SAQA

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SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED QUALIFICATION THAT HAS PASSED THE END DATE:

Bachelor of Commerce in Economic Sciences

SAQA QUAL ID	QUALIFICATION TITLE
91997	Bachelor of Commerce in Economic Sciences
ORIGINATOR
North West University
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		Generic Management
ABET BAND	MINIMUM CREDITS	PRE-2009 NQF LEVEL	NQF LEVEL	QUAL CLASS
Undefined	368	Not Applicable	NQF Level 07	Regular-Provider-ELOAC
REGISTRATION STATUS		SAQA DECISION NUMBER	REGISTRATION START DATE	REGISTRATION END DATE
Passed the End Date - Status was "Reregistered"		EXCO 0417/23	2018-07-01	2018-12-31
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2019-12-31		2024-12-31

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 is replaced by:

Qual ID	Qualification Title	Pre-2009 NQF Level	NQF Level	Min Credits	Replacement Status
111438	Bachelor of Commerce in Economic Sciences	Not Applicable	NQF Level 07	360	Complete

PURPOSE AND RATIONALE OF THE QUALIFICATION

Purpose:
The purpose of the qualification is to empower learners to make a contribution to economic growth and development in South Africa, specifically through the agricultural sector. In a developing economy such as South Africa, the importance of a viable and efficient agricultural sector cannot be overstated. The indirect contribution of the agricultural sector forms an integral part in a healthy growing economy. Furthermore, agriculture forms the backbone of the fight against food insecurity and poverty, especially in the rural regions.

This qualification combines traditional Agricultural Economics modules with specialised education in Risk Management. The Risk Management modules will provide learners with a general introduction to risk management, corporate governance with both a theoretical and application angle towards a risk management process in order to identify, evaluate, control and manage risks accordingly in different circumstances. Furthermore, the qualification will equip learners with the necessary skills to evaluate investments by means of technical and fundamental analysis and to implement an investment management process. Learners will also be familiarised with the working of financial markets and the practical application of derivatives as tools to manage risks. Given the high volatility in commodity markets and especially agricultural commodity markets, learners will be able to identify risks in their agricultural environment, evaluate agricultural investments and be able to hedge against unforeseen risks. All of these factors ensure a sustainable financial agricultural sector. Integrating sustainability in a strategic and coherent manner will give rise to greater opportunities, efficiencies, and benefits, for both the agricultural financial sector and society.

The learner will be educated to have a critical understanding of the different approaches and tools applied in agricultural economics and risk management. In particular, the learner will have knowledge of the theory underpinning these approaches and tools, as well as practical skills in applying the methods. The learner will learn skills to identify, apply, and review risk management methods, in the context of agricultural economics, for complex and real world problems effectively and with the necessary responsibility, communicate research results to specialist and non-specialist audiences, using relevant IT.

Rationale:
The rationale for the qualification is to add value to more traditional Agricultural Economics training through a focus on the risk management aspects of agri-business, financial and derivatives markets. Risk Management is already an essential part of the fields of Agricultural Economics and a learner specialising in Agricultural Economics and Risk Management would possibly have more employment opportunities. Moreover, the qualification also links to the broader fields of Economics and International Trade, providing an essential background to the broader role of agriculture in the South African economy.

This qualification combines a broad Economic Sciences background with the focus on agriculture and risk management. The qualification will provide prospective young farmers and/or prospective Agri-business employees with risk management and general economic knowledge and skills that would give them a unique competitive advantage as to understand the economic and risk management challenges of specifically the agriculture sector and markets. Instead of only focusing on physical agricultural issues like pasture or soil management with an agricultural economic and resource economics segment, this particular qualification will focus on the financial, risk management and economic challenges in the agricultural sector. Most farmers know how to analyse their soil conditions and how to effectively raise crop or livestock, but still may not be prosperous since they are not familiar with marketing strategies, the working and functioning of financial markets and the general inner working of an economic system. Thus, this qualification aims to provide the learner with a better and wider knowledge base to either seek work or study further.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

Recognition of Prior Learning (RPL):
The policy for the Recognition of Prior Learning for this qualification is aligned with that of the University. The University accepts that the recognition of previous learning does and should take place within the normal, existing policy of admission, as well as the granting of credits to prospective or existing learners - from this or another institution - in a valid, creditable and reasonable way.

