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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Advanced Diploma in Economics 
SAQA QUAL ID QUALIFICATION TITLE
110788  Advanced Diploma in Economics 
ORIGINATOR
Tshwane University of Technology (TUT) 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Advanced Diploma  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  120  Not Applicable  NQF Level 07  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Reregistered  EXCO 0821/24  2019-08-08  2027-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2028-06-30   2031-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This qualification does not replace any other qualification and is not replaced by any other qualification. 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:
The purpose of the Advanced Diploma in Economics is to extend the learners' knowledge and understanding of current economic issues relating to South African and global economies. It will give learners an understanding of how the economy functions based on the core theories of Macroeconomics and Microeconomics as well as applied theories in Econometric, Industrial Policy, Development Economics and International Trade theory.

Development of research and investigative/analytical skills is a key focus of this qualification and this encourages learners to think independently and use their initiative, but also provides opportunities for working as a team. The qualification will strengthen the learners' understanding of economic models, issues, policies and opinions, and will develop their decision making skills by enabling them to evaluate and/or justify any economic actions taken. This qualification is therefore instrumental in developing the learners' critical thinking skills. The qualification provides knowledge and understanding of concepts that underpin economic decisions made by individuals, businesses, governments and other organisations.

In an effort to ensure uniqueness and relevance to the market, the qualification has a Research Principles in Economics module, which has also been recommended by the advisory committee. The qualification will provide learners with analytical skills, knowledge and understanding needed to analyse and evaluate complex and interrelated economic and social issues.

This qualification encourages learners to become more open and independently minded individuals capable of applying their skills to everyday life situations. The investigative and higher-order thinking skills developed throughout this qualification will give learners opportunities to contribute to team working and to working more independently. This will develop attributes such as taking responsibility and ownership, self-motivation, using initiative and communication and interpersonal skills, all of which are important for successful lifelong learning and in the world of work. Studying economics 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.

Rationale:
The qualification was conceptualised to align it with the objectives of the National Qualifications Framework (NQF) that aims to create a single integrated national framework for learning achievements. The qualification was formulated in line with the advice from the advisory committee which emphasised the need to train and equip our graduates with quantitative and analytical skills in order to address the economic and social challenges facing South Africa. Department of Economics together with the advisory committee echoing the sentiments expressed in the National Development Plan (NDP) which aim to address the main challenges facing South Africa: inequality and poverty. In order to tackle these issues, the country requires a pool of competent learners who will successfully implement the NDP agenda and objectives.

The Advanced Diploma in Economics is a vocational qualification at Level 7 of the NQF with the minimum credits of 120, offered over a period of 1-year full time, preparing learners for careers in the fields of Economics and preparing them to be financial risk/investment analysts, financial economic consultant/economic advisors/statisticians/operations research analyst/credit analyst/pricing analysts/securities traders/mortgage loan experts/business journalists. Successful graduates will also be able to work in various sectors such as government departments, financial institutions and non-governmental organisations as economists, technical, financial or economic advisers, and policy makers under minimal supervision.

The qualification will give access to and facilitate mobility and progression for learners with a Diploma in Economics or equivalent qualifications.

The qualification 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, the graduates will be in a position to enrol for a Postgraduate Diploma in Economics. Thus the qualification covers a broad area of learning that allows for further progression and depth of study at a later stage such as Postgraduate Diploma in Economics.

Upon completion of this qualification, the 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. This will be enabled by the theoretical, practical knowledge and skills that the learners would have attained during the study of this qualification. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Recognition of Prior Learning (RPL):
This qualification can be achieved in part through Recognition of Prior Learning (RPL), in terms of the policy and guidelines of the institution concerning the recognition of other forms of formal, informal and non-formal learning experience. RPL takes place only where prior learning corresponds with the required National Qualifications Framework (NQF) Level and in terms of applied competencies relevant to the content and outcomes of the qualification. Through RPL learners, may gain access to the qualification, be given advanced status and be given credits.

