Bachelor of Commerce Honours in Agricultural Economics

Purpose

The purpose of the qualification is to empower learners to make a contribution towards the economic growth and development in South Africa, specifically through the agricultural sector. A further purpose is to equip the learner with a high level of theoretical and applied engagement and intellectual independence with regards to relevant aspects of agricultural economics and thereby to consolidate and deepen the learner's expertise in this field of study. Furthermore, the learner will come to understand the important role of research in agriculture, particularly in agricultural economics, and will be trained to perform authentic evaluations and independent research under supervision, aimed at actual and relevant problems in agricultural economics. The qualification aims to foster progressive thinking by developing learners with a wider and deeper understanding of Agricultural Economics.

Rationale

Changes in consumer preferences globally, highly volatile input and output prices, changing climatic conditions, land reform issues, and concerns regarding food and energy security are amongst others, the high risk factors associated with agriculture and agricultural related industries. It is therefore the intent of the institution to extend the existing undergraduate Bachelor of Commerce in Agricultural Economics and Risk Management qualification to include an Honours qualification in Agricultural Economics at the Faculty of Economic and Management Sciences.

In a developing economy such as South Africa, the importance of a viable and efficient agricultural sector cannot be overstated. Although agriculture only contributes between 3 and 4 percent to national Gross Domestic Product (GDP), the sector indirectly contributes between 20% and 30% to the national economy. The indirect contribution of the agricultural sector thus forms an integral part in a healthy growing economy. Furthermore, agriculture is the backbone of the fight against food insecurity and poverty, especially in the rural regions.

Due to the dynamic global agricultural environment there is a specific demand from organised agriculture and agribusinesses for candidates with strong strategic thinking and leadership skills in the agricultural environment. There is also a shortage in management development skills, with specific focus on management and administration of agribusinesses as well as sound financial management skills. The changing agricultural environment and the immediate environment of the institution create a definite need for specialised agricultural economists on a postgraduate level. This need provides the institution with an opportunity to develop a competitive advantage in this field.

Recognition of Prior Learning (RPL)

RPL for this qualification will adhere to and be applied in accordance with the relevant General Academic Rules and RPL policy of the institution as well as the accepted procedures for RPL as stipulated by the Faculty and the School. This entails that a committee appointed with this task, will evaluate the applicant's application and ensure that the policy and rules are adhered to.

If a learner does not meet the admission requirements necessary to be admitted to the qualification, recognition of prior learning, gained either through formal qualifications or programmes from this institution or other institutions, or informally (through experience), may be considered when deciding on granting of credits for modules in this particular qualification. The learner will be thoroughly informed about the process that will be followed. If the learner is able to demonstrate competence in the knowledge, skills, values and attitudes implicit in this qualification, the appropriate credits will be assigned to the learner for the applicable module(s).

At all times the level of skill and competence, reviewed in the context of the Exit Level Outcomes required for this qualification, or the outcomes of modules within it, will be the determining factor. Recognition of prior learning will thus be done on the grounds of applied competences that the applicant has demonstrated with regards to the Exit Level Outcomes to be reached with this Bachelor of Commerce Honours in Agricultural Economics.

Entry Requirements

The minimum entrance requirements are

• Bachelor of Commerce at Level 7 with specialisation in Agricultural Economics.

Or

• Another relevant Bachelor's Degree as deemed appropriate by the Senate, Level 7.

This qualification consists of compulsory and elective modules and Level 8 totalling 144 Credits.

Compulsory Modules at Level 8: 80 Credits

• Econometrics, 16 Credits.
• Microeconomics, 16 Credits.
• Advanced Production Economics, 16 Credits.
• Project and Seminar, 32 Credits.

Elective Modules: 64 Credits (Choose four)

• Research Methods in International Trade, 16 Credits.
• Agricultural Marketing, 16 Credits.
• Agricultural Policy and Development, 16 Credits.
• Economic Modelling, 16 Credits.
• Agricultural Finance, 16 Credits.
• International Monetary Relations, 16 Credits.

