Ecs2602 TL101 3 2025
Ecs2602 TL101 3 2025
Macroeconomics
ECS2602
Semesters 1 and 2
Department of Economics
                                                                  BARCODE
                                                                     CONTENTS
                                                                                                                                                          Page
1            INTRODUCTION .......................................................................................................................... 4
2            PURPOSE AND OUTCOMES ...................................................................................................... 5
     2.1     Purpose ........................................................................................................................................ 5
     2.2     Outcomes ..................................................................................................................................... 5
3            CURRICULUM TRANSFORMATION........................................................................................... 5
4            LECTURER(S) AND CONTACT DETAILS .................................................................................. 6
     4.1     Lecturer(s) .................................................................................................................................... 6
     4.2     Department .................................................................................................................................. 6
     4.3     University ..................................................................................................................................... 6
5            RESOURCES............................................................................................................................... 7
     5.1     Prescribed book(s) ....................................................................................................................... 7
     5.2     Recommended book(s) ................................................................................................................ 7
     5.3     Electronic reserves (e-reserves) ............................................................................................... 7
     5.4     Library services and resources ................................................................................................. 7
6            STUDENT SUPPORT SERVICES ............................................................................................... 8
     6.1     The Unisa First-Year Experience Programme .............................................................................. 9
     6.2     Using Recognition of Prior Learning (RPL) to apply for module credit within a qualification. ....... 10
7            STUDY PLAN ............................................................................................................................ 10
8            PRACTICAL WORK .................................................................................................................. 11
9            ASSESSMENT........................................................................................................................... 11
     9.1     Assessment criteria .................................................................................................................... 11
     9.2     Assessment plan ........................................................................................................................ 13
     9.3     Assessment/assignment due dates ............................................................................................ 13
     9.4     Submission of assessments/assignments .................................................................................. 14
     9.4.1   Types of assignments and descriptions ...................................................................................... 15
     9.5     The assessments/assignments .................................................................................................. 15
     9.6     Other assessment methods ........................................................................................................ 16
     9.7     The examination ......................................................................................................................... 16
     9.7.1   Invigilation/proctoring.................................................................................................................. 16
10           ACADEMIC DISHONESTY ........................................................................................................ 17
     10.1    Plagiarism .................................................................................................................................. 17
     10.2    Cheating ..................................................................................................................................... 17
     10.3    For more information about plagiarism, follow the link below: ..................................................... 17
11           STUDENTS LIVING WITH DISABILITIES ................................................................................. 17
12           FREQUENTLY ASKED QUESTIONS ........................................................................................ 17
     2
                                                                                                                    ECS2602/101/3/2025
                                                                                                                                                     3
1   INTRODUCTION
Dear Student
Unisa is a comprehensive open distance e-learning (CODeL) higher education institution. Our
comprehensive curricula encapsulate a range of offerings, from strictly vocational to strictly
academic certificates, diplomas and degrees. Unisa's "openness" and its distance eLearning
character result in many students who may not previously have had an opportunity to enrol in
higher education registering at the University. Our CODeL character implies that our programmes
are carefully planned and structured to ensure success for students, ranging from the under-
prepared but with potential to those who are sufficiently prepared.
Teaching and learning in a CODeL context involves multiple modes of delivery, ranging from
blended to fully online learning. As a default position, all post-graduate programmes are offered
fully online with no printed study materials, while undergraduate programmes are offered using a
blended mode of delivery where printed study materials are augmented with online teaching and
learning via the learner management system, myUnisa. In some instances, undergraduate
programmes are offered fully online as well.
Furthermore, our programmes are aligned with the vision, mission and values of the University.
