Master of Financial Engineering

Purpose

• The learner should develop intellectual competencies and practical skills in the mastering, analysis, interpretation and application of advanced financial principles in the context of the international economy, and be able to reflect on the associated managerial decisions, through quantitative analysis and to assess the effect thereof in the holistic financial context.
• The qualification will provide qualifying learners with the opportunity to further study at NQF Level 8 on a doctoral degree qualification in Economics.

Rationale

• The City of Johannesburg is the most important financial center in South Africa, measured by the number of banks, issue of international bonds, trading of foreign exchange and trading of foreign shares. To maintain this position the financial institutions are demanding ever-better qualified staff. This is particularly acute for those working in banking, investment, the analysis of financial markets generally and the management of risk.
• A successful career in the modern financial industry requires a rich mix of intellectual abilities, a broad knowledge of analytical techniques and an understanding of how to apply and communicate these skills in practical situations.
• The masters in Financial Economics have been designed to address the expressed needs of the private sector in coordination with practitioners from various financial institutions with the demands of today's financial industry in mind. The qualification reflects a blend of financial, monetary and economic theory and quantitative methods applicable to the analysis of financial markets, and will equip learners for a wide range of careers in finance and commercial banking.

Recognition of Prior Learning (RPL)

Recognition of Prior Learning in the case of learners not complying with the formal admission requirements will be conducted in accordance with the policy and guidelines of the University concerning the recognition of other forms of formal, informal and non-formal learning and experience. Recognition takes place only where prior learning corresponds to the required NQF-level, and in terms of applied competencies relevant to the content and outcomes of the qualification. Through recognition of prior learning learners may gain access, or advanced placement, or recognition of status, on condition that they continue their studies at this University.

Entry Requirements

The minimum entry requirement for this qualification is

• Bachelor of Arts Honours: Monetary and Financial Economics, NQF Level 8.

1. The learners should be able to make a distinguished contribution to knowledge in the field of Economics through the cumulative impact of original research.
2. The learners should be able to demonstrate acquired competence in applying the advanced theoretical principles of problem identification and solving in the field of Financial Economics correctly and reflect on the applications made (problem solving skills).
3. The learners should be able to plan and undertake advanced research in the field of Financial Economics including the gathering, analysing, synthesizing and interpretation of information on financial economic issues correctly by utilizing the relevant theoretical research principles and reflect on the research undertaken (research skills).
4. The learners should be able to communicate effectively orally and in writing on an advanced level with the different role players in the field of Financial Economics by applying the theoretical principles of communication and reflect on the application made (communication skills).
5. The learners should be able to demonstrate an advanced theoretical and practical macro vision, taking into account socio-political and multi-cultural factors of Financial Economics internationally, nationally, provincially/ regionally and locally (development of macro vision).
6. The learners should be able to organise and analyse knowledge relevant to entrepreneurship in the field of Financial Economics by applying advanced theoretical aspects and reflect on the application thereof (entrepreneurship).
7. The learners should be able to accept the responsibility for their own activities in the field of Financial Economics and act as academic leaders and experts in the field of Financial Economics (entrepreneurship, self-responsibility skills).
8. The learners should be able to practice acceptable social sensitivity in the relationships with others and work effectively as a member of a team, group, organization or community by implementing advanced relevant theory and reflect on the implementation thereof (team ship).
9. The learners should be able to utilize appropriate technology (e.g. computer and internet) effectively in the Financial Economic environment showing responsibility towards the environment and health of others (technological and environmental literacy).
10. The learners should be able to explore different effective learning strategies to acquire advanced skills within the field of Financial Economics (explore learning strategies).
11. The learners should be able to promote responsible citizenship through their approach towards the holistic application of advanced management capabilities within the field of Financial Economics both on the local and national level (promoting citizenship).
12. The learners should be able to practice acceptable social, cultural and aesthetic sensitivity towards the different role players in the Financial Economic industry by applying the appropriate theoretical principles on a advanced level and reflect on the application made (cultural and aesthetic sensitivity).
13. The learners should acquire acceptable employment seeking skills for entry into the different sectors of the Financial Economic industry utilising the theoretical principles and reflect on the application thereof (employment seeking skills).

Associated Assessment Criteria for Exit Level Outcomes 1

• Competence is shown when learners are able to demonstrate, through a coordinated compendium of original, relevant work, a distinguished contribution to the discipline.
• Learners are constantly confronted with problems in the financial environment that they are expected to analyze theoretically and fundamentally, and then they have to develop procedures and/or models by means of assignments, presentations and written examinations to address the problems.
• The qualifying learner completes a dissertation or research report.

Associated Assessment Criteria for Exit Level Outcomes 2

• While preparing and evaluating assignments, presentations or written examinations, the learner's research methodology is constantly evaluated in terms of the collection, analysis and interpretation of the data as well as the significant formulation thereof by means of feedback, study guidance and group discussions.

Competence is shown when learners are able to

• Demonstrate their ability to identify and solve problems in the field of Financial Economics correctly by methodically examining the issues, researching and critically evaluating circumstances and/or situations.
• Accurately analyse facts and opinions from prescribed and recommended literature, and introduce them appropriately into class discussions, essays and assignments.
• Independently find new literature on the internet and in books and journals, and integrate this appropriately into class discussions, essays and assignments.
• Solves problems by developing a range of creative alternative solutions that achieve acceptable reasoned outcomes.
• Integrate theories relevant to Financial Economics.

