Master of Philosophy: Development Finance

Purpose

The primary purpose of the Master of Philosophy: Development Finance is to provide advanced training in a field of study that is underdeveloped across the African continent. The aim is to establish a platform for sustainable development finance research. Specifically, the programme will produce a broad range of development finance experts for South Africa and the rest of Africa.

The programme provides a unique platform for postgraduate research and training in the field of development finance in developing and transitional economies. It is designed to equip government employees at central, provincial and municipal levels, as well as those involved with parastatal organisations, Non-Governmental Organisations (NGOs) and private sector employees in development finance institutions, with the knowledge, competencies and ethical value systems required in the field of development finance.

Rationale

The proposed Master of Philosophy: Development Finance is, by its definition, a community-inspired programme, designed to support financial, entrepreneurial and management programmes that will support emerging communities, governments, development finance institutions, Non-Government Organisations and some private sector institutions, across all the regions of Southern Africa, Africa and other parts of the world. In particular, the qualification will contribute to strengthening financial and economic development strategies for building a second economy in South Africa.

Basic knowledge of the principles and concepts of research and statistical methods is assumed.

Recognition of Prior Learning

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 through Recognition of Prior Learning. Such candidates may be required to broaden their knowledge base by enrolling for identified preliminary modules prior to or after admission, or parallel modules after admission.

Access to the Qualification

• A four-year Bachelor's or Honours Degree in Economics, Commerce, Accounting, Finance, or other finance-related Degrees or Postgraduate Diplomas at NQF Level 8.
• Admission is subject to departmental selection criteria as determined by the Faculty Management Committee. Preference will be given to those candidates with proven work experience in the finance departments of development banking and non-banking finance institutions, government-linked development finance departments or other institutions such as municipalities and Non-Government Organisations.

The qualification has 180 Credits and all 11 modules are compulsory.

The first ten modules have 12 Credits each, and the Dissertation has 60 Credits.

Modules

• Micro-enterprise Finance.
• Project Finance.
• International Finance for Development.
• Quantitative Methods in Development Finance.
• Issues in Development Finance.
• Project Management.
• Finance and Economic Growth.
• Monitoring and Evaluation.
• Local and Regional Development.
• Public Sector Finance.
• Dissertation.

1. Demonstrate advanced knowledge, insight and understanding of the principles, practices and procedures prevalent in infrastructural development, project finance, micro-enterprise and international finance for development.
2. Critically analyse the theories, techniques and procedures for financial sector development, financial management and finance issues for development in a developing and emerging market context.
3. Apply the techniques and procedures for financial sector development, financial management and finance issues for development 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

The Critical Cross-Field Outcomes are addressed throughout the qualification.

Associated Assessment Criteria for Exit Level Outcome 1

• Evaluate and critique the most prevalent theories in the discipline, their fundamental concepts and principles, their use and application, are demonstrated.
• Review the processes and procedures related to the discipline, and insight into their interaction.
• Articulate the political dynamics that exist in the field of development finance in the public and private sector.

Associated Assessment Criteria for Exit Level Outcome 2

• Illustrate the ability to evaluate current processes and methods of knowledge production.
• Display a capacity to relate theory to practice.
• Implement relevant analysis of strategies.
• 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

• Illustrate appropriate responses to external and internal forces affecting the development finance work environment.
• Monitor systems in accordance with specific requirements to compile relevant information and evidence required to support the monitoring process.

Associated Assessment Criteria for Exit Level Outcome 4

• Identify the research problem, define and detail it in the research proposal.
• Select and apply appropriate methods and techniques in the collection of data.
• Conduct research responsibly and ethically.
• Interpret data logically, reflecting clear understanding of the relationship between facts in the study and evaluating contradictory information.
• Apply effective information technology in the production of the research report.
• Apply correct language and numeracy skills in communicating the research problem, its investigation, the outcome, and the recommendations.
• Draw conclusions based on inferences and interpretation of critical reviews of evidence from measurements and valid statistical analyses.

Integrated Assessment

Formative assessment is based on a mixture of short assignments during the semester, presentations and informal tests and progress checks during contact sessions. It is used to provide feedback to learners and lecturers in order to improve learning. There will be two formal assignments/projects/essays per module and one three-hour examination. The outcomes of formative assessment contribute to a cumulative class mark and as entry to summative assessment.

Summative assessment takes the form of a three-hour examination in which learners are required to identify the key issues to be addressed in problems situated in the field of development finance, and solve such problems using critical and creative thinking. In both the assignment and examination they must also be able to communicate specialist knowledge and demonstrate effective practical findings relating to the broad field of development finance.