Unisa's commitment to serving humanity and shaping futures – combined with a clear
appreciation of our location on the African continent – means that Unisa's graduates have
distinctive graduate qualities, which include:
•       being independent, resilient, responsible and caring citizens able to fulfil and serve in
        multiple roles in their immediate and future local, national and global communities
•       having a critical understanding of their location on the African continent and taking
        account of its histories, challenges and potential in relation to globally diverse contexts
•       the ability to critically analyse and evaluate the credibility and usefulness of information
        and data from multiple sources in a globalised world with ever-increasing information and
        data flows and competing worldviews
• an awareness of their own learning and developmental needs and future potential
    Whether a module is offered either as blended (meaning that we use a combination of printed
    and online study material to engage with you; in other words, you will still receive a printed
    ECS2602 Study Guide) or online (all information is available via the internet), we use myUnisa
    as our virtual campus. This online system is used to administer, document and deliver
    educational material to you and support engagement with you. Look out for information from
    your lecturer and other Unisa platforms to determine how to access the virtual myUnisa module
    site. Information on the tools that will be available to engage with the lecturer and fellow
    students to support your learning will also be communicated via various platforms.
4
                                                                               ECS2602/101/3/2025
Because the mode of delivery for Tuition purposes is fully online, you must use myUnisa to study
and complete this module's learning activities and assignments/assessments. Visit and log into
the ECS2602 module site on myUnisa frequently.
The website for your module is ECS2602-25-S1 for the first semester and ECS2602-25-S2 for
the second semester.
You are encouraged to log into the module site on myUnisa regularly (at least twice weekly).
•     Specific outcome 1: Conceptualise and illustrate the determination of the level of output and
      income for a closed economy
•     Specific outcome 2: Analyse and illustrate the impact of policy measures in macroeconomic
      models for a closed economy
•     Specific outcome 3: Conceptualise and illustrate the determination of the level of output and
      income for an open economy
•     Specific outcome 4: Analyse and illustrate the impact of policy measures on open macro-
      economic models
You can find more specific module outcomes at the beginning of each learning unit in the study
guide.
3     CURRICULUM TRANSFORMATION
Unisa has implemented a transformation charter that places curriculum transformation high on the
teaching and learning agenda. Curriculum transformation includes student-centred scholarship, the
pedagogical renewal of teaching and assessment practices, the scholarship of teaching and
learning, and the infusion of African epistemologies and philosophies. All of these are being phased
in at both programme and module levels. As a result of this, you will notice a marked change in the
teaching and learning strategy implemented by Unisa, together with the way in which the content is
conceptualised in your modules. We encourage you to embrace these changes during your studies
at Unisa, responsively and within the framework of transformation.
                                                                                                   5
4         LECTURER(S) AND CONTACT DETAILS
4.1        Lecturer(s)
Your lecturers will communicate with you on myUnisa on the main ECS2602 website. All queries
about the contents of the study material should be directed to your e-tutor, who will be assigned to
you early in the semester. You will communicate with your e-tutor via the different discussion forums
on the ECS2602 module site. Complaints about e-tutors should be directed to the lecturers.
The contact details of the other lecturers responsible for this module are available on the module
website. As your lecturers, we are responsible for compiling the study material, setting up the
assessments and evaluating your performance in these tests.
Semester 1: ECS2602-25-S1
Semester 2: ECS2602-25-S2
4.2 Department
4.3 University
If you need to contact the University about matters not related to the content of this module, please
see the following link for all the relevant addresses.
Contact addresses of the various administrative departments appear on the Unisa website:
http://www.unisa.ac.za/sites/corporate/default/Contact-us/Student-enquiries.
Below are some important e-mail addresses for the departments you might need to contact.
6
                                                                                 ECS2602/101/3/2025
Assignments assign@unisa.ac.za
Examinations exams@unisa.ac.za
5         RESOURCES
5.1        Prescribed book(s)
Recommended guides:
      To view the Library orientation video – please click here:         Unisa Library and Information
      Services Video_1_1 (2).mp4
This brochure contains important information and guidelines for successful studies through Unisa.
If you need assistance concerning the myModules system, you are welcome to use the following
contact details:
You can access and view short videos on topics such as how to view your calendar, how to access
module content, how to view announcements for modules, how to submit assessments and how to
participate in forum activities by visiting https://dtls-qa.unisa.ac.za/course/view.php?id=32130
    Registered Unisa students receive a free myLife e-mail account. Important information, notices
    and updates are sent exclusively to this account.
