EECF1614 / EFEC2614

BASIC MICROECONOMICS

NQF level 6

16 credits

Department of Economics

& Finance

Compiled by

Mrs. L Janse van Rensburg

2025

Faculty of
Economic and Management
Sciences
TABLE OF CONTENTS
1. Instructor Information.................................................................................................. 2
2. Module Description...................................................................................................... 3
3. Graduate Attributes ..................................................................................................... 4
5. List of materials ........................................................................................................... 5
6. Assessment of learning ............................................................................................... 6
Online assessments (OA) EXPLAINED .......................................................................... 8
Online assessments (OA) EXPLAINED Continue .......................................................... 9
7 Policies and expectations ......................................................................................... 10
8 Evaluation procedures .............................................................................................. 11
9 Module Schedule ....................................................................................................... 11

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 1. INSTRUCTOR INFORMATION

LECTURER Bloemfontein Campus

Lecturer: Mrs. Lizelle Janse van Rensburg (Bfn)

Office number: FGG 338

Email address: jvrensep@ufs.ac.za

Phone number: 051 401 2545

Consultation Hours Mondays, 8:00 – 10:00

Wednesdays, 11:00 – 13:00

LECTURER South Campus

Lecturer: Mrs. Jorina Schlebusch (South)

Office number: FGG 338

Email address: SchlebuschJC@ufs.ac.za

Phone number: 0844543454

Consultation Hours Before during or after class or by appointment only since my office not
on South Campus. Thus, consider your timetable and transport, then mail
me and give two or more time slots that will suit you.

MARKS CO-ORDINATOR

Name: Mrs Hettie van Tonder

Office number: FGG 344

Email address: vtonderh@ufs.ac.za

Phone number: (051) 401 2166

Consulting hours: Monday to Friday: 09:00 - 12:30 by appointment only

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 2. MODULE DESCRIPTION

Discover how the world really works! This module introduces you to microeconomics, the study
of how individuals, businesses, and societies make choices about scarce resources. Through
relatable examples - from buying your favourite snack to understanding how prices are set -
we’ll explore key concepts like supply and demand, market structures, and decision-making.
No prior knowledge? No problem! This module is designed for curious minds eager to
understand the basics of economic thinking and its role in shaping everyday life. By the end,
you’ll gain skills to analyse real-world situations and make informed choices. Join us and start
your journey into the world of economics!

After successful completion of this module, you should be able to:

• Give a clear distinction between microeconomics and macroeconomics; positive

economics and normative economics.
• Clearly apply economic concepts, principles and theories in the context of current
economic issues and problems.
• Critically discuss the workings of a market economy, and how it affects individuals and
institutions operating within such a system.
• Discuss decision making processes by economic agents like consumers on utility
optimization and producers on profit maximization.
• Appraise/ evaluate the role of government in the market economy.
• Make rational and consistent judgments in matters where economic influences are at
work.
• Critically discuss the different market structures and their applicability in real life.
• Apply the skills of literacy, numeracy, data handling and the ability to communicate
logically and effectively in an economic context.

It is important to note that the emphasis is not only on knowledge but the ability to apply the
theory and to analyse economic concepts is also very important.

Your learning will be supported by the following:

• Lectures and Tutorials: Weekly lectures to cover theoretical foundations,

accompanied by tutorials for practical application and discussion of key topics.

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 • Office Hours: Availability of the lecturer and teaching assistants for personalised help
and further explanation of complex concepts.
• Online Resources: A comprehensive suite of online materials, including lecture
videos, supplementary readings, and interactive simulations to reinforce
understanding.
• Study Groups: Peer-led study groups to foster collaborative learning and deepen
comprehension through discussion.
• Assessment Feedback: Detailed feedback on coursework and exams to guide
students in their academic development and mastery of the material.

This module is designed to provide students with a solid foundation in macroeconomic theory
and practice, preparing them for more advanced courses in economics, as well as enhancing
their ability to critically evaluate economic policies and their implications for society.

3. GRADUATE ATTRIBUTES

Critical thinking is enhanced as you analyse the effects of supply and demand shifts,
interpret elasticities, and evaluate market efficiencies. Problem-solving skills are encouraged
when applying theoretical models to real-world scenarios, such as evaluating how minimum
wage laws or government policies affect market outcomes in South Africa.

