Bachelor of Commerce Honours in Economics

Purpose

The purpose of this qualification is to develop the applied competence of the student on an advanced level in the analysis, interpretation and application of economic principles and methods. This programme will prepare students to reflect on their own economical applications to assess the effect thereof in the holistic context of Economics as a social science. Lastly, it will prepare them for further study in Economics as a science.

Rationale

There is a need to develop individuals to analyse the costs and benefits of distributing and consumption of goods and services. Economists conduct research, collect and analyse data, monitor economic trends, and develop forecasts. The advancement of knowledge has been one of the primary sources of overall economic growth over long spans of time; however, the costs of producing knowledge tend to be too high relative to risk-adjusted returns. Recent studies of longer-run sources of economic growth also emphasise that the rate of return to research investments likely increases with the cumulative stock of knowledge. The qualification focuses on equipping students with knowledge on conducting economics research with positive impact for the society.

Recognition of Prior Learning (RPL)

The Recognition of Prior Learning (RPL) is an integral part of education and academic practice. It is acknowledged that all learning has value and the Faculty of Humanities will endeavour to assess prior learning and award credit where relevant.

RPL is managed according to the University of Johannesburg's (UJ) RPL policy, which will be applied as follows for purposes of this programme as set out in the Faculty of Humanities policy:

• Through RPL a student may gain access, or advanced placement, or recognition of status, on condition that he/she continues his/her studies at the UJ.
• Recognition takes place in terms of requirements and procedures applied by the Faculty of Humanities.
• RPL in the case of a student not complying with the formal entry requirements.
• Is conducted after payment of the prescribed fees in accordance with the policy and guidelines of the University.
• Is based on other forms of formal, informal and non-formal learning and experience.
• Is considered only where prior learning corresponds to the required National Qualifications Framework (NQF)-level.
• Takes place where prior learning in terms of applied competencies is relevant to the content and outcomes of the programme.
• Is considered in terms of an assessment procedure that includes a motivated recommendation by an assessment panel to the Dean's Committee of the Council for the Built Environment (CBE).
• Is finally decided upon by the CBE Dean's Committee.

Entry Requirements

The minimum requirement is

• A Bachelor's Degree or an Advanced Diploma in Economics, Level 7.

This qualification comprises of compulsory and elective modules at National Qualifications Framework (NQF) Level 8 totaling 120 Credits.

Compulsory Modules, 76 Credits

• Research project: Economics, 30 Credits.
• Applied Econometrics, 11 Credits.
• Mathematical Economics, 11 Credits.
• Microeconomics, 12 Credits.
• Macroeconomics, 12 Credits.

Elective Modules, 44 Credits (Choose 4 modules)

• Financial Economics, 11 Credits, Elective.
• Monetary Theory, 11 Credits, Elective.
• Financial Economics, 11 Credits, Elective.
• Economic Issues in Developing Countries, 11 Credits, Elective.
• Environmental Economics, 11 Credits, Elective.
• International Trade: Theory and Policy Issues, 11 Credits, Elective.
• Monetary Policy, 11 Credits, Elective.
• National and Local Government Finance, 11 Credits, Elective.

1. Demonstrate specialised knowledge in Economics.
2. Make decisions on ethical values and practices within the Economics specialisation.
3. Communicate effectively regarding Economics and topics supporting it.
4. Demonstrate competence in analytical thinking through the synthesis of information from relevant sources and apply them to real problems.

Associated Assessment Criteria for Exit Level Outcome 1

• Reflect on the correct use of the terminology, concepts, principles and theories in written and/or oral communication.
• Critically appraise the relationship among concepts and principles of Economic disciplines.
• Effectively apply Economics knowledge to propose solutions to well-structured and practical problems (both concrete and abstract).
• Communicate clearly using scholarly discourse and Economics discipline-specific conventions.

Associated Assessment Criteria for Exit Level Outcome 2

• Acknowledge the ethical implications of various kinds of research and act accordingly.
• Identify and reflect on ethical issues occurring in Economics.
• Practice Economics using sound ethics and values.

Associated Assessment Criteria for Exit Level Outcome 3

• Express own opinions clearly and coherently, justify a position and present it logically and systematically using properly substantiated arguments.
• Communicate appropriately showing a thorough grounding in theory and awareness of current global economic environment and political economy.

Associated Assessment Criteria for Exit Level Outcome 4

• Structure report by showing understanding of the core issues of the local and global economic environment.
• Debate subject matter by developing logically coherent arguments as well as citing and discussing illustrative examples based on theoretical underpinnings.
• Present reports according to appropriate and/or recommended word processing and referencing protocol.
• Evaluate modern theories in relation to classical and neo-classical theories.
• Formulate a position on macroeconomic policies and holding to it in discussions.
• Derive a conclusion that fills the gaps in the explanation of current economic issues.

Integrated Assessment

Assessment across the qualification forms an integral part of the teaching and learning process for this programme. In achieving the learning outcomes, students are required to comply with the minimum assessments set for the level of the qualification, as per the Institution's Assessment Policy. Assessments vary depending on the module and the outcomes of the module, however all modules are formatively and summatively assessed. The assessment of theoretical modules is usually in the form of assignments, practical's and written tests or examinations. The weighting of the different assessments toward the calculation of the final mark is clearly indicated to students in the learning guide for each module.

Integrated Assessments/case studies also take place through a variety of assignments, for example, those completed in industry or those that assess aggregated knowledge acquired (such as in a capstone module).

Formative and Summative Assessment.

Formative Assessment opportunities are not formally recorded and take the form of class tests, question and answer sessions and monitoring of practical work.

Summative Assessment leads to the final judgmental mark in accordance to the institution's Assessment Policy. The assessments for theoretical modules will be in the form of assignments and written tests or practical examinations.