Master of Commerce in Competition and Economic Regulation

Purpose

The purpose of the Master of Commerce in Competition and Economic Regulation is to equip students with the specialist knowledge and skills required to undertake rigorous economic analysis in competition and regulatory matters, contributing to the sub-field of applied economics. Successful students will be able to use these skills to analyse firm behaviour in competition cases for the competition authorities and in the private sector. This includes mergers, abuse of dominance and cartel cases across a range of industries.

Students will be able to evaluate the potential harm of anticompetitive behaviour to consumers, industrial sectors and the economy as a whole. Students will further engage with important regulatory matters such as tariff setting and investment decisions in regulated industries such as telecommunications, banking, energy and transportation, which have far reaching economic implications. Students will put into practice theoretical economic concepts related to competition and regulatory economics and undertake discipline specific research.

Rationale

The Centre for Competition, Regulation and Economic Development (CCRED), formerly known as the Centre for Competition Economics (CCE), was established at the University. The centre aimed to meet the needs for improved research and teaching in the growing area of competition economics. The centre's scope has since broadened to include not only competition economics, but also analysis of economic regulation and economic development and to give guidance to South African and other African competition authorities and economic regulators.

The CCRED has broaden its current academic offering by offering a Master's in Competition and Economic Regulation to cater for the growing demand and skills gap in these fields in Africa. The work that CCRED has undertaken over the past few years has included, in addition to its core research, extensive training in Competition Economics and Economic Regulation in southern and East Africa. This highlights the nascent demand for the subject matter in the field.

The demand for such a qualification would come from

• National and regional competition authorities.
• National and regional independent economic regulators.
• Regulated entities (both state-owned and privatised).
• Government departments.
• Private economic consulting firms.
• Students who wish to pursue a Masters and A Doctor of Philosophy (PhD) in the specialised fields of competition and economic regulation.

This qualification will allow for progression of students who have successfully completed an Honours Degree in Economics at old Level 7 or new Level 8; or an Honours Degree or equivalent qualification in Arts, Business, Commerce, Management or Science at old Level 7 or new Level 8 majoring in Economics, or a recognised equivalent international qualification (equivalence certified by the South African Qualifications Authority (SAQA), where applicable).

In line with the mission and strategic objectives of the institution, the qualification is targeted at students not only from South Africa, but throughout Africa. Recognition of the importance of encouraging competition and effective economic regulation in small, concentrated economies following liberalisation and privatisation has led to many African countries, particularly in the Southern African Development Community (SADC) region, setting up competition institutions and independent economic regulators in industries such as telecommunications, banking, energy and transport infrastructure.

There is a serious skills shortage both in South Africa and in other African countries to effectively cater for the growing demand by the public and private sectors for economic experts and practitioners in these fields, resulting in skills often being outsourced internationally.

Recognition of Prior Learning (RPL)

The Faculty accepts RPL as an integral part of education and academic practice. It is acknowledged that all learning has value and the Faculty accepts the challenge to assess prior learning and award credit that is aligned to Faculty programmes to promote lifelong learning.

The purpose of the University's RPL policy, which directs the Faculty's RPL procedure, is to recognise prior learning in order to provide for access into programmes, grant advanced placement in programmes and grant credits for modules on the principles and processes that serve as basis for faculty-specific RPL practices.

Entry Requirements

• An Honours Degree in Economics at new Level 8/pre-2009 Level 7.
• An Honours Degree or equivalent qualification in Arts, Business, Commerce, Management or Science at new Level 8/pre-2009 Level 7 majoring in Economics.

This qualification comprises compulsory modules 180 Credits.

• Advanced Economics of Competition and Regulation, 20 Credits.
• Quantitative Methods and Econometrics for application in Competition and Economic Regulation, 10 Credits.
• Research Methods for analysis of Competition and Economic Regulation, 10 Credits.
• Minor Dissertation: Competition and Economic Regulation I, 45 Credits.
• Microeconomic Issues in Development, 20 Credits.
• Macroeconomics Issues in Development, 20 Credits.
• Financial Analysis for Competition and Economic Regulation, 10 Credits.
• Minor Dissertation: Competition and Economic Regulation II, 45 Credits.

