Welcome to the Economics Department online site.

The Economics Department was established at the University in the 1970s, over the decades it has made great strides in developing its programmes to the point we now offer undergraduate and postgraduate qualifications that are world class and are sought after by both national and international students. We have a dynamic team of experts in a variety of specialisation that covers a broad spectrum sub-disciplines ranging from macroeconomics, finance, development economics, agricultural economics, monetary economics and econometrics (macroeconometrics and microeconometrics).

In recent years we have been developing our specialisation the economics of entrepreneurship and rurality. We are dedicated to offering the highest quality education to our students and to serve our local communities. Some of our staff are involved in education projects with the Department of Basic Education, while others are involved in projects promoting entrepreneurship within the rural setting. Many of our Master’s and Doctoral projects are directly concerned with rurality and local economic development issues.

Purpose and Rationale

The 4-Year Bachelor of Commerce Extended Degree is an alternative access programme, i.e. in providing alternative access in the fields of Accounting, Economics, Business Management and Human Resource Management. Students are given foundational provision covering relevant academic skills together with subject-related themes, required to facilitate learning in the regular modules of Bachelor of Commerce degree programmes. It is designed to develop competencies of students in language and numeracy and at the same time giving additional support by way of small group tutorials/lectures, for students to cope with the regular BCom modules. The combination of foundational modules enables students to develop a comprehensive perspective and effective strategies for adjusting to, and meeting the demands of, the higher education environment with the aim of being successful in the chosen Bachelor of Commerce programme.

BCom 4-Year Extended Degree: General Information

BCom: 4-Year Extended: Economics and Banking (2FEGEB)

Academic Structure:

BCom: 4-Year Extended: Economics and Insurance (2FEGEI)

(No students will be registered for this qualification in 2020)

Academic Structure:

BCom: 4-Year Extended: Economics and HR Management (2FEGEH)

Academic Structure

Purpose and rationale of the qualification

Purpose:

The aim of this qualification is to prepare graduates with the basic knowledge and skills required for students who enter the field of economics or business with the necessary knowledge and skills to create intellectual property, to produce knowledge products and to create value for their employers at production, research, innovation and managerial platforms.

The Bachelor of Commerce focuses on the factors that drive economic behaviour at both an individual and organisational level. The qualification will equip the graduates with the analytical, communication and problem-solving skills to effectively identify issues, source information and find efficient and practical solutions. It will empower graduates with foundational, practical and reflexive competence at a graduate-level to enable them to pursue careers in the local, national, regional and global business and public sector economic environments. The qualification has been tailored in consultation with representatives from leading organisations and HEI’s, ensuring graduates with an industry-relevant degree.

This qualification is a generic Bachelor of Commerce as it focuses on four core disciplines, namely accountancy, economics, business management and human resource management allowing students to graduate with an option of proceeding to higher degrees in one of two core commerce knowledge fields. It offers a wide range of specialisations which offer the student relevant knowledge and skills applicable in specific business and/or commercial niches in which they might wish to be employed or study further. This structure provides the student with the opportunity to tailor his/her learning to different contexts and different environments while ensuring a knowledge of the theory, principles and core elements in the relevant chosen discipline area. The qualification will enable the student to develop his/her intellectual capacity to understand the economic and business environment.

Rationale:

South Africa, as is the case with all developing countries, is faced with a shortage of skilled labour, particularly in the fields of entrepreneurship and management. Knowledge and skills in these areas and particularly in financial management are required to ensure the sustainability of business enterprises. This qualification will help students to develop that knowledge and those skills. Successful students will have the knowledge and skills to compete successfully in the global business environment both nationally and internationally. The qualification will give access to higher levels of learning. The qualification addresses the country’s need for competent middle and senior managers in both the public and private sectors.

Exit level outcomes

Graduates of this qualification will be able to:

• Demonstrate a fundamental knowledge of general principles and theories of business and their application in business and commerce.
• Demonstrate technical and communication skills and knowledge that are appropriate in the area(s) of their chosen specialisation.
• Display a continuing professional approach to work, community responsibilities and personal development.
• Solve problems in business and commerce.
• Work effectively as an individual, in teams and in organisations to create the opportunity to develop as a leader in a multi-disciplinary environment.

