University of Pretoria Yearbook 2024

MCom Economics (Coursework) (07250055)

Department Economics
Minimum duration of
1 year
study
Total credits 180
NQF level 09

Admission requirements
1. Relevant BComHons degree
2. A cumulative weighted average of at least 65% for the honours degree

Other programme-specific information

● Any other module on master’s level approved by the relevant head of department can constitute an elective.
● Candidates who consider pursuing a doctoral degree are required to complete the MPhil (Economics).
● A minimum number of at least five candidates are required to register before a module is presented.
● The department furthermore reserves the right not to present a module if the particular expertise in that
module is not available in the department for that year.
● Each candidate is only allowed to register twice for a particular module. Exam entry in all subjects requires a
minimum 40%. In order to continue on the programme, all students must receive exam entry in every module.
Students cannot be registered on the programme more than two years.

Examinations and pass requirements

The pass mark for both a dissertation and a mini-dissertation is 50%. The provisions regarding pass requirements
for dissertations, contained in General Academic Regulation G36, apply with the necessary changes to mini-
dissertations.

A pass mark of at least 50% is required in the examination of each module.

Research information
The research component comprises the writing of a mini-dissertation. The postgraduate programme manager will
appoint a supervisor, based on the mutual interests of the candidate and the supervisor. Once a supervisor
agrees to work with a candidate, the candidate will continue to work under the guidance of his/her supervisor to
complete the research and to develop and finalise a mini-dissertation according to departmental guidelines and
regulations.
The mini-dissertation contributes 67% towards the total requirements for the degree.
Mini-dissertations, curricula and modules

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1. The degree programme requires that a mini-dissertation must be submitted.
2. Information on modules, credits and syllabi is available on the yearbook.
3. A module in Research Methodology is compulsory in the programme, although it is incorporated into the mini-
dissertation mark. The Dean may, on the recommendation of the relevant head of department, waive the
prerequisites.
4. The mini-dissertation should be written in consultation with the supervisor, and is to be submitted either by 30
November to graduate in April or May 31 to graduate in September. The mini-dissertation should be submitted
to the postgraduate administrator in the department, with the approval of the supervisor. If the supervisor
does not approve, the student should approach the postgraduate committee of the department. That
committee will make a final recommendation on submission.

Article for publication

There is no expectation that an article be published from the research conducted in the mini-dissertation.

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Curriculum: Final year
A minimum of 180 credits are required, 140 from the core modules and 40 from the elective modules.
The MCom (Economics) is designed to prepare students to work as professional economists in, for example,
consulting, banking, or the public sector. The program provides rigorous training in economic theory and
economic modelling that is required of economists. The program also serves to develop both the technical and
research-related skills needed for an economist interested in a PhD, although a student who wants to proceed to
a PhD programme, should consider, instead, the MPhil (Economics) first.

Core modules
Microeconomics 812 (EKN 812)
Module credits 10.00
NQF Level 09
Service modules Faculty of Natural and Agricultural Sciences
Prerequisites Only for students in relevant programme
Contact time 1 lecture per week
Language of tuition Module is presented in English
Department Economics
Period of presentation Semester 1
Module content
The module will first expose students to knowledge related to how individual consumers and firms behave under
a very strict set of circumstances. Toward the end of the semester, the module will then begin to examine
behaviour under less strict assumptions. The module covers in detail, firm behaviour, consumer behaviour,
general equilibrium, behaviour under uncertainty and risk, strategic behaviour, information, game theory and to
a lesser extent, the interaction between the government and the individual.

Macroeconomics 813 (EKN 813)

Module credits 10.00
NQF Level 09
Service modules Faculty of Natural and Agricultural Sciences
Prerequisites Only for students in relevant programme
Contact time 1 other contact session per week, 3 lectures per week
Language of tuition Module is presented in English
Department Economics
Period of presentation Semester 1 or Semester 2

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Module content
The basic framework for this module will be infinitely-lived dynamic stochastic and non-stochastic macro models
in both discrete and continuous time frames. Overlapping generation models will also be used to deal with
certain topics. Topics include:
• The Lucas Critique
• Growth models
• Expectations
• Business cycles
• Basics of a new Keynesian business cycle model
• Overlapping generations models

Mini-dissertation: Economics 895 (EKN 895)

Module credits 120.00
NQF Level 09
Prerequisites Only for students in relevant programme
Language of tuition Module is presented in English
Department Economics
Period of presentation Year

Elective modules
International trade 804 (EKN 804)
Module credits 10.00
NQF Level 09
Prerequisites Only for students in relevant programme
Contact time 1 lecture per week
Language of tuition Module is presented in English
Department Economics
Period of presentation Semester 2
Module content
Evidence over the last fifty years has shown that trade remains the engine for growth and development across
the world and for almost each individual country. This module comprises a thorough analysis of international
trade with an emphasis on trade theory, growth and development. It exposes students to the critical issues that
policymakers grapple with on a day-to-day basis (WTO issues) and extends the international trade theory to
policymaking. Furthermore, an understanding of the circumstances within which international trade policy is
made in developing countries with particular reference to South Africa.

