Department of Economics

Economics 120
Organisational Component

EKN 120
_____________________________________________________________________

Table of contents
1.

2.

INTRODUCTION AND WORD OF WELCOME.......................................................................................3

1.1.

Broad learning outcomes.....................................................................................3

1.2.

Contents of this module........................................................................................3

1.3.

Critical cross-field outcomes...............................................................................3

1.4.

Instructions for using the study guide................................................................4

1.5.

Educational approach...........................................................................................4

1.6.

Pre-requisites.........................................................................................................5

GENERAL............................................................................................................................................... 6

2.1.

Contact information...............................................................................................6

2.2.

Lecture times and venues.....................................................................................6

3.

PRESCRIBED STUDY MATERIALS....................................................................................................... 6

4.

LEARNING ACTIVITIES.......................................................................................................................... 7

5.

6.

4.1.

Module credits........................................................................................................7

4.2.

Contact time and contact sessions.....................................................................7

ASSESSMENT........................................................................................................................................ 7

5.1.

Asssessment policy and regulations..................................................................7

5.2.

Assessment structure...........................................................................................8

5.3.

Evaluation dates....................................................................................................9

GENERAL / ADDITIONAL INFORMATION...........................................................................................10

6.1.

Aegrotat arrangements.......................................................................................10

6.2.

Queries regarding marks....................................................................................11

6.3.

Students with special needs...............................................................................11

6.4.

ClickUP..................................................................................................................11

____________________________________________________________________________
2

2013 University of Pretoria, Faculty of Economic and Management Sciences

EKN 120
_____________________________________________________________________

1. INTRODUCTION AND WORD OF WELCOME

Welcome to the second course of introduction to economic principles! Economics is exciting not
only for students majoring in it but also everyone else. We all make economic decisions every day
of our life consciously or not. Lets get to know more about it!!!

1.1.

Broad learning outcomes

We hope that in this course we will not only help you master the principles that are essential to
understand everyday economic problems, apply the economic perspective and reason accurately
and objectively about economic matters, but also to promote a lasting interest in economics and
the economy. In other words, we would like you to start thinking like an economist!

1.2.

Contents of this module

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.

1.3.

Critical cross-field outcomes

The critical cross-field outcomes include, but are not limited to:

Obtain a general knowledge of the working of the economy with a focus on the roles of the
private, public and external sectors of the economy.

____________________________________________________________________________
3

2013 University of Pretoria, Faculty of Economic and Management Sciences

EKN 120
_____________________________________________________________________

Identify/recognise and solve economic problems with a focus on the macro-level, i.e.
problems relating to aggregate demand and supply, basic macroeconomic measurement
and the issues related to economic growth, inflation, unemployment and international
trade.

The ability to apply basic numeracy skills to numerically and graphically analyse economic
problems, e.g. aggregate demand and supply shocks and the effect on the economy.

The ability to recall, collect and organise given information clearly and accurately.

The ability to communicate and report information clearly and accurately in spoken and
written form, using visual, mathematical and language skills.

Organise and managing oneself and ones activities responsibly and effectively with regard
to acquiring the necessary skills above.

1.4.

Instructions for using the study guide

This study guide is designed for students who follow the Economics (EKN) 120 course of the
Department of Economics at the University of Pretoria. Important administrative procedures are
detailed in this study guide, and are to be adhered to by all students. The study guide also
provides a roadmap for progressing through the course, by pointing out critical outcomes and key
concepts for each chapter.

1.5.

Educational approach

In this course three formal lectures are presented per week. Lectures will incorporate theoretical
discussions, practical applications and exercises as well as they will provoke critical thinking
through engaging activities during class.
The activities that the students should engage to are sorted in three sessions: before, during and
after lecture.
Pre-lecture: The students are expected to familiarise themselves with the chapter to be presented
the specific week. We advise the students to summarise and take notes of each chapter in
advance in order to benefit fully when the topics are discussed in class. Material relative to the
topic of the week will be posted for the students in ClickUP. In addition, as an exercise, an
____________________________________________________________________________
4

2013 University of Pretoria, Faculty of Economic and Management Sciences

EKN 120
_____________________________________________________________________
incomplete glossary will be provided for the students to complete. This task should not be
underestimated as participation will contribute towards the semester mark. (Read more on the
separate document titled Prelecture activities-what should I do?)
During lecture: The lecturers will present one chapter as a thematic session in three lectures per
week, on average. For each chapter, a set of Powerpoint slides will be posted in clickUP. Students
are advised to keep notes and improve the ones from their preparation by consulting the
presentation slides.
After lecture: Ongoing online assessment through ClickUP will help the students to make sure that
they keep up with the course and master material of the relevant study themes before progressing
through to more complicated concepts. This online assessment will take place after the completion
of a chapter and will cover topics from this chapter. This form of assessment should not be
underestimated as it will contribute towards the semester mark. In addition, students will be
provided with answers to selected end-of-chapter questions and the complete glossary. (Read
more on the separate document titled Online testing-The Rules of the game)

1.6.

