Master of Arts in Economics

Purpose

The purpose of this qualification is to provide further depth of knowledge and appropriate research skills beyond an Honours Degree: Economics that will enable learners to operate professionally and competently as economists in the subfields of Financial Markets and/or Economic Impact Assessment and/or Econometrics.

This qualification provides a unique platform for advanced postgraduate research and training in the fields of Financial Markets, Economic Impact Assessment and Econometrics. It is especially designed to equip researchers to do field work, economic impact analyses and apply econometric techniques.

It is the underlying intention of the qualification to create, in each individual, an awareness of the significance of

• Reflecting on and exploring a variety of strategies to learn more effectively.
• Participating as responsible citizens in the life of local, national and global communities in accordance with a personal code of conduct that is also applicable to the field of economic analyses.
• Being culturally and aesthetically sensitive across a range of social contexts.
• Exploring education and career opportunities fully.
• Developing entrepreneurial opportunities.

Rationale

The aim of the Master of Arts: Economics is to provide learners with the skills, knowledge and understanding needed to analyse and evaluate complex and interrelated economic issues. This Qualification encourages learners to become more open and independently minded individuals capable of applying their economic skills to everyday life situations.

In addition, the proposed Degree aims at giving learners the opportunity to deepen their theoretical base and to demonstrate their skill levels and research capabilities and become better informed and more responsible citizens, consumers and producers by allowing them to develop a critical awareness of how underpinning economic concepts and theories affect our daily life.

Learners' horizons will be expanded as they will be challenged to look at local, national and global economic issues in new ways. This will enable them to become more confident and successful in their ability to understand and offer resolutions to economic situations, thereby allowing them to become more effective contributors to society.

The research and higher-order thinking skills developed throughout this qualification will give learners opportunities to contribute to team working and to working more independently. This will develop attributes such as taking responsibility and ownership, self-motivation, using initiative and communication and interpersonal skills, all of which are important in the world of work and for successful lifelong learning.

The qualification covers a broad area of learning that allows for further progression and depth of study at a later stage, as well as allowing learning to develop in a challenging and enjoyable way. Understanding the key concepts and theories of economics and applying them in current economic contexts ensures that its relevance to learners is far-reaching.

The applicant should have the following competencies at NQF Level 8

• Research, reading and writing skills.
• Basic knowledge of research ethics.
• Knowledge of the discipline in the field of Economics research.

Recognition of Prior Learning (RPL)

Applicants who do not meet the admission criteria as stipulated, but who can demonstrate experiential or work-based learning at an equivalent level may be considered for RPL, provided a proper assessment of the prior learning has been conducted. Such applicants may be required to broaden their knowledge base by enrolling for identified preliminary modules prior to admission or parallel modules after admission. The process will be implemented in strict adherence with the relevant institutional RPL Policy.

Access to the Qualification

Access to the Master of Arts: Economics is granted to all applicants who are in possession of

• Bachelor of Commerce Honours Degree: Economics or its equivalent at NQF Level 8 with an aggregate pass of at least 60%.
• A Foreign qualification that is equivalent to the above qualification as determined by SAQA.

The qualification consists of the following modules at NQF Level 9

Core Modules

• Research Treatise 1, 100 Credits.
• Advanced Microeconomics 1, 20 Credits.

Elective Modules (choose three)

• Advanced Econometrics 1, 20 Credits.
• Economic Impact Assessment 1, 20 Credits.
• Advanced Financial Markets 1, 20 Credits.
• Advanced Macroeconomics 1, 20 Credits.

Total Credits at NQF Level 9 = 180.

1. Demonstrate advanced knowledge, insight and understanding of the principles, practices and procedures prevalent in the field of Economics.
2. Critically analyse the theories, techniques and procedures relevant to the field of Economics, and with particular reference to Financial Markets, Economic Impact Assessment and Econometrics.
3. Apply the theoretical principles, techniques and procedures acquired in these fields, in a professionally competent manner.
4. Undertake independent research and present research findings in a form that can be disseminated effectively to users.

Critical Cross-Field Outcomes

All trhe Critical Cross-Field Outcomes are addressed in this qualification.

Associated Assessment Criteria for Exit Level Outcome 1

• Demonstrate specialist knowledge of the field of Economics and the ability to evaluate and critique the most prevalent theories in the discipline, their fundamental concepts, principles and use.
• Describe clearly the processes and procedures related to the discipline and demonstrate insight into their interactions.
• Show an appreciation of the political dynamics that exist in the context of economic and financial development in the public and private sectors.

Associated Assessment Criteria for Exit Level Outcome 2

• Demonstrate an ability to evaluate current processes and methods of knowledge production.
• Demonstrate a capacity to relate theory to practice.
• Implement relevant analysis strategies.
• Demonstrate an ability to design and implement strategies for the processing and management of information for purposes of review and insight.

Associated Assessment Criteria for Exit Level Outcome 3

• Identify, develop and apply techniques and procedures that reflect combined efforts to address issues that arise in the identified fields.
• Identify, describe and apply the theoretical principles, techniques and procedures relevant to Economics and its selected subfields, in a professionally competent manner.
• Respond appropriately to problems that arise by identifying, analysing and resolving situations created by external and internal forces that impact on the work environment.

Associated Assessment Criteria for Exit Level Outcome 4

• Collect, produce and communicate information retrieved from resources of academic and professional discourses generated in the field of economics and finance to a range of audiences.
• Defend ideas that are the outcomes of research in the field of economics.
• Address application of specialised skills to make interventions and the unintended consequences.
• Lead, initiate processes, implement systems and work independently while managing resources and taking full responsibility for the outcomes of these endeavours.

Integrated Assessment

Each module requires the submission of two written assignments during the semester plus a formal class presentation followed by a three-hour examination at the end of the semester, subject to the institution's normal rules for postgraduate module examinations. The treatise will entail a research project which requires integration of the theoretical knowledge and skills embodied in the selected modules with the research effort. The treatise is externally examined in accordance with the applicable institutional rules.