Macro & Resource Economics
Trends and data are not enough to ensure sound decisions, but it is needed to distil the truly crucial variables and to evaluate the impact of these on the agricultural economy of the Western Cape. As mathematical and/or computerised models are a representation of reality, reality can be “changed” under controlled conditions in order to evaluate the impact of a specific variable. However, models are only a representation and simplification of reality. It follows that various angles on the same problem need to be developed. The purpose of this division is to develop the necessary mathematical frameworks and to evaluate the impact of various local and international environmental and policy measures on the economy of the Province.