Pre-requisites

Students that enrol for EKN120 are assumed to have obtained the following:
EKN110 GS* or EKN 113 GS*
At least 50%-59% Mathematics in Grade 12 examination or 60% in STK 113 and 60% in STK 123.
(*GS=40%-49% for combined final mark)

Once again, welcome to this challenging, though exciting course!

____________________________________________________________________________
5

2013 University of Pretoria, Faculty of Economic and Management Sciences

EKN 120
_____________________________________________________________________

2. GENERAL
2.1.

Contact information

Course co-ordinator

Dr Roula Inglesi-Lotz

Roula.inglesi-lotz@up.ac.za

Undergraduate officer:

Mrs Louise Cromhout

Louise.cromhout@up.ac.za

Tukkiewerf 1-09 Information desk

Telephone

Office hours 08:00-15:00 Monday - Thursday

012 420 2413

Lecturers

Names of lecturers and contact information are available on ClickUP.

Tukkiewerf Appendix
Assistants/tutors

Tutors and assistants consulting schedule, Monday to Thursday, is posted in ClickUP

and at the assistants office.

2.2.

Lecture times and venues

Group division details per degree and lecturer are posted outside all the venues. They will also be
available on ClickUP for the duration of the semester.
Also, please refer to your timetable booklet or ClickUP calendar for more information concerning
recess dates and lecture days on which other timetables will be followed. A lecture schedule with
this information is also available on ClickUP.

3. PRESCRIBED STUDY MATERIALS

The following textbook is prescribed for EKN 120: Janse van Rensburg, J., McConnell. C.R. and
Brue, S.l. 2011. Economics, Southern African Edition. London: McGraw-Hill.
Note: The above textbook will be refered to as JMB in the remainder of this study guide.

4. LEARNING ACTIVITIES
____________________________________________________________________________
6

2013 University of Pretoria, Faculty of Economic and Management Sciences

EKN 120
_____________________________________________________________________
4.1.
Module credits
This module carries a weight of 10 credits.
This indicates that a student should spend an average of 100 hours during the semester to master
the required skills (including the time spent preparing for tests and examinations). This means that
you should devote an average of 7 hours of study time per week to this module.
The notional hours include the contact time, as well as the estimated time to be allocated to selfstudy, preparation of assignments and preparation for tests and the examination.

4.2.

Contact time and contact sessions

The scheduled contact time is approximately three hours per week, which means that another four
hours per week of your own study, on average, should be devoted to the module.

5. ASSESSMENT
5.1.

Asssessment policy and regulations

A subminimum semester mark of 40% is required to gain entry to the final examination. A sub
minimum mark of 40% in the final examination, and a final mark of above 50%, is required to pass
the course.
The final examination paper will cover ALL the prescribed material taught during the course of the
semester.
Supplementary examinations will not be awarded automatically, but only at the discretion of the
course coordinator and the Head of the Department. To pass a supplementary examination, a
student must obtain a mark of at least 50% in the supplementary exam (the semester mark is not
taken into consideration in this instance). The scope of the material for the supplementary
examination again includes all the material taught during the course of the semester.

5.2.

Assessment structure

The semester mark for EKN 120 will be calculated as follows:

____________________________________________________________________________
7

2013 University of Pretoria, Faculty of Economic and Management Sciences

EKN 120
_____________________________________________________________________
Pre-lecture preparation*

5%

Online testing**

20%

Semester test 1

30%

Semester test 2

45%

Semester mark***

100%

The final mark will then be calculated as follows:

Semester mark

50%

Examination

50%

Final mark****

100%

Notes:
*

Refer to Pre-lecture activities-what should I do?

**

Refer to Online testing- The Rules of the Game

***

A semester mark of at least 40% should be obtained to gain entry into the examination.

****

A final weighted mark of 50% (average of semester test and exam) should be obtained to

pass EKN 120. In addition, a sub-minimum of 40% is required in the exam to pass. For
supplementary examination rules, see section 6.