In addition, written communication will develop through graph drawing, which is a vital skill
for conveying complex economic concepts visually. Community engagement will also grow
as you consider how government policies influence individual decision-making, fostering an
understanding of their impact on South African communities. These attributes prepare you
for academic and societal contributions.

4. HOW LEARNING WILL TAKE PLACE

In our flipped classroom approach, students can expect to engage with lecture materials and
readings independently before class, allowing us to focus on interactive, discussion-based
sessions where we apply and deepen our understanding of microeconomic concepts
through collaborative activities and real-world problem solving.

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Here's what the Flipped Classroom approach means to you:

Theory Lectures: These will be pre-recorded and provided to you in video format on Bb for
self-study at your convenience. Consult your textbook, additional notes and additional videos
ALONG with these theory lectures.

Practical Face-to-Face Classes: Following your engagement with the theory lectures, you
are expected to attend practical classes where the lecturer will assist you in applying the theory
to practical questions.
Group Allocation: You have been divided into either Group A or Group B for practical classes.

Practical face-to-face classes on campus will be held as follows:

• Group A: Tuesdays, 17:10-19:00 in MODLEC A1-A3
• Group B: Thursdays, 15:10-17:00 in MODLEC A1-A3

Tutors: Following the Practical class, more practical examples will be covered during online
tutorial sessions. A tutor will be online to help you with the content. These tutorial sessions
are typically smaller groups of students that provides an added opportunity to ask questions
and get explanations of the content of the week.
• Mondays from 15:10 to 16:00.
• Wednesdays from 14:10 to 15:00.

Use this extra support to boost your studies to ensure success.

5. LIST OF MATERIALS

Prescribed Textbook:

• ECONOMICS for South African students

o Author: Philip Mohr and associates
o Sixth Edition
o Van Schaik Publishers
o ISBN: 978 0 627 03705 4

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 • In addition to the textbook, other study material will be used as part of the teaching and
learning in this module. This material and activities will be made available on
Blackboard throughout the semester. It is each student’s responsibility to ensure that
• he/she obtains and studies all material in time.

6. ASSESSMENT OF LEARNING

Your module mark (predicate) will be calculated as follows:

OA 1
Graphs 25%
Test 1
50% OA 2
25%

Test Synchronised / Time Online Settings for Question Marks Weigh

unsynchro-
nised * or online types t
formal
sit-
down
OA* 1 Unsynchronised 60 min. Online Force completion. MCQ* + 50 25%
2 Mar-6 Mar Access anytime Bb. Randomized Open
over 5 days questions and ended* +
(Only 5 distractors.
True and
attempts will be One question at a
allowed.) time.
False
Highest mark No back tracking.
will count.
OA* 2 Unsynchronised 60 Online Force completion. MCQ + 50 25%
Access anytime Randomized
20 Apr-24 Apr
min. Bb. Open
over 5 days questions and
(Only 5 distractors. ended +
attempts will be One question at a True and
allowed) time. False
Highest mark No back tracking.
will count.
Compulsory Synchronised 60 min. Sit-down Open ended 50 50%
Graphs on questions =
Test Campus drawing
8 May graphs and
diagrams.
Summative Synchronised 120 min. Sit down on MCQ +True 100
assessment campus and False
(Exam)

*OA = Online Assessment; Synchronised = assess all students simultaneously or unsynchronised

= students take the test at different times within a specified period; MCQ = Multiple Choice
Questions; open ended questions = fill in the blank questions.

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 NB!!! Regulations !!!NB Regulations !!!NB Regulations !!!NB

6.1 Assessment Opportunities

6.1.1 Each student will have access to two (2) Online Assessments (OAs) and one (1)
formal, scheduled compulsory Graphs Test during the semester.
• Students are required to complete both OAs and the formal Graphs Test.
• If a student misses any of the OA opportunities, a final formal assessment
opportunity (OAs) will cover the entire module content for the semester.
• If a student misses the compulsory Graphs Test, a valid reason AND support
documentation must be submitted to the lecturer within 24 hours that the graphs
test was administered. Permission to write the Final Graphs Test is subject to the
Head of Department’s approval.
• Students who do not participate in both OAs and the formal Graphs Test will have
their semester marks calculated based on the available assessments. This could
result in forfeiting admission to the final examination.