1. Demonstrate integrated knowledge and critical understanding of different theories, principles and methods applicable within the field of agricultural economics, and the ability to apply such knowledge and understanding in the context of this particular area of study.
2. Interrogate multiple sources of knowledge, especially published journal articles on studies within the field of agricultural economics, and review and evaluate the methods of research as well as the results and recommendations produced by such research critically.
3. Select, evaluate and apply a range of appropriate procedures, processes and scientific methods of enquiry to identify, analyse and address complex or abstract problems drawing systematically on the body of knowledge and methods appropriate to agricultural economics, thereby contributing to positive change within the practice of this field of study.
4. Identify and address ethical issues based on critical reflection on the suitability of different ethical value systems in order to effect change in conduct and adaptation where necessary.
5. Critically review information gathering, synthesis of data, evaluation and management processes in order to develop creative responses to problems and issues in the agricultural economic environment.
6. Present and communicate innovative ideas and texts effectively to a range of audiences, offering creative insights, rigorous interpretations and solutions to problems and issues in the context of agricultural economics, using different types of media and technologies.
7. Work effectively as an individual and in a group to solve discipline-related problems while taking responsibility for self-regulated learning, decision-making and use of resources when studying agricultural economics processes and systems.

Associated Assessment Criteria for Exit Level Outcome 1

• Explain, discuss and analyse the key questions in the field of agricultural economics, drawing on different theories and methods.
• Present oral and written reports and presentations of results.

Associated Assessment Criteria for Exit Level Outcome 2

• Write integrated research essays that draw on multiple sources.
• Compare the predictions of different theories.
• Contrast the results of different methods.
• Critically evaluate published work.

Associated Assessment Criteria for Exit Level Outcome 3

• Estimate statistical and analytical models and interpret the results.
• Synthesise the results of different methods into a coherent answer to a research question.

Associated Assessment Criteria for Exit Level Outcome 4

• Explain the ethical aspects of a particular research project.
• Identify, argue and respond to any ethical concerns arising from agricultural economic activities.
• Recommend creative responses with regards to the responsible management of agricultural policies, development and strategic aims.

Associated Assessment Criteria for Exit Level Outcome 5

• Gather primary and secondary data and analyse it using econometric models.
• Present a synthesised and organised review of recent and relevant literature, information, standards and other resources available in the agricultural economics field.
• Critically evaluate the knowledge in the context of the research problem.
• Draw conclusions from analytical results and communicate it to policymakers and stakeholders.

Associated Assessment Criteria for Exit Level Outcome 6

• Act, lead, work and communicate in a manner that resembles a professional Agricultural Economist.
• Focus on effective interaction with peers and other role-players in the agricultural environment.
• Present research results to specialist and non-specialist audiences using appropriate Information Technology (IT).
• Successfully conduct the proposed project under supervision.
• Write an appropriate report on the project.

Associated Assessment Criteria for Exit Level Outcome 7

• Effectively work as a team by engaging in and leading group work assignments.
• Select or develop an appropriate mix of learning strategies and apply them in a self-critical manner to sustain or enhance independent learning.
• Take full responsibility for his or her work, decision-making and use of resources.

Integrated Assessment

The assessment and moderation procedures are based on the Assessment and Moderation Policy of the institution, which concurs with the National Education Policy for Outcomes-based Education and the Level Descriptors of the National Qualifications Framework. The assessment approach of the institution is one of appropriate, continuous formative and summative assessment activities within an outcomes and programme-based higher education environment.

Opportunities for both formative and summative assessments are embedded in the learning design of this qualification. Examples of methods by which informal and formal formative and summative assessment are done, include class and semester tests, discussions, feedback and critique during contact sessions and performances, written and practical assignments, peer group evaluation and examinations. Most assessments will be based on real or hypothetical case studies simulating real-life agricultural economic practice. Progress in the learning process will be discussed in face-to-face contact with students in order that adjustments can be made in time to make the teaching and learning process more effective. Feedback from informal formative assessment opportunities are utilised by the lecturer for improvement of the teaching.

Summative assessment in each of the modules in the qualification will be conducted by means of a three hour written and/or practical examination and/or report and will ensure that the main outcomes and key purpose of the qualification are realised. The mini-dissertation or report will determine whether the leaner is able to demonstrate critical application of theory, concepts, principles, rules, processes and structures to solve real world problems and issues. The outcome of the mini-dissertation or report will also determine the student's ability to find new information and to integrate this information with existing knowledge.