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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: 

Master of Economic Science 
SAQA QUAL ID QUALIFICATION TITLE
9865  Master of Economic Science 
ORIGINATOR
University of Witwatersrand 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Master's 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  180  Level 8 and above  NQF Level 09  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Registered  EXCO 0733/25  2024-06-30  2027-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2028-06-30   2031-06-30  

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 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 qualification is to combine the development of specialised skills and knowledge, with research mastery through dissertation or coursework and research report.

The qualifying graduate is competent in research and can apply specialised knowledge, tools and techniques in advanced economic-based research and problem-solving. The qualifying learner has reached the educational requirements towards employment as a specialist and is capable of applying specialist knowledge (including microeconomics, macroeconomics, international economics, institutional analysis, political economy, etc.) and applying specialised tools and techniques (such as mathematical economics, econometrics, and statistics) to problems in the practice or research of commerce.

Rationale:
The attainment of a qualification not only amplifies graduates' employability but also substantially elevates their earning potential compared to those holding bachelor's degrees. The contemporary landscape sees a rising demand from both public and private entities for adept professionals capable of comprehending and effectively applying economic research findings. Employment avenues span across diverse sectors such as banking, communication, government, insurance, investment, research, and trade, offering promising career trajectories. Moreover, the qualification serves as a foundational step towards pursuing a PhD degree, thereby providing a pathway for further academic and research pursuits in the field.

The qualification offers targeted instruction tailored to meet the demands of various sectors, including private enterprises, non-profit research institutions, and governmental bodies.

Graduates of the qualification emerge as adept management specialists, policy analysts, forecasters, and economic consultants, equipped with a comprehensive skill set to tackle complex economic challenges. They are likely to hold positions such as Analyst, Economist, Economic Analyst, Consultant, Marketing Manager, Procurement Manager, Agricultural Analyst, Instructor, Market Analyst, Manager, Strategic Analyst, and more. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Recognition of Prior Learning:
The institution has an approved Recognition of Prior Learning (RPL) policy which is applicable with regards to equivalent qualifications for admission into the qualification. RPL will be applied to accommodate applicants who qualify. RPL thus provides alternative access and admission to qualifications, as well as advancement within qualifications. RPL may be applied for access, credits from modules and credits for or towards the qualification.

RPL for access:
  • Learners who do not meet the minimum entrance requirements or the required qualification that is at the same NQF level as the qualification required for admission may be considered for admission through RPL.
  • To be considered for admission in the qualification based on RPL, applicants should provide evidence in the form of a portfolio that demonstrates that they have acquired the relevant knowledge, skills, and competencies through formal, non-formal and/or informal learning to cope with the qualification expectations should they be allowed entrance into the qualification.

    RPL for exemption of modules
  • Learners may apply for RPL to be exempted for modules that form part of the qualification. For a learner to be exempted from a module, the learner needs to provide sufficient evidence in the form of a portfolio that demonstrates that competency was achieved for the learning outcomes that are equivalent to the learning outcomes of the module.

    RPL for credit:
  • Learners may also apply for RPL for credit for or towards the qualification, in which they must provide evidence in the form of a portfolio that demonstrates prior learning through formal, non-formal and/or informal learning to obtain credits towards the qualification.
  • Credit shall be appropriate to the context in which it is awarded and accepted.

    Entry requirements:
    The minimum entry requirement for this qualification is:
  • Bachelor of Commerce Honours. NQF Level 8.
    Or
  • Bachelor of Economic Science Honours, NQF Level 8. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    This qualification consists of the following compulsory and elective modules at National Qualifications Framework Level 9 totalling 180 Credits.

    Compulsory Modules, Level 9, 135 Credits:
  • Research Report, 90 Credits.
  • Macroeconomics, 15 Credits.
  • Microeconomics A, 15 Credits.
  • Advanced Mathematical Economics, 15 Credits.

    Elective modules, Level 9, 15 Credits (Choose one module)
  • Time-Series Econometrics, 15 Credits.
  • Applied Econometrics, 15 Credits.

    Other elective modules, Level 9, 30 Credits (Choose two modules):
  • Official Statistics, 15 Credits.
  • Economic Policy, Globalisation and Labour, 15 Credits.
  • Advanced Financial Economics: International Finance, Investment and Innovation, 15 Credits.
  • The Economics of Competition and Regulations, 15 Credits.
  • Development, 15 Credits.
  • Advanced International Economics, 15 Credits.
  • Advanced South African Economic Issues, 15 Credits.
  • Growth, 15 Credits.
  • Advanced Institutional Economics, 15 Credits.
  • Advanced Econometrics, 15 Credits.
  • Further Topics in Microeconomics, 15 Credits.
  • Advanced Financial Economics: Financial Markets, Institutions and Management of Financial Services Firms, 15 Credits.
  • Applied Labour Economics and Inequality, 15 Credits.
  • Microeconomics B, 15 Credits.
  • Political Economy, 15 Credits.
  • Economics of Organisation, 15 Credits.
  • Advanced Environmental Economics, 15 Credits.
  • Public Economics, 15 Credits.
  • Industrial Organisation, 15 Credits.
  • Economic Change and Comparative Development, 15 Credits.
  • History of Economic Thought, 15 Credits.
  • Introduction to Health Economics, 15 Credits.
  • Gender Economics, 15 Credits.
  • Gender, Infrastructure and Trade, 15 Credits.
  • The Economic Geography of City Development, 15 Credits.
  • International Finance, 15 Credits.
  • Environmental Economics and Policy, 15 Credits.
  • Energy Economics, 15 Credits.
  • Resource Economics, 15 Credits.
  • Discrete Choice Modelling, 15 Credits. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Complete a dissertation or research report.
    2. Apply specialist knowledge to economics, statistics and actuarial science problems.
    3. Perform high order problem solving techniques.
    4. Apply specialised economic, statistical and actuarial science methods, tools and techniques of analysis. 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcomes 1:
  • Identify and formulate a research problem
  • Perform a critical and relevant literature survey
  • Execute and critically review research using an effective methodology in order to demonstrate research mastery
  • Assess the significance of research findings
  • Write the dissertation or research report in acceptable structure, style and language.

