Postgraduate Diploma in Local Economic Development

Purpose

The purpose of this qualification is to provide learners with advanced knowledge and skills in the field of Local Economic Development (LED). A qualified learner will be able to:

• Analyse the key challenges facing LED projects in the developmental context of South Africa.
• Understand the dynamics of financial reporting within the LED context.
• Apply economic concepts and principles in decision making and action plans.
• Conduct a literary review of resources and describe the main theories and principles as they relate to LED in South Africa, as well as the regulatory framework governing LED in South Africa.

Rationale

There is an expressed need globally and locally for research in territorial, regional and local development which has opened the sub-field of Local Economic Development (LED) as a cross discipline which has components parented in the disciplines of economics, development, governance and territorial planning.

LED has a strong policy trajectory in South Africa and is closely aligned with distinctive policy for social development and economic growth. Consequently researchers are currently conceptualising LED and government departments and financial institutions are looking for Higher Education opportunities for the training of LED practitioners to ensure:

• An understanding of the governance, economic and development principles embedded in LED policy.
• Professional corporate and public management, finance and strategic leadership skills to enact policy.

Thus the Postgraduate Diploma in Local Economic Development is designed to provide learners with knowledge to be able to engage in the field of Local Economic Development (LED). This qualification is designed and intended to provide a platform for professionals who wish to progress from a more technical practice of their profession to positions of seniority and management where a new knowledge platform is required, namely one of organisational leadership. This qualification has significance for their professional and organisational identity. This qualification will enable learners to engage, and equip them with advanced theoretical knowledge in the area of organisational leadership, which will enable them to be able to critically reflect and to prepare them to further their studies to a Master's level in the related fields.

Recognition of Prior Learning (RPL)

RPL may serve the following purposes within the institution

• To allow mature-age learners (applicants who are at least 23 years old) without an appropriate qualification access, by accrediting learning obtained through experience.
• To allow learners without a relevant undergraduate Degree access to Postgraduate qualifications.
• To recognise prior learning by the awarding credits for modules or towards a qualification, up to a maximum of 50% of the qualification.

If a candidate is accepted via the RPL process, the University will be committed to providing an enabling learning environment for such non-traditional learners, and will ensure that appropriate policies, structures, resources and curricula are in place.

Learning that is obtained through experience (for either access or credit) will undergo the following procedures

• Preliminary information and advice (which may be a recommendation not to proceed with RPL) " Preparation of an application (with the assistance of a mentor) to demonstrate appropriate competence in terms of the exit level outcomes.
• Evidence must be presented; such evidence may take the form of modules or qualifications completed at another institution, an examination or assignment, a portfolio etc. A portfolio needs to provide documentary evidence in support of the specific RPL application. The candidate may also include any further documentation (in written, visual or aural/oral form, as appropriate for the discipline involved) in support of the application. In addition, an interview may be required.

Entry Requirements

The minimum entry to this qualification is a three year Bachelors' Degree or equivalent.

This qualification comprises compulsory modules at NQF Level 8 totalling 128 Credits.

Modules

• Local Economic Development (LED) and Developmental Government, 16 Credits.
• Strategic and Project Management for LED, 16 Credits.
• Accounting and Finance for LED, 16 Credits.
• Economics for LED Practitioners, 16 Credits.
• Sustainability in LED, 16 Credits.
• Marketing Management for LED, 16 Credits.
• Supply Chain Management for LED, 16 Credits.
• Integrative LED Research Project, 16 Credits.

1. Analyse the key challenges facing LED projects in the developmental context of South Africa.
2. Understand the dynamics of financial reporting within the LED context.
3. Apply economic concepts and principles in decision making and action plans.
4. Conduct a literary review of resources and describe the main theories and principles as they relate to LED in South Africa, as well as the regulatory framework governing LED in South Africa.

Associated Assessment Criteria for Exit Level Outcome 1

• Knowledge of and engagement with the theories and key concepts of LED to address the challenges of poverty, inequality and underdevelopment in the developmental context of South Africa is demonstrated.
• Theoretical frameworks are appropriately applied in the analysis to identify where the plan is divergent or deficient.
• The main issues, key challenges and regulatory framework governing LED in South Africa is understood.
• The concepts and theories of management and LED are appropriately applied in identifying the main challenges facing LED and these are communicated both verbally and in writing.
• Forms and types of partnerships with specific focus on social partnerships involved in LED in the South African Context is discussed and explored.
• Brokering issues and challenges relating to social partnerships and stakeholders are debated and evaluated.
• The contribution of the public, private and civil sectors partnership enactment is explored.
• An understanding of the complexity of challenges facing LED in South Africa is demonstrated and a systems approach is used to develop solutions.
• Strategic plans are developed and motivated to address the identified challenges to achieve the objective of sustainable local development.
• Practical and interdisciplinary solutions in the pursuit of sustainable local development are developed.
• Realistic, creative and flexible strategies are convincingly motivated when presenting solutions for sustainable local development.

Associated Assessment Criteria for Exit Level Outcome 2

• An LED project in a case study is analysed in terms of market, product/ service offered, financial and other resource requirements, and a SWOT and CVP analysis is carried out and reasons for investing in the project are given and motivated.
• How costs behave in relation to different production and sales activity levels are analysed and this knowledge is applied to classify costs appropriately, and estimate how costs will behave in the future for different LED projects.
• Quantitative and qualitative data are analysed to make financially sound decisions.
• Financial statements of a business are analysed regarding the financial performance and viability of the business.
• The commentary on the financial performance of the business is provided and the financial implications for management decisions is accurately interpreted.
• The importance of working capital management is explained, especially with regards to cash flow and appropriate techniques are applied to ensure effective and efficient management of debtors, stock and creditors.
• The importance of accounting and finance within the context of local economic development is explained.
• Financial management techniques are selected, how they can be used in the context is analysed and applied to add value to an LED project.

Associated Assessment Criteria for Exit Level Outcome 3

• Macro-economic and micro-economic concepts and tools are correctly applied to measure the performance of the national and local economy.
• A clear understanding of economic concepts and principles is demonstrated, and the appropriate tools are used to analyse and appropriate and economically sound decisions within an LED context are made.
• The meaning of key economic concepts is described using practical examples.
• The support for the venture is convincingly motivated and substantiated with appropriate statistics derived from the analysis.
• A realistic evaluation of the implications of the government's economic vision and goals for LED are taken into consideration when analysing the viability of the venture.
• The alignment of LED priorities to government's vision and goals are clearly described.

Associated Assessment Criteria for Exit Level Outcome 4

• Theoretical concepts are clearly described; a clear understanding of academic research is shown and the main steps in conducting practitioner research are followed.
• The research proposal is formulated in accordance with relevant theory and research methodology.
• The proposed research methodology is appropriately selected in accordance to the research question and includes the analysis of qualitative and/or quantitative critical perspective.
• The proposed research methodology is appropriate to the research question.
• The requirements for practitioner research are adhered to in the data collection and in the use of the analytical method(s).
• The research findings and recommendations are derived from the analysis of relevant qualitative and/or quantitative data, and analytical as well as critical thinking are reflected.

Integrated Assessment

Each module will be assessed through an integrated individual written assignment, in addition to a range of oral and written, group and individual class assignments and tests in order to give learners the opportunities to demonstrate a variety of competencies. The final assignment requires a learner to apply their learning in an integrated way to analyse a specific area related to their work context in a work-based assignment and to apply the theoretical frameworks to recommend solutions to identified problem areas. The research project will assess the ability of learners to integrate themes from different modules appropriately to a real scenario.