Exam (elaborations)
ECS3709 Assignment 4 (COMPLETE ANSWERS) Semester 2 2024 - DUE 27 September 2024
- Course
- ECS3709
- Institution
- University Of South Africa
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ECS3709 Assignment 4(COMPLETE ANSWERS)
Semester 2 2024 - DUE 27
September 2024
100% GUARANTEEED
, ECS3709 Assignment 4 (COMPLETE ANSWERS)
Semester 2 2024 - DUE 27 September 2024
QUESTION 1 [15] Using Jordan, South Africa, and Nigeria
as case studies, select one country of your choice and
apply any two demand-side factors and two supply-side
factors to explain the relationship between
unemployment and economic growth in that country.
Make sure to indicate the references in your discussion
and provide the list of references at the end of your
essay. (15) Mark allocation: each factor earns 3 marks
including explanation leading to twelve (12) marks for the
discussion excluding referencing. Referencing will be
awarded a total of three (3) marks as follows: 2 marks for
intext citation; 1 mark for the correct list of references.
To answer this question, you can select South Africa as the country of focus and apply two
demand-side and two supply-side factors to explain the relationship between unemployment and
economic growth. Here’s a structured approach to guide your essay:
Introduction:
Economic growth and unemployment are closely related in any economy. Understanding how
various demand-side and supply-side factors influence this relationship can provide insights into
the economic dynamics of a country. In this essay, South Africa will be used as a case study to
explore these relationships.
Demand-Side Factors:
1. Aggregate Demand (AD): One key demand-side factor affecting unemployment and
economic growth is aggregate demand. In South Africa, fluctuations in AD, which
includes consumption, investment, government spending, and net exports, directly impact
employment levels. When aggregate demand rises, businesses need to hire more workers
to meet increased demand for goods and services, which leads to economic growth.
Conversely, during periods of low aggregate demand (such as during recessions),
businesses reduce hiring, leading to higher unemployment.
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