Master of Commerce in Economics

Purpose

To prepare learners to pursue careers in economics in academia, government and the private sector. This objective is met by developing the ability to think logically and creatively to analyse economic data through the application of the appropriate theory and research in seminars and written dissertations.

Rationale

To develop one's capacity to apply theory and learners will develop a deeper understanding of the core material in economics and of the South African economy and, at the same time, they will be able to specialise in particular areas of study. Sophisticated economic and econometric tools to solve economic problems.

Recognition of Prior Learning(RPL)

The institution accepts the principle underlying outcomes-based, source-based and life-long learning, in which considerations of articulation and mobility play a significant role, and subscribes to the view that Recognition of Prior Learning, whether acquired by formal education curricula at this or another institution or informally (by experience) is an indispensable element in deciding on admission to and awarding credits in an explicitly selected teaching-learning qualification of the institution.

An applicant who falls outside of the formal qualifications system, but who can demonstrate (through the production of substantial and satisfactory evidence) experiential or work-based learning or a non-formal qualification (or a combination), may be considered for admission and/or for the Recognition of Prior Learning for the achievement of the qualification in part or in full. An applicant who after such assessment, is deemed to have sufficient potential, but is in need of further academic development, must be directed to other suitable learning qualifications prior to admission or to parallel qualifications after admission.

Entry Requirement

• Bachelor of Honours Commerce in Economics, National Qualifications Framework (NQF) Level 8.

This qualification consists compulsory and Elective modules at National Qualifications Framework, Level 9 totalling at 192 Credits.

Compulsory Modules, Level 9, 160 Credits

• Research Methodology for Advanced Economics, 16 Credits.
• Advanced Econometrics, 16 Credits.
• Advanced Microeconomics, 16 Credits.
• Advanced Macroeconomics, 16 Credits.
• Coursework Research Dissertation, 96 Credits.

Elective Modules, Level 9, 32 Credits (Choose TWO Modules)

• Issues in International Trade, 16 Credits.
• Economics of Ports & Harbours, 16 Credits.
• Economics of Health Care, 16 Credits.
• Environmental Economics, 16 Credits.
• Development Economics, 16 Credits.
• International Economics, 16 Credits.
• Public Finance, 16 Credits.
• Special Topics, 16 Credits.
• Industrial Organisation, 16 Credits.
• Sustainable Resource Usage in South Africa, 16 Credits.
• Labour Economics, 16 Credits.

1. Understand a variety of econometric techniques such as those used to analyse macroeconomic time series, limited dependent variables and panel data.
2. Carry out econometric exercises using these techniques and to assess the validity of their use and how to interpret the output of econometric software packages.
3. Demonstrate the ability to identify and analyse an economic issue in an extensive manner.
4. Identify and interpret the existing economic literature on the issue in question, the ability to determine the availability of data pertinent to the issue in question, and the ability to replicate, to update and to critically assess established findings on that issue.

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

• Understand concepts, theories and principles.
• Use critical reasoning in general in a logical and creative way.
• Apply critical reasoning to the solution of problems.
• Communicate effectively and utilise appropriate techniques / methodologies for the effective presentation of an argument.
• Analyse problems / situations / the literature critically and present the results.
• Interact with peers and work as the member of a team, where appropriate.
• Access, synthesise, analyse and interpret data and information.
• Think creatively and utilise critical reasoning to place data and information in context.
• Use appropriate quantitative and qualitative analytical techniques.
• Interact with peers and work as the member of a team, where appropriate.
• Creatively and originality in the selection and treatment of a research topic of his/her own choice, usually but not necessarily relating to the South African economy.
• Holistic thinking and the integration of the learning experiences of all modules in the programme as they relate to the topic chosen.
• The critical application of theory to a real-world problem.
• The application of appropriate quantitative and qualitative skills to the analysis and evaluation of data.
• The critical assessment of the results of his/her analysis, and the recognition of the limits of the analysis
• Self-motivation, independence and self-reliance.

Integrated Assessment

Lectures are used to introduce learners to advanced material: the lecturer will identify key concepts and techniques, and describe these to learners. A variety of methods are then used to

facilitate the assimilation and application of this material. These include computer practicals, where learners are guided through econometric and other exercises; seminars, in which learners present "individually or jointly "appropriate material; and written assessments, which enable learners to demonstrate their understanding of core material and its applications in addition extensions.

In order for the assessment purposes pertaining the overall learning outcomes for the programme entail a set of field-specific outcomes that are developed in parallel to be achieved, Field- or module-specific outcomes are assessed using a variety of means, as appropriate to the module in question, but including (I) written assessments, (ii) tests, (iii) graded presentations and (iv) final examinations (which themselves may involve a combination of essays and problem sets) will form part of assessment methods.