• Demonstrate an in-depth critical knowledge of competition and regulatory economics with the specialist skills required to undertake rigorous economic analysis in these fields.
• Demonstrate the ability to utilise tools and techniques in assessing quantitative issues in competition cases and regulatory matters.
• Critically develop an appropriate research proposal and minor dissertation in the assessment of competition and economic regulatory matters.
• Demonstrate an in-depth understanding of the relevant features of the South African economy, including industrial structure, level and patterns of poverty and inequality as well as industrial and trade policy.
• Demonstrate an in-depth understanding of models of economic growth and macroeconomic policy approaches of governments in developing countries.
• Apply financial theories and techniques relevant to the economic analysis of problems in competition cases and in economic regulation.
• Apply research principles and methods applicable to the fields of competition economics, policy and economic regulation.

Associated Assessment Criteria for Exit Level Outcome 1

• Identify, analyse and address complex problems by drawing on knowledge of a specialist area in competition and regulatory economics.
• Provide assessments and apply economic tools and evidence in the analysis of competition cases and economic regulation matters.
• Apply the different forms of tariff determination in regulated industries.

Associated Assessment Criteria for Exit Level Outcome 2

• Undertake analysis relevant to competition cases by evaluating data, such as merger simulations, impact assessments and damage estimations of competition contraventions.
• Conduct advanced descriptive and graphical analyses of economic data related to competition cases and regulatory matters.

Associated Assessment Criteria for Exit Level Outcome 3

• Apply a proposed methodology as articulated in their research proposal is applied, by using qualitative and/or quantitative methods, techniques, processes and technologies designed, selected and applied to complex theoretical and practical problems.
• Defend any solutions generated within the design of the research proposal.
• Develop a coherent research proposal under supervision.

Associated Assessment Criteria for Exit Level Outcome 4

• Demonstrate knowledge of the industrial organisation, including the economic implications of patterns of industrial organisation.
• Explain alternative perspectives on industrial policy and on trade policy, in both the international literature and in South African policy debates.
• Debate South Africa's current industrial policy.
• Explain key quantitative measures of poverty and inequality, as well as non-monetary approaches to poverty.

Associated Assessment Criteria for Exit Level Outcome 5

• Distinguish clearly between alternative theories and models of economic growth, including classical, neo-classical, endogenous growth and increasing returns, and their relevance to poor countries today.
• Use graphical and mathematical techniques to analyse instability and macroeconomic adjustments in policy models.
• Critically analyse macroeconomic policy approaches of developing country governments and multilateral institutions.

Associated Assessment Criteria for Exit Level Outcome 6

• Apply core and advanced concepts in economics and finance to regulated industries.
• Calculate measures of costs and other financial accounting information related to competition and regulation.
• Critically analyse different methods of regulation of public utilities and evaluate optimal approaches to the evaluation of the regulatory asset base.

Associated Assessment Criteria for Exit Level Outcome 7

• Submit a minor-dissertation, according to the correct research principles and methods, to the satisfaction of the supervisor/s.

Integrated Assessment

The method of assessment varies according to the modules.

Summative Assessment

• Microeconomic Issues in Development-Short weekly written assignments and class participation, long written assignments, Individual class presentation and Final examination.
• Macroeconomic Issues in Development-Semester test, Research paper and Final examination.
• Advanced Economics of Competition and Regulation - Examination, Weekly submissions and Individual assignment.
• Financial analysis for Competition and Economic Regulation-Examination, Weekly submissions and Individual assignment.
• Quantitative methods and econometrics for application in competition and economic regulation-Examination, Weekly submissions and Individual assignment.
• Research methods for analysis of Competition and Economic Regulation-Short written assignments, Proposal for minor dissertation and Presentation of proposal.
• Minor dissertation-Formal assessment report by internal and external assessors.

Formative Assessment

• Microeconomic Issues in Development-Case studies, Critical reviews of policy documents.
• Macroeconomic Issues in Development-Presentations, Case studies and Policy documents.
• Advanced Economics of Competition and Regulation - Seminars, group discussions, debates and Case studies.
• Financial analysis for Competition and Economic Regulation-Seminars, group discussions, debates and Case studies.
• Quantitative methods and econometrics for application in competition and economic regulation-Seminars, group discussions, debates and Case studies.
• Research methods for analysis of Competition and Economic Regulation-Group presentations and case studies.
• Minor dissertation-Final dissertation.