    Please claim your e-mail account immediately after registering at Unisa by following this link:
    https://www.unisa.ac.za/static/myunisa/Content/Announcements/Documents/Claim-myUnisa-
8
                                                                                     ECS2602/101/3/2025
 myLife-Nov-2017.pdf Note that it can take up to 24 hours for your account to be activated after
 you have claimed it.
 Your myLife account is the only e-mail account recognised by Unisa for official correspondence
 between you and the University and it will remain your official primary e-mail address on record
 at Unisa.
Many students find the transition from school education to tertiary education stressful and this is
often true for students enrolling at Unisa for the first time. Unisa is a dedicated open distance and e-
learning institution and is very different from face-to-face/contact institutions. It is a mega university
and all its programmes are offered through either blended learning or fully online learning. For these
reasons, we offer first-time students additional/extended support to help them navigate the Unisa
teaching and learning journey seamlessly and with little difficulty and few barriers.
Unisa's First-Year Experience (FYE) Programme has been specially designed to provide you with
prompt and helpful information about the services that the institution offers.
www.unisa.ac.za/FYE fye@unisa.ac.za
                                                                          FYE1500
                             Post-
                                                                       myUnisa; Study
                          Registration       Referrals to             Skills; Academic &
                          Orientation       other support             Digital Literacies;
                                               services                        etc
                                             e.g. Counselling;
                                            Reading & Writing
                                                workshops
          To ensure that you do not miss out on important academic and support communication
          from the SRU, please check your myLife inbox regularly.
                                                                                           9
6.2    Using Recognition of Prior Learning (RPL) to apply for module credit within a
       qualification.
Now that you are a registered student, you are advised to familiarise yourself with the learning
outcomes of the module or modules you have chosen. If you have been exposed to those learning
outcomes for three years or more – either through work experience or other involvement – you can
apply to be exempted from completing assignments and writing examinations. As part of your
application for this exemption, you will be required to compile a portfolio of evidence substantiating
how your experience is equivalent to the learning outcomes. The diagram below shows the steps
involved in obtaining recognition of prior learning (RPL) for module credit. For more information on
the process, RPL fees, and the contact details of your college RPL coordinator, visit the Unisa
website: www.unisa.ac.za/rpl
7     STUDY PLAN
In this module, the emphasis is on developing your understanding of different theories regarding
determining the level of output and income. Therefore, you will be exposed to several concepts,
such as the assumptions underlying the theoretical models, the interaction between the various
macroeconomic variables, the different analytical tools, and the economic policy implications of each
model.
You must thoroughly understand the different building blocks of the various models to gain a
comprehensive picture of how the economy works. Towards the end of the module, this picture will
become more precise and logical.
10
                                                                                    ECS2602/101/3/2025
8         PRACTICAL WORK
    There is no practical work in this module.
9 ASSESSMENT
    9.1    Assessment criteria
    Assessment will be done by the module leader and, where applicable, the module team and/or the
    examiner(s).
