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. |
SOUTH AFRICAN QUALIFICATIONS AUTHORITY |
REGISTERED QUALIFICATION: |
Bachelor of Commerce in Economics |
SAQA QUAL ID | QUALIFICATION TITLE | |||
118906 | Bachelor of Commerce in Economics | |||
ORIGINATOR | ||||
Sol Plaatje University | ||||
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY | NQF SUB-FRAMEWORK | |||
- | HEQSF - Higher Education Qualifications Sub-framework | |||
QUALIFICATION TYPE | FIELD | SUBFIELD | ||
National First Degree | Field 03 - Business, Commerce and Management Studies | Finance, Economics and Accounting | ||
ABET BAND | MINIMUM CREDITS | PRE-2009 NQF LEVEL | NQF LEVEL | QUAL CLASS |
Undefined | 360 | Not Applicable | NQF Level 07 | Regular-Provider-ELOAC |
REGISTRATION STATUS | SAQA DECISION NUMBER | REGISTRATION START DATE | REGISTRATION END DATE | |
Registered | SAQA 004/22 | 2022-02-03 | 2025-02-03 | |
LAST DATE FOR ENROLMENT | LAST DATE FOR ACHIEVEMENT | |||
2026-02-03 | 2031-02-03 |
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 Bachelor of Commerce in Economics will be to provide learners with an opportunity to develop the attributes that align with the appropriate NQF level. The learners are equipped with deep discipline knowledge, the skills honed are highly transferable, rigorous and in keeping with the generic competences commensurate with outcomes at NQF Level 7. The qualification also aims to equip learners with the necessary knowledge and ability to: Upon completion of this qualification< qualifying learners will be able to: Rationale: The choice of a Bachelor of Commerce in Economics specialisation has been identified in the Academic Plan 2020-2024 as one of the earmarked qualifications to be developed and implemented within the next five years. The most important policy priorities that guided the development of the qualification structure in this respect include the University's Academic Plan: 2020 to 2024, which among other things has adopted an approach to qualification development of being modest in range but ambitious in depth. In order to give effect to this approach, the qualification structure has a first year that is 90% generic and a specialised second and third year. Economics studies the behaviours that influence income, wealth, and well-being. Economists therefore seek to explain how economies work and how economic agents interact. Economics distinguishes between microeconomics ("small" economics), which examines the economic behaviour of agents (including individuals and firms) and macroeconomics ("big" or aggregate economics), addressing issues of unemployment, inflation, monetary and fiscal policy. The study of economics requires good understanding of how resources are used and how economic entities behave and interact. This encompasses both static (dealing with, for example, levels of output, employment, income, and trade) and dynamic (concerned with, for example, innovation, technical progress, economic growth and the distribution of income, business cycles, financial stability and instability, and sustainable development) dimensions. This contestation necessitates that studying the economic phenomena takes into cognisance relevant environmental, international, institutional, business, and social contexts and indeed those explanations and interpretations are evidence-based, using relevant quantitative and qualitative data analysis. In similar vein, while the modern-day economist might predominantly use the scientific method it does not mean the discipline is free from value judgment and this highlights the distinction between positive and normative economics. This has an important implication that economics is often studied not exclusively but in combination with other fields and disciplines. Another dimension of the qualification rationale speaks to broader policy thrusts and stakeholder needs. Strategically, besides the institutional level, there are at least three levels of commitments relevant to the qualification planning process that needed to be taken into consideration: the supranational level (global, continental, and regional), and the national level. At the supranational level, the United Nations 2030 Agenda, also known as the Sustainable Development Goals (SDGs), replaced the 2015 Millennium Development Goals. The SDGs are a set of global goals that address urgent global economic, environmental, and political challenges to be achieved simultaneously by 2030. At the continental level, the African Union Commission (AUC)'s Agenda 2063 has been facilitating the implementation of the continental development transformation agenda. Nationally, the National Development Plan (NDP) guides South Africa's 2030 developmental agenda while at the provincial level government is preparing to launch the Provincial Growth and Development Plan (PGDP) 2040. Developing human capacity has become a global, regional, and national imperative, as espoused respectively in these strategies. This qualification will specifically support the strategies by focusing teaching and research efforts on work related to contributing towards development of a skilled and capable workforce to support inclusive economic growth, employment and other outcomes associated with indicators of global competitiveness. Other outcomes where economic analysis by virtue of its cutting across all aspects of human wellbeing, clearly has a contribution to make, include those on rural development and food security, human settlements, and quality of household