MPhil Economics University Of Pretoria

Economics is both a social science and a business science, and, in the broadest sense, it is concerned with understanding what economies produce, how economies produce what they produce, and who in the economy is able to access what is produced. Within economics, there are two extreme views of this understanding, although economics, as it is practiced, typically lies somewhere in between these two extremes.

On one end of the spectrum, market-oriented economists assume that individuals are the most capable of deciding what is best for them, and that free and unfettered markets make available the sort of information that individuals need in order to make the correct decisions, and that those decisions, when aggregated, lead to the best outcome for the greatest number of individuals in society.

On the other end of the spectrum are economists that favour hierarchical command and control. These economists tend to believe that markets are inherently incapable of providing the appropriate information to individuals, and, therefore, benevolent planners are capable of bringing about the best outcome for the greatest number of individuals in society.

In reality, neither extreme is correct, as markets can fail in a number of circumstances, while the benevolence necessary for success within a planned economy is not a common human trait and often creates unintended negative consequences.

With that as an introduction, it can hopefully now be understood that there is both a philosophical and an analytical aspect to economics. Along those lines, a degree in economics is meant to develop skills related to critical thinking that allows the students to understand the underlying assumptions, interpret data and develop the various chains of logic that are required to advance, support or renounce a particular policy intervention or non-intervention.

As an example, one might ask whether or not it is a good idea to avail young South Africans with a wage subsidy to improve their chances of employment. A market-oriented economist would tend to support a wage subsidy, if the subsidy obviously alleviated a market failure, unless that failure was caused by a minimum wage that was set above the equilibrium price.

A benevolent planner would tend to support a wage subsidy as long as the subsidy increased youth employment. However, such a policy cannot be considered entirely within a vacuum. It is, unfortunately, plausible that a wage subsidy would increase youth employment, while simultaneously reducing employment opportunities for non-youths. In other words, proper economic analysis is complex and requires one to think “outside the box”, regardless of your philosophical preferences.

The Department of Economics offers a wide variety of courses and degrees for undergraduates and postgraduates, as well as short courses for people interested in upgrading their skills and knowledge in various aspects of economics and econometrics.  

The Department of Economics offers the following undergraduate degrees:

  • BCom (Economics) 
  • BCom (Econometrics)

Please see our Undergraduate Studies page for more details.

We also offer several postgraduate degrees.

Honours Degrees

  • BCom (Hons) in Economics
  • BCom (Hons) in Econometrics

Masters’ Degrees

  • MCom in Economics
  • MCom in Econometrics
  • MPhil in Economics

PhD

  • PhD in Economics

The department’s postgraduate programme is considered to be one of the best on the continent. Admission to the various postgraduate programmes are extremely competitive. Please see our Postgraduate Studies page for more details.

 

More University of Pretoria Details

University Of Pretoria Online Application Steps
UP Online Application Form 2024
UP Online Application 2024 Closing Date
UP Online Application Login
UP Online Application Status 2024
University Of Pretoria Undergraduate Online Application
University Of Pretoria Online Application Postgraduate
University Of Pretoria 2024 Application Fee
UP Application Closing Dates
UP Online Application 2024 Closing Date
UP Application Form 2024 Pdf
UP Application 2024
UP Prospectus 2024
UP Online Application 2024
UP Postgraduate Prospectus 2024
UP Undergraduate Prospectus 2024
University Of Pretoria Calendar 2024
University Of Pretoria Contact
University Of Pretoria Bursaries
UP Courses 2024
UP Important Dates
University of Pretoria Registration
University of Pretoria Registration Fee
University Of Pretoria Address
University Of Pretoria Library
University Of Pretoria Fees
University Of Pretoria Logo
University Of Pretoria Courses
University Of Pretoria Application Status
University Of Pretoria Vacancies
University Of Pretoria Application Requirements
University Of Pretoria Accommodation
University Of Pretoria Architecture
University Of Pretoria Application Forms 2024 Pdf
University Of Pretoria Banking Details
University Of Pretoria Business School
University Of Pretoria Brochure
University Of Pretoria Bursaries 2024
University Of Pretoria Bridging Courses
University Of Pretoria Contact Number
University Of Pretoria Computer Science
University Of Pretoria Distance Learning
University Of Pretoria Diploma Courses
University Of Pretoria Departments
University Of Pretoria Email Address
University Of Pretoria Engineering
University Of Pretoria Economics
University Of Pretoria Exam Timetable 2024
University Of Pretoria English Department
University Of Pretoria Finance
University Of Pretoria Faculties
University Of Pretoria Faculty Of Education
University Of Pretoria Faculty Of Law
University Of Pretoria Faculty Of Veterinary Science
University Of Pretoria Faculty Of Engineering
University Of Pretoria Graduation
University Of Pretoria Holidays 2024
University Of Pretoria Hillcrest Campus
University Of Pretoria History
University Of Pretoria HR Contact Details
University Of Pretoria Industrial Engineering
University Of Pretoria IT Courses
University Of Pretoria Journalism
University Of Pretoria June Exam Timetable
University Of Pretoria Key Dates
University Of Pretoria Law Library
University Of Pretoria Law Fees
University Of Pretoria Medical School
University Of Pretoria Main Campus
University Of Pretoria Masters Application
University Of Pretoria Media Studies
University Of Pretoria Nursing
University Of Pretoria Number
University Of Pretoria Nsfas
University Of Pretoria Online Application 2024
University Of Pretoria Online Courses
University Of Pretoria Open Day
University Of Pretoria Online Application Login
University Of Pretoria Online Registration
University Of Pretoria Portal
University Of Pretoria Psychology
University Of Pretoria Postgraduate Fees
University Of Pretoria Qualifications
University Of Pretoria Requirements
University Of Pretoria Ranking
University Of Pretoria Student Accommodation
University Of Pretoria Term Dates
University Of Pretoria Teaching Course Requirements
University Of Pretoria Term Dates 2024
University Of Pretoria Telephone Number
University Of Pretoria Transcripts
University Of Pretoria Up Portal
University Of Pretoria World Ranking
University Of Pretoria World Ranking 2024
University Of Pretoria Waiting List


Posted

in

by