    The assessment criteria for each learning outcome are provided below:
                                                                                                        11
                                                the aid of an IS-LM-PC model must be
                                                explained and illustrated
                                            •   The impact of fiscal policy in a goods
                                                market model, an IS-LM model and an
                                                IS-LM-PC model for a closed economy
                                                must be analysed and illustrated
                                            •   The impact of monetary policy in the
                                                financial market and IS-LM model and
                                                an IS-LM-PC model for a closed
     Analyse and illustrate the impact of       economy must be analysed and
 2   policy measures in macroeconomic           illustrated
     models for a closed economy            •   The impact of the combination of fiscal
                                                and monetary policy in the IS-LM-PC
                                                model for a closed economy must be
                                                analysed and illustrated
                                            •   The impact of monetary policy with that
                                                of fiscal policy in the various economic
                                                models must be evaluated and
                                                compared
                                            •   The factors that impact an open
                                                economy must be identified and defined
                                            •   The relationship between the important
                                                determinants, such as the interest parity
     Conceptualise and illustrate the           relation and the net export function,
     determination of the level of output       must be described and illustrated
 3
     and income for an open economy         •   The impact of the foreign sector on the
                                                goods market must be explained and
                                                illustrated
                                            •   The impact of the foreign sector with the
                                                aid of an IS-LM model must be
                                                explained and illustrated
                                            •   The impact of fiscal policy on a goods
                                                market model must be analysed and
                                                illustrated
                                            •   The impact of depreciation and
                                                appreciation on a goods market model
                                                must be analysed and illustrated
                                            •   The impact of fiscal policy on an IS-LM
                                                model for an open economy must be
     Analyse and illustrate the impact of
                                                analysed and illustrated
 4   policy measures on open macro-
                                            •   The impact of monetary policy on an IS-
     economic models
                                                LM model for an open economy must
                                                be analysed and illustrated
                                            •   The use of different policy measures to
                                                achieve certain policy objectives in an
                                                IS-LM model for an open economy must
                                                be demonstrated and evaluated by
                                                selecting appropriate methods of
                                                analysis
12
                                                                                ECS2602/101/3/2025
             The sub-minimum rule: If you do not achieve a minimum mark of 40% in the
             summative assessment (the examination), your semester mark will not be
             considered for calculating the final mark.
      •   Assessment/assignment due dates will be made available to you on the myUnisa landing
          page for this module. We envisage that the due dates will be available to you upon
          registration.
• Please start working on your assessments as soon as you register for the module.
      •   Log on to the myUnisa site for this module to obtain more information on the due dates for
          the submission of the assessments/assignments.
                                                                                                 13
 9.4     Submission of assessments/assignments
     •   The myUnisa virtual campus offers students access to the myModules site, where learning
         material is available online and where assessments should be completed. Together, myUnisa
         and myModules form an online system that is used to administer, document, and deliver
         educational material to students and support engagement between those students and
         Unisa's academics.
     •   The myUnisa platform can be accessed via https://my.unisa.ac.za. Click on the myModules
         2025 button to access the online sites for the modules that you are registered for.
     •   When you access your myModules site for the module/s you are registered for, you will see
         a welcome message posted by your lecturer. Below the welcome message you will see the
         assessment shells for the assessments that you need to complete. Some assessments may
         be multiple choice, some may be tests and others may be written assessments/assignments,
         while some may be forum discussions and so on. All assessments must be completed on the
         assessment shells available on the respective module platforms.
     •   To complete quiz assessments, please log on to the module site where you need to complete
         the assessment. Click on the relevant assessment shell (Assessment 1, Assessment 2, etc.).
         There will be a date recorded there telling you when the assessment will open for you. When
         the assessment is open, access the quiz online and complete it within the time available to
         you. Quiz assessment questions are not included in this tutorial letter (Tutorial Letter 101)
         and are made available online only. You must therefore access and complete the quiz online
         where it has been created.
     •   It is not advisable to use a cellphone to complete quizzes and you should please use a
         desktop computer, tablet or laptop for this task. Students who use cellphones find it difficult
         to navigate the Online Assessment tool on the small screen and often struggle to navigate
         between questions and successfully complete the quizzes. In addition, cellphones are more
         vulnerable to dropped internet connections than other devices. If at all possible, please do
         not use a cellphone for this assessment type.
     •   For written assessments/assignments, please note the due date by which your work must be
         submitted. Ensure that you follow the guidelines given by your lecturer to complete the
         assessment/assignment. Click on the submission button on the relevant assessment shell on
         myModules. You will then be able to upload your written assessment to the myModules site
         for the modules that you are registered for. Before you finalise the upload, double-check that
14
                                                                                 ECS2602/101/3/2025
          you have selected the correct file for uploading. Remember, no marks can be allocated for
          incorrectly submitted assessments/assignments.
          •   Elective assignments
              - If not submitted, the student gets no mark for this item.
              - The best of the required submissions will count.
          •   Mandatory assignments
              - If not submitted, the student gets no mark for this item.
          •   Optional assignments – You are encouraged, as a student, to do optional
              assignments in order to benefit your learning.
