Yearbooks

Programme: BCom Economics

Kindly take note of the disclaimer regarding qualifications and degree names.
Code Faculty
07130051 Faculty of Economic and Management Sciences
Credits Duration
Duration of study: 3 years Total credits: 419
Contact:
Prof R Inglesi-Lotz
[email protected]
+27 (0)124204504

Programme information

The purpose of this qualification is to provide graduates with knowledge on the working of economics and economic policy in South Africa and the influence exerted on it by the global economy and general markets conditions, related to government policy and regulation. This programme will provide students with the necessary theoretical and applied principles of the instruments and effects of economic policy, such as fiscal policy, monetary policy and labour policy. Graduates will be able to do a prognosis and analysis of the South African economy and therefore be able to advise management in the private as well as public sectors. Candidates will also be provided with the necessary statistic, computer and communication skills.

Admission requirements

  • • To be able to register NSC candidates must comply with the minimum requirements for degree studies as well as with the minimum requirements for the relevant study programme.
  • Life Orientation is excluded when calculating the APS.

Minimum requirements for 2016

Achievement Level

APS

Afrikaans or English

Mathematics

NSC/IEB

HIGCSE

AS-Level

A-Level

NSC/IEB

HIGCSE

AS-Level

A-Level

5

3

C

C

5

3

C

C

32

 

 

 

Additional requirements

  1. General Regulations G.1 to G.15 (with the exception of Regulation G.11.2(c)) apply to a bachelor's degree.
  2. A student may not take more than the prescribed number of modules per semester unless the Dean decides otherwise.
  3. A student may take a module not listed as an elective module only if the prior approval of the Dean has been obtained.
  4. A student who is in possession of a bachelor's degree may not present any modules passed for that degree for another field of specialisation or degree in this Faculty. (See General Regulations G.8 and G.9)
  5. A module passed at 300-level shall only be recognised for degree purposes if the corresponding prescribed module(s) at 200-level has/have been passed, unless the Dean decides otherwise, with the proviso that the following modules which are offered at 300-level only, are also considered "major subjects": Labour law 311 (ABR 311), Labour relations 320 (ABV 320) and International business management 359 and 369 (OBS 359 and 369); only two 14-week modules, or the equivalent thereof, that are not preceded by the 100- and 200-level modules, may be taken for degree purposes. In other words, at least four 14-week modules must be taken at 300-level that are preceded by the 100- and 200-level, except for modules offered on 200- and 300-level only.
  6. A module already passed may only be repeated with the approval of the Dean.
  7. A module passed may not be taken into account for more than one degree or field of specialisation.
  8. It remains the student's responsibility to ascertain, prior to registration, whether all the modules he/she intends taking can be accommodated in the class, test and examination timetables.
  9. The Faculty of Economic and Management Sciences supports an outcomes-based education system and places a high premium on the development of specific academic competences. Class attendance in all modules and for the full duration of all programmes is therefore compulsory for all students.
  10. The Dean has the right of authorisation regarding matters not provided for in the General Regulations or the Faculty Regulations.

Other programme-specific information

Note: See the alphabetical list of modules for prerequisites of all modules.

#       FRK 122 is a terminating module. Candidates will not be able to continue with Financial accounting in the second or third year.

Specialisation modules: EKN 310, 320, 314, 325.

"Major subject"
To be considered a "major subject" the equivalent of four 14-week modules, including two at 300-level, must be passed provided that:

  • the following modules which are offered at 300-level only, are also considered "major subjects": Labour law 311 (ABR 311), Labour relations 320 (ABV 320), and International business management 359 and 369 (OBS 359 and 369);
  • only two 14-week modules, or the equivalent thereof, that are not preceded by the 100- and  200-level modules, may be taken for degree purposes. In other words, at least four 14-week modules must be taken at 300-level that are preceded by the 100- and 200-level, except for modules offered on 200- and 300-level only.

Promotion to next study year

According to General Regulation G.3 students have to comply with certain requirements as set by the Faculty Board.

  1. A student must pass at least 4 core semester or 2 core year modules to be admitted to the subsequent year of study.
  2. If a student has passed less than the required minimum of 4 core semester or 2 core year modules, he/she will not be readmitted to the Faculty of Economic and Management Sciences. Such a student may apply in writing to the Faculty's Admissions Committee to be readmitted conditionally – with the proviso that the Admissions Committee may set further conditions with regards to the student's academic progress. The Faculty's Admissions Committee may deny a student's application for readmission.
  3. If a student has been readmitted conditionally, his/her academic progress will be monitored after the first semester examinations to determine whether he/she has complied with the requirements set by the Admissions Committee. If not, his/her studies will be suspended.
  4. A student whose studies have been suspended because of his/her poor academic performance has the right to appeal against the decision of the Faculty's Admissions Committee.
  5. A student may be refused promotion to a subsequent year of study if the prescribed tuition fees are not paid.
  6. A student may be refused admission to the examination, or promotion to a subsequent year of study or promotion in a module (if applicable) if he/ she fails to fulfil the attendance requirements. Class attendance in all modules and for the full duration of all programmes is compulsory for all students.

