Bachelor of Commerce Honours in Finance

Purpose

The purpose of this qualification is to provide students with specialised knowledge of advanced concepts, theories, models, laws, principles, skills, research methods and applied competence in the field of finance. This will enable them to pursue rewarding careers in the changing economic environment within the national and international context.

Rationale

This qualification aims to provide South Africa with graduates who are not only competent in the field of finance with the capacity to understand and function effectively in the economy, but can also research problems associated with the economy of the country.

Recognition of Prior Learning (RPL)

The North-West University (NWU) subscribes to the principles underlying outcomes based, source-based and lifelong learning. In this context, considerations of articulation and mobility play an important role. The NWU endorses the view that recognition of prior learning (RPL) constitutes an essential element in deciding on admission to and awarding credits in an explicitly selected teaching-learning programme at honours level. RPL does not only imply assessment to determine the level of skills and knowledge comparable to Level 7 the candidate already possesses, but also the skills and knowledge the candidate has to master additionally prior to being accepted for the honours qualification. The assessment processes involved with RPL are the same as those followed for awarding credits in the formal graduate setting. An RPL candidate seeking credits for previously acquired skills and knowledge, must still comply with all the requirements as stated for modules, programmes and qualifications. The difference lies in the route of the assessment, since RPL assessment may be holistic in nature taking the context of the programme as well as the prior knowledge and experience of the person who is being assessed into account.

Entry Requirements

The minimum requirements for admission into Honours Degree studies are

• Bachelor of Commerce Degree is the following study fields, Human Sciences, Mathematics, Statistics and Computer Studies.

This qualification comprises compulsory and elective modules at Level 8.

Elective Modules Level 8

• Research Project, 32 Credits.

Compulsory Modules Level 8

• Fiscal And Monetary Policy, 16 Credits.
• Risk Management, 16 Credits.
• Investment Management, 16 Credits.
• Macro-Economics, 16 Credits.
• Derivatives, 16 Credits.
• Econometrics, 16 Credits.
• International Trade Relations, 16 Credits.

1. Demonstrate specialised knowledge of the central areas of finance at the forefront of development, including an understanding of and an ability to apply, evaluate and comment on the key terms, concepts, facts, principles, rules and theories of Finance.
2. Demonstrate insight into the different perspectives on and world views of the economic problem in order to develop a personal philosophical framework for functioning in the economy.
3. Demonstrate an understanding of a range of methods of enquiry in the field economic analysis, and their suitability to varying investigations; and an ability to select and apply a range of methods to resolve complex problems or introduce change within practice.
4. Apply appropriate processes to access, process and manage information within the field of finance; and an ability to independently validate the sources of economic information and evaluate, analyse and elaborate the information.
5. Demonstrate the ability to formulate, present and communicate insightful and creative academic and professional ideas and arguments effectively - verbally and in writing, using appropriate media and communication technology and suitable finance methods.
6. Demonstrate the ability to investigate, critically analyze, understand and solve complex real-life and/or hypothetical problems in a coherent and creative manner, demonstrating advanced use of critical thinking in finance in a self directed manner.
7. Demonstrate personal responsibility for his or her work, decision-making and use of resources, and moderate accountability for the decisions and actions of others in the varied and dynamic world of business.

The following Associated Assessment Criteria will be assessed in an integrated manner across the Exit Level Outcomes

• Demonstrate a systematic and integrated knowledge and understanding of, and an ability to analyse, evaluate and apply the fundamental terms, concepts, facts, principles, rules and theories.
• Apply appropriate discipline-related methods of scientific inquiry and independently validate, evaluate and manage sources of information.
• Demonstrate critical reflection on, and understanding and application of, appropriate methods or practices to resolve complex discipline-related problems and thereby introduce change within related practice.
• Demonstrate professional and ethical behaviour within an academic and discipline-related environment with sensitivity towards societal and cultural considerations.
• Effectively communicate scientific understanding and own opinions/ideas in written or oral arguments, using appropriate discipline-related and academic discourse as well as technology.
• Demonstrate effective functioning as a member and/or leader of a team or a group in scientific projects or investigations, with self-directed management of learning activities and responsibility for own learning progress.

Integrated Assessment

As stipulated in the Assessment and Moderation Policy of the North West University (NWU), qualification, programme and module outcomes and assessment criteria are clearly formulated according to the South African Qualifications Authority (SAQA) Level Descriptors and correctly communicated to students as guiding principle for assessment practices at the NWU. At least one opportunity for integrated assessment, where the main purpose and key outcomes of the qualification are assessed, is included in the assessment activities for this qualification. The following formative assessment modes are used, namely class tests and integrated assignments, which form a maximum of 50% of the pass mark. Summative assessment consists of a 2 to 3 hour written examination per module with a weight of 50%. Part of the integrated assessment is the research report or mini-dissertation with a credit value of 32 which the student must submit under the guidance of a supervisor.