BCom degree: General information

BCom: Economics and Banking (2DEGEB)

Academic Structure

BCom: Economics and Insurance (2DEGEI)

(No students will be registered for this qualification in 2020)

Academic Structure:

BCom: Economics and HR Management (2DEGEH)

Academic Structure:

POSTGRADUATE QUALIFICATIONS

All qualifications in FCAL are accredited by the Council on Higher Education (CHE) and are registered with the South African Qualifications Authority (SAQA).

 General Admission Requirements

Prospective postgraduate students are advised to consult the University’s Manual for Postgraduate Studies carefully. On completing a baccalaureus degree students are not automatically admitted to the postgraduate programmes of the Faculty. Admission and registration for postgraduate programmes take place in accordance with the General Rules and meeting the specific entrance requirements of the different qualifications. The entrance requirements of the different qualifications may also differ. Entry into postgraduate studies will be subject to satisfactory performance at undergraduate level and the recommendation of the relevant department head and subsequent ratification by the Faculty Board of Commerce, Administration and Law.

Submissions and Deadlines

Students must make sure of the official deadlines for submitting examination documents, i.e. research projects, dissertations and theses. These dates are determined annually. A student who submits his examination documents after the prescribed deadline will most probably not receive his degree at the next graduate ceremony and he/she will have to wait for the next graduation ceremony. The implication of this negligence will be that the student will have to register and pay class fees for another year.

Bachelor of Commerce Honours in Economics (2HON05)

 Purpose and Rationale of the Qualification

The purpose of this programme is to develop the applied competency of the student in the acquisition, analysis, interpretation and application of economic theories, principles and methods. Students will develop specialised knowledge of Economics, through the study of various development-orientated and development-related streams of Economics, with a focus on the South African economy and within the global context. It will also prepare them for further study in Economics as a science.


The programme has been designed to equip students with the competencies and skills needed to be employed in a variety of fields of economics, and in different sectors of the economy such as private sector, public sector and financial sector. The purpose of this qualification is to provide students with the necessary knowledge to undertake highly-skilled professional work in the disciplines of economics and econometrics. The qualification is comprised of a broad-based curriculum to prepare the postgraduate student for a wide range of economics-related specialities. Mastering of the curriculum will provide students with the skills to synthesize complex economic and econometric problems through analysis and modelling. The successful student will gain an overall economic perspective which will provide them with a competitive advantage for employment. In addition, the student will be prepared for further studies in the field by developing research and reporting skills through the completion of a supervised research project in the field of economics.

Exit-level outcomes

A qualified student will be able to:

• demonstrate a sound and advanced understanding of key micro- and macroeconomic principles, international trade and finance, monetary economics and financial economics and successfully apply various econometric techniques and models to solve economic problems using both South African, SADC and BRICS data;
• understand advanced economic theories relevant to economic and local economic development;
• critically evaluate the need for prudential macroeconomic policies and effective regulatory frameworks in developing economies;
• construct multiple options of applying and integrating economic knowledge to solve theoretical, applied or real life economic problems;
• critically analyses firm behaviour, incentives and strategies and the impact of this on the economy;
• apply quantitative techniques, econometric tools, tests and economic evidence to evaluate economic issues, based on sound theoretical frameworks and challenge decisions through robust economic reasoning;
• exhibit an ability to reflect with self and others, critical of own and other people’s thoughts and actions, and capable of self-organisation and working in groups in the face of continual challenge from the economic environment; and
• demonstrate consciousness of, and engagement with, own learning and learning strategies, and awareness of the nature of knowledge and how new knowledge can be acquired in the economics environment.

BCom Honours in Economics: General Information

Academic Structure: BCom Honours in Economics

MASTER’S QUALIFICATIONS BY RESEARCH

“The primary purpose of a Master’s Degree is to educate and train researchers who can contribute to the development of knowledge at an advanced level, or prepare graduates for advanced and specialised professional development. Master’s graduates must be able to deal with complex issues both systematically and creatively, make sound judgements using data and information at their disposal and communicate their conclusions clearly to specialist and non-specialist audiences, demonstrate self-direction and originality in tackling and solving problems, act autonomously in planning and implementing tasks at a professional or equivalent level, and continue to advance their knowledge, understanding and skills.” (HEQF qualification descriptors, Government Gazette 5 October 2007).

