ECS4861 LATEST EXAM
PACK 2025
QUESTIONS AND
ANSWERS
FOR ASSISTANCE CONTACT
EMAIL:
, lOMoARcPSD|31863004
UNIVERSITY EXAMINATIONS
Jan/Feb 2023
ECS4861
Advanced Macroeconomics (Honours)
100 Marks
Duration: 3 Hours
First Examiner: Prof D Hodge
Second Examiner: Mr FHB Serfontein
External Examiner: Dr JS Hart
This paper consists of three (3)
pages.
CONFIDENTIAL
Instructions:
(1) Submit your answers as a single document in PDF format. It is preferable for you to type your
answers (Font: Arial 12) and then convert your document to PDF format for submission.
However, if this is not possible, you may also write your answers down and scan them to a PDF
file. Please write legibly.
(2) Start with a cover page stating the module code (ECS4861) and your student number.
(3) This should be followed by your answers to the questions. You must answer three questions
in total (one question from each section).
(4) There is no need for a table of contents, introduction, conclusion or list of references (as was
required in your assignments). Simply answer the questions asked.
(5) Make sure that each question and any sub-questions are clearly numbered.
(6) While you are not required to cite your sources, this does not mean that you can simply copy
information from any source. You need to answer the questions in your own words. Plagiarism
will not be tolerated and may result in disciplinary action if detected.
(7) Please ensure that you submitted a declaration of honesty on myUnisa.
(8) Please ensure that your PDF document is NOT encrypted to a “secured” mode and that itis
NOT password protected as these files cannot be marked. Virus infected files will also not be
marked.
Open Rubric
, lOMoARcPSD|31863004
ECS4861
Date: 4 February 2023
INSTRUCTIONS ON THE DAY OF ASSESSMENT:
Ensure you are connected to the internet in order to log into the Invigilator App and YOUR EXAM QR CODE & EXAM
scan this QR code. ACCESS CODE
If you encounter difficulty in scanning the QR code, you can alternatively enter the
Exam Access Code below the QR code to start the invigilation.
Unless otherwise specified by your institution, note that you can only scan this QR code
once. If your assessment has multiple online sections, tests or attempts, you should
NOT finish the invigilation until your entire assessment has been completed.
Only scan the QR code when the assessment formally commences.
The QR code is only scannable for a limited time and it should therefore be
scanned as soon as possible to start the invigilation.
Exam Access Code: 2479422d
Once the QR code is scanned, ensure your media volume Is turned up and place your
smartphone next to you. The Invigilator App will notify you with a notification beep when
you are required to action a request, which you should then perform.
We recommend that you keep your smartphone on charge for the duration of the assessment.
If you only have one device you may access your assessment in the application by pressing the ‘Access Exam’ button in the top right
corner of your app.
Keep the Invigilator App open on your cell phone for the full duration of the assessment. You are not allowed to minimise or
leave the app.
Ensure you are connected to the internet in order to commence the invigilation as well as at the end of the assessment. No internet
connection is required during the assessment.
You have toadhere to the assessment time limit communicated to you by your institutionas the time displayed in the InvigilatorApp
could differ from the time allocated to complete your assessment.
You can click the "Finish Assessment" button in the app if you finish your assessment early.
If you are performing a written or Scan-and-Upload assessment:
The Invigilator App may request you to take a picture of every page of your answer sheet at the end of the assessment. Unless otherwise
specified by your institution, this does NOT replace the normal upload of your script to your institutions online portal
After completing invigilation and following all app instructions, you must upload your Invigilation App data. If however there is a delay in
the upload of the app data at the end of the assessment, you should prioritise the upload of your script to your university portal and you
can temporarily minimise the app to do so. Uploading of app data is not time sensitive and you can come back and do it after you have
successfully uploaded your script to the exam portal.
Should you encounter any technical difficulty, please WhatsApp The Invigilator Helpdesk on 073 505 8273.
, lOMoARcPSD|31863004
CONFIDENTIAL
Page 3 of 3 ECS4861
Jan/Feb 2023
SECTION 1
Answer ONE of the following two questions:
1.1 Explain Keynes’s theory of investment and why it is central to his more general theory of output, employment,
interest and money. [34]
OR
1.2 Compare and contrast the orthodox monetarist and orthodox Keynesian interpretation of the Phillips curve.
[34]
SECTION 2
Answer ONE of the following two questions:
2.1 Keynes, Friedman and Lucas all regarded expectations as important but differed significantly in the way they
included expectations in macroeconomic theory. Compare and contrast their explanations of the formation and
role played by expectations in macroeconomic theory. [34]
OR
2.2 Compare and contrast the new Keynesian and new classical schools of thought regarding macroeconomic
theory and policy. [34]
SECTION 3
Answer ONE of the following two questions:
3.1 (a) Explain the distinction between the proximate and fundamental causes of economic growth. (6)
(b) List and explain the main fundamental causes of economic growth. (28)
[34]
OR
3.2 Explain what you think are the main constraints on economic growth in South Africa. [34]
TOTAL: 100
©
UNISA 2023
PACK 2025
QUESTIONS AND
ANSWERS
FOR ASSISTANCE CONTACT
EMAIL:
, lOMoARcPSD|31863004
UNIVERSITY EXAMINATIONS
Jan/Feb 2023
ECS4861
Advanced Macroeconomics (Honours)
100 Marks
Duration: 3 Hours
First Examiner: Prof D Hodge
Second Examiner: Mr FHB Serfontein
External Examiner: Dr JS Hart
This paper consists of three (3)
pages.
