What economics is all about; a closer look at the economic problem; the interdependence between the major sectors, markets and flows in the mixed economy; measuring the performance of the economy; the South African economy; the economist's analytical toolkit. Microeconomics. Demand and supply prices; demand and supply in action; elasticity; background to demand - the theory of consumer choice; background to supply - the theory of production and cost; perfect competition; monopoly and imperfect competition; the labour market. From microeconomics to macro-economics - three important sectors in the economy. The monetary sector; the public sector; the foreign sector. Macroeconomics. Income determination in a simple Keynesian macroeconomic model.; Keynesian models including the government and the foreign sector; more on macroeconomic theory and policy; inflation; unemployment and the Phillips curve; economic growth and development.