Pass with distinction

  1. A degree may be awarded with distinction provided the candidate meets the following criteria:
  1. Completes the degree within three years;
  2. Obtains a Cumulative Grade Point Average CGPA) of 75%;
  3. Repeated passed modules will not be considered. The initial pass mark of module will be used when calculating the GPA.
  1. Transferees from other faculties and from other universities  who still complete their bachelor degrees (including credits transferred and recognised from the degrees they registered for originally) within three years will be considered as exceptional cases by the Dean.
  2. The GPA will be not be rounded up to a whole number.
  3. Exceptional cases will be considered by the Dean.

General information

Minimum requirements for bachelor's degrees; semester and year modules; new regulations

  1. Students who commenced their studies before 2015 must complete the programme in terms of the curriculum of the year in which they commenced their studies, or in terms of the curriculum of the year in which they switched to their current field of specialisation. Students who prefer to do so may, however, apply to change over to the latest curriculum, but then they should comply with all the requirements thereof and they may not revert to the regulations of an earlier year.
  2. Students who are registering for a degree programme for the first time in 2015 must take the modules indicated under the particular field of specialisation.

Please note: Only two 14-week modules, or the equivalent thereof, that are not preceded by the 100- and 200-level modules, may be taken for degree purposes. In other words, at least four 14-week modules must be taken at 300-level that are preceded by the 100- and 200-level, except for modules offered on 200- and 300-level only.
It is thus the responsibility of students to ensure before registration, that their curricula comply with all the requirements of the applicable regulations.

Minimum credits: 138

Fundamental modules

  • Module content:

    Find, evaluate, process, manage and present information resources for academic purposes using appropriate technology. Apply effective search strategies in different technological environments. Demonstrate the ethical and fair use of information resources. Integrate 21st-century communications into the management of academic information.

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  • Module content:

    This module intends to equip students with the competence in reading and writing required in the four high impact modules: Business Management, Financial Accounting, Statistics and Economics. Students will also be equipped to interpret and draw figures and graphs and to do computations and manage relevant formulas. During Semester 1 students engage with the online computer program MyFoundationsLab individually in a flexible learning environment, and during Semester 2 they attend the scheduled contact sessions and do the coursework.                                                                              This module is offered by the Faculty of Humanities.

     

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Core modules

  • Module content:

    This module deals with the core principles of economics. A distinction between macroeconomics and microeconomics is made. A discussion of the market system and circular flow of goods, services and money is followed by a section dealing with microeconomic principles, including demand and supply analysis, consumer behaviour and utility maximisation, production and the costs thereof, and the different market models and firm behaviour. Labour market institutions and issues, wage determination, as well as income inequality and poverty are also addressed. A section of money, banking, interest rates and monetary policy concludes the course.

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  • Module content:

    This module deals with the core principles of economics, especially macroeconomic measurement the private and public sectors of the South African economy receive attention, while basic macroeconomic relationships and the measurement of domestic output and national income are discussed. Aggregate demand and supply analysis stands core to this course which is also used to introduce students to the analysis of economic growth, unemployment and inflation. The microeconomics of government is addressed in a separate section, followed by a section on international economics, focusing on international trade, exchange rates and the balance of payments. The economics of developing countries and South Africa in the global economy conclude the course.

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  • Module content:

    The nature and function of accounting; the development of accounting; financial position; financial result; the recording process; processing of accounting data; treatment of VAT; elementary income statement and balance sheet; flow of documents; accounting systems; introduction to internal control and internal control measures; bank reconciliations; control accounts; adjustments; financial statements of a sole proprietorship; the accounting framework.

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  • Module content:

    Introduction to business management as a science; the environment in which the enterprise operates; the field of business, the mission and goals of an enterprise; management and entrepreneurship. The choice of a form of enterprise; the choice of products and/or services; profit and cost planning for different sizes of operating units; the choice of location; the nature of production processes and the layout of the plant or operating unit.
    Introduction to and overview of general management, especially regarding the five management tasks: strategic management; contemporary developments and management issues; financial management; marketing and public relations. Introduction to and overview of the value chain model; management of the input; management of the purchasing function; management of the transformation process with specific reference to production and operations management; human resources management and information management; corporate governance and black economic empowerment (BEE).