life, governance, and service delivery as well as protection of environmental assets and natural resources. Learners will develop skills in understanding complex arguments, analysis of practical issues and of data, and effective communication. Such skills are valuable in many careers, but particularly in professional, financial, developmental, educational, and managerial occupations. Qualifying learners will go on to professional training in chartered accountancy, actuarial work, and similar fields. Others are employed by financial institutions, or as professional economists in industry, government, and management consultancy. The labour market realities qualifying learners are likely to find themselves working in the public sector, financial sector, Non-Government Organisations, natural and/or agriculture sector, the latter because the country, similar to the African continent is predominantly a rural province with an important natural resource base. Recognition of these focal areas and the increasing deepening of what has been dubbed the Fourth Industrial Revolution (4IR) has influenced our design of a training that equips graduates able to work as Economists, researchers, analysts, forecasters, economic programmers, managers, entrepreneurs, and consultants. |
LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING |
Recognition of Prior Learning (RPL):
RPL is applicable to the qualification and is applied in terms of the general RPL policy of the institution, University Policy on Recognition of Prior Learning (RPL) of 2014. Gaining Access: RPL for credits: Credit is granted for RPL when in the assessment of the institution's selection committee, the learner's knowledge and skills correspond to the learning outcomes of the qualification or specific module for which credit is applied. RPL for module exemption: Entry Requirements: The minimum entry requirement for this qualification is: Or Or Or |
RECOGNISE PREVIOUS LEARNING? |
Y |
QUALIFICATION RULES |
This qualification consists of the following compulsory modules at National Qualifications Framework Level 5, 6 and 7 totalling 384 Credits.
Compulsory Modules, Level 5,152 Credits: Compulsory Modules, Level 6,72 Credits: Compulsory Modules, Level 7,160 Credits: |
EXIT LEVEL OUTCOMES |
1.Demonstrate an integrated and critical understanding of the different theories, concept and principles of microeconomics, macroeconomics, development economics, public economics, monetary economics, environmental and resource economics and be able to choose an appropriate method (verbal, graphical, mathematical and/or econometric) to understand and quantify the empirical relationships.
2. Demonstrate an understanding that economics is a contested discipline and the knowledge of different methods of analysis that have been and are used by economists and the ability to evaluate types of knowledge and explanations typical within the area of study or practice. 3. Demonstrate the ability to develop and communicate verbal, graphical, mathematical, and econometric representation of economic ideas and analysis, including the relationship between them in well-formed arguments, using appropriate academic, professional, or occupational discourse. 4. Demonstrate the ability to identify, analyse, evaluate, critically reflect on and address complex problems, applying evidence-based solutions and theory-driven arguments. 5. Demonstrate the ability to take decisions and act ethically and professionally, and the ability to justify those decisions and actions drawing on appropriate ethical values and approaches within a wider social, political, and environmental issues and integrity in the application of economic tools and applied policy. 6. Demonstrate the ability to develop appropriate processes of information gathering for a given context or use; and the ability to independently validate the sources of information and evaluate and manage the information. 7. Demonstrate the ability to develop and communicate own ideas and opinions in well-formed arguments, using using the knowledge and skills of an economist. 8. Demonstrate the ability to manage economic systems and processes in unfamiliar and variable contexts, recognising that problem solving is context and system bound, and does not occur in isolation. 9. Plan, execute, work effectively both independently, as part of a team to identify, analyse, and solve assigned economic problems. 10. Demonstrate the ability to take full responsibility for own work, decision-making and use of resources, and limited accountability for the decisions and actions of others in varied or ill-defined contexts. |
ASSOCIATED ASSESSMENT CRITERIA |
Associated Assessment Criteria for Exit Level Outcome 1:
Associated Assessment Criteria for Exit Level Outcome 2: Associated Assessment Criteria for Exit Level Outcome 3: Associated Assessment Criteria for Exit Level Outcome 4: Associated Assessment Criteria for Exit Level Outcome 5: Associated Assessment Criteria for Exit Level Outcome 6: Associated Assessment Criteria for Exit Level Outcome 7: Associated Assessment Criteria for Exit Level Outcome 8: Associated Assessment Criteria for Exit Level Outcome 9: Associated Assessment Criteria for Exit Level Outcome 10: |
INTERNATIONAL COMPARABILITY |
While the comparison levels used to come up with a degree design in this document are for a Bachelor of Commerce in Economics, the institution found other experiences such as those offering BA's and BSc degrees in Economics quite useful and instructive.
