Three-dimensional numerical simulations are used to study the effect of unsteady swinging and tumbling motion on the rheology of a dilute suspension of oblate-shaped elastic capsules. Unlike a suspension of initially spherical capsules undergoing the steady tank-treading motion for which the rheology is constant in time, the suspension of non-spherical capsules is time-dependent due to the unsteady capsule motion. In a simple shear flow, the non-spherical capsules undergo a transition from the tank-treading/swinging to the tumbling motion with a reduction in the shear rate or an increase in the ratio of the internal to external fluid viscosities. We find that the time-averaged rheology obtained for the non-spherical capsules undergoing the unsteady motion is qualitatively similar to that obtained for the spherical capsules undergoing the steady tank-treading motion, and that the tank-treading-to-tumbling transition has only a marginal effect. The time-averaged rheology exhibits a shear viscosity minimum when the capsules are in a swinging motion at high shear rates but not at low shear rates. This is a remarkable departure from the behaviour of a vesicle suspension which exhibits a shear viscosity minimum at the point of transition. We find that the shear viscosity in a capsule suspension can decrease as well as increase with increasing viscosity ratio during both tank-treading and tumbling motions, while that of a vesicle suspension always decreases in tank-treading motion and increases in tumbling motion. We then seek to connect the time-dependent rheology with the time-dependent membrane tension, capsule orientation, deformation and tank-treading velocity. At low shear rates, the numerical results exhibit a similar trend to that predicted by analytical theory for rigid ellipsoids undergoing tumbling motion. The trend differs during swinging motion due to the periodic deformation and time-dependent variation of the membrane stress. The elastic component of the shear stress is minimum when the capsules are maximally compressed, and is maximum when the capsules are maximally elongated. In contrast, the viscous component is related to the periodic variation of the tank-treading velocity synchronized with the swinging motion, and the rate of capsule elongation or compression. The swinging or tumbling velocity makes no contribution to the time-dependent rheology.