MODULE: ECONOMICS 1A (GNEC115X_DL)
MODULE: BUSINESS LITERACY (BABL115X_DL)
Understand Economic Decisions with Confidence
Build a strong foundation in microeconomics and learn how people, businesses and consumers make economic decisions. This module introduces students to key economic concepts, market systems, demand and supply, and the principles that shape decision-making in a mixed economy.
Duration
Credits
NQF Level
Delivery Mode
Assessments
20 weeks, including all assessments
15
NQF 5
Distance Online
Test, assignment, ICE and examination
Duration
20 weeks, including all assessments
Credits
15
NQF Level
NQF 5
Delivery Mode
Distance Online
Assessments
Test, assignment, ICE and examination
Economics 1A introduces students to key topics in economics, with a focus on microeconomics. Students will learn how markets work and how people, businesses and consumers make economic decisions.
The module explores general economic principles, economic systems, demand and supply, elasticity, government intervention, utility, cost and production, market structures, specialisation and the division of labour. As one of the core modules across the BCom qualification family, Economics 1A provides foundational knowledge that supports all areas of commerce.
IN THE DEGREE
This is one fo the first four modules that must be completed to enable a selection of either the Bachelor of Commerce in Accounting, Bachelor of Commerce in Marketing or the Bachelor of Commerce.
It lays the foundation for understanding economics by through microeconomic principles, helping students understand how individuals and businesses are able to make informed economic decisions that influence business strategy.
By the end of this module, students will be able to:
- Understand the general principles and concepts of economics
- Identify and describe the three main economic systems.
- Apply the principles of demand and supply in a mixed economy.
- Analyse the elasticity of demand and supply curves and explore the effect of government intervention.
- Understand the concepts of marginal and cardinal utility, as well as the link between cost and production.
- Explain the theoretical differences between the four market structures.
- Understand the effect of specialisation and the division of labour
HOW YOU WILL LEARN
Primary Learning Materials
As soon as students register, they can order their prescribed book from WizeBooks, who will deliver it to their door at competitive prices. Everything else they need is available online on myNGI, the virtual learning environment.
Additional Learning Materials
Additional module resources and learning support material will be
available on myNGI, NGI’s virtual learning environment.
Interested?
Apply now for your BCom
qualification to access this
and other modules