22005984 Combination of assessments

Names of Submission links

assessment date
My first class 05/07/2020
impression
Corona virus 05/07/2020
impact on me
Corona virus on 05/07/2020 https://www.news24.com/fin24/markets/currencies/rand-
South Africa’s takes-further-beating-after-rate-cut-falls-2-20200415
economy
Money and 20/07/2020 https://www.bankrate.com/banking/how-to-bank-
banking : press smarter/
reader
The ban of 05/07/2020 Press reader access
alcohol in S.A
due to pandemic
: press reader
 22005984 My first economic class impression

Sir

My first economic class was great and very enthusiastic. The teacher and students all
respectively introduced themselves revealing were they are from, their talents, age and
their future dreams also explaining what they plan to do in order to achieve their
dreams. We then wrote an economics entrance test based on what economics is all
about, which included what is the opportunity cost and describing the production
possibility curve (PPC). That test encouraged me to study more and double the energy
and hard work I had in high school, it made me realize I had forgot so much and needed
to pull up my socks as a University student. As time goes on we met up with our tutors, I
must say it was very challenging to keep up with the lecturer but our tutors enlightened
everything and gave us some tips on how we should write our test and what was
expected from us when the lecturer said “genius is 1% inspiration and 99%
perspiration”. The tutors together with the writing center helped me in understanding the
University student life and how I should endeavor to accomplish my burning desire to
finish my four year degree in time.
22005984 How did corona virus pandemic affect my life

Due to covid-19 spreading throughout the world, on the 23 March 2020 president
Ramaphosa announced the lockdown which was from 26 March 2020 to 16 April 2020.
This negatively affected me as a student because the University ordered that the
classes are suspended and students should immediately live the University premises.
My family had to get a small loan for the transport from KZN To Eastern Cape, now we
are in debt because of the lockdown. Few days later my sister was suspended as the
company had to close to decrease the spread of coronavirus. This meant that no work
no pay for 21 days. The government also stated that we do more groceries before the
lockdown, when he only gave us 2 days but we had no money so during the lockdown
we had very little food at home. The strangle continued as I had to study online from
home with no data and poor network. The most difficult thing is doing proper research
and the submitting my assignments. I hardly access moodle and emails so this is
causing poor work which will result to lower marks. Tutors and students agreed on
doing online classes through what app but most students from rural areas are not able
to participate due to the shortage of data and network, some are not used to
technology. Covid-19 affected my daily activities, education, finance and holiday plans
because when I return to school I will have more work to finish in less time. I have to
budget more money for transport, groceries and other necessities. On the 02 June
2020 the Universities loaded the study data bundles as promised but due to poor
network and some students causing chaos by not switching off their mikes during study
lessons makes online learning hard. I’m using a phone and Laptop and the SRC has
been very supportive and updating us on some important issues. I wish we can be
allowed to return to campus as there is a writing center which assists us on how we
should write our assignment because now I’m really struggling.
22005984 Ms N Ngaleka

THE IMPACT OF COVID-19 IN S.A’s ECONOMY

According to news24 (2020:1) South Africa reported 1 353 cases of coronavirus, the
number of deaths is 5 and 50 recoveries in Gauteng, Western Cape and KZN still has
the major cases in the country. About S.A 1 411 citizens are expected to return home
safe, minister of health stated. In Gauteng a 79 year old died from coronavirus. The
government has pledged the citizens to stay at home and avoids crowded places. S.A
media stated that 13 people are treated for covid-19, while 50 has completed their 14
day isolation and are ready to go home. Though the country is coping with the virus
outbreak, it has encountered economic recession. The S.A rand has dropped by 2 per
cent to past 18 against US dollar due to coronavirus pandemic this has caused poor
economic growth. “The rand has lost more than a quarter of it’s value this year” Tito
Mboweni stated. The government debt has increased rapidly as a result of costly
bailouts state companies and weak growth. The covid-19 caused many productive
developing companies to close for 21 days with no profits, some may reduce the
number of workers or decrease the salaries and wages in order to cover up costs and
Vat output is due to SARS. The decreased supply of goods and services may result to
inflation and increase the rate of crime. Coronavirus has a huge negative impact o
health facilities as more people need medical attention while resources are very little.
The state has to spend huge amounts rescuing hospitals, government debt continue to
increase.

Referencing link

Van der Merwe

http://www.news24.com/fin24/markets/currencies/rand-takes-further-beating-after-rate-
cut-falls-2-20200415
MONEY AND BANKING BY 22005984

According to Goldberg (2013:19) there are many ways of banking your money safe.
Firstly one needs to do a proper research on the bank he/she chooses to use. Some of
these things include checking if the bank is registered and how good are the interest
rates and for how long will these rates last. Comparing the Annual Percentage Yield
(how much you will earn in a year depending on percentage of the investment) and the
interest rates between the banks before choosing the bank helps you to choose the best
bank. It is advisable to choose a bank that offers a high APY, but take into
consideration how long this will last and if this will not affect your money in future, for
example high APYs often result in higher bank charges in the future. The most vital way
of making more money is through budgeting, it helps you to analyze your monthly
expenses in order to see how much you can save. Interact with you bank either online
or visiting the branch regularly to check the increase and decrease of maintenance
fees, bank fees, withdrawal fees and compare with other banks because your bank
maybe charging more, do not hesitate to change the bank if other bank offers better
banking.

Referencing list

Goldberg Mathew.2013.Available:https://www.bankrate.com/banking/how-to-bank-
smarter/
22005984 story I read from the press reader

The closing of bars and restaurants in the US and S.A

According to the Citizen’s Voice (2020:5) due to corona virus cases increasing rapidly
the authorities of the US and S.A ordered that the bars and restaurants should be
closed. This was done to lower the Covid19 cases and ensuring that social distancing
and corona virus precautions are kept. Most club owners felt that they were chosen
particularly as some of the restaurants were allowed to operate but with rules. This
meant that these businesses were not making any profits for 3 weeks and could not
afford to pay tax hence affecting the economy negatively resulting in an economic
downswing.
22005984 story I read from the press reader

How S.A economy was affected by the closing of alcohol, cigarette and restaurant
closing

According to Merten ( 2020) over 1.7bilion of sin tax revenue has been lost since the
lockdown started in S.A. Alcohol and cigarettes sales are one of the most taxed
businesses, which mean that they contribute a lot of money in boosting the economy.
When the sin tax decreases this means GDP will decrease and inflation will increase to
cover up the monies lost during the ban of alcohol. This negatively impact the South
Africa’s economy as it is now heading in recession which means that it will take some
time to recover.