Bachelor of Commerce Honours in Economics

Purpose

The primary purpose of the Bachelor of Commerce Honours in Economics qualification is to develop learners' knowledge and applied competence in analysis, application and interpretation of economic theory and applications. The curriculum will provide learners with a deep and specialised understanding of economics, preparing them for a range of career opportunities, further education, and research roles in economics-related fields. The qualification will equip learners with the knowledge and skills needed to excel in these areas.

The curriculum is carefully structured to prioritise the development of research skills while also expanding learners' understanding of fundamental economic concepts and principles. By completing this qualification, learners can achieve a high level of theoretical engagement and cultivate intellectual independence. These elements ensure that graduates are well-prepared to excel in their chosen careers and contribute to the field of economics. Learners will also gain competence (both critically and analytically) in conducting independent research. Learners will learn to identify problems, identify suitable methods, collect and analyse data, as well as draw meaningful conclusions.

The qualification adds further to the qualification mix and offers an avenue for learners who want to do postgraduate work in economics or for those who simply want to signal relatively high academic achievement.

Upon completion of this qualification, qualifying learners will be able to

• Demonstrate an understanding that economics is a contested discipline and the knowledge of differing methods of analysis that have been and are used by economists.
• Demonstrate the ability to interrogate multiple sources of knowledge (academic and non-academic) sources including 'grey' sources and processes of knowledge production.
• Demonstrate an understanding of verbal, graphical, mathematical and econometric representation of economic ideas and analysis, including the relationship between them.
• Demonstrate ability to identify solutions to a diverse range of economic problems.
• Demonstrate a sense of professionalism, ability to identify and address ethical issues (appreciation of the economic and welfare dimensions of wider social, political and environmental issues and integrity in the application of economic tools and applied policy).
• Communicate own ideas and opinions using knowledge and skills of an economist.
• Demonstrate an ability to plan, execute, and work effectively both independently, as part of a team to identify, analyse, and solve assigned economic problems.
• Demonstrate ability to consider and take account of relevant students' own work and responsibilities to secure threshold academic standard required and limited accountability for group work and responsibilities.

Rationale

A dimension of this qualification's rationale speaks to broader policy thrusts and stakeholder needs. Strategically, besides the institutional (University) level, there are at least three levels of commitments relevant to this qualification planning process that needed to be taken into consideration: the supranational level (global, continental, and regional), the national level and the Northern Cape Province level. At the supranational level, the United Nations 2030 Agenda, also known as the Sustainable Development Goals (SDGs), replaced the 2015 Millennium Development Goals. The SDGs are a set of global goals that address urgent global economic, environmental, and political challenges to be achieved simultaneously by 2030. At the continental level, the African Union Commission's (AUC) Agenda 2063 has been facilitating the implementation of the continental development transformation agenda.

Nationally, the National Development Plan (NDP) guides South Africa's 2030 developmental agenda while at the provincial level, the Northern Cape government is preparing to launch the Provincial Growth and Development Plan (PGDP) 2040. Developing human capacity has become a global, regional, national and Northern Cape imperative, as espoused respectively in these strategies. By launching this degree, we will specifically support the strategies by focusing teaching and research efforts on work related to contributing towards the development of a skilled and capable workforce to support inclusive economic growth, employment and other outcomes associated with indicators of global competitiveness. Other outcomes where economic analysis by virtue of its cutting across all aspects of human well-being, clearly has a contribution to make, include those on Green Growth and Sustainable Development, rural and urban development, food security, new information economy and quality of household life.

The qualification will also develop skills in understanding complex arguments, analysing data, and effectively communicating to analyse such complexities. Such skills are valuable in many careers but highly desirable for graduates seeking employment as:

• economists
• researchers
• analysts
• forecasters
• economic programmers
• managers
• entrepreneurs and consultants.

Employers tend to value or require a level of specialisation that is not provided by a three-year bachelor's degree. Graduates from this programme can expect to be employed or complete internships in the Banking and Financial Markets, the Public Sector, Non-Governmental Organisations (NGO) and International Economic Affairs, such as the African Union, International Monetary Fund, World Trade Organization, United Nations, the World Bank and the Regional and other Multilateral Development Banks amongst others.

Recognition of Prior Learning (RPL)

The institution's RPL policy acknowledges the value of prior learning in higher education and its applicability in various situations.