A learner, who cannot provide formal proof of compliance with the prescribed admission requirements for this specific qualification, but with prior learning and relevant work experience, may be admitted to the Bachelor of Commerce in Economic Science studies after the procedure for recognition of prior learning in terms of the University's RPL policy has been completed successfully. The procedure for such recognition may, within the sole discretion of the University, include compliance with one or more of the following requirements:

Specific results in a set of admission tests.

Production of proof of alleged skills.

Successful interviews.
and/or

The achievement of specific outcomes in an approved curriculum at this or any other educational institution indicated for this purpose. Credit for any module for which a learner receives recognition, will be granted in accordance with the faculty rules in respect of the appropriate curriculum.

Access to the Qualification:
Learners must have completed a National Senior Certificate or a National Certificate (Vocational) that meets the requirements for entry to degree study. Learners in possession of matriculation results from foreign educational systems must meet the requirements for admission to degree study as determined by the Joint Matriculation Board. An APS score of 24 is needed and the learner must have obtained at least (50-59%) for Mathematics at NQF Level 4.

RECOGNISE PREVIOUS LEARNING?

QUALIFICATION RULES

This qualification consists of compulsory modules at NQF Level 5, 6, 7 and 8 totalling 368 Credits.

Modules at NQF Level 5:

Academic Literacy, 12 Credits.

Financial Accounting: Basic Concept and Accounting Systems, 16 Credits.

Accounting: Framework, Assumptions and Applications, 16 Credits.

Basic Statistical Modelling, 12 Credits.

Advanced Mathematical Techniques, 12 Credits.

Introduction to Agricultural Economics, 12 Credits.

Introduction to Economics, 12 Credits.

Basic Micro- and Macro-economics, 12 Credits.
Totalling 104 Credits.

Modules at NQF Level 6:

Understanding the Economic World, 12 Credits.

Applied Statistics for Agricultural Economics, 16 Credits.

Farm Accounting A, 8 Credits.

Farm Accounting B, 16 Credits.

Macro-economics, 16 Credits.

Micro-economics, 16 Credits.

Introduction to Risk Management, 16 Credits.

Investment Management, 16 Credits.
Totalling 116 Credits.

Modules at NQF Level 7:

Business Ethics, 12 Credits.

Farm Management and Accounting, 8 Credits.

Land Resource and Environmental Economics, 16 Credits.

Production Economics, 16 Credits.

Financial Management, 16 Credits.

Fiscal and Monetary Policy, 16 Credits.

Economic Analysis, 16 Credits.

Bank Risk Management, 16 Credits.

Financial Markets, 16 Credits.
Totalling 132 Credits.

Modules at NQF Level 8:

Agricultural Business Management, 16 Credits.
Totalling 16 Credits.

EXIT LEVEL OUTCOMES

After completing this qualification the learner should be able to:
1. Demonstrate integrated knowledge and critical understanding of the different approaches, methods and theories in the fields of agricultural economics and risk management, as well as practical skills in applying methods and theories to identify and solve risks and problems in real world agricultural economics scenarios.
2. Demonstrate an understanding of a range of methods of enquiry for suitable investigations and ability to identify, analyse, evaluate, critically reflect on and resolve problems in the field of agricultural economics and risk management.
3. Gather suitable information, validate, evaluate and manage published new information in the field of agricultural economics and risk management.
4. Apply, in a self-critical manner, appropriate time management and teaching learning strategies to effectively enhance professional and lifelong learning.

ASSOCIATED ASSESSMENT CRITERIA

Associated Assessment Criteria for Exit Level Outcome 1:

Knowledge and theories about the importance of risk in the agricultural environment are described, discussed and analysed.

Different types of risk distinguished and identified.

Different risks scenarios such as market risks, investment management and valuation, fundamental and technical analysis of risks are analysed.

Associated Assessment Criteria for Exit Level Outcome 2:

Real world agricultural risk management problems and issues are identified, analysed and dealt with.

Various financial risks are analysed.

Appropriate financial instruments are incorporated into the development of a risk management strategy.

Associated Assessment Criteria for Exit Level Outcome 3:

Unfamiliar agricultural economics and risk management ideas are developed and communicated in an ethical and accountable manner.