Student applications for admission into Masters’ degree qualifications are forwarded to the programme coordinator per Department. The Head of the Department and the programme coordinator then acts as a selection committee to undertake the final selection. The Departments evaluate each application individually (on the basis of prior academic record, work record and prior learning and on merit to select for admission those applicants with the aptitude, scholarship and analytical skills necessary to successfully complete an advanced degree. Candidates, who meet the requirements set by the department, are invited for an interview with the selection panel. The task of the panel is to assess the potential of the candidate to successfully complete his/her studies within the required time frame and of the quality required by the Faculty. The following guidelines serve as a basis for the selection of students: the ability to write coherently; the ability to interpret research findings; a working knowledge of their proposed field of study; they should be acquainted with the current issues, the most respected journals and the most respected authors and computer literacy and access to the internet.

The teaching philosophy for post-graduate studies is based on the following assumptions:

• That the students are adults and that the principles underpinning adult learning inform the teaching approach to be used. This includes self-directed learning, self-paced learning and critical reflective learning.
• The students are independent students and should develop the ability to synthesise, analyse and interpret a variety of facts and be able to formulate a critical stance.
• That students are guided and supported to develop the ability to understand the variety of academic discourses and the ability to develop sound academic writing skills that are of a standard that corresponds with work of a postgraduate standard.

Master of Commerce: Economics (2MAS05)

Purpose and Rationale of the Qualification

 The primary purpose of this qualification is to provide qualifying students with applied competence, on an advanced level, in the mastering, analysis, interpretation and understanding of economic principles and methods. Students should be able to undertake independent and scientific research. Students should also be able to communicate research results and findings in written form.

This qualification prepares students to reflect on their own economic applications to assess the effect thereof in the holistic context of Economics as a social science within their everyday lives.

Exit-level outcomes:

The exit level outcomes of the students include the following:

• • Demonstrate their competence in applying the advanced theoretical principles of problem identification and solving in the field of economic, business and financial management correctly and reflect on the application made. (Problem solving skills).

• • Plan and undertake advanced research in the field of economics, including the gathering, analysing, synthesising and interpretation of information on economic related issues correctly by utilising the relevant theoretical research principles and reflect on the research undertaken (Research skills).

• • Communicate effectively orally and in writing on an advanced level with the different role players in the field of economics, by applying the theoretical principles of communication and reflect on the application made (Communication skills).

• • Accountably develop an advanced theoretical and practical macro-vision, taking into account socio-political and multi-cultural factors of economics, internationally, nationally, provincially or regionally and locally (Develop a macro-vision).

• • Accept the responsibility for their own activities in the field of economics, business and financial management. (Entrepreneurship, self-responsibility skills).

• • Practise acceptable social sensitivity in the relationship with others and work effectively in a team by implementing advanced relevant theory and reflect on the implementation thereof. (Team-work).

• • Utilise appropriate management technology (e.g. computer and e-mail) effectively in the economic environment (Technological and environmental literacy).

• • Promote responsible citizenship through their approach towards the holistic application of advanced management capabilities within the field of economics, both on the local and national level (Promoting citizenship).

• • Practise acceptable social, cultural and aesthetic sensitivity towards the different role players in the economic industry by applying the appropriate theoretical principles and reflect on the application made (Cultural and aesthetic sensitivity).

• • Acquire acceptable employment seeking skills, for entry into the different sectors of the economic industry utilising the theoretical principles and reflect on the application thereof (Employment seeking skills).

Master of Commerce: Economics General Information

DOCTORAL QUALIFICATIONS

The degree of Doctor follows a Master’s degree in the field of Economics, Business Management, Public Administration and Law. A potential student should possess a applicable Master’s degree on NQF level 9. Students accessing this qualification should demonstrate their ability to originate, plan, complete and report on original scientific work independently. Students should show insight into subject discipline and the field of research. Students should be able to apply research methodology and communicate in written or oral forms on the research process, results and findings. Students should be able to reflect on research finding and applications.

The Doctoral qualification is of at least two years’ duration, the candidate works under an approved supervisor and the thesis is based on original research. The Departments must specifically approve of the field of study, the research topic, methodology and problem statement before the candidate may register. Students have to submit and defend their proposal for the thesis to a postgraduate committee. The student and the supervisor meet regularly to schedule a work programme and to set deadlines.

Purpose and Rationale of the Qualification

A relevant, problem-based, unique, original and executable topic on a highly advanced academic level within the discipline should be researched independently and reported on scientifically in the form of a thesis. The thesis would constitute a contribution to knowledge of and insight into the subject discipline as well as the field of research.

Doctor of Commerce in Economics (2PHD05)

 Doctor of Commerce (Economics): General information