SAQA

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
125920	Bachelor of Commerce in Economics
ORIGINATOR
Akademia NPC
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY			NQF SUB-FRAMEWORK
CHE - Council on Higher Education			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		EXCO 0940/26	2026-06-02	2029-06-02
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2030-06-02		2035-06-02

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 is to equip learners with the necessary theoretical, quantitative economic knowledge and skills to enable them to perform their duties as economists/ econometricians/ financial analyst/ managers in the private and public sectors of the economy.

The qualification aims to provide an overall understanding of the world and the inner workings of economic and financial systems. Economic statistical methods and processes are used in the interpretation of economic and financial data to estimate relationships. This is a three-year qualification that offers learners an introduction to various focal areas. The elective modules intend to prepare learners for further studies in Economics, Finance, Business Management or Accounting.

The qualification will equip learners with the necessary knowledge and skills to not only pursue post graduate or professional qualifications in these fields, but also expand their career opportunities and potential for specialisation. These professionals will be able to analyse market trends, evaluate investment opportunities, and provide valuable insights to businesses, investors, and policymakers. This makes economists valuable assets for organisations and institutions seeking to understand and navigate complex economic environments.

In the first year of the qualification, learners are provided with a grounding and basic understanding of theories and concepts in microeconomics and macroeconomics, as well as general BCom elective foundational modules.

The second year provides an intermediate focus on economic theory, supportive economic modules, and statistical methods, combined with electives. Economic supportive modules consist of History of Economic Thought, which provides a basis for the different schools of economic thought used in third year macroeconomics. The module Econometrics serves as the basis for understanding and interpreting statistical economic and financial data, which equips learners with the critical skills required to analyse, interpret, understand and forecast economic datasets.

In the third year of the qualification, learners will gain a more advanced understanding of economic policy making and analysis, where learners apply the knowledge from the first and second year to practical economic and financial scenarios. At third-year level, learners narrow their focus to core modules, namely International Trade, Financial Economics, Monetary Economics and Econometrics. Econometrics is compulsory for second- and third year BCom (Economics) learners. The electives provide learners with options to specialise in any of the three focal areas, namely Finance, Business Management or Accounting.

Upon completion of the qualification, qualifying learners will be able to:

Demonstrate a comprehensive understanding of key concepts, theories, and principles in the field of Economics.

Demonstrate an integrated knowledge of areas of specialisation in the focal areas of Finance, Business Management, and Accounting, and how each field relates to the discipline of Economics.

Apply critical thinking skills to analyse and evaluate complex economic problems, business strategies, economic systems, and models.

Conduct independent research using appropriate methodologies, gather relevant data, and apply economic theories to analyse and solve real-world problems.

Communicate effectively and professionally, both orally and in writing, to present economic analysis, business reports, policy recommendations, and models to diverse audiences.

Rationale:
South Africa, as an emerging market economy, requires professionals who possess a comprehensive understanding of the world and the inner workings of economic and financial systems to navigate and contribute to the country's economic development.

By offering this qualification the institution will nurture a pool of skilled professionals who will formulate and implement effective economic policies, equipping individuals with the knowledge and analytical skills necessary to understand complex economic concepts and develop evidence-based policies. This qualification will emphasise the use of statistical methods through the study of Econometrics to analyse economic and financial data, enabling learners to estimate relationships and make informed decisions in various sectors. An analytical skillset is crucial in a data-driven world, where evidence-based decision-making is essential for economic policy formulation, financial analysis, and market forecasting.

The qualification serves as a solid foundation for learners who wish to pursue further studies in Economics, Finance, Business Management, or Accounting. Qualifying learners could further their studies in Post graduate Diplomas, BCom Honours in Economics, Econometrics, Financial Accounting, Investment Management or Business Management, depending on the electives selected up to the final year and specific entry requirements of relevant post graduate qualifications.

This qualification enables qualifying learners to contribute to the economic development of South Africa. Their ability to understand and analyse economic systems, financial markets, and interrelationships thereof will empower them to propose strategies, solutions, and policy recommendations that can foster sustainable growth and address socio-economic challenges.