Necessary and suitable information is gathered.

Own ideas are developed and communicated in writing and orally presented.

Short research reports are written.

Research results are orally presented to specialist and non-specialist audiences using appropriate IT.

Associated Assessment Criteria for Exit Level Outcome 4:

Responsibility for own learning as well as personal- and professional development is acknowledged.

Own learning opportunities are created by demonstrating an enquiring attitude to independently search for answers to issues at hand.

Integrated Assessment:
Assessment practices will be open, transparent, fair, valid, and reliable and ensure that no learner is disadvantaged in any way. Learning and assessment is an integrated process. In continual formative assessment the learner receives feedback on his/her progress in the achievement of specific learning outcomes and this is done using class tests, written assignments and semester tests. Summative assessment is the judgement of the learning in relation to the Exit-Level Outcomes of the qualification and this judgement includes a three hour written examination in each module. Integrated assessment tests the learners' ability to integrate the larger body of knowledge, skills and attitudes and is the evaluation of the learner's performance which provides evidence of applied competence when he/she plans and presents a project individually and/or in groups. The final practical summative assessment at the end of year 3 (NQF Level 7), will incorporate the assessment of the mastered knowledge and skills of the entire fundamental and core learning outcomes.

INTERNATIONAL COMPARABILITY

The SAQA Level Descriptors for NQF Level 7 were used to design the generic Bachelor of Commerce qualification standard. These Level Descriptors are internationally benchmarked criteria based upon published work of the National Quality Assurance bodies in England, Scotland, Northern Ireland, New Zealand and Australia.

A country such as the United States of America has been at the forefront of Agricultural Economic progress (Applied Economics) during recent years. Teaching institutions within the USA will thus serve as an excellent benchmark for this qualification. Outcomes for Agricultural Economic modules at leading institutions in the USA, such as Texas A and M University, University of Minnesota, Purdue University and Virginia Tech, will be further analysed and the course material that is internationally relevant, will be incorporated in the module outcomes of this qualification.

Conclusion:
Even though the international qualifications will be used, the content of the modules will continuously be adapted to suit the local agricultural and risk management environments in terms of best practice, given the unique characteristics of the South African agricultural industry.

ARTICULATION OPTIONS

This qualification will have both horizontal and vertical articulation possibilities. Learners that complete this degree can vertically articulate into a Bachelor of Commerce Honours Degree in Information Risk Management (or any other relevant Bachelor of Commerce Honours Degrees).

Learners wishing to change their undergraduate Bachelor's Degree can horizontally articulate towards the Bachelor of Commerce in Agribusiness Management (or the any other relevant Bachelor of Commerce Degree).

MODERATION OPTIONS

Moderation procedures comply with the requirements of the General Rules and the Assessment and Moderation Policy of the University and thus also with national requirements. Each summative assessment examination paper is moderated internally or externally for measuring the appropriate module outcomes at the appropriate NQF level. Internal moderation by a person that is not presenting the module is used for modules where the outcomes are not at an exit level. External moderation is used for all modules at an exit level of the qualification.

Moderation must include all assessments which are specifically designated as integrated assessments, such as examination papers and oral presentations, and is done by external moderators of reputable institutions, nominated and appointed by the Faculty Board. Internal as well as external moderation focuses on all forms of summative, and in some instances also formative, assessments, such as oral and written examinations, and includes examination papers, memoranda, the marking process, as well as marked scripts, of which at least 10% must be moderated. The moderator's report covers the validity of the assessment instruments, performance of the learners, standard of learner competencies, reliability of the marking and any irregularities in terms of University/professional regulations.

CRITERIA FOR THE REGISTRATION OF ASSESSORS

Required details include the indication of the following:

Similar qualification at one NQF level higher than the level of this qualification.

Only qualified academic staff plus experts from the Agricultural Economic and Risk Management profession will be allowed to act as assessors.

Assessors will have at least two years of experience in higher education teaching and at least three years in practice.

External moderators from higher education institutions and/or International Business professions will be appointed for the moderation of each module.

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:

When qualifications are replaced, some of their learning programmes are moved to being recorded against the replacement qualifications. If a learning programme appears to be missing from here, please check the replacement.

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.	North West University