  I.      Elective assignments
          a. The student is given a choice of which assignments within an identified group to submit
             and only the best result/s, the number of which is specified in advance, will contribute
             towards the year mark.
          b. Elective assignments must be grouped into an elective group.
          c. For the student to select which assignment to submit, the elective assignments must be
             grouped together. For such an elective group, relevant information (such as how many of
             the assignments must be submitted and how many of the assignment marks should be
             combined into the year mark) will be supplied to you.
          d. The selection criteria define how marks received for assignments in an elective group are
             to be combined into the year mark. Three different criteria may be used for calculating the
             year mark:
                 • The best mark should be used, or
                 • If the student submits fewer than the required number of assignments per group,
                    or no assignment in a group, a mark of 0% will be used.
                 • 0% is awarded to all non-submitted or unmarked assessments. A best mark is
                    then calculated from all the qualifying items submitted.
As indicated in section 9.2, you need to complete three assessments/assignments for this module.
Details of the tasks set will appear on the assessments/assignments themselves.
There are no assignments included in this tutorial letter. Assignments and due dates will be
available on myModules for this module. We envisage that the due dates will be available to you
upon registration.
                                                                                                     15
 9.6   Other assessment methods
Examination information and details on the format of the examination will be made available to you
online via the myUnisa site. Look out for information that will be shared with you by your lecturer and
e-tutors (where relevant), as well as for communication from the University.
9.7.1 Invigilation/proctoring
Since 2020, Unisa has conducted all its assessments online. Given the stringent requirements
imposed by professional bodies, as well as increased solicitation of Unisa's students by third parties
to unlawfully assist them with the completion of assignments and examinations, the University is
obliged to assure the integrity of its assessment integrity by using various proctoring tools: Turnitin,
Moodle Proctoring, the Invigilator App and IRIS. These tools authenticate the student's identity and
flag suspicious behaviour to assure the credibility of their responses during assessments. The
description below is for your benefit as you may encounter any or all of these in your registered
modules:
Turnitin is plagiarism software that facilitates checks for originality in students' submissions against
internal and external sources. Turnitin assists in identifying academic fraud and ghostwriting.
Students are expected to submit typed responses when using the Turnitin software.
The Moodle Proctoring tool is facial recognition software that authenticates students' identities
during their Quiz assessments. This tool requires access to a student's mobile or laptop camera.
Students must ensure that their cameras are activated in their browser settings prior to starting their
assessments.
The Invigilator is a mobile application-based service that verifies the identity of an assessment
participant. The Invigilator app detects student dishonesty-by-proxy and ensures that the
assessment participant is the student registered for the module concerned. This invigilation tool
requires students to download the app from the Google Play Store (Android devices), the Huawei
AppGallery (Huawei devices) or the Apple App Store (Apple devices) on their camera-enabled
mobile devices prior to their assessment.
The IRIS Invigilation software verifies the identity of a student during assessment and provides for
both manual and automated facial verification. It can record and review a student's assessment
session and it flags suspicious behaviour by the student for review by an academic administrator.
The IRIS software requires installation on students' webcam-enabled laptop devices.
Students who are identified and flagged for suspicious or dishonest behaviour arising from the
invigilation and proctoring reports will be referred to the disciplinary office for formal proceedings.
Please note:
Students must refer to the module assessment information on their myModule sites to determine
which proctoring or invigilation tool will be used for their formative and summative assessments.
16
                                                                                   ECS2602/101/3/2025
10 ACADEMIC DISHONESTY
10.1      Plagiarism
Plagiarism is the act of taking the words, ideas and thoughts of others and presenting them as your
own. It is a form of theft. Plagiarism includes the following forms of academic dishonesty:
     •    Copying and pasting from any source without acknowledging that source.
     •    Not including references or deliberately inserting incorrect bibliographic information.
     •    Paraphrasing without acknowledging the source of the information.
10.2      Cheating
Cheating includes, but is not limited to, the following:
     •    Completing assessments on behalf of another student, copying the work of another student
          during an assessment, or allowing another student to copy your work.