In terms of employment opportunities, the qualifying learners, commonly referred to as economists, will have a wide range of opportunities in diverse sectors in South Africa. They can find employment in government institutions, the central bank, private and commercial banks, corporations, or consultancies, both locally and internationally. These positions include analysts, consultants, researchers, brokers, and academics.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

Recognition of Prior Learning (RPL):
One of the objectives of the National Qualifications Framework (NQF) is to facilitate access to and mobility and progression within learning and career paths. This includes moving from one qualification or institution to another or re-entering a learning path. Recognition of prior learning (RPL) and credit accumulation and transfer are ways of achieving this.

The institution recognises that it may receive applications from learners studying towards other qualifications who wish to change qualification or institution or who are working in the industry, have accumulated appropriate academic credits and/or work experience, and wish to study further. However, the prior learning or experience for which they wish to receive recognition and/or credit must be assessed in a formal and credible way. The institution's Recognition of Prior Learning and Credit Accumulation and Transfer Policy (2021) addresses this requirement of formal assessment.

PRL for access:

RPL allows access to further study by granting the status, but not the award, of the prerequisite qualification.

The institution does not accept any form of RPL assessment undertaken by any other institution.

Any RPL granted is valid only for the period specified by the academic department.

Admission based on RPL, is subject to the rules and regulations of the institution.

RPL is qualification-specific; recognition is given only for learning that is aligned to the learning outcomes and assessment criteria of a specific qualification or module, and not primarily the content.

Applicants are exposed to a formal RPL process that usually involves a lengthy process, it is not a single event.

The applicant must provide evidence (e.g. portfolios, challenge examinations, etc.) that must be assessed as relevant, sufficient, authentic and current.

Quality assurance processes guarantee the integrity and credibility of all aspects of the RPL process.

If the applicant is not satisfied with the outcome of any stage of the RPL process, s/he can appeal to the Senate.

Once registered for a qualification, the applicant becomes a member of the student body and is subject to all academic rules and regulations.

RPL for credits:
Recognition of prior learning will be applied on an individual basis against the relevant exit-level outcomes of the qualification on a case-by-case basis and will be conducted in accordance with the institution's RPL Policy and HEQC guidelines. Status will be awarded in line with credits as they pertain to the relevant outcomes of the qualification.

The management and administration of the Programme's Recognition of Prior Learning (RPL) process functions within the information management framework. The teaching and learning model of the Programme is in alignment with the institution's RPL Policy and HEQC guidelines. RPL allows individuals with relevant prior learning and experience to demonstrate their proficiency against the specific exit-level outcomes of the qualification. Within the programme's teaching and learning framework, RPL candidates undergo a thorough assessment process on a case-by-case basis. This assessment evaluates their knowledge, skills, and competencies against the relevant exit-level outcomes of the BCom (Economics). The assessment is conducted by qualified assessors who are knowledgeable in the field of economics and adhere to established assessment criteria.

Upon successful completion of the RPL assessment, candidates are awarded status and credits in line with the specific exit-level outcomes they have demonstrated proficiency in. This recognition acknowledges the value of their prior learning and experience and enables them to progress within the qualification or pursue further academic and professional opportunities in the field of economics.

This qualification is structured in such a way to facilitate possible recognition from other institutions with similar qualifications, allowing for articulation with similar qualifications or access to higher level qualifications as well as the possibility of entering the qualification through Recognition of Prior Learning.

Entry Requirements:

National Senior Certificate, NQF Level 4, granting access to bachelor's degree studies.
Or

National Certificate (Vocational), NQF Level 4, granting access to bachelor's degree studies.
Or

Senior Certificate, NQF Level 4 with endorsement.

RECOGNISE PREVIOUS LEARNING?

QUALIFICATION RULES

This qualification consists of the following compulsory and elective modules at National Qualifications Framework, Levels 5, 6 and 7 totalling 375 Credits.

Compulsory Modules, NQF Level 5, 120 Credits:

Economics 100, 20 Credits.

Statistics, 20 Credits.

Business Management 100, 20 Credits.

Financial Accounting 100, 20 Credits.

Financial and Investment Management 100, 25 Credits.

Commercial Law, 15 Credits.