International finance 805 (EKN 805)

Module credits 10.00
NQF Level 09

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 Only for students registered for the following programmes: MCom (Economics),
Prerequisites
MCom (Econometrics), MPhil (Economics) or PhD Economics
Contact time 1 lecture per week
Language of tuition Module is presented in English
Department Economics
Period of presentation Semester 1

Monetary economics and banking 816 (EKN 816)

Module credits 10.00
NQF Level 09
Service modules Faculty of Natural and Agricultural Sciences
Prerequisites Only for students in relevant programme
Contact time 1 lecture per week
Language of tuition Module is presented in English
Department Economics
Period of presentation Semester 1 or Semester 2
Module content
This module presents an advanced treatment of critical topics in monetary economics and the models
economists use to investigate the interactions between real and monetary factors. It provides extensive
coverage of general equilibrium (DSGE) models, models of the short-run real effects of monetary policy, and
game-theoretic approaches to monetary policy. Among the topics covered are models of time consistency,
monetary policy operating procedures, interest rates and monetary policy.
Throughout, this module focuses on the implications of interest rate control for monetary policy. The module is
designed for advanced graduate students in monetary economics, economic researchers and economists
working in policy institutions and central banks.
The module includes discussions of empirical evidence on the new Keynesian model, inflation forecast targeting
models, optimal policies in forward-looking models, stability and the Taylor principle, and open economy new
Keynesian models. It explicitly treats policy analysis in new Keynesian models and their underlying DSGE
foundations for both a closed economy, a small open economy and a two-country world economy; the discussion
includes the derivation of the policy objective function, optimal commitment and discretionary outcome,
targeting rules and instrument rules.

Computable general equilibrium modelling 819 (EKN 819)

Module credits 10.00
NQF Level 09
Only for students registered for the following programmes: MCom (Economics),
Prerequisites
MCom (Econometrics), MPhil (Economics) or PhD Economics
Language of tuition Module is presented in English
Department Economics

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Period of presentation Semester 1

Capita selecta economics 821 (EKN 821)

Module credits 10.00
NQF Level 09
Only for students registered for the following programmes: MCom (Economics),
Prerequisites
MCom (Econometrics), MPhil (Economics) or PhD Economics
Contact time 1 lecture per week
Language of tuition Module is presented in English
Department Economics
Period of presentation Semester 1
Module content
EKN 821 is a capita selecta module in Economics. The content is dependent upon staff make-up and capacity.

Environmental economics 825 (EKN 825)

Module credits 10.00
NQF Level 09
Only for students registered for the following programmes: MCom (Economics),
Prerequisites
MCom (Econometrics), MPhil (Economics) or PhD Economics
Language of tuition Module is presented in English
Department Economics
Period of presentation Year

Health economics 864 (EKN 864)

Module credits 10.00
NQF Level 09
Only for students registered for the following programmes: MCom (Economics),
Prerequisites
MCom (Econometrics), MPhil (Economics) or PhD Economics
Contact time 1 lecture per week
Language of tuition Module is presented in English
Department Economics
Period of presentation Semester 1
Module content
EKN 864 is dedicated to health economics. The course will examine Grossman’s model of health capital, markets
for health insurance, physician-patient agency problems. We will also examine a number of issues related to
access to care, quality of care, financing and health inequality.

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Financial economics 865 (EKN 865)
Module credits 10.00
NQF Level 09
Only for students registered for the following programmes: MCom (Economics),
Prerequisites
MCom (Econometrics), MPhil (Economics) or PhD Economics
Contact time 1 lecture per week
Language of tuition Module is presented in English
Department Economics
Period of presentation Semester 1
Module content
EKN 865 is dedicated to financial economics, which includes models of pricing in markets for financial
instruments, as well as imperfect information in financial markets, financial contracts, and the relationship
between preferences and financial decisions.

Econometrics 813 (EKT 813)

Module credits 10.00
NQF Level 09
Only for students registered for the following programmes: MCom (Economics),
Prerequisites
MCom (Econometrics), MPhil (Economics) or PhD Economics
Contact time 1 lecture and/or practical per week
Language of tuition Module is presented in English
Department Economics
Period of presentation Semester 1 or Semester 2
Module content
EKT 813 is an econometrics module focused on the background statistics (including distribution theory), matrix
algebra, calculus and related information that underscores econometrics.

