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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Advanced Diploma in Economics 
SAQA QUAL ID QUALIFICATION TITLE
90502  Advanced Diploma in Economics 
ORIGINATOR
University of Johannesburg 
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
Registered-data under construction  EXCO 0324/24  2024-07-01  2027-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2028-06-30   2031-06-30  

Registered-data under construction

The qualification content is currently being updated for the qualifications with the status “Registered-data under construction” or showing “DETAILS UNDER CONSTRUCTION” to ensure compliance with SAQA’S Policy and Criteria for the registration of qualifications and part-qualifications on the National Qualifications Framework (NQF) (As amended, 2022). These qualifications are re-registered until 30 June 2027 and can legitimately be offered by the institutions to which they are registered.

 

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.  

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:
The purpose of this qualification is to provide learners with a wide range of contexts that will enable them to analyse, interpret, predict and explain the economic actions of consumers, businesses and governments. The qualification also extends learners' knowledge and understanding of current economic issues relating to South African and global economies. It provides an in-depth knowledge and understanding of concepts that underpin economic decisions made by individuals, businesses, governments and other organisations. It also gives learners an in-depth understanding of how markets are structured and why they can fail.

The contexts in this qualification are complex and challenging, particularly in terms of the application of economic concepts and theories to current economic situations. Undertaking this qualification will require a more sophisticated level of numeracy and communication skills as learners are required to interpret complex economic statistics and graphs, consider alternative economic viewpoints and present logical and reasoned arguments relating to current economic issues.

Development of research and investigative 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 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.

Rationale:
The Advanced Diploma: Economics will provide learners with the skills, knowledge and understanding needed to analyse and evaluate complex and interrelated economic issues. This Qualification encourages learners to become more open and independently minded individuals, capable of applying their economic skills to everyday life situations.

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.

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.

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.

The qualification covers a broad area of learning that allows for further progression and depth of study at a later stage, as well as allowing learning to develop in a challenging and enjoyable way. Understanding the key concepts and theories of economics and applying them in current economic contexts ensures that its relevance to learners is far-reaching. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
The learner is assumed to be familiar with economics either through his/her employment in such an environment or through the successful completion of an appropriate qualification at NQF Level 6.

Competence in Economics and Mathematics equivalent to NQF Level 6 is expected.

Access to the Qualification:
Access to the Advanced Diploma: Economics is granted to all applicants who are in possession of one of the following:
  • National Diploma in Economics.
    Or
  • Bachelor of Technology students with Economics as Major at NQF Level 6.
  • A foreign qualification that is equivalent to the National Diploma: Economics as determined by SAQA.
  • Through the Recognition of Prior Learning - when relevant.

    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 University of Johannesburg concerning the recognition of other forms of formal, informal and non-formal learning experience. Recognition takes place only where prior learning corresponds to the required NQF Level and where applied competencies are relevant to the content and outcomes of the qualification. Through RPL learners may gain access to the qualification, may have advanced status and may be credited. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    The Qualification consists of the following compulsory modules at NQF Level 7:

    Modules:
  • Microeconomics 1, 30 Credits.
  • Mathematical Economics 1, 30 Credits.
  • Macroeconomics 1, 30 Credits.
  • Macroeconomics Research 1, 30 Credits.

    Total Credits at NQF Level 7: 120. 
    		•

    EXIT LEVEL OUTCOMES 
    Upon completion of the Advanced Diploma: Economics, the qualifying Learners will be able to:
    1. Show an understanding of microeconomic theories utilised in the decision making by individual consumers and firms.
    2. Demonstrate the mathematical operations in linear algebra, optimisation, matrix algebra and integrals required in the manipulation of economic models.
    3. Apply macroeconomic theories to decision making and policy prescription.
    4. Demonstrate the ability to apply basic research methods in economics.

    Critical Cross-Field Outcomes:
    All the Critical Cross-Field Outcomes are applied in this qualification. 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • Calculate solutions correctly to utility and profit maximisation problems faced by consumers and firms.
  • Predict the pricing behaviour of firms under different market conditions.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • Differentiate functions as applied to economic problems.
  • Solve constrained optimisation problems accurately.
  • Use matrix algebra to create simultaneous equations, properly specified and solved.

    Associated Assessment Criteria for Exit Level Outcome 3:
  • Apply and correctly manipulate macroeconomic models to produce predictions of economic events.
  • Apply and correctly manipulate macroeconomic models to produce prescriptions for economic policy.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • Use spread sheet programmes to collect relevant data that are sourced and appropriately presented.
  • Write data commentaries which convey the meaning behind the data.
  • Synthesise Economic literature into an argumentative essay which is coherent and well-researched.

    Integrated Assessment:
    An integrated approach to assessment will be followed wherein formative and summative assessment will form an integral part of teaching and learning.

    Formative Assessment:
    Learners will be assessed continuously by means of assignments and tests.

    Summative Assessment:
    This comprises a final three hour examination which is representative of all the work covered in each of the following: Microeconomics, Macroeconomics and Mathematical Economics. The summative assessment in Macroeconomic Research comprises a series of written assignments, culminating in the submission of a final essay. 
    		•

    INTERNATIONAL COMPARABILITY 
    This qualification compares with the following international qualifications in terms of the range of competencies in the modules offered.

    United States of America:

    The Carey Business School of Johns Hopkins University offers Dual Diplomas in Economics and Environmental Planning and Management. These comprise the following modules which may be pursued simultaneously at both schools:

    1. Applied Economics
  • Microeconomic Theory
  • Macroeconomic Theory
  • Statistics
  • Econometrics
  • Micro econometrics
  • Macro econometrics
  • Cost Benefit Analysis
  • Environmental & Resource Economics

    2. Environmental Planning and Management
  • Credit is given for Microeconomic Theory, in lieu of Economic Foundations for Public Decision Making
  • Science courses from outside the sub-field are allowed with adviser approval.
    Sample Courses:
  • Ecology
  • Principles of Toxicology, Risk Assessment and Management
  • Climate Change and Global Environmental Sustainability
  • Air Resources Modelling and Management
  • Water Resource Planning
  • Environmental Law
  • Environmental Impact Assessment
  • Environmental Project Management
  • Environmental Policy Analysis

    United Kingdom:

    The University of Cambridge, offers a nine month Diploma in Economics at an equivalent NQF Level, which comprises the following modules:
  • Macroeconomics.
  • Microeconomics.
  • Econometrics.

    Conclusion:
    The advanced Diploma in Economics is comparable to the two qualifications cited above in terms of both content and standard. 
    		•

    ARTICULATION OPTIONS 
    This Qualification articulates horizontally with any other Advanced Diploma in a related field at NQF Level 7.

    This Qualification articulates vertically with a Bachelor of Commerce Honours Degree in Economics at NQF Level 8. 

    MODERATION OPTIONS 
    Assessment and moderation of assessment will be overseen in terms of the moderation guidelines of the institution to ensure that assessments are conducted appropriately and fairly and are a valid indication of a learner's performance.

    Moderation must include both internal and external moderation of assessments at all exit points of the qualification. 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    Assessors and moderators must:
  • Hold a qualification at least one level higher than the qualification being assessed or moderated.
  • Have more than two years' teaching experience relevant to the qualification being assessed. Assessors with less than two years' experience have their assessment work moderated by a peer. 
    		•

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2015. 

    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. University of Johannesburg 


    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.