Compulsory Modules, NQF Level 6, 80 Credits:

Econometrics 201 (Statistics), 10 Credits.

Econometrics 202 (Modelling), 10 Credits.

Economics 201(Micro), 10 Credits.

Economics 202 (Macro), 10 Credits.

History of Economic Thought, 10 Credits.

Economic Analytics, 10 Credits.

Monetary, 10 Credits.

Financial Economics 200, 10 Credits.

Elective Modules, NQF Level 6 (Select two), 40 Credits:

Financial Accounting 200*, 20 Credits.

Business Management 200, 20 Credits.

Investment Management 200, 20 Credits.

Financial Management 100, 20 Credits.

Compulsory Modules, NQF Level 7, 105 Credits:

Econometrics 301 (Mathematics), 15 Credits.

Econometrics 302 (Time Series), 15 Credits.

Development Economics, 30 Credits.

International Trade, 30 Credits.

Financial Economics 300, 15 Credits.

Elective Modules, NQF Level 7 (Select one), 30 Credits:

Financial Accounting 300, 30 Credits.

Business Management 300, 30 Credits.

Investment Management 300, 30 Credits.

Financial Management 200, 30 Credits.

EXIT LEVEL OUTCOMES

1. Demonstrate a comprehensive understanding of key concepts, theories, and principles in the field of Economics.
2. Demonstrate an integrated knowledge of areas of specialisation in the focal areas of Finance.
3. Critically evaluate the relationship between Business Management, Accounting, and Economics, and analyse how economic principles inform business decision-making, financial management practices, and organisational performance within diverse economic contexts.
4. Apply critical thinking skills to analyse and evaluate complex economic problems, business strategies, economic systems, and models.
5. Conduct independent research using appropriate methodologies, gather relevant data, and apply economic theories to analyse and solve real-world problems.
6. Communicate effectively and professionally, both orally and in writing, to present economic analysis, business reports, policy recommendations, and models to diverse audiences.
7. Apply and justify ethical and professional standards in the field of economics, finance, and business, demonstrating awareness of the business, socio political, cultural, and environmental impacts of economic decisions.
8. Collaborate effectively in interdisciplinary teams, demonstrating leadership skills, effective communication, and an understanding of diverse perspectives to achieve common goals.
9. Demonstrate proficiency in using quantitative tools and techniques to analyse economic statistical data, financial statements and make informed decisions based on the results.
10. Apply knowledge of economic principles, policy analysis, and models to contribute to the development and implementation of effective business strategies, economic policies, and investment decisions.
11. Demonstrate the ability to identify, evaluate and address his/her own learning needs and take accountability and responsibility for his/her own work through self-directed learning.

ASSOCIATED ASSESSMENT CRITERIA

Associated Assessment Criteria for Exit Level Outcome 1:

Interpret and explain key concepts, theories, and principles in Economics and supportive economic modules.

Implement statistical and mathematical techniques through the study of Econometrics by using statistical software for economic analysis.

Associated Assessment Criteria for Exit Level Outcome 2:

Interpret and explain key concepts, theories, and principles in the focal areas of Finance, Business Management, and Accounting in relation to Economics.

Analyse and solve complex economic problems, business strategies, and economic systems.

Associated Assessment Criteria for Exit Level Outcome 3:

Critically evaluate economic theories, policy implications, and business strategies.

Analyse and interpret data using appropriate economic methods.

Identify and evaluate the strengths and weaknesses of economic arguments and policy recommendations.

Associated Assessment Criteria for Exit Level Outcome 4:

Locate, extract and clean data from primary or secondary sources, such as government databases, industry reports, academic journals, case studies or surveys. for further analysis.

Apply appropriate analysis techniques (economic, econometric models and other analytical frameworks) to a case study or other data to determine the key economic relationships, test hypotheses and draw valid conclusions.

Identify and define real-world economic problems based on the analysis, propose appropriate solutions, and evaluate the potential impacts of those solutions.

Associated Assessment Criteria for Exit Level Outcome 5:

Communicate economic concepts, analysis, and findings effectively through oral presentations and written reports.

Demonstrate proficiency in academic writing, including clarity, organisation, and proper referencing.

