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HEQF credits: 18

HEQF course level: 5

First year‚ semester course‚ 4 lectures per week and 1 tutorial.

Entrance requirements:

Admission to degree. National Senior Certificate: a pass (5) in Mathematics.

Senior students must have passed the equivalent of 6 semester courses.

Co–registration requirement:

Students must be simultaneously enrolled for or have completed STA1001 or MAM1010 or MAM1000W.

Course outline:

In any developed economy scarce resources have to be mobilised and used to meet the public’s needs. This course focusses on the processes involved, particularly those common to modern western economies. It begins with market mechanism and price formation. The background to demand (cardinal and ordinal utility) follow. The neo-classical theory of supply is then introduced, leading from production function analysis to the derivation of supply under perfect competition. Other market forms follow, and the course concludes with sections on factor pricing and international trade.

Course information is disseminated by means of hand–outs‚ announcements at lectures and the notice board. It is the student’s responsibility to be familiar with all course information. NOTE: Credit will not be given for both ECO1006F and ECO1010F/S.

Course convener: Cecil Mlatsheni (

Course administrator:

Last updated : 13 Jan 2017

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