Postgraduate Diploma in Economics

Purpose

The Postgraduate Diploma in Economics is interdisciplinary and prepares learners for careers as Economists, Economic Managers, Financial Analysts, Economic Advisers and Planners, amongst others. The purpose of the qualification is to strengthen and deepen the knowledge in economics of learners in economics as well as working professionals from other disciplines. They will have knowledge of advanced reflection and development in economics by means of a systematic survey of cutting edge thinking, practice and research methods in economics. Learners will be able to demonstrate the ability to independently analyse, design, implement, monitor, evaluate, assess and prescribe economic programmes at local and international levels. The significance of this qualification is that it focuses the learner on a high level of theoretical engagement and intellectual independence, as well as the ability to relate knowledge to a range of contexts in order to undertake professional or highly- skilled work. The qualification will include conducting and producing a research report under the supervision.

Qualifying learners will develop

• A high level of intellectual independence.
• A systematic understanding of current thinking practice.
• Ability to apply a range of suitable methods in order to resolve problems.
• Ability to critically review information gathering.
• Ability to synthesise data.
• Present and communicate ideas.
• Identify, analyse and address complex or abstract problems in microeconomics, macroeconomics, econometrics, development economics, research methodology and industrial policy.

Rationale

The Postgraduate Diploma in Economics will provide learners with analytical skills, knowledge and understanding needed to analyse and evaluate complex and interrelated socio-economic issues. Furthermore, the investigative and higher-order thinking skills developed through this qualification will give learners opportunities to contribute to teamwork and to work more independently. This will develop attributes such as taking responsibility and ownership, self-motivation, using initiative, communication and interpersonal skills, all of which are important for successful lifelong learning and in the world of work.

The qualification will enable learners to become better informed and more responsible citizens, consumers and producers by allowing them to develop a critical awareness of how underpinning economic concepts and theories affect our daily life. Furthermore, learners' horizons will be expanded as they will be challenged to look at local, national and global economic issues in new ways. This will enable them to become more confident and successful in their ability to understand and offer resolutions to economic situations, thereby allowing them to become more effective contributors to society.

Qualifying learners will be able to contribute to the social, cultural and economic development of South Africa as well as to participate in the local and global economy. They will be able to work in various sectors such as government departments, financial institutions and non-governmental organisations as Economists, Economic managers, Financial Analysts, Economic Advisers and Planners, amongst others and will be able to work under minimal supervision. Learners will be expected to produce a research proposal.

The Postgraduate Diploma in Economics is part of a learning pathway that starts with a Diploma in Economics and ends with a Doctoral qualification in Economics. After attaining this qualification, qualifying learners will be in a position to enrol for a Master Degree in Economics in their area of specialisation. The Postgraduate Diploma in Economics was formulated based on the advice from an advisory committee which emphasised the need to equip qualifying learners with skills that are relevant to the industry and society at large. This qualification will also provide learning opportunities for those learners who want to diversify their careers from other areas of studies other than economics. This means that admission will also be granted to those with Advanced Diplomas in fields other than economics.

Recognition of Prior Learning (RPL)

Learners who do not meet the entry requirements may gain admission through Recognition of Prior Learning (RPL). This qualification can be achieved in part through RPL. RPL is applied where an applicant provides certified evidence that previous learning is equivalent to the learning outcomes of a module of study..

In all cases, Credit Accumulation, Exemption, Recognition and Transfer (CAT) will be considered under the conditions of institutional policies and other forms of formal, informal and non-formal learning experience will be considered. RPL takes place only where prior learning corresponds with the required NQF Level and in terms of applied competencies relevant to the content and outcomes of the qualification.

Entry Requirements.

The minimum admission requirement is

• Bachelor of Economics, Level 7.

OR

• Bachelor of Commerce in Economics, Level 7.

OR

• Advanced Diploma in Economics, Level 7 or an equivalent.

The qualification consists of the following compulsory and elective modules at NQF Level 8 totalling 120 Credits

Compulsory Modules 105 Credits

• Macroeconomics, 15 Credits.
• Econometrics, 15 Credits.
• Mathematical Economics, 15 Credits.
• Microeconomics 15 Credits.
• Research Report, 45 Credits

Elective Modules (Choose One Module worth 15 Credits

• Industrial Policy, 15 Credits.
• Development Economics, 15 Credits.

1. Apply knowledge of current thinking and practice in the various fields of economics such as microeconomics, macroeconomics, econometrics, development economics, research methodology and industrial policy in the field of economics.
2. Conduct investigations by applying a range of suitable methods in order to resolve problems in the field of economics.
3. Use specialised skills in development economics and industrial policy to identify, analyse and address complex or abstract problems drawing systematically on microeconomic, macroeconomic, econometrics and methods appropriate to the field of economics.
4. Critically review information gathering, synthesis of data, evaluation and management processes in microeconomics, macroeconomics, econometrics, development economics and industrial policy in order to develop creative responses to problems and issues in the field of economics.
5. Present and communicate ideas in development economics, industrial policy, microeconomics, macroeconomics effectively to a range of audiences, offering creative insights, rigorous interpretations and solutions to problems and issues appropriate to the field of economics.

Associated Assessment Criteria for Exit Level Outcome 1

• Demonstrate integrated knowledge of intellectual independence and a systematic understanding of current thinking in microeconomics, macroeconomics, econometrics and development economics in the field of economics.
• Demonstrate integrated knowledge, intellectual independence and a systematic understanding of current thinking, practice, theory and methodology in the field of economics.

Associated Assessment Criteria for Exit Level Outcome 3

• Use specialised skills to address complex or abstract problems in development economics and econometrics drawing systematically on macroeconomics and research methods in the field of economics.

Associated Assessment Criteria for Exit Level Outcome 4

• Critically review information gathering, synthesis of data, evaluation and management processes in development economics to develop creative responses in the field of economics.

Associated Assessment Criteria for Exit Level Outcome 5

• Present and communicate creative insights, rigorous interpretations and solutions to problems and issues in microeconomics, macroeconomics, development economics to a range of audiences.
• Present and communicate creative insights, rigorous interpretations and solutions to problems and issues in industrial policy to a range of audiences.

Integrated Assessment

The focus of assessment activities in each module will be diagnostic and formative. These assessments will take the form of assignment, class discussions, seminars, case studies/group project, debates based on learning materials presented during lectures and assigned readings from prescribed texts and supplementary materials. The key categories of knowledge, comprehension, application, analysis, integration and evaluation will be covered through problem-solving and real-world applications. Tests and examinations assessment will be on the demonstration of the stated learning outcomes, including familiarity with and level-appropriate integration of fundamental concepts, principles and their applications.

The internal assessment of learner learning achievements is conducted by an academic staff responsible for a particular module. For semester modules, learners are given either 1 case study or 1 assignment, 2 tests and 1 examination at the end of the semester. For the year module (research report) learners will be assessed continuously through assignments, oral presentations and the submission of research proposal. The table below shows the breakdown of assessment strategy.

Summative Assessment

• Group Project/Case Studies.
• Individual Assignments.
• Research Report.

Formative Assessment

• Oral presentation presentations based on independent self-study.