RPL can only be applied where applicable to a specific discipline or programme offered at the institution.

The policy is implemented in three ways, namely

• recognition of learning attained through non-formal means,
• enhancement and broadening of access to higher education,
• acknowledgment of continuous learning.

Learning from other qualifications, the process will be treated under the credit accumulation and transfer policy and are subject to the admission and selection criteria for the specific programme. RPL may be applied as per the university's Policy on Recognition of Prior Learning (RPL). In line with the Higher Education Quality Committee's minimum standards, no more than 10% of a cohort of learners for a programme may be admitted.

Entry Requirements

The minimum entry requirement for this qualification is

• Bachelor of Economics, Level 7.

Or

• Bachelor of Commerce in Economics, Level 7.

Or

• Advanced Diploma in Economics, Level 7 or an equivalent.

This qualification consists of the following compulsory and elective modules at National Qualifications Framework Level 8, totalling 140 Credits.

Compulsory Modules, Level 8, 110 Credits

• Economics Research Paper, 30 Credits.
• Microeconomic Theory and Analysis, 15 Credits.
• Macroeconomics Theory and Analysis, 15 Credits.
• International Economics Theory and Analysis, 15 Credits.
• Theory and Practice of Econometrics, 15 Credits.
• Economics Research Paper, 20 Credits.

Elective Modules, Level 8, 30 Credits (Select two modules)

• Development Economics, 15 Credits.
• Public Economics, 15 Credits.
• Labour Economics, 15 Credits.
• Environmental Economics, 15 Credits.

1. Demonstrate knowledge of and engagement with the different theories, research methodologies, methods and techniques of microeconomics, macroeconomics, development economics and public economics, and be able to choose an appropriate method (verbal, theoretical, graphical, mathematical and/or econometric) to understand and quantify empirical relationships.
2. Demonstrate an understanding that economics is a contested discipline and the knowledge of differing methods of analysis that have been and are used by economists as well as an ability to interrogate multiple sources of knowledge, including 'grey' sources and processes of knowledge production.
3. Demonstrate an understanding of verbal, graphical, mathematical and econometric representation of economic ideas and analysis, including the relationship between them.
4. Demonstrate the ability to identify solutions to a diverse range of economic problems.
5. Demonstrate a sense of professionalism and ability to identify and address ethical issues (appreciation of the economic and welfare dimensions of wider social, political and environmental issues and integrity in the application of economic tools and applied policy).
6. Understand the nature, sources and uses of both quantitative and qualitative data (economic, financial or social data) and use suitable statistical or spreadsheet/database software to store and retrieve that data.
7. Communicate own ideas and opinions using the knowledge and skills of an economist.
8. Demonstrate an ability to plan, execute, and work effectively both independently and as part of a team to identify, analyse, and solve assigned economic problems.
9. Demonstrate the ability to consider and take account of relevant students' own work and responsibilities to secure the threshold academic standard required and limited accountability for group work and responsibilities.

Associated Assessment Criteria for Exit Level Outcome 1

• Address the microeconomic issues of decision and choice, the production and exchange of goods and pricing.
• Apply understanding of the macroeconomic issues of employment, national income, the balance of payments, the distribution of income, public sector policy, economic growth, financial and business cycles, crises, and the role of money creation, banking and the financial system in the economy, society and the environment.
• Apply the knowledge and understanding of the subject matter using quantitative and qualitative tools learnt in econometrics, research methods in economics and applied economywide policy modelling and development thought.
• Apply understanding of economic theory and applications, the understanding of which would be verbal, graphical, mathematical and illustrated using computer-based models.

Associated Assessment Criteria for Exit Level Outcome 2

• Apply knowledge of economic history and its context, pluralistic perspectives and interdisciplinary synthesis to inform an application of critical judgement in evaluating context, proportionality and awareness of limitations.
• Exhibit familiarity with multiple sources of scholarly journals, as well as popular media beyond the prescribed textbooks.
• Critique and evaluate in an intellectually independent manner and sound judgements made using well-reasoned and informed arguments using economic reasoning.
• Illustrate an understanding that economics evolves and advances through the acquisition of new information to address unanswered or contested questions.

