PURPOSE OF THE PROGRAMME

The programme provides an opportunity to obtain a more comprehensive foundation in Economics and Econometric Modelling and widen the horizons in the field of business.

ENTRY REQUIREMENTS

2.1 Normal Entry

To qualify for normal entry into the Bachelor of Commerce in Economics and Econometric Modelling Honours Degree programme, a candidate, in addition to satisfying the minimum requirements as prescribed under the General Regulations and the Faculty Regulations for English at ‘O’ Level, must have obtained at least a B in ‘O’ level Mathematics, and at least two passes at ‘A’ level drawn from Commercials, Sciences or Arts.

• Mature Entry

Over and above the requirements stipulated in the General Regulations, students who get into the Bachelor of Commerce in Economics and Econometric Modelling Honours Degree through mature entry should at least have a ‘B’ in Ordinary Level Mathematics.

• Visiting School

To qualify for entry into the Bachelor of Commerce in Economics and Econometric Modelling Honours degree (Visiting School) programme, a candidate, in addition to satisfying the minimum conditions prescribed under the General Regulations must have:

either:

A National Diploma in a Business-related field or any equivalent tertiary qualification.

or:

At least two (2) passes in relevant “A” level subjects

and

Two (2) years of working experience plus

Confirmation of employment in the relevant department.

Computer programming, Data Analysis, Economic modelling, and Economic policy analysis.

After completing the Bachelor of Commerce in Economics and Econometric Modelling Honours Degree, students are eligible to enrol for a Master of Commerce Degree in Economics, Financial Economics and Investment, Econometrics, Econometric Modelling and related programmes.

• GENERAL PROVISIONS

Refer to faculty and general regulations.

PROGRAMME ASSESSMENT

Refer to Section 6 of the General Regulations and Section 5 of the Faculty Regulations.

PROVISION FOR PROGRESSION

Refer to Section 6 of the Faculty Regulations.

FAILURE TO SATISFY EXAMINERS

Refer to Section 9 of the General Regulations.

GRADING AND DEGREE CLASSIFICATION

Refer to Section 12 of the Faculty Regulations.

DEGREE WEIGHTING

Refer to Section 13 of the Faculty Regulations.

PROGRAMME STRUCTURE

Level 1 Semester 1

Code	Module	Pre-requisites	Credits
EC131	Economic Principles I		12
HCS135	Introduction to Information Technology		12
CS131	Communication Skills		12
GSB211	Gender Studies for Business		12
EC132	Statistics for Economists I		12
EC133	Mathematics for Economists I		12
ACC135	Financial Accounting 1A		12
BM131	Principles of Management		12

Level 1 Semester 2

Code	Module	Pre-requisites	Credits
MM131	Principles of Marketing		12
ACC136	Financial Accounting 1B		12
BM135	Commercial Law		12
EC134	Economic Principles II		12
EC135	Statistics for Economists II		12
EC136	Mathematics for Economists II	EC133	12

Level 2 Semester 1

Code	Module	Pre-requisites	Credits
EC231	Microeconomics I	EC131	12
ENT131	Entrepreneurship		12
EC233	Quantitative Methods	EC136	12
EC236	Computer & Statistical Analysis		12
CIT140	Principles of Machine Learning		12

Level 2 Semester 2

Code	Module	Pre-requisites	Credits
EC238	Research Methods		12
EC433	Industrial Economics		12
CIT234	Artificial Intelligence and Expert Systems	CIT140	12
EC234	Macroeconomics I	EC134	12
EC237	Econometrics I		12

Level 3 Semester 1: Work-Related Learning

Code	Module	Pre-requisites	Credits
EC340	Work-Related Learning Preliminary Report		40

Level 3 Semester 2: Work-Related Learning

Code	Module	Pre-requisites	Credits
EC341	Work-Related Learning Continuous Assessment		40
EC342	Work-Related Learning Report		40

Level 4 Semester 1

Code	Module	Pre-requisites	Credits
EC431	Microeconomics II	EC231	12
EC241	Programming and Data Analytics		12
EC432	Econometrics II		12
EC441	Economic Modelling		12

Electives (Choose any 1):

Code	Module	Credits
EC232	Monetary Economics	12
EC239	Environmental Economics	12
EC436	Public Finance	12

Level 4 Semester 2

Code	Module	Pre-requisites	Credits
EC434	Macroeconomics II	EC234	12
EC444	Blockchain Technology		12
EC446	Dynamic Stochastic General Equilibrium Modelling		12
EC445	Dissertation/Research Project		24

Electives (Choose any 1):

Code	Module	Credits
EC439	Development Economics	12
EC438	Managerial Economics	12
EC235	Agricultural Economics	12

 

MODULE SYNOPSES

EC131 Economic Principles I

This module focuses on the principles of microeconomics. It covers the basic economic questions; scarcity, choice and opportunity cost; demand and supply; market equilibrium; consumer behaviour; production and costs; and market structures (perfect competition, monopoly, monopolistic competition, and oligopoly).

EC132 Statistics for Economists I

This is an introductory module in statistics designed to provide students with the basic concepts of data analysis and statistical computing. It is designed to prepare students for the Statistics for Economists II, econometrics and other modules taken in second and fourth year. It also complements the economics modules taken in by students in first and second year. It provides an introduction to the topic of statistics, with reference to economics examples. Topics covered include basic descriptive measures, measures of association, and probability theory. This module provides students with pragmatic tools for assessing statistical claims and conducting their own statistical analyses.

