| Code | Faculty |
|---|---|
| 07255170 | Faculty of Economic and Management Sciences |
| Credits | Duration |
|---|---|
| Duration of study: 2 years | Total credits: 210 |
| Miss SC Magwaza [email protected] | +27 (0)124202423 |
The MPhil in Economics programme is designed to prepare students to enter into a research-based PhD degree programme in Economics. The programme focuses primarily on the core microeconomic and macroeconomic theory principles, as well as the theoretical econometric fundamentals necessary for the student to understand the extant economic literature and to contribute to the international economic debate.
Due to capacity constraints, there are not an intake of new students for every degree every year. It remains the applicant’s responsibility to ensure that the degree they wish to apply for, will indeed be offered. In addition to the fields of specialisation, options are offered under the various specialisation fields, eg MPhil Accounting Sciences with an option in Fraud Risk Management, which enables the candidate to make a selection and expand specific focus areas within the existing fields of specialisation.
EBW 801 is a prerequisite for the mini-dissertation (EKN 895). The module does not carry any credits.
All students accepted into the programme will be required to attend an intensive Mathematics and Statistics session. At the end of this session, students will be required to write an exam. Those students who fail the exam and those who did not attend the abovementioned session will be deregistered from the programme. The Department will also reserve the right to request that those students who have failed or did not attend the Mathematics and Statistics session enrol for appropriate modules before they will be allowed to continue with the master’s programme.Capacity limitations
The weight of the mini-dissertation (EKN 895) contributes 57% towards the total requirements for the degree.
Before or on submission of the dissertation a candidate must submit at least one draft article for publication in a recognised academic journal. The draft article should be based on the research the candidate has conducted for the dissertation and be approved by the supervisor.
Dissertations/mini-dissertations/research reports, curricula and modules
Article for publication
A dean may require, before or on submission of a dissertation, the submission of a draft article for publication to the supervisor. The draft article should be based on the research that the student has conducted for the dissertation and be approved by the supervisor concerned. The supervisor should then have the opportunity to take the paper through all the processes of revision and resubmission as may be necessary and/or appropriate in order to achieve publication.
Submission of dissertation
A dissertation is submitted to the Head: Student Administration, before the closing date for the various graduation ceremonies as announced annually.
For examination purposes, a student must, in consultation with the supervisor, submit a sufficient number of bound copies of the dissertation, printed on good quality paper and of good letter quality, to the Head: Student Administration. Permission to submit the dissertation in unbound form may be obtained from the supervisor concerned on condition that a copy of the final approved dissertation is presented to the examiners in bound format or electronic format.
In addition to the copies already mentioned, each successful student must submit a bound paper copy as well as two electronic copies of the approved dissertation to the Head: Student Administration in the format specified by the faculty and in accordance with the minimum standards set by the Department of Library Services, before 15 February for the Autumn graduation ceremonies and before 15 July for the Spring graduation ceremonies, failing which the degree will only be conferred during a subsequent series of graduation ceremonies.
Module content:
The following broad themes are covered:
• An overview of the research process to be followed and
the outcomes required of postgraduate students;
• Foundational skills for postgraduate students;
• What is research?;
• What is a theory and how can I ensure that my study makes a
clear theoretical contribution?;
• An overview of the structure of a research proposal;
• Identifying and evaluating possible research topics;
• Delineating the scope of a study;
• Writing a literature review;
• Choosing an appropriate inquiry strategy (research approach) for a
study;
• Writing the research design and methods section of a research
proposal.
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.
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
Module content:
The module is devoted to microeconomic theory, and the relevant econometric theory needed to apply that theory to data that is readily available. Students will be expected to read a broad selection of published papers, learn about recent advances in both theory and econometrics, and start writing their own microeconomic research. Students will be graded through coursework and tests, as well as on their research.
Module content:
The module is devoted to macroeconomic theory, and the relevant econometric theory needed to apply that theory to data that is readily available. Students will be expected to read a broad selection of published papers, learn about recent advances in both theory and econometrics, and start writing their own macroeconomic research. Students will be graded through coursework and tests, as well as on their research.
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.
Module content:
EKT 885 is a research topics module focusing on econometric issues. The content will change from year to year as the research frontier in econometrics is extended.
Module content:
EKN 882 is a research topics module focusing on microeconomic issues. The content will change from year to year, as the research frontier in microeconomics is extended.
Module content:
EKN 883 is a research topics module focusing on macroeconomic issues. The content will change from year to year as the research frontier in macroeconomics is extended.
Module content:
EKN 884 is a capita selecta research topics module. The content will change from year to year, depending upon staff capacity and the research frontier.
Module content:
The following broad themes are covered:
• An overview of the research process to be followed and
the outcomes required of postgraduate students;
• Foundational skills for postgraduate students;
• What is research?;
• What is a theory and how can I ensure that my study makes a
clear theoretical contribution?;
• An overview of the structure of a research proposal;
• Identifying and evaluating possible research topics;
• Delineating the scope of a study;
• Writing a literature review;
• Choosing an appropriate inquiry strategy (research approach) for a
study;
• Writing the research design and methods section of a research
proposal.
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