 3.06 EMS Building
Phone number 021 959 3198
Email [email protected]
Consultation hours Mon 10:00 – 11:00, Tue 09:00 – 10:00,
Thurs 11:00 – 12:00
(Face-to-face and online)
GLA details
Class representatives Group 1:

Group 2:

Class times Hybrid (Face-to-face and online)

Tue: Group 1, Period 7 (14:55 – 15:40) in SC6

Wed: Group 2, Period 5 (12:10 – 12:55) in C5

Group 2, Period 6 (14:00 – 14:55) in C9
Group 1, Period 8 (15:50 – 16:30) in SC6

Fri: Group 2, Period 4 (11:15 – 12:00) in C9

Group 1, Period 5 (12:10 – 12:55) in SC6

For face-to-face lectures, we only meet on

Tuesdays and Wednesdays. Friday groups will
be online unless announced otherwise.

2. Module overview
Macroeconomics is the study of aggregate economics, or the economy as a whole. It studies
the total production, income and expenditure, economic growth, aggregate employment, the
general price level and changes in inflation. This course will study different models, which
are simplified versions of the real world, in order to provide a basic understanding of the
interactions between different components in the economy. For example, the change in
interest rates will affect spending and the number of unemployed individuals in the country.

The first model is IS-LM model, an extension of the simple Keynesian model introduced in
the first year. The IS-LM model combines the goods market and the financial markets –
these are discussed separately before they are combined into the IS-LM model. The labour
market is added to this model before all markets are discussed in the AS-AD model.

By then end of the course, the student should grasp the basic concepts in macroeconomics
and understand the various factors which play a role in the economy. The student should be
able to analyse and explain short-run macroeconomic questions in an open economy model.
Finally, the student should be able to understand the differences between fiscal and
monetary policies and the consequences of these.

The nature of the course is cumulative. This means chapter 3 follows on chapter 2, etc. For
ease of explanation and to improve the student’s understanding, the prescribed material
should be read before the lectures.

Pre-requisite: Pass in ECO152

3. Lecture times
Lectures will run from 10 February 2025 to 16 May 2025.

Part B: Teaching and learning

4. Teaching and learning activities
The lectures will follow a hybrid format which constitutes face-to-face and online formats. It is
expected that the students have read the prescribed material before the commencement of
the week.

5. Materials
Prescribed textbook: Blanchard, O. and Johnson, D.R. (2020). Macroeconomics: Global
and Southern Africa Perspectives. Cape Town: Pearson. 2nd Edition

Any additional material will be made available during lectures and on iKamva.

6. Module schedule
Teaching and
Week Topic Reading Assessment
learning activity

#1: Introduction Chapter 1 Face-to-face and

 Online

10 Feb – 14 Feb

National accounts Face-to-face and

#2: Chapter 2,
The goods market Chapter 3 Online
17 Feb – 21 Feb (Part 1)

Tutorial 1
Chapter 3
The goods market Face-to-face and
#3: (Part 2&3)
The financial market Online Online tutorial test
24 Feb – 28 Feb Chapter 4
due by Friday 28
(Part 1&2) Feb before
midnight

The financial market Face-to-face and

#4: Chapter 4 Online
3 Mar – 7 Mar (Part 3&4)

The IS-LM model Face-to-face and

#5: Chapter 5
Online
10 Mar – 14 Mar (Part 1)

Face-to-face and
#6: The IS-LM model Chapter 5
Online
17 Mar – 21 Mar (Part 2)

Revision of all term one Face-to-Face and

Chapters 1 – Online
#7 24 Mar – 28 Mar Chapters (Address areas
5
of concern from students)

STUDENT VACATION (29 March – 06 April)

The IS-LM model Face-to-face and

#8: Chapter 5
Online
7 Apr – 11 Apr (Part 3)

#9: The labour market Chapter 6 (Part 1)

st
(1 edition)
(Part 2) Face-to-
OR Chapter 7
 face and Online
14 Apr – 18 Apr (2nd edition)

Chapter 6
(1st edition) Face-to-face and
#10: The labour market
OR Chapter 7 Online
21 Apr – 25 Apr (2nd edition)

(Part 3&4)

Chapter 7 1st
edition: The
AS/AD
model
Face-to-face and
#11: (PDF version
AS/AD model Online
on iKamva
28 April – 2 May for students
who
purchased 2nd
edition)

(Part 1,2&3)

Chapter 7 1st
edition: The
AS/AD
model

(PDF version Face-to-face and

#12:
on iKamva Online
5 May – 9 May AS/AD model for students
who
purchased 2nd
edition)

(Part
4a,4b&4c)

Inflation, expected
inflation and Face-to-face and
#13: Chapter 8
unemployment, The Online
12 May – 16 May Philips curve (Part 1,2&3)

Study period (Also to be All Chapters Face-to-Face and

used for revision and covered in Online
17 May – 21 May address areas of the two
concern) terms
7. Evaluation of the learning and teaching
Tutorial tests:

Tutorials are compulsory. Tutorials will consist of questions like the test papers and are
designed to give students practice for the formal assessments. There are four tutorials
during the semester and the best 3 out of 4 will count toward the students’ final mark.

