ECS2731 Intermediate microeconomics
Faculty of Business and Economics
ECS2731 Intermediate microeconomics is a level 2, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2021 in Summer B at South Africa. It needs ECF1100, ECS1101, ECW1101 or ECB1101 and unlocks 5 units.
- Credit points
- 6
- Offered in 2021
- Summer B
- South Africa
- Assessment
- Exam 60%
- and 2 other tasks
- Workload
- 144 hours
- per semester
The 2027 handbook has no page for ECS2731. This is its 2021 entry, the latest one.
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Requisites
Before ECS2731
Prerequisites
Pass these before you enrol.
Prohibitions
You can't enrol if you have passed any of these.
After ECS2731
5 units list ECS2731 as a prerequisite or corequisite.
Equivalent units
The same content under another code. Only one of them counts.
Overview
This unit reviews the contemporary microeconomic principles. Consumer and producer theory focusing on individual consumers and firms, market processes, demand patterns, cost structures, market conditions, pricing policies, and the impact of regulation on business decisions are discussed. Cases and problems from the prescribed text, South African media, and online resources illustrate how economic concepts can be applied to specific industries. Analytical techniques and quantitative tools link the concepts to measurement and decision-making.
Offerings in 2021
| Teaching period | Campus | Mode |
|---|---|---|
| Summer semester B | South Africa | Block on |
Assessment
- Individual Assignment15%
- Semester Test25%
- ExaminationThreshold hurdle60%
Learning outcomes
When you finish this unit, you should be able to:
- 1
understand how markets work
- 2
understand how customers value products
- 3
understand which production and cost measures are relevant for decision making
- 4
understand how competition affects business decisions on investment, production, and pricing in different market structures
- 5
understand how changes in foreign exchange rates, technology, incomes, government regulations, sources of energy, the balance of payments impact on decision making.
Workload and teaching
- Lectures144 hours
- Teaching approachActive learning
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
Lecture and tutorials or problem classes
Three principles drive the teaching approaches in this unit:
Constructive Alignment: Learning is strategically aligned to achieve the learning outcomes, as demonstrated through the assessment. Through the weekly lessons you should see clear connections to the assessment program, and learning should be directly transferrable to the assessment program.
Scaffolding: Starting from lower level learning, new knowledge and skills are progressively introduced adding complexity and connections, and expecting higher-order learning. Within each lesson, and across the unit, building upon early activities, you should see your knowledge and skills demonstrate higher capabilities.
Team-Based Learning: Learning is social and interactive, and best achieved through purposefully designed activities that include these interactions. Through your personally developed and shared learning activities you should develop, analyse, connect, synthesise, interpret, evaluate, justify… more than you could on your own.
Learning resources
Required resources
Hirshey, M; Bentzen, E and Scheibye, C.. (2019), Managerial Economics, 15th Edition, Cengage, Australia.
Contacts
- Chief Examiners
- Ms Cynthia Bedwei-Majdoub
Common questions
What are the prerequisites for ECS2731?
You need ECF1100, ECS1101, ECW1101 or ECB1101 before you enrol.
What can I take after ECS2731?
ECS2731 is a prerequisite or corequisite for 5 units, including ECF3900, ECM3810, ECS3121, ECS3830 and ECW3830.
When is ECS2731 offered?
In 2021, ECS2731 runs in Summer B at South Africa.
How much work is ECS2731?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ECS2731 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 2 other tasks.
More details
- Credit points
- 6
- Level
- 2
- Study level
- Undergraduate
- Faculty
- Faculty of Business and Economics
- Organisational unit
- Department of Economics
- Type
- Coursework
- EFTSL
- 0.125
- Student contribution
- SCA Band 4
- Study abroad
- Not available
- Handbook years
- 20202021