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INTRODUCTION TO ECONOMICS - PBNK02T

NQF level: Credits:
Module presented in
Purpose: Content: The function of the economy and its participants The concept of supply and demand as it relates to markets and economic conditions The effects of changes in demand and/or supply on prices and quantities The conditions under which markets fail and why government intervention is necessary Basic macro-economic goals and instruments, the GDP concept and its limitations The concepts of inflation The interaction between inflation and unemployment The objectives of macroeconomic policy The differences between privatisation, deregulation and competition Research to explain the interaction and differences between different economic systems