6.1.2 The final formal assessment opportunities in all EMS modules will follow a
condensed test timetable. This may require students to write more than one test on
the same day. To avoid scheduling challenges, EMS strongly recommends
participating in the first Graphs Test and both OAs as they are made available.

6.1.3 No alternative assessment opportunities are available in EMS.

6.2 Post-Test Memorandum and Queries

After the formal Graphs Test is written, the memorandum will be uploaded to Blackboard.
If you have concerns about how the test was marked, you must submit your query in writing
(via email) to the lecturer within five (5) days of the marks being released. Refer to Section
1 for relevant email addresses.

6.3 Responsibility for Marks

It is the student's responsibility to ensure that all marks are correct. If you have no
queries regarding your mark before the final date as stipulated by the rules of the UFS,
it will be assumed that all marks are correct. No further adjustments will then be made.

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6.4 Scope of Assessments
EMS does not allow the demarcation of any scope for tests and/or examinations.

6.5 Minimum semester mark Requirement

To qualify for the official examination, students must achieve a minimum semester mark
of 40%.

ONLINE ASSESSMENTS (OA) EXPLAINED

As you prepare to take your online tests on Blackboard, it's important to understand
some key settings that may impact your testing experience. These settings are in
place to maintain the integrity of the testing process and to create a fair environment
for all students.

5 Attempts of 60 minutes each open for 5 days: Each attempt provides you with
an opportunity to review and improve your performance. Use these attempts
strategically to understand the questions and refine your answers. NOTE: No
additional attempts will be given. If an attempt was waisted because of
loadshedding, Wi-Fi problems or anything conceivable, it is your problem. Plan
accordingly.

The best mark of the 5 marks for a specific OA will be used to calculate your
semester mark.

Each attempt is time-limited to 60 minutes. The countdown clock will remind you of
the time remaining, so keep an eye on it to pace yourself effectively.

The test will be accessible to you for a period of 5 working days. Refer to the Work
Program at point 8. to see when you have to do the respective OA’s.

Force completion: This setting is designed to ensure that once you begin a test,
you must complete it in one sitting without the ability to exit and return later. Thus,
the test will submit itself if you open another tab like Google to search for an answer.

Once you start, you won't be able to pause or save your progress, so it's crucial to
allocate sufficient time for the entire test duration.

Randomised questions and distractors: This setting introduces variability by

shuffling the order of questions from a big question bank and answer choices for
each student. This means that every time you open a test attempt you will be
presented with a different test. Even if you are sitting next to a classmate or
discussing the test afterward, your questions and answer choices will be different,
discouraging any form of cheating.

To succeed in a test with randomized questions, it's important to thoroughly

understand the material rather than relying on memorisation of specific sequences.

One question at a time: With this setting, you can only view and answer one
question at a time, preventing you from skipping ahead or reviewing previous
questions. Once you submit an answer, you typically cannot go back to review or
change it, so consider your responses carefully. 8|Page
 ONLINE ASSESSMENTS (OA) EXPLAINED CONTINUE
No backtracking: Similar to the "One question at a time" setting, "No backtracking"
means that once you move on to the next question, you cannot revisit or change
your answers to previous questions.

Prioritise understanding and answering each question accurately before moving

on, as there are limited opportunities for correction.

Expect the test to include questions that require more than just recalling facts.
Higher cognitive level questions demand analysis, synthesis, and application of
knowledge.

Be prepared to engage with the material at a deeper level. Understand concepts

thoroughly, as you may need to apply your understanding in various contexts.

Remember, an open-book test doesn't diminish the need for thorough preparation.
It is a different skill set that combines your understanding of the material with the
ability to locate and apply information efficiently.

It will be wise to do a few (or all) practice quizzes before the OAs. It will prepare
you for the assessments that count towards your semester mark.

