Economics 348

This module concerns a wide spectrum of policy issues in the South African economy. The aim here is to familiarise the student with the most important economic policy issues and the associated action required. Furthermore, this module represents a culmination and rounding off of undergraduate study in Economics, with emphasis on the application of skills already acquired. It therefore relies on the knowledge that the student has acquired in the preceding modules in Economics and this knowledge is consolidated within the South African context. Knowledge of, and insight into, policy debates and policy-making is of great value in the public as well as the private sectors, as both are influenced by government policy. Various lecturers in the Department of Economics are either directly involved in the policy process as advisors, consultants and members of government commissions and committees, or are involved in the analysis thereof. The Economics 348 policy module is a consequence of this close involvement with policy processes and is the only one of its kind in South Africa. Various guest lecturers (for example from the Bureau for Economic Research) reinforce this strength. In addition, provision is also made for guest lectures by experts from the private and public sectors. And these lectures will also be regarded as part of the module material for the purposes of tests and examinations. The module is presented in block form, where the different topics are dealt with in consecutive classes.

Examples of policy areas aimed at by the module include macro-economic stabilisation policy (the business cycle, monetary and fiscal policy, balance of payments- and exchange rate policy), economic growth and industrialisation, growth and development, the distribution problem, distribution via the budget, social policy, environmental policy, regional integration, policy options for industrial growth and competition policy. Computer tutorials will also be a part of this module.

Prerequisite Pass module (PP): Economics 214

Prerequisite module (P): Economics 244

Corequisite module (C): Economics 318

Credits: 24

Classes per week: 4 lectures, 1 tutorial

Module convenor: Prof GA Schoombee

Work programme: Fiscal Policy

Work programme: Economic Decision-Making and the Natural Environment

Work programme: Competition Policy

Work programme: Trade and Industrial Policy

Work programme: Economic Development and Structural Issues: Distribution