Internationally, the institution looked at selected institutions in Africa, United Kingdom (UK), Canada, India, Pakistan, New Zealand, and Australia. Australia, India, New Zealand, and Pakistan offer Bachelor of Commerce degrees. Australia (Universities of Melbourne, Adelaide, and Curtin) and New Zealand have the same format of a Bachelor of Commerce and Honours with the same National Qualification Framework (NQF) levels as South Africa. Others are less comparable as they offer qualifications with different names and some like the African (e.g., University of Zimbabwe), Canadian and UK universities offer honours as first exit level at undergraduate. Country: United Kingdom (UK) Institution: University of Cambridge Qualification Title: Bachelor of Arts in Economics Comparison: Both the University of Cambridge and the South African qualifications are comparable in the following aspects. Duration: Three years full time Entry requirements: The qualification requires English and Mathematics for admission, and includes Micro and Macroeconomics, with numerous electives on Economics subjects selected as per the learner's interest. Purpose/Rationale Both the University of Cambridge and the South African qualifications develop skills in understanding complex arguments, analysis of practical issues and of data, and effective communication. Such skills are valuable in many careers, but particularly in professional, financial, and managerial occupations. They also provide an advantageous foundation for numerous Masters degree courses. Many graduates go on to professional training in chartered accountancy, actuarial work, and similar fields. Others are employed by financial institutions, or as professional economists in industry, government, and management consultancy. Qualification structure: Both the University of Cambridge and the South African qualifications share the following similar compulsory modules: Year One: This consists of five compulsory papers: Year Two: 2 Part IIA consists of three compulsory papers: Elective Modules (Learners also take one optional paper chosen from the following): Year Three In the final year there are following two compulsory papers: In addition, learners take two optional papers and write a compulsory dissertation of 7,500 words. While the optional papers available vary from year to year, an example from academic year 2020 includes: Assessment: Assessment is mainly through formal written examinations that take place at the end of each year and the compulsory dissertation Similarities: Another important noticeable aspect is that similar to international institutions, modules' combination appears to converge towards one direction for almost all institutions. At the first-year level, all modules are usually generic. Presumably this is to give learners a foundational knowledge in other related areas and an option to branch to other non-economic fields after the first year. Common modules at first year level are Introductory Microeconomics and Macroeconomics, Accounting, Business Law, Introductory Mathematics, (Business) Statistics and Business Management. At second year level, most of the courses offer a more advanced treatment of the first year modules, while introducing other specialised economics modules. They also strengthen the quantitative aspects of the degree with modules such as advanced statistics and econometrics. The Economics Degree usually falls within either the Faculty of Commerce or Faculty of Social Studies. Without exception, the core subjects studied on virtually all economics degrees is the same. These include first-year modules in microeconomics and macroeconomics, either where these are taught separately or as a combined module, first-year quantitative methods (statistics and mathematics), intermediate microeconomics and intermediate macroeconomics, econometrics at final year and advanced microeconomics and advanced macroeconomics. For most international institutions assessed, econometrics is a compulsory module but, in a few institutions, it is an elective. In Australia, the Economics major often sits within the Bachelor of Commerce degree but can also be studied as part of a Science and Commerce double degree. Other recommended double majors across the institutions are Finance, International Business, Management and Marketing. Learners can also pursue a major in Economics through the Bachelor of Arts degree but in all cases are required to meet the mathematics prerequisites of the Bachelor of Commerce. Differences: United Kingdom institutions have four-year degrees and largely go by the nomenclature Bachelor of Science and Bachelor of Arts, which is also quite common in African institutions. Despite these differences, the international experience is quite instructive. Some of the institutions offer several electives learners can choose from depending on what direction learners want to follow. At third year level, learners can do more specialised modules such as agricultural, public, financial, international and monetary economics. Country: Australia Institution: University of Melbourne Qualification title: As a social science, the Economics major can be studied in either the Bachelor of Arts or the Bachelor of Commerce. Duration: Three years Entry requirements: Entry score 2022: 94.00 Admission is guaranteed to international learners holding this qualification who achieve this score. Learners must also satisfy prerequisites and English language requirements, and places must be available in the course at the time of acceptance. Similarities: Both the University of Melbourne and the South African qualifications compare favourably with the three-year full-time of study. Both qualifications consist of core modules focussing on accounting, business management, quantitative modelling, finance, marketing, and business communication. The major subject of economics broaches topics including macroeconomics, microeconomics, and international economics, which compares well with the local BCom in Economics with its similar focus on accounting, business management, communication, and economics. Conclusion: The comparative analysis shows that this Bachelor of Commerce in Economics compares well to those offered around the world particularly in terms of the knowledge and generic skills the graduates would have. |
ARTICULATION OPTIONS |
This qualification allows possibilities for both vertical and horizontal articulation.
Horizontal Articulation: Vertical Articulation: |
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. |
NONE |
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. |