____________________________________________________________________________
8

2013 University of Pretoria, Faculty of Economic and Management Sciences

EKN 120
_____________________________________________________________________

5.3.

Evaluation dates

The following dates and details for evaluations during the semester are to be diarised (they are,
however, subject to change):
PRE-LECTURE: Ongoing pre-lecture assessment will take place. A schedule of these assessment
opportunities will be posted to ClickUP. Refer to Pre-lecture activities-what should I do?
ONLINE ASSESSMENT: Ongoing online assessment will take place. A schedule of these
assessment opportunities will be posted to ClickUP. Refer to Online testing- The Rules of the
Game.
SEMESTER TEST 1 (Multiple choice questions (MCQ))
Date:

26 August 2013

Venue: To be announced.

Time:17:30 19:00
The allocation of students per venue will be made available on

ClickUP a few days before the test.

Date:

SEMESTER TEST 2 (50% written questions and 50% MCQ)

11 October 2013

Venue: To be announced.

Time:17:30 19:00
The allocation of students per venue will be made available on

ClickUP a few days before the test

Date:

SICK TEST (AEGROTAT) (50% written questions and 50% MCQ)

29 October 2013

Time:17:30-19:00

Venue: To be announced

Date:

FINAL EXAMINATION (Preliminary date)

09 November 2013

Time:08:00 11:00

Venue: To be announced

____________________________________________________________________________
9

2013 University of Pretoria, Faculty of Economic and Management Sciences

EKN 120
_____________________________________________________________________
Please consult the official University exam timetable (to be released by the University closer to the
exam date) in this regard to confirm the date, time and venues (where students will be divided into
groups according to surnames).
As per the timetable booklet 2013 (page 150), the timetable for supplementary examinations will
be made available in May (for the June examination) and in October (for the November
examination via the following methods:

On the web at the address: www.up.ac.za and

Posted on the general notice board between the Merensky and the Old Chemistry building,
and

Via the MTN results tel nr: 083123111.

6. GENERAL / ADDITIONAL INFORMATION

6.1.

Aegrotat arrangements

In the event of absence from a semester test, only an official medical certificate for a serious
ailment will be accepted to qualify for an aegrotat (sick) test. All medical certificates for the
semester evaluations must be handed in at Ms Cromhout (Tukkiewerf 1-09) during office hours
(07:00 15:00, Monday Thursday) within 72 hours of the evaluation. If it is not possible to
submit an official medical certificate within 72 hours, alternative arrangements should be made
within 72 hours of the test, by phone (012 420 2413), with Ms Cromhout. Note that lecturers,
assistants and other members of staff of the Department of Economics may not accept medical
certificates only Ms Cromhout will do so.
Aegrotats are NOT awarded automatically. Should the course co-ordinator not be satisfied with
the seriousness of the illness (e.g. headache or stress), or with the quality of the medical
certificate, the aegrotat will not be granted.
Medical certificates for the final examination must be handed in at Faculty Administration within
72 hours of the evaluation.

6.2.

Queries regarding marks

____________________________________________________________________________
10

2013 University of Pretoria, Faculty of Economic and Management Sciences

EKN 120
_____________________________________________________________________
Any queries regarding the grading of the written semester test must be submitted to the Academic
Office at Tukkiewerf 1-09 strictly before 25 October 2013. NO queries regarding the semester test
will be entertained after this date.
Semester marks will be available on ClickUP by 31 October 2013. It is the students responsibility
to check the accuracy of these semester marks strictly before 3 November 2013 any changes
should be brought to the attention of the academic undergraduate officer at Tukkiewerf 1-09. NO
queries regarding semester marks will be entertained after this date.
Queries regarding the exam and final marks will be dealt with strictly during the exam perusal
session (date to be announced on exam paper). NO queries regarding ANY marks will be
entertained after this date.

6.3.

Students with special needs

The University of Pretoria is keen to accommodate students with special needs. These needs are
catered for without influencing academic standards. Kindly inform the course co-ordinator in time
of any special needs in order to ensure effective accommodation.
Those students requiring additional time during tests and exams should please inform the
Department of Economics before the evaluation, and should also please present themselves to
invigilators at the time of the evaluation. Please also take a copy of the official letter, from the unit
deciding on the merits of the special need that awards you extra time, along to the test or exam
venue at the time of the test.

6.4.

ClickUP

ClickUP will be used as the primary mode of communication of important information and
announcements. Please check the EKN 120 ClickUP site regularly.

____________________________________________________________________________
11

2013 University of Pretoria, Faculty of Economic and Management Sciences