If you have any questions or concerns about these settings, don't hesitate to reach
out to your lecturer or tutor for clarification. Good luck!

6.6 Calculation of the Final Mark

The final mark of this module is calculated as follows:

Weight of
semester
mark
40%

Weight of
Exam mark
60%

The semester mark carries a weight of 40% and the exam mark a weight of 60% in the
calculation of the final mark. You must obtain a final mark of 50% and a sub-minimum of 40%
in the exam in order to pass.

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 7 POLICIES AND EXPECTATIONS

On the Blackboard Module page refer to the tab called Policies and Expectations to access
the UFS and EMS (Economics and Management Sciences Faculty) Policies and Rules

What do I expect of a student?

I expect you to:

• Check Blackboard and your emails daily.

• Read Assigned Materials!!!! Read all information!!!
o Read any additional materials or chapters assigned each week.
• Watch Lecture Videos
o Watch the weekly lecture videos explaining the theory before each class.
• Review Alternative Videos
o Watch the alternative videos for different perspectives and explanations.
• Complete Practical Questions
o Work on the practical questions provided to understand and apply the
concepts.
• Attend Face-to-Face Sessions
o Participate in the practical face-to-face sessions arranged on campus.
• Join Online Tutorials
o Attend the online tutorial sessions to ask questions and clarify doubts.
• Take Notes
o Take detailed notes from the lecture videos and during face-to-face sessions.
• Participate Actively
o Engage actively in discussions during face-to-face and online sessions.
• Do the Online Assessments without cheats.
o Complete and submit all assignments by their due dates.
• Prepare for Exams
o Review all materials, notes, and questions to prepare for exams.
• Ask for Help
o Reach out to the lecturer or tutors if you need any help or clarification.
• Catch up on your OWN
o If you miss a practical or tutorial – it is your responsibility to catch up.
Everything is available on Blackboard.

By following this to-do list, you will be well-prepared and make the most of your
microeconomics course.

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 8 EVALUATION PROCEDURES

Use every opportunity you can to give me feedback on the module delivery. Continuous
feedback is possible with every tutorial and practical session, when you scan the QR code
given during these sessions.

If DIRAP selects the module for evaluation at the end of the semester, a link will be provided
on and announced on Blackboard.

9 MODULE SCHEDULE

The table below indicates WHAT HAPPENS WHEN. On Bb under Study Units, you will find
everything you have to do per week: Theory lecture (video format or slide show); additional
videos on the relevant content; practical questions to prepare before you attend the practical
class and tutorial questions you should prepare before you attend the online tutorial session.

The planned work program is as follows:

WEEK 1: Orientation + Note

Chapter 1: What is economics all about.
Appendix 1-1 Basic tools of Economic analysis.
10 Feb. Online Tutorial: Group B No If this class clashes with EALN1508 (Tuesday), send an email
to timetableALLD@ufs.ac.za. Other clashes – mail your lecturer.
15:10-16:00 tutorials
this week.
11 Feb. Practical Class: Group A Orientation and Chapter 1: WHAT IS ECONOMICS ALL
MODLEC HALL ABOUT.
17:10-19:00 APPENDIX 1-1 BASIC TOOLS OF ECONOMIC
ANALYSIS (self-study).
12 Feb. Online Tutorial: Group A No If this class clashes with EALN1508 (Tuesday), send an email
to timetableALLD@ufs.ac.za. Other clashes – mail your lecturer.
14:10-15:00 tutorials
this week.
13 Feb. Practical Class: Group B Orientation and Chapter 1: WHAT IS ECONOMICS ALL
MODLEC HALL ABOUT.
15:10-17:00 APPENDIX 1-1 BASIC TOOLS OF ECONOMIC
ANALYSIS (self-study).