Associated Assessment Criteria for Exit Level Outcome 3

• Present and defend research to an expert audience, emphasising independent and critical thinking, analysis, research design and methods.
• Quantify, evaluate and design economic phenomena - data, their sources, and their effective organisation, presentation and analysis.
• Practice through class exercises and economic laboratories to organise data and present it informatively and assess its reliability.
• Master relevant quantitative methods and computing techniques and utilise these with relevant software.

Associated Assessment Criteria for Exit Level Outcome 4

• Apply deductive reasoning and logical analysis to assumption-based models.
• Apply problem-solving skills and higher-order skills of reasoning and analysis gained through teaching and assessment strategies.

Associated Assessment Criteria for Exit Level Outcome 5

• Design appropriate research methods using various research methodologies, the importance of ethical research conduct, and considerations of sampling and fieldwork.
• Present results, exposition of processes and methods used, and conclusions drawn, as well as academic discourse and behaviours for both professional and academic contexts.
• Present and defend research to an expert audience (professional practice) emphasizing independent and critical thinking, analysis, research design and methods, as well as academic discourse.
• Analyse ethical issues emanating from interacting with mathematical and statistical methods, natural resources, and dealing with human subjects.

Associated Assessment Criteria for Exit Level Outcome 6

• Illustrate understanding of the principal sources of economic information and data relevant to industry, commerce, society and government.
• Retrieve economic and financial data from well-known databases in the field such as the South African Reserve Bank, Statistics South Africa, Ministry of Finance's National Treasury, IMF, World Bank, etc, using appropriate software.
• Carry out statistical analysis on both qualitative and quantitative data using relevant software.
• Manage information and its confidentiality on a computer and/or relevant repository such as spreadsheet and/or database programme.

Associated Assessment Criteria for Exit Level Outcome 7

• Illustrate research skills for both professional and academic contexts.
• Develop simplified economics frameworks for studying the real world and constructing economic meaning.
• Appreciate what would be appropriate levels of abstraction to study a range of economic issues and the specific assumptions that guide the criteria for simplification.
• Apply the knowledge and skills acquired to the solution of specific simple theoretical and applied problems in economics.
• Relate differences in economic outcomes (and recommendations) to differences in the theoretical and empirical features of economic analysis that underline such economic outcomes.
• Articulate, communicate and present economic arguments to both specialist and non-specialist audiences (oral, written and visual form).

Associated Assessment Criteria for Exit Level Outcome 8

• Plan a general strategy before starting an assignment and showcase good planning skills overall.
• Conduct regular meetings and communicate with lecturers and supervisors.

Associated Assessment Criteria for Exit Level Outcome 9

• Displays enthusiasm, curiosity, open-mindedness, creativity, critical and actively engaged in and outside class.
• Take personal responsibility for actions, self-reflect and critique own performance and identify and plan future professional development.

INTEGRATED ASSESSMENT

Different types of assessments, which include inter-alia class projects, assignments (individual and groups), presentations, class tests, case studies, and lab projects, will be applied to the qualification as per the ELO of the different modules that will be offered in this programme. Timeous feedback will be given to students in this regard and as required by the policy.

The institution's policy on assessment will be implemented in a continuous and integrated manner, addressing the following aspects:

Formative assessment

It involves recognising and discussing learners' achievements and planning appropriate follow-up steps. This will include:

• assignments
• class tests
• small group activities
• case studies
• presentations related to coursework modules.

Research assessment, which aims to develop mastery of skills, concepts, or analytical techniques, will involve the submission of a research proposal.

Summative assessment

Record and provide feedback on overall learners' performance in a systematic manner. This will be achieved through end-of-year exams for coursework modules. The exams will undergo both internal and external moderation.

For the research paper, formative assessment will involve feedback from supervisors and co-supervisors on the work that has been submitted. Summative assessment will be conducted by external and internal examiners.

Internal and external moderation

It will occur for the final research project submitted by candidates. This process ensures quality control. Before the project is completed and submitted, students will be given the opportunity to present their proposals orally, allowing peers and academics within the school to provide input for improvement. The institution's Policy on Postgraduate assessment criteria, which communicates requirements to ensure and enhance quality, will be shared with students. Examiners will be selected and appointed based on criteria established by the school. They will also receive assessment procedures and criteria aligned with national guidelines for research output/dissertations' quality and standards.