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 … For more content click the Read More button below.
Offerings
SSB-01-SAFRICA-BLOCK-ON
Requisites
Prohibition
Prerequisite
Contacts
Chief Examiner(s)
Ms Cynthia Bedwei-Majdoub
Learning outcomes
On successful completion of 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.
Teaching approach
Active learning
Assessment summary
This unit contains a hurdle requirement that you must achieve to be able to pass the unit. The consequence of not achieving a hurdle requirement is a fail grade (NH) and a maximum mark of 45 for the unit.
Assessment
1 - Individual Assignment
2 - Semester Test
3 - Examination
Scheduled and non-scheduled teaching activities
Lectures
Workload requirements
Workload
Learning resources
Required resources