Master of Commerce in Economics

Purpose

The purpose of the qualification is to provide further depth knowledge and appropriate research skills that build on those of an Honours degree in Commerce or Economics that would enable students to operate professionally and competently as Economists in the Sub-Fields of Financial Markets and/or Economic Impact Assessment and/or Econometrics.

The degree thus aims at giving students the opportunity to deepen their theoretical base and to demonstrate their skills and research capabilities.

Rationale

The Master of Commerce qualification draws on the breadth of research and teaching expertise to assist learners to develop the advanced skills and knowledge required for a high-level position in industry, commerce or government.

The qualification also provides the opportunity to specialise in an area of business. It also provides the learner the opportunity to develop a breadth of knowledge across selected areas such as Accounting, Business Information Management, Marketing, Economics, Electronic Business, Employment Relations, Finance, Human Resource Management and Management and International Business.

Furthermore, this qualification provides learners with the skills necessary to succeed in today's competitive job market and/or to continue with further graduate studies in Economics, Management or related disciplines.

It is assumed that learners are competent in

• Research, reading and writing skills.
• Basic knowledge of research ethics.
• Knowledge of the discipline of Commerce in 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 admission provided a proper assessment of the prior learning has been conducted.

The process will be implemented in strict adherence to the relevant NMMU RPL Policy.

Access to Qualification

Access to the Master of Commerce in Economics is granted to applicants who are in possession of a

• BCom Honours degree in Economics or its equivalent at NQF level 8 with an aggregate pass of at least 60%.
• Foreign qualification that is equivalent to the above qualifications as determined by SAQA.

This qualification consists of the following modules at NQF level 9 totalling 180 credits

Compulsory Modules

• Research Treatise ECO 501 1, 100 credits.
• Advanced Micro-economics ECO 506 1, 20 credits.

Elective Modules

Learners must select three of the modules listed below each worth 20 credits

• Advanced Econometrics ECO 502 1.
• Economic Impact Assessment ECO 503 1.
• Advanced Financial Markets ECO 504 1.
• Advanced Macroeconomics ECO 505 1.

1. Demonstrate advanced knowledge, insight and understanding of the principles, practices and procedures prevalent in the field of Economics.
2. Analyse critically the theories, techniques and procedures relevant to the field of Economics, with particular reference to Financial Markets, Economic Impact Assessment and Econometrics.
3. Apply the theoretical principles, techniques and procedures acquired in the discipline 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 the Critical Cross- Field Outcomes are addressed in the qualification.

Assessment Criteria for Exit Level Outcome 1

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

Assessment Criteria for Exit Level Outcome 2

• Evaluate current processes and methods of knowledge production.
• Relate theory to practice.
• Implement relevant analysis strategies.
• Design and implement strategies for the processing and management of information for purposes of review and insight.

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 sub-fields, 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.

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 the application of specialised skills to make interventions and their unintended consequences.
• Initiate and lead 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 university's normal rules for post-graduate 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 work. The treatise is externally examined in accordance with the applicable University rules.