Effectively communicate economic concepts and analysis to both specialist and non-specialist audiences.

Associated Assessment Criteria for Exit Level Outcome 6:

Apply ethical principles in conducting economic research, analysis, and decision-making.

Predict the impact on economic decisions by extrapolating from the business, socio political, cultural, and physical environments.

Display professionalism in interactions with colleagues, stakeholders, and clients.

Associated Assessment Criteria for Exit Level Outcome 7:

Work effectively as part of interdisciplinary teams to solve complex economic problems.

Demonstrate leadership skills, effective communication, and the ability to manage conflicts within a team.

Contribute constructively to team discussions and decision-making processes.

Associated Assessment Criteria for Exit Level Outcome 8:

Apply quantitative tools and techniques to analyse economic data and financial statements.

Use statistical software and modelling tools proficiently.

Interpret and draw valid conclusions from quantitative results.

Associated Assessment Criteria for Exit Level Outcome 9:

Apply economic principles, policy analysis, and models to develop effective business strategies, economic policies, and investment decisions.

Identify and assess the economic implications of different business and policy scenarios.

Provide informed recommendations based on an economic analysis.

Associated Assessment Criteria for Exit Level Outcome 10:

Reflect critically on personal learning and address own learning needs.

Stay informed about current developments in economics and related disciplines.

Utilise feedback from instructors, peers, and self-assessment to improve learning strategies and outcomes.

Integrated Assessment:
The qualification will be offered in both contact and distance modes of delivery.

The assessment strategy for this qualification is designed to hold parity of esteem across the modes of delivery and comprehensively evaluate the achievement of outcomes across the curriculum at various levels of the programme.

Assessment for the contact mode of delivery will be structured to align with the specific dynamics and interactions inherent in face-to-face teaching and learning. This may include assessments that are more conducive to in-person engagement, such as group presentations, class discussions, or practical demonstrations.

Formative Assessment:
The assessment for the distance mode of delivery will be designed with consideration for the unique challenges and opportunities presented by remote learning environments. This may involve assessments that can be completed independently, such as:

Written assignments.

Online quizzes.

Virtual simulations which will include discussions, presentations and demonstrations.

Formative assessments in the contact mode may emphasise in-class participation, feedback from instructors, and peer collaboration, while formative assessments in the distance mode may prioritise self-directed learning activities, online discussions, and feedback through digital platforms. Formative assessments will also include tests tailored to each module, administered throughout the academic year. These tests will be designed to assess learners' understanding and application of course content, providing ongoing feedback to support their learning journey.

Summative Assessment:
Despite the differences in the delivery modes, both contact and distance modes will ultimately lead to the same summative assessments. This ensures that all learners, regardless of their mode of study, are evaluated against the same standards and learning outcomes.
The qualification emphasises critical engagement with information, the development of research capability, and intellectual independence, reflected in the assessment strategy.

Summative assessments will be standardised across both modes of delivery, ensuring consistency and comparability of assessment outcomes.
They will comprise a combination of assessment tools that require advanced cognitive demands, such as:

Individual and group mini projects.

Review of research articles.

Assignments involving desk research.
Learners will present their work both orally in seminars and in writing, with both formats being assessed.

Overall, the alignment between learning outcomes and assessment methods is detailed in the module outlines provided. Formative assessment, comprising tests and assignments, will contribute to the class record, forming 60% of the final module mark. The remaining 40% will be derived from a standardised summative module examination, ensuring fairness and equity across the programme.

In summary, while the modes of delivery may vary in terms of instructional methods and formative assessment approaches, the summative assessment will remain consistent across both modes to ensure parity and fairness in evaluation. The qualification strategy is aligned through the integration of engaging activities supported by online provisioning and the utilisation of the Learning Management System (LMS), Moodle. By leveraging Moodle as a central platform, the programme ensures seamless access to course materials, interactive content, and assessment tools for both learners and instructors.

The assessment strategy is designed to comprehensively evaluate the achievement of outcomes across the curriculum at various levels of the programme, specifically targeting NQF Levels 5, 6, and 7.