Econometrics 814 (EKT 814)

Module credits 10.00
NQF Level 09
Prerequisites Only for students in relevant programme
Contact time 1 lecture and/or practical per week
Language of tuition Module is presented in English
Department Economics
Period of presentation Semester 1 or Semester 2

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Module content
In this module, “panel data” refers to the pooling of observations on a cross-section of countries, households,
firms, etc. over a number of time periods. We use panel data techniques for example to control for individual
heterogeneity or to study the dynamics of adjustment. Panel data allows for more informative results, more
variability, more degrees of freedom and more efficiency. This module focuses on statistical theory and
empirical estimation, interpretation and evaluation of economic relationships, within a panel data context. The
module covers both techniques applicable to stationary and non-stationary panel data sets, and begins with an
introduction to one-way error component models (either including individual-specific or period-specific (time)
effects), followed by two-way error component models (including individual-specific and time effects
simultaneously). Estimation techniques include fixed effects (LSDV or “Within” estimation) and random effects
estimation. Hypothesis testing includes tests for poolability (pooled vs. individual regressions), tests for fixed
effects, random effects, and specification (exogeneity of the X-regressors). It also includes various tests for
serial correlation and heteroscedasticity and the correction thereof. The section on stationary panel data
techniques concludes with a discussion of seemingly unrelated regression (SUR) models. In the non-stationary
panel data section we discuss unit root testing in the panel context, estimation of non-stationary panels and
tests for co integration.

Econometrics 815 (EKT 815)

Module credits 10.00
NQF Level 09
EKT 813 and only for students registered for the following programmes: MCom
Prerequisites
(Economics), MCom (Econometrics), MPhil (Economics) or PhD Economics
Contact time 2 lectures per week
Language of tuition Module is presented in English
Department Economics
Period of presentation Semester 1
Module content
EKT 815 is an econometrics module focused on time-series econometrics, which includes topics, such as
stationarity, cointegration, nonlinear modelling, VARs and other topics according to the choice of the lecturer.

Econometrics 816 (EKT 816)

Module credits 10.00
NQF Level 09
EKT 813 and only for students registered for the following programmes: MCom
Prerequisites
(Economics), MCom (Econometrics), MPhil (Economics) or PhD Economics.
Contact time 1 lecture and/or practical per week
Language of tuition Module is presented in English
Department Economics
Period of presentation Semester 1 or Semester 2

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Module content
EKT 816 is an econometrics module focused on cross-section econometrics, and, therefore, includes topics such
as linear and nonlinear models, randomized controlled trials, instrumentation, matching, regression discontinuity
and other topics according to the choice of the lecturer.

Economic development 880 (EOG 880)

Module credits 10.00
NQF Level 09
Prerequisites Only for students in relevant programme
Language of tuition Module is presented in English
Department Economics
Period of presentation Semester 1 or Semester 2

Public economics 880 (OWE 880)

Module credits 10.00
NQF Level 09
OWE 780 and only for students registered for the following programmes: MCom
Prerequisites
(Economics), MCom (Econometrics), MPhil (Economics) or PhD Economics
Contact time 1 other contact session per week, 2 discussion classes per week
Language of tuition Module is presented in English
Department Economics
Period of presentation Semester 2

General Academic Regulations and Student Rules

The General Academic Regulations (G Regulations) and General Student Rules apply to all faculties and
registered students of the University, as well as all prospective students who have accepted an offer of a place at
the University of Pretoria. On registering for a programme, the student bears the responsibility of ensuring that
they familiarise themselves with the General Academic Regulations applicable to their registration, as well as the
relevant faculty-specific and programme-specific regulations and information as stipulated in the relevant
yearbook. Ignorance concerning these regulations will not be accepted as an excuse for any transgression, or
basis for an exception to any of the aforementioned regulations. The G Regulations are updated annually and
may be amended after the publication of this information.

Regulations, degree requirements and information

The faculty regulations, information on and requirements for the degrees published here are subject to change
and may be amended after the publication of this information.

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University of Pretoria Programme Qualification Mix (PQM) verification project
The higher education sector has undergone an extensive alignment to the Higher Education Qualification Sub-
Framework (HEQSF) across all institutions in South Africa. In order to comply with the HEQSF, all institutions are
legally required to participate in a national initiative led by regulatory bodies such as the Department of Higher
Education and Training (DHET), the Council on Higher Education (CHE), and the South African Qualifications
Authority (SAQA). The University of Pretoria is presently engaged in an ongoing effort to align its qualifications
and programmes with the HEQSF criteria. Current and prospective students should take note that changes to UP
qualification and programme names, may occur as a result of the HEQSF initiative. Students are advised to
contact their faculties if they have any questions.

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