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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Use economic indicators to describe the state of the economy 
SAQA US ID UNIT STANDARD TITLE
262520  Use economic indicators to describe the state of the economy 
ORIGINATOR
SGB Statistics 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 10 - Physical, Mathematical, Computer and Life Sciences Mathematical Sciences 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5  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
2024-06-30   2027-06-30  

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 
The skills, values and knowledge reflected in this unit standard are required by people in the field of statistics. Learners would be able to contribute to a quality hierarchy of skills required to provide quality services in statistics by using economic indicators to describe the state of the economy.

A person credited with this unit standard is able to:
  • Discuss the compilation of the national accounts.
  • Explain economic trends using business cycles.
  • Describe the various measures of international trade. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
  • Mathematics NQF Level 4.
  • Communication NQF Level 4. 
    		•

    UNIT STANDARD RANGE 
    N/A 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Discuss the compilation of the national accounts. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The system of national accounts is described in order to explain its importance in reflecting the state and performance of the national economy. 

    ASSESSMENT CRITERION 2 
    Three approaches to estimate the Growth Domestic Product (GDP) are described in order to compare their strength and weaknesses. 

    ASSESSMENT CRITERION 3 
    The estimation of GDP at constant prices is explained to reflect on economic growth. 

    ASSESSMENT CRITERION 4 
    The difficulties encountered in measuring the national income are explained in order to reflect on the limitations. 

    SPECIFIC OUTCOME 2 
    Explain economic trends using business cycles. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The determination of the turning points of a business cycle is explained in order to reflect on the difficulties involved. 

    ASSESSMENT CRITERION 2 
    Business cycles indicators are described to compare their suitability in predicting economic activity. 

    ASSESSMENT CRITERION 3 
    Time series models and surveys are explained on the ways in which they are used in predicting economic activity. 

    SPECIFIC OUTCOME 3 
    Describe the various measures of international trade. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The concepts of balance of payments, terms of trade and exchange rates are defined to reflect their relationship and how they affect international trade. 

    ASSESSMENT CRITERION 2 
    Ways of compiling international trade statistics are described to identify factors affecting the accuracy of these statistics. 

    ASSESSMENT CRITERION 3 
    The two systems of recording international trade statistics are compared to reflect their effectiveness. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    The assessment will be governed by the policies and guidelines of the relevant Education and Training Quality Assuror (ETQA) that has jurisdiction over this field of learning.

    The assessor will (at the very least) be accredited and have a relevant qualification and be a subject matter expert in this learning area and at least have 3 years experience in the skills specific area, post qualification.

    The learner can be assessed against this unit standard to obtain credits or as part of an integrated assessment for a qualification:
  • Internal moderation.
  • External moderation.
  • An assessor, accredited by the relevant ETQA, will assess the learner's competency.
  • Assessment procedures will be supplied by the ETQA in alignment with NSB requirements.
  • All assessment activities must be fair, so that all candidates have equal opportunities. Activities must be free of gender, ethnic or other bias.
  • Assessment and moderation procedures, activities and tools must be transparent, affordable and support development within the field, sub-field and NQF.
  • Questions and answers to determine theoretical knowledge are expected.
  • Assessment of a portfolio of evidence.
  • Direct observation in simulated and/or controlled work conditions. 
    		•

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    Names, functions and locations of:
  • Economic indicators.

    Purpose of processes and procedures of:
  • Critiquing indicators of economic development.

    Attributes, properties, characteristics related to:
  • Gross Domestic Product (GDP).
  • International trade statistics.
  • Consumer Price Index (CPI).
  • Population census.
  • Labour force survey.
  • General household survey.

    Cause and effect, implications of:
  • CPI and inflation.
  • GDP and economic growth.
  • Exchange rates and balance of trade.

    Procedures and techniques:
  • Interpretation.
  • Critiquing.
  • Identification.
  • Defining.
  • Investigation.

    Regulations, legislation, agreements, policies:
  • National Statistics Act.
  • Standard Data Dissemination System (SDDS).

    Theory, rules, laws, principles:
  • International trade.
  • Monetary theories.
  • Economic theories.

    Relationships, systems:
  • Between CPI and inflation.
  • Between GDP and economic growth.
  • Between exchange rates and balance of trade.
  • Between balance of trade and balance of payments. 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identifying and solving problems in which responses display that responsible decisions using critical and creative thinking have been made when:
  • Using economic indicators to describe the state of the economy.
  • Identifying surveys which produce key economic indicators. 
    		•

    UNIT STANDARD CCFO WORKING 
    Working effectively with others as a member of a team, group, organisation, and community during:
  • Team work in projects.
  • Consultation with supervisor. 
    		•

    UNIT STANDARD CCFO ORGANISING 
    Organising and managing oneself and one's activities responsibly and effectively when:
  • Undertaking investigations and identification activities. 
    		•

    UNIT STANDARD CCFO COLLECTING 
    Collecting, analysing, organising and critically evaluating information to better understand and explain:
  • Economic indicators.
  • The state of the economy. 
    		•

    UNIT STANDARD CCFO COMMUNICATING 
    Communicating effectively using visual, mathematical and/or language skills in the modes of oral and/or written persuasion when:
  • Describing methods of collecting price statistics to show the complexity of determining price indices.
  • Presenting and reporting activities. 
    		•

    UNIT STANDARD CCFO SCIENCE 
    Using science and technology effectively and critically, showing responsibility towards the environment and health of others when:
  • Discussing the compilation of the national accounts.
  • Explaining economic trends using business cycles.
  • Describing the various measures of international trade. 
    		•

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrating an understanding of the world as a set of related systems by recognising that problem-solving contexts do not exist in isolation when:
  • Determining the relationship between CPI, inflation and interest rates.
  • Determining the relationship between GDP, economic growth and unemployment.
  • Determining the relationship between exchange rates, balance of trade and balance of payments. 
    		•

    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. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Fundamental  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.
     
    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.