Economics 381
This module does not form part of Economics taken as a major subject. The role of the state in market economies is an important and controversial issue and is the topic here. The module has three parts, namely Institutional Economics, Public Economics, and Environmental Economics:
- Economic research is showing increasingly that economic behaviour is determined largely by institutions (the extent to which the justice system protects property rights, for example, has a major impact on the extent and type of investment in an economy). Institutional Economics studies various formal institutions (e.g. laws, policy rules and contracts) and informal institutions (e.g. norms and habits) and their effects on economic behaviour and development.
- Public Economics studies the various forms of market failure that provide theoretical justification for government intervention in market economies, as well the phenomenon of government failure and its implications for such intervention. This subject also provides detailed analysis of the economic effects of financing government activity by means of taxes and government borrowing.
- Environmental concerns are becoming increasingly important for economic policymakers. Environmental Economics provides economic explanations for environmental degradation. It also studies policy measures to achieve more sustainable economic development by combating the incidence of such degradation.
Continuous assessment
Prerequisite modules (P): Economics 214, Economics 244 OR Prerequisite Pass modules (PP): Economics 281
Credits: 24
Classes per week: 2 lectures, 2 tutorials
Module convenor (Semester 1): Prof Sophia du Plessis
Module convenor (Semester 1): Dr FK Siebrits
Work programme: Institutional Economics
Work programme: Public Economics (3rd term)
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Upcoming Seminars
Monday 13 October 202512:10-13:10
Prof Euan Phimister: Stellenbosch Business School
Topic: "TBA"
12:10-13:10
Dr Friedrich Kreuser: Stellenbosch University
Topic: "Allocative Efficiency, Labour Shares, and Corporate Lobbying in European Manufacturing"
12:10-13:10
Prof Masashige Hamano: Waseda University
Topic: "TBA"
BER Weekly
26 Sep 2025 Free Weekly Review | Number 37 | 26 SeptemberThis report covers the key domestic and international data releases over the past week. The more comprehensive BER Weekly Review (Enhanced Version) includes a detailed discussion on the main economic events and developments over the past week, a summary of upcoming data (the week ahead) and the BER’s forecast for key economic indicators....
Read the full issue
Upcoming Seminars
Monday 13 October 202512:10-13:10
Prof Euan Phimister: Stellenbosch Business School
Topic: "TBA"
12:10-13:10
Dr Friedrich Kreuser: Stellenbosch University
Topic: "Allocative Efficiency, Labour Shares, and Corporate Lobbying in European Manufacturing"
12:10-13:10
Prof Masashige Hamano: Waseda University
Topic: "TBA"
BER Weekly
26 Sep 2025 Free Weekly Review | Number 37 | 26 SeptemberThis report covers the key domestic and international data releases over the past week. The more comprehensive BER Weekly Review (Enhanced Version) includes a detailed discussion on the main economic events and developments over the past week, a summary of upcoming data (the week ahead) and the BER’s forecast for key economic indicators....
Read the full issue