CONFIDENTIAL
Instructions:
(1) Submit your answers as a single document in PDF format. It is preferable for you to type your
answers (Font: Arial 12) and then convert your document to PDF format for submission.
However, if this is not possible, you may also write your answers down and scan them to a PDF
file. Please write legibly.
(2) Start with a cover page stating the module code (ECS4861) and your student number.
(3) This should be followed by your answers to the questions. You must answer three questions
in total (one question from each section).
(4) There is no need for a table of contents, introduction, conclusion or list of references (as was
required in your assignments). Simply answer the questions asked.
(5) Make sure that each question and any sub-questions are clearly numbered.
(6) While you are not required to cite your sources, this does not mean that you can simply copy
information from any source. You need to answer the questions in your own words. Plagiarism
will not be tolerated and may result in disciplinary action if detected.
(7) Please ensure that you submitted a declaration of honesty on myUnisa.
(8) Please ensure that your PDF document is NOT encrypted to a “secured” mode and that itis
NOT password protected as these files cannot be marked. Virus infected files will also not be
marked.
Open Rubric
, lOMoARcPSD|31863004
ECS4861
Date: 4 February 2023
INSTRUCTIONS ON THE DAY OF ASSESSMENT:
Ensure you are connected to the internet in order to log into the Invigilator App and YOUR EXAM QR CODE & EXAM
scan this QR code. ACCESS CODE
If you encounter difficulty in scanning the QR code, you can alternatively enter the
Exam Access Code below the QR code to start the invigilation.
Unless otherwise specified by your institution, note that you can only scan this QR code
once. If your assessment has multiple online sections, tests or attempts, you should
NOT finish the invigilation until your entire assessment has been completed.
Only scan the QR code when the assessment formally commences.
The QR code is only scannable for a limited time and it should therefore be
scanned as soon as possible to start the invigilation.
Exam Access Code: 2479422d
Once the QR code is scanned, ensure your media volume Is turned up and place your
smartphone next to you. The Invigilator App will notify you with a notification beep when
you are required to action a request, which you should then perform.
We recommend that you keep your smartphone on charge for the duration of the assessment.
If you only have one device you may access your assessment in the application by pressing the ‘Access Exam’ button in the top right
corner of your app.
Keep the Invigilator App open on your cell phone for the full duration of the assessment. You are not allowed to minimise or
leave the app.
Ensure you are connected to the internet in order to commence the invigilation as well as at the end of the assessment. No internet
connection is required during the assessment.
You have toadhere to the assessment time limit communicated to you by your institutionas the time displayed in the InvigilatorApp
could differ from the time allocated to complete your assessment.
You can click the "Finish Assessment" button in the app if you finish your assessment early.
If you are performing a written or Scan-and-Upload assessment:
The Invigilator App may request you to take a picture of every page of your answer sheet at the end of the assessment. Unless otherwise
specified by your institution, this does NOT replace the normal upload of your script to your institutions online portal
After completing invigilation and following all app instructions, you must upload your Invigilation App data. If however there is a delay in
the upload of the app data at the end of the assessment, you should prioritise the upload of your script to your university portal and you
can temporarily minimise the app to do so. Uploading of app data is not time sensitive and you can come back and do it after you have
successfully uploaded your script to the exam portal.
Should you encounter any technical difficulty, please WhatsApp The Invigilator Helpdesk on 073 505 8273.
, lOMoARcPSD|31863004
CONFIDENTIAL
Page 3 of 3 ECS4861
Jan/Feb 2023
SECTION 1
Answer ONE of the following two questions:
1.1 Explain Keynes’s theory of investment and why it is central to his more general theory of output, employment,
interest and money. [34]
OR
1.2 Compare and contrast the orthodox monetarist and orthodox Keynesian interpretation of the Phillips curve.
[34]
SECTION 2
Answer ONE of the following two questions:
2.1 Keynes, Friedman and Lucas all regarded expectations as important but differed significantly in the way they
included expectations in macroeconomic theory. Compare and contrast their explanations of the formation and
role played by expectations in macroeconomic theory. [34]
OR
2.2 Compare and contrast the new Keynesian and new classical schools of thought regarding macroeconomic
theory and policy. [34]
SECTION 3
Answer ONE of the following two questions:
3.1 (a) Explain the distinction between the proximate and fundamental causes of economic growth. (6)
(b) List and explain the main fundamental causes of economic growth. (28)
[34]
OR
3.2 Explain what you think are the main constraints on economic growth in South Africa. [34]
TOTAL: 100
©
UNISA 2023