    Associated Assessment Criteria for Exit Level Outcomes 2:
  • Consider both knowledge and application of the knowledge in a specialised field
  • Show initiative, and management of himself or herself in an effective and responsible manner
  • Communicate effectively in any medium
  • Engage in lifelong learning and to hold lifelong learning as a professional value-ability to apply for registration with a relevant institute in a specific profession.

    Associated Assessment Criteria for Exit Level Outcomes 3:
  • Elect, apply, evaluate and/or develop the most appropriate specialised approach to the solution of problems
  • Demonstrate an understanding of the world as a set of related systems
  • Apply diverse knowledge to development of appropriate solutions of problems, recognising wide-ranging factors including financial, environmental, health, social and technological aspects.

    Associated Assessment Criteria for Exit Level Outcomes 4:
  • Select, apply, evaluate and/or develop the most appropriate specialised techniques to the solution of problems
  • Use of specialist business tools and techniques effectively and critically.

    INTEGRATED ASSESSMENT:
    Research reports or dissertations serve as the medium for integrated assessment. Assessment is undertaken on a continuous basis, incorporating seminar presentations and papers, coursework assignments and tasks, as well as reports on research plans. Such methods assess students' progress towards the professional and academic competencies set out in the exit level outcomes listed above. The assessment instruments are designed to integrate practical, theoretical and reflexive competence. Furthermore in order to pass a course, and, finally, in order to qualify, the learner must demonstrate the specialised knowledge acquired.

    In order to promote, monitor and measure student learning throughout a course, no single assessment may count for more than 40% of the final mark unless there are special circumstances, in which case the permission of the Dean is required. 
    		•

    INTERNATIONAL COMPARABILITY 
    The qualification is comparable to the following international qualifications:

    Country: Belgium
    Institution: Ghent University
    Qualification: Master of Science in Economics
    Credits: 60
    Duration: One year

    Purpose/rationale
    The Master's programme provides advanced insights into economic theories, models and techniques for you to use when analysing and assessing complex social issues with regard to the interactions and behaviours between economic actors. You will study how these different actors each make economic choices (e.g. consumption, production, labour, investment, import and export, what the consequences are for society, and how problems in that context can best be solved. You will learn how to set up an academic research project in this context, and how to convert your research results into policy recommendations

    Similarities:
  • Both qualifications are based on majors in Microeconomics, Macroeconomics, and Econometrics.
  • They also offer a wide range of elective courses to choose from.
  • Both qualifications are offered for a duration of one year.

    Differences:
  • Instead of offering an advanced Mathematics course, the Ghent University qualification requires students to choose a fourth major from the following options: Economics of Banking, Economics of Financial Markets, Investment Analysis, Institutional Economics, Monetary Policy.
  • Ghent University qualification has 60 credits, while the South African qualification has 180 credits.

    Country: Switzerland
    Institution: Geneva School of Economics and Management
    Qualification: Master of Science in Economics

    Purpose/rationale
    The Master of Science in Economics is based on a deep understanding of modern economics and econometrics and is built on the faculty's strength. We provide our students with skills that are marketable in academia, as well as in international organizations, private, and public companies. The program focuses on providing the most advanced tools in core micro/macroeconomics, and econometrics; students also have a choice of focused and exciting electives and can specialize in econometrics.

    Similarities:
  • Both qualifications structure is similar, with a research thesis accounting for almost half of the credits in the majors.

    Differences:
  • There are no advanced Math courses on the Switzerland qualification, but it's possible to pursue a specialisation in Econometrics, which consists of four core courses. 
    		•

    ARTICULATION OPTIONS 
    This qualification allows possibilities for both horizontal and vertical articulation.

    Horizontal Articulation:
  • Master of Commerce, NQF Level 9.

    Vertical Articulation:
  • Doctor of Philosophy, NQF Level 10.

    Diagonal Articulation
    Diagonal articulation in this case refers diagonal articulation across NQF levels and sub-frameworks such as the OQSF. In this case, diagonal articulation is not possible as there is currently no NQF level 10 on the OQSF, although this may change in future. 
    		•

    MODERATION OPTIONS 
    N/A 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2006; 2009; 2012; 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 Witwatersrand 


    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.