ECO1010H - Microeconomics

Course Information

The ECO110H course is for first-year students who are registered for one of the following:
a) 4-year B.Com., or 5-year B.Bus.Sci., in the Commerce Faculty;
b) 4-year Gateway to the Quantitative Social Sciences in the Humanities Faculty; or
c) Property or Construction Studies in the Faculty of Engineering and the Built Environment.

Why do we have the ECO110H course?

Firstly, many students find first-year economics difficult. Part of the problem is that economics cannot be mastered by memorising. To be successful in economics you have to understand the concepts. Unfortunately, many students come to university having used rote-learning throughout their school career. The ECO110H course gives you opportunities to learn new and more effective study methods.

Secondly, economics requires a good grasp of the language of economics and mathematical (quantitative) skills. The course is structured to deal explicitly with the language of economics and the mathematical concepts required.

Those students who have done economics as a matriculation subject have a small advantage early in the course. Your knowledge will be useful it enables you to place some of the work we do in the first semester in a broader context. However, although the concepts may be familiar to you, we use them differently. The emphasis is on the application of economic theory to real world situations. Not only must you know and understand the theory, but you must also be able to use it to explain economic events. For example, you may be required to write an essay showing that you can use economic theory to explain the rise and fall in the price of oil.

That said; dont worry if you have not done economics before. No prior knowledge is assumed for this course.

We begin with several important introductory concepts, and a section on the South African economy. The remainder of the course involves the study of microeconomics. Students doing ECO110H and ECO110S write the same final examination. During the course of the year you will write 5 class tests and two essays. You will also have 22 economics tutorials to complete. All of the above will count towards your year mark.

You are required to attend a double-period economics tutorial each week. You will also attend a language & communications tutorial each week during the first semester.

ECO110H gives you an excellent opportunity to do some interesting work. It is very important that you work consistently from the very first day. Read the textbook, attend lectures, prepare the tutorials carefully, and keep up to date with current economic developments. Students who apply themselves diligently usually succeed. Do not be lulled into a false sense of security, either because you have studied the subject before, or because you are finding the subject relatively easy. We move forward quickly and the work is demanding and often difficult.

Should you experience any difficulties see your tutor, or your lecturer. We are here to help you and we want you to make a success of this course. If you are committed, you will learn a lot and enjoy what you are doing at the same time.