Associated Assessment Criteria for Exit Level Outcomes 3

Competence is shown when learners are able to

• Formulate an acceptable research proposal on a topic related to Financial Economics.
• Conduct research by finding appropriate data and assembles it in a structured manner.
• Critically analyze research findings and identifies key elements, draw conclusions and make recommendations.
• Discuss the application of theory in a practical scenario.
• Write up findings in a research report, using appropriate academic language, argumentation and presentation.

Associated Assessment Criteria for Exit Level Outcomes 4

• Evaluation of the learners' presentations regarding their research progress and research results are done in order to determine to what extent the learners could communicate their research progress and research results significantly by complying with communication principles.
• Competence is shown when learners are able to:
• Communicates orally and in writing on an advanced academic level during class presentations, assignments, presentation of research article results.

Associated Assessment Criteria for Exit Level Outcomes 5

• In the research presentation, the results must be presented in context and the broad implications of the financial research results, must be explained nationally, internationally, regionally and locally.

Associated Assessment Criteria for Exit Level Outcomes 6

Competence is shown when learners are able to

• Organise and coordinate resources and opportunities in the field of Financial Economics by applying advanced theoretical aspects and reflect on the application thereof.
• Construct original arguments, giving cogent reasons for accepting or rejecting expert opinion.

Associated Assessment Criteria for Exit Level Outcomes 7

• In the research presentation, the results must be presented in context and the broad implications of the financial research, must be explained and defended.

Competence is shown when learners are able to

• Accept the responsibility for their own activities in the field of Financial Economics.
• Share the findings and experience of research with other academics through a public presentation such as research papers, journal articles and conference papers.
• Achieves task objectives within the planned time-scale and using the allocated resources.

Associated Assessment Criteria for Exit Level Outcomes 8

• Research must be placed in context with regard to all the role-players with a specific interest in the research, and the research must be presented in publications.

Competence is shown when learners are able to

• Demonstrate a variety of personal skills in dealing with others, including listening, communication, negotiation, co-operation, diplomacy and leadership.
• Work effectively with others to achieve planned outcomes.

Associated Assessment Criteria for Exit Level Outcomes 9

• Research assignments are of such a nature that learners must - in a transparent way - make use of all technological facilities at their disposal with regard to the processing and presentation of their results.

Competence is shown when learners are able to

• Applies appropriate scientific principles to analyse data and provide information to support decision-making.
• Use information technology to communicate with others in a responsible and effective manner.

Associated Assessment Criteria for Exit Level Outcomes 10

• Various evaluation instruments (research papers, presentations, assignments, research articles and peer reviews), each with a characteristic focus, are used to evaluate the strategic skills that the learners can use to address problems and to learn effectively.

Associated Assessment Criteria for Exit Level Outcomes 11

Competence is shown when learners are able to

• Act as external associates, market role-players evaluate the responsibility of the researcher not only with regard to the content, but also the techniques used to ensure the results and the skills presented through the research in terms of market relevance.
• Demonstrates the application of previously required knowledge, understanding and skills to new activities, areas of work or contexts.

Associated Assessment Criteria for Exit Level Outcomes 12

• Research must constantly be linked to relevant problems in the financial sector and be sensitive for the skills in demand in the financial sector.

Competence is shown when learners are able to

• Apply knowledge of alternative cultures, environment, systems and methods of working in other countries/continents to support problem solving.

Associated Assessment Criteria for Exit Level Outcomes 13

Competence is shown when learners are able to

• Demonstrate the acceptable employment seeking skills for entry into the different sectors of the Financial Economic industry by applying the theoretical principles of employment seeking and reflect on the application thereof.

Integrated Assessment

Because assessment practices must be open, transparent, fair, valid, and reliable and ensure that no learner is disadvantaged in any way whatsoever, an integrated assessment approach is incorporated into the qualification. Both formative and summative assessment processes are accounted for to monitor progress, provide opportunities for improvement and learning during the qualification and to determine competence at the end of the qualification.

Formative assessment practices that will be implemented

• Learners are continuously assessed via written tests, assignments, presentations and research papers. Learners are continuously assessed and supported by their supervisors.

Summative assessment practices that will be implemented

Course work

Integrated assessment, focusing on the achievement of the exit-level outcomes, will be done by means of a written or oral examination in each module.

Short Dissertation/Research article

Integrated assessment, focusing on the achievement of the exit-level outcomes, will be done by means of a short dissertation/research article on a selected topic within the field of Financial Economics. The short dissertation/research article should clearly demonstrate some evidence of original work. The short dissertation/research article is submitted to the supervisor as well as at least one external examiner. They will typically judge the short dissertation/research article in accordance with the following criteria:

• The standard of the research methodology.
• The scientific and academic quality of the processes and structures.
• The technical presentation and layout, including the standard of language usage and editing.

Each examiner (internal and external) submits a report regarding the short dissertation/research article. A percentage mark is allotted and an examination report clearly indicates whether the short dissertation/research article is: accepted unamended; or accepted after improvements have been made; or referred back for revision and re-submission for examination; or rejected.

• A pass for a module is an average of at least 50% for the final mark.
• A pass for the short dissertation/research article is at least 50%.

Learners need to pass both the course work and the research article/short dissertation independently.