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WEEK 2: VIDEO
Chapter 3: PRODUCTION, INCOME AND SPENDING AND THE MIXED ECONOMY
Chapter 4: DEMAND, SUPPLY AND PRICES
17 Feb. Online Tutorial: Group B An Online tutor is available to answer any module related question you may
have. Click on “Online Classroom” to enter any of the classrooms available and
15:10-16:00 engage with the tutor.
18 Feb. Practical Class: Group A Study the lecture video for this week along with all the
MODLEC HALL material available on Blackboard and then answer the
17:10-19:00 questions of Practical 1. A memorandum will be made
available towards the end of the week.
19 Feb. Online Tutorial: Group A Answer the questions given for Tutorial 1 before you attend the tutorial class.
You can join any one of the available sessions.
14:10-15:00
20 Feb. Practical Class: Group B Study the lecture video for this week along with all the
MODLEC HALL material available on Blackboard and then answer the
15:10-17:00 questions of Practical 1. A memorandum will be made
available towards the end of the week. .
WEEK 3: VIDEO
Chapter 5: DEMAND AND SUPPLY IN ACTION
24 Feb. Online Tutorial: Group B Answer the questions given for Tutorial 1 before you attend the tutorial class.
You can join any one of the available sessions.
15:10-16:00
25 Feb. Practical Class: Group A Study the lecture video for this week along with all the
MODLEC HALL material available on Blackboard and then answer the
17:10-19:00 questions of Practical 2. A memorandum will be made
available towards the end of the week.

26 Feb. Online Tutorial: Group A Tutorial 2

14:10-15:00
27 Feb. Practical Class: Group B Study the lecture video for this week along with all the
MODLEC HALL material available on Blackboard and then answer the
15:10-17:00 questions of Practical 2. A memorandum will be made
available towards the end of the week.
WEEK 4: ONLINE ASSESSMENT 1 (OA1)
3 Mar. Online Tutorial: Group B Tutorial 2
15:10-16:00
4 Mar. No Practical ONLINE ASSESSMENT 1 on Chapter 1, 3,
5 Mar. No Tutorial
4 AND 5, and APPENDIX 1-1
6 Mar. NO Practical The assessment will be accessible from 2 MRT until 6 MRT @ 24:00.
Refer to “Online Assessments Explained” under 6. Assessment of
Learning in the study guide.

WEEK 5: VIDEO
Chapter 6: ELASTICITY
10 Mar. Online Tutorial: Group B No Tutorial
15:10-16:00
11 Mar. Practical Class: Group A Practical 3 Attend the practical class on campus.
MODLEC HALL
17:10-19:00

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12 Mar. Online Tutorial: Group A Tutorial 3
14:10-15:00
13 Mar. Practical Class: Group B Practical 3 Attend the practical class on campus.
MODLEC HALL
15:10-17:00
WEEK 6: VIDEO
Chapter 7: THE THEORY OF DEMAND: THE UTILITY APPROACH
17 Mar. Online Tutorial: Group B Tutorial 3
15:10-16:00
18 Mar. Practical Class: Group A Practical 4
MODLEC HALL
17:10-19:00
19 Mar. Online Tutorial: Group A Tutorial 4
14:10-15:00
20 Mar. Practical Class: Group B Practical 4
MODLEC HALL
15:10-17:00
WEEK 7: VIDEO
Chapter 8: THE THEORY OF DEMAND: THE INDIFFERENCE APPROACH
24 Mar. Online Tutorial: Group B Tutorial 4
15:10-16:00
25 Mar. Practical Class: Group A Practical 5
MODLEC HALL
17:10-19:00
26 Mar. Online Tutorial: Group A Tutorial 5
14:10-15:00
27 Mar. Practical Class: Group B Practical 5
MODLEC HALL
15:10-17:00

UFS Break 31 Mar. – 4 Apr.

WEEK 8: VIDEO
Chapter 9: BACKGROUND TO SUPPLY: PRODUCTION AND COST
7 Apr. Online Tutorial: Group B Tutorial 5
15:10-16:00
8 Apr. Practical Class: Group A Practical 6
MODLEC HALL
17:10-19:00
9 Apr. Online Tutorial: Group A Tutorial 6
14:10-15:00
10 Apr. Practical Class: Group B Practical 6
MODLEC HALL
15:10-17:00