     •    Using social media (e.g. WhatsApp, Telegram) or other platforms to disseminate
          assessment information.
     •    Submitting corrupt or irrelevant files. (This matter is addressed in the examination
          guidelines.)
     •    Buying completed answers from so-called "tutors" or internet sites (contract cheating).
 10.3 For more information about plagiarism, follow the link below:
https://www.unisa.ac.za/sites/myunisa/default/Study-@-Unisa/Student-values-and-rules
If you are a student with a disability and would like additional support or extra time for
assignments/assessments, you are invited to contact Mrs Thea Uys at uysmd@unisa.ac.za to
discuss the assistance you need.
                                                                                                     17
     How is my       The weight of the semester mark will be 20%, while the examination's weight
     final mark      is 80%. Your final mark is calculated as follows: Semester mark (out of 100) x
     determined?     20% + Examination mark (out of 100) x 80%. For example:
                     Suppose your semester mark is 47%, and you obtain 60% in the examination.
                     Your final mark will be:
                     = (47 x 20%) + (60 x 80%)
                     = (47 x 0,2) + (60 x 0,8)
                     = 9,4 + 48
                     = 57,4%
                     If your final mark (as calculated by the method above) is 50%, you pass
                     ECS2602.
                     If your final mark (as calculated in the method above) is less than 50% but
                     between 40% and 49%, you do not pass ECS2602 but qualify for a
                     supplementary examination.
                     Unisa grants an undergraduate student writing a module's examination in the
                     first examination opportunity, an automatic additional opportunity to rewrite
                     their examination if their final outcome was an "absent" or "failed". A student
                     registered for an undergraduate module is entitled to use two consecutive
                     opportunities per module to take the examination. Except if College rules
                     provide otherwise, a student may write the examination during either the first
                     or the second examination opportunity. A student who takes an examination
                     for the first time during the second examination opportunity and fails is not
                     entitled to an additional examination opportunity.
                     If your final mark (as calculated in the method above) is less than 40%, you
                     fail ECS2602 and must re-register for the module. When your examination
                     mark is below 40%, your semester mark is not included in the final mark
                     calculations.
     Why should I Assignments are regarded as part of the learning material for this module.
     do           You are actively engaged in learning when doing the assignments, studying
     assignments? the texts, consulting other resources, discussing the work with fellow students
                  or tutors, or doing research. When looking at the assessment criteria given for
                  this module, the four assignments will help you to understand what is required
                  of you more clearly.
18
                                                                              ECS2602/101/3/2025
     How do I        Your lecturers will communicate with you on myUnisa on the ECS2602
     contact my      module page.
     lecturer?
                     All queries about the study material's contents should be directed to your e-
                     tutor, which will be assigned to you early in the semester. You will
                     communicate with your e-tutor in the "Discussion Forums". Complaints about
                     e-tutors should be directed to the lecturers.
                     If you have administrative enquiries, please consult the relevant
                     administrative department. You will find their contact details in the brochure,
                     Study@Unisa, which you received with your study material. We also provide
                     the e-mail addresses and contact details of some administrative departments
                     under Section 4 of this tutorial letter.
There is a FAQs tab on the ECS2602 webpage on myUnisa as well. You may find answers to many
of the issues you may be experiencing problems with. The Study @ Unisa brochure contains an A-
Z guide of the most relevant study information and is available at the following address:
www.unisa.ac.za/brochures/studies
13    SOURCES CONSULTED
No other sources were consulted.
14    IN CLOSING
Distance education is very tough on the student. However, it can be done! It requires a lot of self-
discipline, sacrifice and hard work.
Start early and work consistently throughout the semester. Work actively (with pen and paper) and
do all the activities in the study guide and the assignments/assessments. Start early by answering
the questions as you finish the learning units. Read and keep reading (not only economics but also
other information).
Do not hesitate to contact us if you are experiencing problems with this tutorial letter's content or
any module aspect. We wish you a fascinating and satisfying journey through the learning material
and trust you will complete the module successfully.
Please work hard and enjoy this module. We hope you enjoy this module and wish you all the best!
19