As indicated earlier, formative assessments will provide ongoing feedback to learners to support their learning and development. Summative assessments will be aligned with the intended qualification outcomes and designed to measure the achievement of these outcomes across all levels of the qualification.

By employing a comprehensive assessment strategy that incorporates elements such as alignment with learning outcomes, progressive learning practices and regular feedback, the programme will ensure proper guidance in learner achievement across the curriculum and at various levels of the qualification, ultimately supporting the attainment of learning outcomes and academic success.

INTERNATIONAL COMPARABILITY

The international comparability of the Bachelor of Commerce in Economics can be illustrated through its alignment with similar qualifications from Australia, and the United States of America.

Country: Australia.
Institution name: University of New South Wales (Sydney).
Qualification title: Bachelor of Economics.
Qualification Level: Australian Qualifications Framework (AQF) Level 7.
Duration: 3 years.

Entry requirements:

Learners must complete 96 UOC of the following to satisfy the core requirements of this programme.

Purpose/Rationale:
This three-year degree develops your ability to analyse, evaluate and forecast complex economic and social trends using quantitative methods, data analysis and economic modelling. Learners will study key areas such as microeconomics, macroeconomics, econometrics and behavioural economics, building the skills to interpret data and apply insights to public policy, business strategy and global issues.

In addition to more traditional economic issues like unemployment, taxation and trade policy, economics allows you to understand and address global societal challenges like inequality, climate change, corruption, political polarisation and impediments to education and health care. Learners also learn how to address key business issues such as competition and market strategy, pricing, innovation, risk, management and understanding consumer behaviour.

Qualifying learners' distinct insights can be applied very broadly. Learners will gain highly transferable analytical and problem-solving skills that are valuable in a wide and highly diverse range of careers. Potential career paths span economic consulting, financial markets, policy advisory, business analytics, strategy and operations roles in major firms, and policy positions in central banks and government agencies.

Similarities:

The South African (SA) and the University of New South Wales (UNSW) qualifications share a common foundation in exploring the influential social science of Economics.

Both qualifications delve into human behaviour and decision-making, emphasising the roles of incentives, resource constraints, laws, customs, and institutions in shaping economic outcomes.

Both qualifications offer learners the opportunity to develop analytical skills and insights that are invaluable in navigating the complexities of the modern economic landscape.

Country: United States of America.
Institution name: Browns University.
Qualification title: Bachelor Major in Economics.
Credits: 412-416.
Qualification Level: AP, IB, or A-level.
Duration: 3 years.

Purpose/Rationale:
The qualification is designed to equip learners with a broad understanding of business skills while focusing on essential economic concepts. Learners will be able to articulate essential theories of the market, understand economic growth and business cycles, explain the effects of related public policies, and use data effectively.

Similarities:

The South African (SA) and the Browns University (BU) qualification share a common foundation in the study of Economics, focusing on how individuals, businesses, and governments allocate resources to achieve their objectives.

Both qualifications provide learners with a comprehensive understanding of markets, firms, financial organisations, and public debates about economic policy.

Both qualifications offer opportunities for further specialisation, career development, and contributions to economic discourse and policymaking.

Conclusion:
The South African Bachelor of Commerce in Economics is comparable to the qualifications offered in Australia and the United States in terms of its level, duration, purpose, and similar content. These qualifications share a common objective of developing learners with a sound foundation in economic theory and analysis, complemented by broad business and management knowledge. Furthermore, all three qualifications prepare learners for further academic specialisation, enhanced career opportunities, and meaningful participation in economic analysis, policy development, and decision-making within diverse organisational and societal contexts.

ARTICULATION OPTIONS

This qualification provides the following articulation options:

Horizontal Articulation:

Bachelor of Commerce in Economics, NQF Level 7.

Advanced Diploma in Economics, NQF Level 7.

Advanced Occupational Diploma: Business Banker, NQF Level 7.

Vertical Articulation:

Bachelor of Commerce Honours in Economics, NQF Level 8.

Postgraduate Diploma in Economics,NQF Level 8.

Diagonal Articulation:

Advanced Occupational Certificate: Business Intelligence Analyst, NQF Level 6.

MODERATION OPTIONS

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.	Akademia NPC