All Provinces
Prepared by the
Recommended Study Books :
– Economics Core Notes + Core Markets File from Western Cape department
– Mind The Gap study guide
– Noel Mashonga Documents
Final exams are very simple and it’s easy to score high marks. You just need to focus on everything we have prepared for you below. You still have enough time to grasp everything well and some things you already know them ;
It’s imperative that you stick to this preparation as it is.
– Final exam prepares you for tertiary entry
– Paper structure, mark allocation and essays are the same in all provinces.
[ PAPER 1 ]
( SECTION C )
FOCUS AREAS FOR ESSAYS :
[ 26 Marks ]
You can choose to focus on macro topics or pursuits for essay preparation :
( MACRO ECONOMICS: FOCUS ON 4 BULLETS )
For essays focus on four areas indicated with four bullets under economic pursuits :
● CIRCULAR FLOW
( markets in 4 sector diagram )
● BUSINESS CYCLES
( The new economic paradigm, features underpinning forecasting )
● PUBLIC SECTOR
( objectives, reasons for public sector failure )
● FOREIGN EXCHANGE MARKETS
( Demand & Supply reasons for international trade )
OR
( ECONOMIC PURSUITS: FOCUS ON 4 BULLETS )
For essays focus on four areas indicated with three bullets under economic pursuits :
● PROTECTIONISM & FREE TRADE
( export promotion )
( arguments in favour of Protectionism )
*● GROWTH & DEVELOPMENT*
( Demand-side approach to promote growth and development)
( Growth and Development Policies & Strategic Initiatives)
● INDICATORS
( Social Indicators )
( Economic Indicators )
● REGIONAL DEVELOPMENT
( SA initiatives/endeavours)
Note :
– Ensure that you cover all four bullets fully for essay preparation.
– The pointed areas, according to us, are of high importance for essay preparation but that doesn’t signify that the other areas ought to be literally ignored.
– You can choose either Macroeconomics topics or Pursuits for essay preparation. Choose one area you prefer and stick to it for essay preparation.
HOW TO WRITE EACH ESSAY UNDER PAPER 1 :
Under Macroeconomics we have 7 essays and under Pursuits we also have 7 essays and each essay is 40 Marks. You can choose to focus on 7 essays under Macroeconomics or focus on 7 essays under Pursuits. It’s up to you. These essays can be classified as follows :
SEVEN ESSAYS UNDER MACROECONOMICS ( Q5 ) :
CIRCULAR FLOW
1. Discuss the role of markets in the circular flow. (26 marks)
• How can the business sector contribute more positively to the economy? (10 marks)
BUSINESS CYCLES
2. Discuss in detail ‘new economic paradigm is embedded (rooted) in demand-and-supply-side policies to influence the economy. (26 marks )
• Why is it impossible to achieve zero unemployment and low inflation rates in an economy? (10 marks )
3. Discuss in detail the features of underpinning forecasting. (26 marks)
• Explain the effect of demand-side policies on South African economy (10 marks)
PUBLIC SECTOR
4. Discuss in detail the main objectives of the public sector in the economy. (26 marks)
• How can the government reduce public sector failure more efficiently? (10 marks)
5. Discuss in detail the reason(s) for public sector failure ( link them to typical problems experienced through public sector provisioning) (26 marks )
• How can South African municipalities improve efficiency in service delivery? (10marks)
• How can government achieve its main objectives efficiently? (10 marks)
FOREIGN EXCHANGE MARKETS
6. Discuss in detail the supply reasons for international trade. (26 marks)
• How effective is international trade in the world of the economy? (10 marks)
• How can the governments improve the standard of international trade? (10 marks)
• What are the cons of international trade to developing countries? (10 marks)
7. Discuss in detail the demand reasons for international trade. (26 marks)
• Examine the impact of mass production on international trade. ( 10 marks )
• Explain the impact of COVID-19, Floods, Looting , and Ukraine & Russia war on it international trade. (10marks)
SEVEN ESSAYS UNDER ECONOMIC PURSUITS ( Q6 ) :
PROTECTIONISM & FREE TRADE
1. Discuss export promotion as part of South Africa’s international trade policy under the following headings :
− Reasons (
− Methods (10)
− Disadvantages (
• How can a country be disadvantaged through import substitution? (10 marks)
• Explore the cons of export promotion and import substitution. (10 marks)
2. Discuss in detail the arguments in favour of protectionism (26 marks )
• In your opinion, how can the government use subsidies to ensure that local industries are protected against unfair competition from abroad? (10 marks)
ECONOMIC GROWTH AND DEVELOPMENT
3. Discuss in detail the demand-side approach in promoting growth and development in South Africa (26 marks)
• Explain key objectives of black economic empowerment programmes (10 marks)
4. Discuss in detail the following South African growth and development policies and strategic initiatives (26 marks ) :
– Reconstruction and Development Policy (RDP)
– Growth, Employment and Redistribution Programme (GEAR)
– National Skills Development Strategy (NSDS)
– Accelerated and Shared Growth Initiative for South Africa (AsgiSA)
– Joint Initiative on Priority Skills Acquisition (JIPSA)
– Expanded Public Works Programme (EPWP)
– The New Growth Path (NGP)
– National Development Plan (NDP)
– Small Business Development Promotion Programme
– Black Economic Empowerment Programmes
• Evaluate the success of these two policies. (10 marks)