Entry Requirements:
The minimum entry requirement for this qualification is:
  • A National Diploma in Economics, NQF Level 6.
    Or
  • A relevant Technical qualification with Economics as major, NQF Level 6. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    This qualification consists of the following compulsory modules at National Qualifications Framework Level 7, totalling 120 Credits:

    Compulsory Modules, 120 Credits:
  • Research Principles in Economics, 12 Credits.
  • Intermediate Microeconomics, 24 Credits.
  • Intermediate Macroeconomics, 24 Credits.
  • Intermediate Econometrics, 24 Credits.
  • International Economics, 12 Credits.
  • Development Economics, 12 Credits.
  • Industrial Policy, 12 Credits. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Explain, apply and evaluate the key terms, concepts, facts, principles, rules and theories of economics to business, industries and public institution.
    2. Collect, process, interpret and apply economic data, including statistical inference relevant to business, industries and public institution.
    3. Investigate, identify, analyse, evaluate, economic and statistical data using relevant computer applications software packages to reflect on critical socio economic problems.
    4. Present, communicate and justify, decisions and actions drawing on appropriate ethical values using appropriate academic language in the field of economics.
    5. Take full responsibility for own work, decision-making and use of resources. 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • Explain, apply and evaluate tools and models of macroeconomics to address various macroeconomic policy problems associated with government finances, economic growth and economic stability.
  • Explain, apply and evaluate fundamentals of microeconomic theories and concepts useful in analysing supply, demand, market, and policy issues for the real-world situations to critically analyse the effects of alternative policy tools on market outcomes.
  • Explain, apply and evaluate the tools of development economics for improving fiscal, economic and social conditions in the working world.
  • Explain, apply and evaluate the role of domestic and international institutions and norms for shaping local and international economies.
  • Explain, apply and evaluate the models of international trade, the principle of comparative advantage and its formal expression and interpretation within different theoretical models for individual economies such as South Africa and the wider international community.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • Interpret and apply the scientific method in economics to business, industries and public institution.
  • Analyse, interpret and apply techniques and approaches for formulating and constructing data sets of economic variables are analysed, interpreted and applied for producing descriptive and inferential statistics useful in economic decision making process.
  • Review and apply skills for critical assessment of other researchers and publications in the operational research processes.

    Associated Assessment Criteria for Exit Level Outcome 3:
  • Identify, analyse and evaluate economic and statistical data using relevant computer applications software packages to reflect on critical socio economic problems.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • Present, communicate and justify economic concepts and arguments in an articulate manner for public audience.
  • Synthesise, communicate and justify arguments found in both academic and popular economic media for public consumption.
  • Present, justify and communicate useful information in economics reliably and coherently for academic and research purposes.

    Associated Assessment Criteria for Exit Level Outcome 5:
  • Justify ethical and professional decisions in resource allocation processes.
  • Evaluate, present and communicate team work and responsibility for own actions and actions of others against given criteria based on a given business assignment.

    Integrated Assessment:
    The final integrated assessment will measure applied competence. It will assess whether learners are able to recognise, identify and assess internal and external factors that influence the accounting environment (practical competence), understand the theoretical and fundamental basis of accounting principles (foundational competence) and apply accounting principles in order to make economic decisions (reflective competence).

    In order to achieve the stated Exit Level Outcomes, integrated assessment will take the form of written examinations, problem solving assignments (individual work and group work), presentations, case studies and project papers. The criteria will assess the extent to which learners can practice competently and effectively in the field of economics nationally and internationally. It will measure the extent to which all learners have integrated the performance roles, knowledge, practices and skills delivered to them as reflected in the exit outcomes. The assessment will avail opportunities for reflection on action in order to develop reflexive competencies.

    Summative assessments will consist of individual project group assignments, presentations and essays. While Formative Assessments are continuous feedback on the assignments or semester tests and class tests. 
    		•

    INTERNATIONAL COMPARABILITY 
    The Advanced Diploma in Economics compares with the following international qualifications in terms of the range of competencies in the modules offered.

    The Carey Business School of Johns Hopkins University, United States of America, offers Dual Diplomas in Economics and Finance, which comprise the following modules and which can be pursued simultaneously:
    Modules in Applied Economics:
  • Microeconomic Theory and Policy.
  • Statistics.
  • Macro Econometrics.
  • Financial Economics.
  • Applied Economics I.

    The University of Cambridge, United Kingdom, offers a Diploma in Economics; comprising the following modules:
  • Macroeconomics.
  • Microeconomics.
  • Econometrics.

    Conclusion:
    The qualification at this institution is comparable to the two qualifications cited above in terms of both content and standard. This qualification is also unique in that it has specifically been designed to meet the needs of the South African community. 
    		•

    ARTICULATION OPTIONS 
    This qualification allows possibilities for both vertical and horizontal articulation.

    Horizontal Articulation:
  • Bachelor of Commerce in Economics, NQF Level 7.

    Vertical Articulation:
  • Postgraduate Diploma in Economics, NQF Level 8.
  • Bachelor of Commerce Honours in Economics, NQF Level 8. 
    		•

    MODERATION OPTIONS 
    N/A 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    NOTES 
    N/A 

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
     
    NONE 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Tshwane University of Technology (TUT) 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.