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 UNIT STANDARD THAT HAS PASSED THE END DATE: 

Demonstrate and apply a knowledge and understanding of the basic economic concepts central to local economic development 
SAQA US ID UNIT STANDARD TITLE
110475  Demonstrate and apply a knowledge and understanding of the basic economic concepts central to local economic development 
ORIGINATOR
SGB Economics 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 4  NQF Level 04  6 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2026-06-30   2029-06-30  

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 unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for people who are, or seek to be, active in the area of local economic development. It provides the learner with an understanding of basic economic concepts that inform local economic development activities.

People credited with this Unit Standard are able to:
  • Explain the interaction of supply and demand in the South African political economy.
  • Identify the role of the government in the South African economy.
  • Identify and explain the nature of development economics with specific reference to the South African context.
  • Illustrate the key economic concepts central to local economic development in the form of a presentation with examples from own work context. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that the learner is competent in Communication and Mathematical Literacy at NQF Level 3. 

    UNIT STANDARD RANGE 
  • Micro-economics refers to smaller, more localised issues in economics concerning individual markets or industries.
  • Macro economics with specific reference to fiscal policy in government economics.
  • Monetary economics with specific reference to monetary policy.
  • Development economics issues include: the real meaning of development; sources of national and regional growth; who benefits from economic development and why; what is environmentally sustainable development; primary products vs. developing manufacturing (i.e. beneficiation); what is globalisation; improving the choices of development policies made by developing countries 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain the interaction of supply and demand in the South African political economy. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The concept of consumer demand is explained with reference to the South African economy and population. 

    ASSESSMENT CRITERION 2 
    2. The concept of supply is explained with reference to a range of parties, both government and non-government, in the South African economy. 

    ASSESSMENT CRITERION 3 
    3. The concept of a market is explained in terms of the place where supply and demand meet. 

    SPECIFIC OUTCOME 2 
    Identify the role of the government in the South African economy. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The government`s role in raising and spending taxes is explained with reference to the South African economy. 

    ASSESSMENT CRITERION 2 
    2. The government`s role in setting fiscal and monetary policy is explained with reference to the South African economy. 

    ASSESSMENT CRITERION 3 
    3. The South African situation is contrasted with that of other political economies. 

    SPECIFIC OUTCOME 3 
    Identify and explain the nature of development economics with specific reference to South Africa. 
    OUTCOME NOTES 
    Identify and explain the nature of development economics with specific reference to the South African context. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Development economics is defined as a separate field within the economics discipline. 

    ASSESSMENT CRITERION 2 
    2. Development economics is compared with traditional economics and the political economy. 

    ASSESSMENT CRITERION 3 
    3. A range of issues in development economics is discussed with reference to the local economic development environment in South Africa. 

    SPECIFIC OUTCOME 4 
    Illustrate key economic concepts central to local economic development in form of a presentation. 
    OUTCOME NOTES 
    Illustrate the key economic concepts central to local economic development in the form of a presentation with examples fromown work context. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. A range of key economic concepts are identified in the local economic developmentenvironment. 

    ASSESSMENT CRITERION 2 
    2. The key components identified are discussed and motivated in own work context. 

    ASSESSMENT CRITERION 3 
    3. A presentation of the key components is prepared and delivered in a format that isappropriate to the specified target audience. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA, or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard or will assess this Unit Standard must be accredited as a provider with the relevant ETQ, or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines in the relevant qualification and the agreed ETQA procedures or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Therefore, anyone wishing to be assessed against this Unit Standard may apply to be assessed by any assessment agency, assessor or provider institution that is accredited by the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA. 
    		•

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Definition of economics and its sub-fields.
  • The basic issues in economics i.e. allocation process; production process; distribution process.
  • The role of graphs in economics and drawing and using information from graphs. 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team, group, organization and community by, e.g.
  • Explaining the interaction of supply and demand in the South African political economy according to the assessment criteria listed in specific outcome "Explain the interaction of supply and demand in the South African political economy." 
    		•

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organize and critically evaluate information by, e.g.
  • Explaining the interaction of supply and demand in the South African political economy according to the assessment criteria listed in specific outcome "Explain the interaction of supply and demand in the South African political economy."
  • Identifying the role of the government in the South African economy according to the assessment criteria listed in specific outcome "Identify the role of the government in the South African economy."
  • Identifying and explaining the nature of development economics according to the assessment criteria listed in specific outcome "Identify and explain the nature of development economics with specific reference to the South African context." 
    		•

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems by recognizing that problem solving contexts do not exist in isolation by e.g.
  • Explaining the interaction of supply and demand in the South African political economy according to the assessment criteria listed in specific outcome "Explain the interaction of supply and demand in the South African political economy."
  • Identifying the role of the government in the South African economy according to the assessment criteria listed in specific outcome "Identify the role of the government in the South African economy."
  • Identifying and explaining the nature of development economics according to the assessment criteria listed in specific outcome "Identify and explain the nature of development economics with specific reference to the South African context." 
    		•

    UNIT STANDARD CCFO CONTRIBUTING 
    Be culturally and aesthetically sensitive across a range of social contexts by, e.g.
  • Discussing a range of issues in development economics according to assessment criterion "A range of issues in development economics is discussed with reference to the local economic development environment in South Africa." 
    		•

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  36436   National Certificate: Local Economic Development  Level 4  Level TBA: Pre-2009 was L4  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  LG SETA 
    Elective  67509   Further Education and Training Certificate: Community Development  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 
    Elective  23094   Further Education and Training Certificate: Development Practice  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2009-09-09  ETDP SETA 
    Elective  65989   Further Education and Training Certificate: Human Settlements Development  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  CETA 
    Elective  57428   Further Education and Training Certificate: Youth Development  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  ETDP SETA 
    Elective  23095   Higher Education and Training Certificate: Development Practice  Level 5  NQF Level 05  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  ETDP SETA 
    Elective  65649   National Certificate: Official Statistics  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  PSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    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. A4 Consultancy CC 
    2. Amabamba Recruitment 
    3. AVAX SA 481 CC. T/A Mandisa Development Services 
    4. Avenida (Pty) Ltd 
    5. Brilliant Affairs 
    6. Edutraining Business College 
    7. Giamanje TVET College 
    8. Glentech Innovative Design Concepts 
    9. Jabukile Consultancy 
    10. Jobafrik Consulting 
    11. Josmap Training Institute 
    12. Madingoane and Family Construction 
    13. Makoti Skills Development Solutions 
    14. MANCOSA Pty (Ltd) 
    15. Nemalale Eagles Consultancy CC 
    16. Neopeo Trading & Projects 
    17. Pebetse Training and Consulting 
    18. Progressive School of Business and Engineering (Pty) 
    19. Regent Business School (Pty) Ltd t/a Regent Business School 
    20. Silalele Consulting CC. 
    21. Siza Nesu Training and Consultants 
    22. Tachfin Holdings 
    23. Tasc Business Consulting and Training 
    24. Thinking Mind Trading 
    25. Transafric Consulting Pty Ltd 
    26. Umqondo Consultancy 
    27. UNIVERSITY OF BUSINESS EXCELLENCE(PTY)LTD 
    28. University of Venda 
    29. Vicresco (Pty) Ltd 


    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.