Assignment:

Students will be required to do one assignment that must be submitted on Ikamva. The topic
will be made known at a later stage. Penalty will apply for late submission (5% per calendar
day and 0% for more than 7 calendar days). Moreover, Student should familiarise
themselves with the policy on plagiarism. Suspected plagiarism will be dealt with
accordingly.

Module tests:

The module tests and the sick test’s time will be announced during the term in lectures and
on Ikamva. More detail on the study material for the tests will be provided in the lectures.
Moreover, absenteeism from the module test must be accompanied with the relevant
documents in order to qualify for a sick test. These documents must be submitted within five
working days after the scheduled test.

Examination:

There will be a final examination for this Module.

Marks queries:

Mark query forms will be made available for a period after the scripts become available to
students or Email Genene Pillay ([email protected]). Students will need to fill out a formal
query form stating which questions are queried and why. Check the notice board for more
information on query periods.

Breakdown of course assessment:

Assessment Weight Date

Tutorial exercises 15% Tutorial 1 – week 3

(best 3 out of 4)

Assignment 35% TBA

Module Test 1 20% TBA

Module Test 2 30% TBA

Module sick test (replacement for test 1 or TBA

test 2)

Final mark is calculated as: Continuous Assessment 50% + Final Examination Mark 50%

8. Graduate attributes, learning outcomes and assessment

Assessment tasks and criteria

UWC Teaching/

graduate Learning outcomes Tutorials

Learning Oral Test and Practic
attributes and Portfoli
activities presentat exam al
assignme o
ion questions reports
nts

Lectures

Class
● Understand macro- discussions Tutorial test
Inquiry- Assignme
economic theory N/A N/A N/A
focused In-class Module tests nt
● Use graphs and exercises
equations to explain
Tutorials
macro -economic
concepts
Lectures

● Apply macro-
Class
Critically and economic theory to discussions Tutorial test Assignme
relevantly South African N/A N/A N/A
In-class Module tests nt
literate economic issues
exercises

Tutorials

Ethically,
environmental
ly and socially N/A N/A N/A N/A N/A N/A N/A
aware and
active

Autonomous ● To work Assignment N/A N/A Assignme N/A N/A

and nt
collaborative

Skilled Assignme
Assignment N/A N/A N/A N/A
communicator nt

Interpersonal independently and a

flexibility and member in a team
confidence to Assignme
Assignment N/A N/A N/A N/A
engage nt
across
difference
Part C: General Information
9. Academic honesty
The University rules regarding plagiarism and collusion state:

“3.5 Offences
3.5.1 Offences shall consist of the contravention of any of the following rules:
3.5.1.1 Academic dishonesty in any form including, but without being limited to
plagiarism, and collusion, cheating in tests, examinations, assignment, theses
and research papers.
3.5.1.1.2 Plagiarism means to steal, or to pass off as one’s own, the formulation, idea,
words of another (i.e. appropriating the intellectual work of another person by
incorporating, without crediting such author and source, such formulation,
idea or words into one’s own work).
3.5.1.1.3 Collusion means the unauthorised, illegitimate or unjustified collaboration with
any other person in preparing work offered for credit.
A.5.1.8 Academic dishonesty: It is a serious misconduct and will be dealt with in
terms of the provisions of the University’s Disciplinary Rules for Students.
Academic dishonesty is not limited to plagiarism, cheating, collusion or
activities of that kind, but extends to all deceptions relating to academic work.”

Assignments must be a student’s own work and the mark given for an assignment is a mark
for the work done by that student alone. The assignments are not given and are not handed
in as group work.

It follows that if a student hands in an assignment that contains work that is also found in the
assignment of another student, the student must be guilty either of plagiarism or collusion.
Both are prohibited and against the rules.

All assignments will be subjected to an electronic matching with the assignments of all the
other students. Any assignments found to match more than can be reasonably expected will
be assumed to have been copied (plagiarism) or the result of collusion. It is certainly
“deception relating to academic work”.

“Working in a group” is not an excuse and will not be accepted as a reason for plagiarism or
collusion. It is, of course, legitimate to discuss the assignment questions with other students,
but that is not the same as working out the answers together or sharing out the answers.
Students can discuss a question, what it means and how it can be approached, but must still
work out the answer individually.

Any student suspected of plagiarism or collusion will receive zero for that assignment. It
does not matter who “copied” from whom, both will receive zero. Both will also receive a
warning of the offence. After a second offence, disciplinary steps will be taken against such
a student.