Economics 281
Large differences in income levels within and between countries are a characteristic of the world we live in. Also in South Africa, with one of the most unequal societies, is the difference between the haves and the have-nots clearly visible; the wealth of the high-middle income groups - with their large cars, DSTV, expensive clothing - stand in contrast to those living on the periphery, often less than a few hundred meters from one-another. While most people are today better off than earlier generations, there are still many in society that have not benefited much from the dramatic growth and development of the last few decades. In short: while we live in a world that is rapidly moving forward, there are some that's left behind.
This course is aimed at investigating these development conundrums. The first semester covers how we got to where we are now; why is Africa poorer than other regions, why a small group of people in North-Western Europe suddenly experienced a rapid growth in income in the early nineteenth century, why even within national borders massive inequalities remain (with South Africa the perfect example)? Man's eternal quest to satisfy his unquenched needs with limited resources stands central to answering these questions. In search of answers, we investigate historical examples. The development of mankind - especially the last 400 years - provides a tapestry of choices by ordinary people, leaders and countries and the consequences that it entailed. The lessons of the past help us to navigate the future with more confidence and wisdom.
Module outcomes
Students that successfully complete this course, will
- have a good understanding of the economic change of the last 400 years
- be able to refer to economic theories to explain this change and progress
- be able to differentiate between correlation and causation in economic analysis, with special reference to natural experiments in history
- have a good understanding of Africa's development dilemmas and opportunities
- be able to evaluate South Africa's position in the global economy and identify future trends
Prerequisite modules (P): Economics 114, Economics 144 OR Prerequisite Pass modules (PP): Economics 288
Continuous assessment
Credits: 32
Classes per week: 3 lectures
Module convenor: Semester 1: Prof J Fourie
Module convenor: Semester 2: Dr EG Moses
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Upcoming Seminars
Monday 28 July 202512:00-13:00
Dr Neil Rankin: Ceo Of Predictive Insights & Stellenbosch University
Topic: "TBC"
12:00-13:00
Prof Willem Boshoff: Stellenbosch University
Topic: "Two competing approaches in South African competition policy: merger control and anti-cartel enforcement over the past 30 years"
12:00-13:00
Professor Johan Fourie: Stellenbosch University
Topic: "Economic History: TBC"
BER Weekly
18 Jul 2025 Encouraging data, but messy politics while US tariff deadline loomsThe big global data prints of the week came on Tuesday, with better-than-expected Chinese GDP growth for Q2 and US core CPI coming in lower than expected, but still (finally) reflecting some signs of tariffs being passed on to consumers. Locally, the uptick in mining production and retail sales was positive for Q2 GDP dynamics. In addition to the data,...
Read the full issue
Upcoming Seminars
Monday 28 July 202512:00-13:00
Dr Neil Rankin: Ceo Of Predictive Insights & Stellenbosch University
Topic: "TBC"
12:00-13:00
Prof Willem Boshoff: Stellenbosch University
Topic: "Two competing approaches in South African competition policy: merger control and anti-cartel enforcement over the past 30 years"
12:00-13:00
Professor Johan Fourie: Stellenbosch University
Topic: "Economic History: TBC"
BER Weekly
18 Jul 2025 Encouraging data, but messy politics while US tariff deadline loomsThe big global data prints of the week came on Tuesday, with better-than-expected Chinese GDP growth for Q2 and US core CPI coming in lower than expected, but still (finally) reflecting some signs of tariffs being passed on to consumers. Locally, the uptick in mining production and retail sales was positive for Q2 GDP dynamics. In addition to the data,...
Read the full issue