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  • Module content:

    Responsible leadership and the role of a business in society. The nature and development of entrepreneurship; the individual entrepreneur and characteristics of South African entrepreneurs. Looking at the window of opportunity. Getting started (business start up). Exploring different routes to entrepreneurship: entering a family business, buying a franchise, home-based business and the business buyout. This semester also covers how entrepreneurs can network and find support in their environments. Case studies of successful entrepreneurs - also South African entrepreneurs - are studied.

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  • Module content:

    Descriptive statistics:
    Sampling and the collection of data; frequency distributions and graphical representations. Descriptive measures of location and dispersion.
    Probability and inference:
    Introductory probability theory and theoretical distributions. Sampling distributions. Estimation theory and hypothesis testing of sampling averages and proportions (one and two-sample cases). Identification, use, evaluation and interpretation of statistical computer packages and statistical techniques.

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  • Module content:

    Multivariate statistics:
    Analysis of variance, categorical data analysis, distribution-free methods, curve fitting, regression and correlation, the analysis of time series and indices.
    Statistical and economic applications of quantitative techniques:
    Systems of linear equations: drafting, matrices, solving and application. Optimisation; linear functions (two and more independent variables), non-linear functions (one and two independent variables). Marginal and total functions. Stochastic and deterministic variables in statistical and economic context: producers' and consumers' surplus, distribution functions, probability distributions, probability density functions. Identification, use, evaluation, interpretation of statistical computer packages and statistical techniques.
    This module is also presented as an anti-semester bilingual module.

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  • Module content:

    *Students will not be credited for more than one of the following modules for their degree: WTW 134, WTW 165, WTW 114, WTW 158. WTW 134 does not lead to admission to Mathematics at 200 level and is intended for students who require Mathematics at 100 level only. WTW 134 is offered as WTW 165 in the second semester only to students who have applied in the first semester of the current year for the approximately 65 MBChB, or the 5-6 BChD places becoming available in the second semester and who were therefore enrolled for MGW 112 in the first semester of the current year.        Functions, derivatives, interpretation of the derivative, rules of differentiation, applications of differentiation, integration, interpretation of the definite integral, applications of integration. Matrices, solutions of systems of equations. All topics are studied in the context of applications.

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  • Module content:

    Budgeting, payroll accounting, taxation – income tax and an introduction to other types of taxes, credit and the new Credit Act, insurance, accounting for inventories (focus on inventory and the accounting entries, not calculations), interpretation of financial statements.

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  • Module content:

    *Students will not be credited for more than one of the following modules for their degree:
    WTW 124, WTW 146 and WTW 164. The module WTW 146 is designed for students who require Mathematics at 100 level only and does not lead to admission to Mathematics at 200 level.

    Vector algebra, lines and planes, matrix algebra, solution of systems of equations, determinants. Complex numbers and polynomial equations. All topics are studied in the context of applications.

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  • Module content:

    *Students will not be credited for more than one of the following modules for their degree:
    WTW 124, WTW 148 and WTW 164. The module WTW 148 is designed for students who require Mathematics at 100 level only and does not lead to admission to Mathematics at 200 level.

    Integration techniques. Modelling with differential equations. Functions of several variables, partial derivatives, optimisation. Numerical techniques. All topics are studied in the context of applications.

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Minimum credits: 146

Fundamental modules

  • Module content:

    In this module students are equipped with an understanding of the moral issues influencing human agency in economic and political contexts. In particular philosophy equips students with analytical reasoning skills necessary to understand and solve complex moral problems related to economic and political decision making. We demonstrate to students how the biggest questions concerning the socio-economic aspects of our lives can be broken down and illuminated through reasoned debate. Examples of themes which may be covered in the module include justice and the common good, a moral consideration of the nature and role of economic markets on society, issues concerning justice and equality, and dilemmas of loyalty. The works of philosophers covered may for instance include that of Aristotle, Locke, Bentham, Mill, Kant, Rawls, Friedman, Nozick, Bernstein, Dworkin, Sandel, Walzer, and MacIntyre.

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Core modules

  • Module content:

    Basic principles of law of contract. Law of sales, credit agreements, lease.

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  • Module content:

    Labour law. Aspects of security law. Law of insolvency. Entrepreneurial law; company law, law concerning close corporations. Law of partnerships.

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  • Module content:

    Macroeconomics
    From Wall and Bay Street to Diagonal Street: a thorough understanding of the mechanisms and theories explaining the workings of the economy is essential. Macroeconomic insight is provided on the real market, the money market, two market equilibrium, monetarism, growth theory, cyclical analysis, inflation, Keynesian general equilibrium analysis and fiscal and monetary policy issues.