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WEEK 9: VIDEO
Chapter 10: MARKET STRUCTURE 1: OVERVIEW AND PERFECT COMPETITION
14 Apr. Online Tutorial: Group B Tutorial 6
15:10-16:00
15 Apr. Practical Class: Group A Practical 7
MODLEC HALL
17:10-19:00
16 Apr. Online Tutorial: Group A Tutorial 7
15:10-16:00
17 Apr. Practical Class: Group B Practical 7
MODLEC HALL
15:10-17:00
WEEK 10: ONLINE ASSESSMENT 2 (OA2)
21 Apr. Online Tutorial: Group B Tutorial 7
15:10-16:00
22 Apr. No Practical ONLINE ASSESSMENT (OA) 2 on Chapters
23 Apr. No Tutorial
6, 7, 8, 9 and 10.
24 Apr. NO Practical The assessment will be accessible from 20 Apr. until 24 Apr. @ 24:00.
Refer to “Online Assessments Explained” under 6. Assessment of
Learning in the study guide.

WEEK 11: No class this week due to public holidays.

28 Apr. Public holiday: Freedom Day observed
29 Apr. UFS Holiday
30 Apr. No tutorial
1 May Public holiday: Workers’ Day
WEEK 12: VIDEO
5 May Online Tutorial: Group B Question and Answer session to prepare for the formal
15:10-16:00 compulsory Graphs Test.
6 May Practical Class: Group A No session
MODLEC HALL
17:10-19:00
7 May Online Tutorial: Group A Question and Answer session to prepare for the formal
14:10-15:00 compulsory Graphs Test.
8 May GRAPHS TEST Content: All graphs and calculations covered (CH1-10).
15:10-16:10 Venues: MODLEC, EXR 1-7 (Refer to the Bb
announcement for confirmation of venues.)
WEEK 13: VIDEO
Chapter 11: MARKET STRUCTURE 2: MONOPOLY AND IMPERFECT COMPETITION.
12 May Online Tutorial: Group B No Tutorial
15:10-16:00
13 May Practical Class: Group A Practical 8
MODLEC HALL
17:10-19:00

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14 May Online Tutorial: Group A Tutorial 8
14:10-15:00
15 May Practical Class: Group B Practical 8
MODLEC HALL
15:10-17:00
WEEK 14: Final Preparation for the Exam.
19 May Online Tutorial: Group B Tutorial 8
15:10-16:00 NB for the EXAM.
Ask any question you may still have before the Exam.
20 May Practical Class: Group A Exam Preparation: How to answer on the OMR sheet.
MODLEC HALL Revision and questions discussion.
17:10-19:00 Tutors will go through passed Exam papers.

21 May Online Tutorial: Group A NB for the EXAM.

Ask any question you may still have before the Exam.
14:10-15:00
22 May Practical Class: Group B Exam Preparation: How to answer on the OMR sheet.
MODLEC HALL Revision and questions discussion.
15:10-17:00 Tutors will go through passed Exam papers.

22 May Final formal Graphs Test on 22 May at Final Online Assessment on all chapters and
15:10; Venue: EXR 6. All graphs in content covered. (You are only allowed to write
module content (Chapter 1-11). this test if you missed OA1 or OA2 and were
You are only allowed to write this test granted permission to take part in this
if you missed the compulsory formal opportunity.)
Graphs Test and were granted
The assessment will be accessible from 18 May until
permission to take part in this 22 MAY @ 24:00.
opportunity.
WEEK 15: Final Preparation for the Exam.
26 May Online Tutorial: Group B Only a Question-and-Answer session with tutor. No formal
15:10-16:00 tutorial.
27 May Practical Class: Group A Bootcamp-type practical where tutors will present
MODLEC HALL previous exam questions and discuss the answers.
17:10-19:00
28 May Online Tutorial: Group A Only a Question-and-Answer session with tutor. No formal
14:10-15:00 tutorial.
29 May Practical Class: Group B Bootcamp-type practical where tutors will present previous
MODLEC HALL exam questions and discuss the answers.
15:10-17:00
PREDICATE DAY: 30 May 2025
EXAM STARTS: 2 June 2025. Refer to the official timetables for dates, times
and venues.
SUPPLEMENTARY EXAM STARTS: 14 July. Only emsexams@ufs.ac.za can
grant permission to the supplementary exams.
LAST NOTE: PREPARATION PREVENTS PANIC!

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