Diploma in Economics

Purpose

Students who obtain this qualification will have a sound knowledge and understanding of issues regarding society's use of scarce resources towards the satisfaction of a multitude of often competing wants. They will thus be able to apply this knowledge to the specific economic problems that need to be solved by the participation of the state in a market economy, by the participation of the state and of the private sectors in matters pertaining to economic development, to international economic relations and to labour markets.

Rationale

Economics is taught in junior and in high schools with the result that a substantial number of potential students leave school at Grade 12 with a fair understanding of and interest in the field of study of Economics. Not all these potential students, however, qualify for admission to the University's Degree programmes in Economics, yet show an interest in the subject they met during their school careers. Such potential students can qualify in a direction where they can be a sound research back-up to graduates in Economics employed as researchers in the private and the public sectors. Students who have qualified with the proposed Diploma will also find employment in the world of economic and financial journalism-a field which is not at the moment always served by properly qualified persons.

Recognition of Prior Learning (RPL)

This qualification may be obtained in part through the Recognition of Prior Learning according to the institution's policies and regulations for the Recognition of Prior Learning. Such Recognition of Prior Learning can be based on either prior knowledge or experience gained in the workplace. A structured RPL process where the candidate demonstrates his/her competence in terms of specific Exit Level Outcomes in terms of his/her prior knowledge or experience is recommended. Assessment of prior learning should be done on a case by case basis and the results of such assessments moderated externally. Generally, no more than 50% of the credits for this qualification can be earned through Recognition of Prior Learning.

Entry Requirements

• National Senior Certificate National Qualification Framework (NQF) Level 4 or equivalent qualification.

Learning components; Number of Credits allocated; National Qualification Framework (NQF) Level

• Fundamentals; 70 Credits.
• Core; 255 Credits.
• Electives; 50 Credits.

1. Determine the influence of the micro and the macro environment on the public sector regarding public sector revenue and expenditure.
2. Determine the influence of the micro and the macro environment on the international economic relations of the country and vice versa.
3. Determine the influence of the micro and the macro environment on economic development in the country and vice versa.
4. Determine the influence of the micro and the macro environment on the functioning of labour markets and vice versa.
5. Support a description of the above influences by quantitative analyses.
6. Communicate the above descriptive and quantitative analyses in ways that will be accessible to different audiences and readers.

Associated Assessment Criteria for Exit Level Outcome1

• Distinguish micro and macro factors that influence the public sector's ability to raise revenue by means of taxation.
• Distinguish micro and macro factors that make a demand upon public sector expenditure.

Associated Assessment Criteria for Exit Level Outcome 2

• Distinguish the domestic micro and macro factors that influence producers in the country in their ability to compete on international markets.
• Distinguish the micro and macro factors in foreign countries that influence the ability of local producers to compete in international markets.

Associated Assessment Criteria for Exit Level Outcome 3

• Distinguish the domestic micro and macro factors that determine the extent to which economic growth is converted into the economic development of domestic communities.
• Distinguish the effect of economic development of one period upon the economic development of subsequent periods.

Associated Assessment Criteria for Exit Level Outcome 4

• Distinguish the micro and macro factors that affect the functioning of the specific labour markets operating within specific sectors of the economy.
• Distinguish the effect on labour markets of labour market institutions such as trade unions and employees' organisations.

Associated Assessment Criteria for Exit Level Outcome 5

• List and describe the sources of micro-and of macroeconomic data on the South African economy and on the economies of the country's present and emerging trading partners.
• Extract and explain relevant data for specific case studies.

Associated Assessment Criteria for Exit Level Outcome 6

• Present case studies in a verbal manner with the aid of a written text illustrated by statistical data and graphics.

Integrated Assessment

• Written examinations.
• Tests, projects, case studies and assignments.
• Presentations to class members and members of staff.