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  • Module content:

    Microeconomics
    Microeconomic insight is provided into: consumer and producer theory, general microeconomic equilibrium, Pareto-optimality and optimality of the price mechanism, welfare economics, market forms and the production structure of South Africa. Statistic and econometric analysis of microeconomic issues.

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  • Module content:

    Counting techniques. Probability theory: Sample spaces, events, rules of probability, conditional probabilities, independent events and Bayes’ theorem. Probability distributions and probability densities: cumulative distribution functions, marginal distributions, joint distributions, conditional distributions and independence. Expected values: Moments, Chebyshev’s theorem, moment-generating functions, product moments, moments of linear combinations of random variables and conditional expectations. Transformation techniques of random variables. Identification, use, evaluation and interpretation of statistical computer packages and statistical techniques.

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  • Module content:

    Special probability distributions: the discrete uniform distribution, Bernoulli distribution, binomial distribution, negative binomial and geometric distribution, the hypergeometric distribution, Poisson distribution and multinomial distribution. Special probability densities: Uniform distribution, gamma, exponential and chi-square distributions, the beta distribution, the normal distribution and the bivariate normal distribution. Functions of random variables. Sampling distributions, point estimation, interval estimation and hypothesis testing. Regression Analysis. Identification, use, evaluation and interpretation of statistical computer packages and statistical techniques.

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  • Module content:

    Macroeconomics
    Application of the principles learned in EKN 214 on the world we live in. We look at international markets and dynamic macroeconomic models, and familiarise the students with the current macroeconomic policy debates. We also take a look at the latest macroeconomic research in the world. The course includes topics of the mathematical and econometric analysis of macroeconomic issues.

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  • Module content:

    Microeconomics
    From general equilibrium and economic welfare to uncertainty and asymmetric information. In this module we apply the principles learned in EKN 224 on the world around us by looking at the microeconomic principles of labour and capital markets, as well as reasons why the free market system could fail. We touch on the government’s role in market failures. The course includes topics of the mathematical and econometric analysis of microeconomic issues.

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Minimum credits: 130

Core modules

  • Module content:

    Public finance
    Role of government in the economy. Welfare economics and theory of optimality. Ways of correcting market failures. Government expenditure theories, models and programmes. Government revenue. Models on taxation, effects of taxation on the economy. Assessment of taxation from an optimality and efficiency point of view. South African perspective on public finance.

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  • Module content:

    International trade/finance
    International economic insight is provided into international economic relations and history, theory of international trade, international capital movements, international trade politics, economic and customs unions and other forms or regional cooperation and integration, international monetary relations, foreign exchange markets, exchange rate issues and the balance of payments, as well as open economy macroeconomic issues.

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  • Module content:

    Economic analyses
    Identification, collection and interpretation process of relevant economic data; the national accounts (i.e. income and production accounts, the national financial account, the balance of payments and input-output tables); economic growth; inflation; employment, unemployment, wages, productivity and income distribution; business cycles; financial indicators; fiscal indicators; social indicators; international comparisons; relationships between economic time series - regression analysis; long-term future studies and scenario analysis; overall assessment of the South African economy from 1994 onwards.

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  • Module content:

    Economic policy and development: Capita select
    The course provides an introduction to growth economics and also to some topics on development economics. Firstly, historical evidence is covered and then the canonical Solow growth model and some of its empirical applications (human capital and convergence). Secondly, the new growth theory (the AK and the Romer models of endogenous growth) are covered. Some of the development topics to be covered include technology transfer, social infrastructure and natural resources.

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  • Module content:

    Regression analysis: simple and multiple regression; nonlinear regression; correlation and the use of dummy variables. Multivariate distributions: normal, multinomial and poisson distribution. Linear combinations of normal variables. Analysis of variance and covariance. Categorical data analysis. Identification, use, evaluation and interpretation of statistical computer packages and statistical techniques.

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  • Module content:

    Regression analysis extensions: heteroscedasticity, serial correlation and lag structures. Time-series analysis. Applications of matrices, differentiation and integration in the economic and management sciences. Evaluation of simple economic models. Theory and applications of time-series models: univariate time series. Stationary and non-stationary time series. ARMA and ARIMA models. Regression models. Model identification and estimation. Spectrum and periodogram. Forecasting with time-series models. Identification, use, evaluation and interpretation of statistical computer packages and statistical techniques. Student seminars.

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The information published here is subject to change and may be amended after the publication of this information. The General Regulations (G Regulations) apply to all faculties of the University of Pretoria. It is expected of students to familiarise themselves well with these regulations as well as with the information contained in the General Rules section. Ignorance concerning these regulations and rules will not be accepted as an excuse for any transgression.

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