• How can government improve any of the above growth and development policies and initiatives? (10 marks)
REGIONAL DEVELOPMENT
5. Discuss in detail South Africa’s initiatives (endeavours) in regional development (26 marks) :
– Spatial development initiatives (SDI’s)
– Corridors
– Industrial Development Zones (IDZ’s)
– Special Economic Zones (SEZ’s)
• How successful is South Africa’s regional development in terms of their benchmark criteria? (10 Marks)
• Elaborate on the impact of regional development on the economy. (10 marks)
ECONOMIC & SOCIAL INDICATORS
6. Discuss in detail the following economic indicators (26 marks) :
– Inflation rate indicators
• Production prices (PPI)
• Consumer prices (CPI)
– Foreign trade indicators
• Terms of trade
• The exchange rate
– Employment indicators
• Economically active population (EAP)
• Employment rate
• Unemployment rate
– Productivity indicators
• Labour productivity
• Remuneration per worker
– Interest rate indicators
• Repo rate (link to other interest rates such as prime rate)
– Money supply indicators
• M1
• M2
• M3
• How successful is the South African Reserve Bank in stabilising prices on the different markets as its main objective? (10 marks)
7. Discuss in detail the following social indicators (26 marks) :
– Demographic indicators
• Population growth
• Life expectancy
– Nutrition and health indicators
• Nutrition
• Malnutrition
• Obesity Health
• Child mortality
• Under 5 mortality
• Spending on health
• Access to clean water
• Access to sanitation
– Education
• Percentage of public-sector spending
• Percentage enrolment in secondary schools
– Services
• Electricity
• Refuse/Garbage removal
• Water supply
• Sanitation
• How successful has the South African government been in promoting economic development through use of these indicators (10 marks)
Note :
– The pointed areas above, according to us, are of high importance for essay preparation but that doesn’t signify that the other areas ought to be literally ignored.
– You can choose either Macroeconomics topics or Pursuits for essay preparation. Choose one area you prefer and stick to it for essay preparation.
ADDITIONAL PART :
[ 10 MARKS ]
● It could be any question that requires critical thinking and or general knowledge. Give only 5 points to answer the question under the additional part. This part is unpredictable but you have to be prepared to answer it appropriately. The additional parts included in the essays above are suggested but they are feasible.
● Impact of Covid-19, Ukraine & Russia war, and looting on the economy, ways of dealing with their economic effects ( you can google this so that you won’t battle in case it appears )
THE WAY HOW ESSAY 1 – 7 SHOULD BE WRITTEN UNDER MICROECONOMICS (Q5) & ECONOMICS PURSUITS (Q6) PAPER 1 FINAL EXAM 2022 :
Note : To see how to write each of the essays under economic pursuits refer to the previous notes posted both on our page and in our group on our media platform. Also download the uploaded study materials from our group on media in the files section. Use the original app. The instructions on how to write each of the economic pursuits essays pointed above are as follows :
MACROECONOMICS ESSAYS :
To know how to write each of the macroeconomics essays Refer to the Noel Mashonga Documents provided on our Telegram channel.
We are now available even on telegram. Subscribe to our new channel now @EconomicsEmpire407
ECONOMIC PURSUITS ESSAYS :
ESSAY #1
To learn to write the first essay which is based on Export promotion refer to our previous notes posted on media. You will find the essay under the topic of protectionism and free trade.
ESSAY #3
To know how to write the third essay based on demand side approach refer to the Economics Core Notes document by Western Cape subject advisors that we uploaded in the group last year. You will find the essay under the topic of Economic Growth and
Development.
ESSAY #4
To know how to write the fourth essay based on SA development and growth policies and development initiatives refer to the Economics Core Notes document by Western Cape subject advisors that we uploaded in the group last year. You will find the essay under the topic of Economic Growth and Development.
ESSAY #5
To know how to write the fifth essay based on the SA endeavours refer to the Economics Core Notes document by Western Cape subject advisors that we uploaded in the group last year. You will find the essay under the topic of Regional Development.
ESSAY #6
To know how to write the sixth essay based on the Social Indicators refer to the Economics Core Notes document by Western Cape subject advisors that we uploaded in the group last year. You will find the essay under the topic of Regional Development.
( SECTION B )
FOCUS AREAS FOR SHORT QUESTIONS ;
For short questions be familiar with the following sections :
• Multiplier
• Aggregates
• Interaction between economic participants in a circular flow and markets.
• Balance Of Payments
• Export promotion & Import Substitution
• New Economic Paradigm
• Foreign Exchange Markets
• Protectionism & Free Trade
• Arguments in favour of free trade
• Business Cycles ( causes/explanations )
• Responding to articles and analysing cartoons.
• Impact of Covid-19, Ukraine & Russia war , Increase in Repo Rate and looting on the economy, ways of dealing with its economic effects ( you can Google this or use any other helpful sources )
• Unpredictable questions that require critical thinking.
• ( Anything not mentioned under the focus areas for essays )