Die ekonomie minuut

This week, CPI inflation data for April will be released and the Reserve Bank's Monetary Policy Committee will meet to decide on a repo rate increase.

* The Economics Minute is supported by the NWU Business School.

I've talked a lot about the impact of big shocks on the economy. Recently there has been Russia's invasion of Ukraine, the floods in KwaZulu-Natal, and lockdowns in China, but one could not yet see it in the data. This week, March's manufacturing output and mining production data were released and one is now starting to see some of those consequences.

* The Economics Minute is supported by the NWU Business School.

Ek het al baie gepraat oor die impak van groot skokke op die ekonomie. Onlangs was daar Rusland se inval in Oekraine, die vloede in KwaZulu-Natal, en inperkings in Sjina, maar mens kon dit nog nie in die data raaksien nie. Hierdie week is Maart-maand se vervaardigingsuitset en mynbouproduksie-data bekend gemaak en mens begin nou van daardie gevolge sien.

* Die Ekonomie Minuut word ondersteun deur die NWU Sakeskool.

Sjina het ʼn vreemde reaksie op die Coronavirus pandemie. Hulle gebruik streng inperkings in stede en die doel is om geen positiewe Covid gevalle op ʼn gemeenskapsvlak binne ʼn distrik te hê nie. Aan die ander kant is inenting nie verpligtend nie en die inentingskoers is laag. Die gevolg van hierdie inperkings is natuurlik dat ekonomiese aktiwiteite van stad tot stad kan stil staan. China is die wêreld se tweede grootste ekonomie, die grootste uitvoerder en die tweede grootste invoerder. Wanneer die wêreld se fabriek sluit het dit ʼn dubbele impak.

* Die Ekonomie Minuut word ondersteun deur die NWU Sakeskool.

China has an unusual reaction to the Coronavirus pandemic. They are using strict lockdowns in cities and the aim is to have no positive Covid cases at a community level within a district. On the other hand, vaccination is not mandatory and the vaccination rate is low. Of course, the consequence of these restrictions is that economic activity slows from one city lockdown to the next. China is the world's second-largest economy, largest exporter and second-largest importer. When the world's factory closes it has a double impact.

* The Economics Minute is supported by the NWU Business School.

Workers, businesses, and even countries differ in productivity. Economists have traditionally said that productivity depends on education and training that improves labour inputs, or on research and development that improves capital inputs. Within a business, managers' decisions about appointments, promotions, and bonuses also have an impact on productivity. New research shows that managers' ability to get the right person into the right job is also important.

* The Economics Minute is supported by the NWU Business School.

Werkers, besighede, en self lande verskil in produktiwiteit. Ekonome het tradisioneel gesê dat produktiwiteit hang af van onderwys en opleiding wat die arbeidsinset verbeter, of van navorsing en ontwikkeling wat die kapitaal-inset verbeter. Binne ʼn onderneming het bestuurders se besluite oor aanstellings, bevorderings, en bonusse ook ʼn invloed op produktiwiteit. Nuwe navorsing wys dat bestuurders se vermoeë om die regte persoon in die regte werk te kry ook belangrik is.

* Die Ekonomie Minuut word ondersteun deur die NWU Sakeskool.

We all know that food commodity prices are high, but what are the prospects in the agricultural sector? Do farmers laugh all the way to the bank?

* The Economics Minute is supported by the NWU Business School.

Ons almal weet dat voedselkommoditeitspryse is hoog, maar hoe lyk die vooruitsigte in die landbou-sektor? Lag boere al die pad bank toe?

* Die Ekonomie Minuut word ondersteun deur die NWU Sakeskool.

We teach economics students that inflation is a process of sustained rises in the general price level. So when do price shocks such as increases in fuel and food prices become an inflationary process? One has to look for second-round effects – in other words, when the prices of services start to increase, and when salaries and wages start to rise.

* The Economics Minute is supported by the NWU Business School