EC133 Mathematics for Economists I

This is an introductory module in mathematics for economists. It gives students basic skills for implementation of the mathematical knowledge and expertise to the problems of economics. The module acquires the students’ knowledge in the field of mathematics and to make them ready to analyse simulated as well as real economic situations. The module covers properties of sets, vector spaces, functions, equations, and differentiation and uses them to describe economic environments. Accordingly, this module systematically presents the underlying theory in each of these core areas, at an introductory level. The presentation of the theory is supported with several examples of their application to problem-solving.

EC134 Economic Principles II

This module introduces an economic analysis of aggregate employment, income, and prices. Topics include major schools of economic thought; aggregate supply and demand; economic measures, fluctuations, and growth; money and banking; stabilization techniques; and international trade. Upon completion, students should be able to evaluate national economic components, conditions, and alternatives for achieving socioeconomic goals.

EC135 Statistics for Economists II

The module is designed to prepare students for the Econometrics and Computer and Statistical Analysis modules taken in the second and fourth years. It also complements the Economics modules taken by students in the previous semester. The topics include sampling methods, probability and distributions, point & interval estimation, and hypothesis testing – large sample and small sample test, t-test, correlation and regression analysis, time series analysis and index numbers.  The module will mainly emphasize the various statistical methods which can be used to solve business/economic problems.

EC136 Mathematics for Economists II

This module gives students advanced skills for implementation of the mathematical knowledge and expertise to the problems of economics. The module builds on the foundation provided in the first level module in Mathematics for Economists I. It concentrates on the mathematical methods that are required to understand current economics and to investigate economic models. Students learn how to use and apply mathematics by working with concrete examples and exercises. By the end of the module, students should have a complete understanding of integration techniques and optimization, and should be able to apply the Lagrange multipliers approach to constrained optimization problems.

CS131 Communication Skills

(Refer to Centre for Communication Skills for the module synopsis)

BM131 Principles of Management

(Refer to Department of Management Sciences for the module synopsis)

HCS135 Introduction to Information Technology

(Refer to Department of Information and Marketing Sciences for the module synopsis)

ACC135 Financial Accounting 1A

Refer to the Department of Accounting Sciences for the module synopsis.

ACC136 Financial Accounting 1B

Refer to the Department of Accounting Sciences for the module synopsis.

CIT140 Principles of Machine Learning

(Refer to Department of Information and Marketing Sciences for the module synopsis)

BM135 Commercial Law

(Refer to Department of Management Sciences for the module synopsis)

EC231 Microeconomics I

This module is designed to extend the knowledge of the basic microeconomic principles that provide the foundation for future work in economics. It gives insight into how economic models can help us think about important real-world phenomena. Microeconomics is the study of rational choice behaviour on the part of individual consumers and firms. In general, economists are interested in how market mechanisms solve extremely complex resource allocation problems. This module presents a logical and coherent framework in which to organize observed economic phenomena. Topics include supply and demand interaction, utility maximization, profit maximization, elasticity, perfect competition, monopoly power, imperfect competition, game theory and economics of information.

EC233 Quantitative Methods

It is a pre-requisite for students taking this module to have done basic mathematics for economists. Quantitative methods seek to strengthen the use of mathematics in analysing and interpreting economic phenomena. The module covers areas like, comparative statistics, optimization theory, difference and differential equations, matrix algebra etc. At the end of this module the student will be able to identify real economic problems and apply the learnt mathematical principles to solve them. This module will ensure that students will gain the critical 21^st century skills of problem-solving, creativity and innovation.

EC236 Computer & Statistical Analysis

The module forms an enhanced strong prelude to Econometrics I. It covers issues such as probability models, univariate probability distributions, multivariate probability distributions, non-parametric tests, sampling and sampling distributions, asymptotic distributions, Analysis of Variance. The module also infuses the use of computer software for inputting and analysis of statistical data. Computer-aided techniques of data analysis shall include descriptive, computational techniques and simulations.

EC 241 Programming and Data Analytics

The module starts by introducing the fundamental data types and operations. Other topics covered in this module are: Control Statements, i.e., decision and repetition, are presented, Methods, as computations consisting of multiple steps, Arrays, representing a data structure storing multiple values and, the main concepts of object-oriented programming paradigm, i.e., class and instance. By the end of the module students should be able to understand the basic concepts of imperative programming understand the basic concepts of object-oriented programming.

EC234 Macroeconomics I

Macroeconomics studies the aggregate behaviour of the economy. This module provides an introduction to the economic analysis of key macroeconomic variables such as output, employment, inflation, interest rates and exchange rates. The intent of the module is to provide the student with a basic level of economic literacy essential for well-informed citizenship in the years ahead. It capacitates the students to develop competence in using macroeconomic models to explain the determination of aggregate output, prices, employment, and growth. In addition, students should learn to analyse the impact of monetary and fiscal policy on the macroeconomy. Extensive references to current macroeconomic developments and applications of macroeconomic models are essential elements.

EC237 Econometrics I

The module forms the foundation for Econometrics II. It covers methodology of econometrics, linear regression model assumptions, properties of estimators, dummy variables, non-linear regression models hypothesis testing procedures, bi-variate and multivariate analysis, Gauss-Markov theorem.

EC238 Research Methods

The module seeks to provide students with the basic tools to undertake independent research as well as understanding how research can be communicated to end users of analysis. It will focus on pertinent issues in research in Economics including elements such as literature reviews and data sources; the status and growth of economic knowledge; ethics of economic research; and overall design of a research project – aims, philosophy and methods, evaluating existing research (review of articles), and writing up and disseminating findings

EC433 Industrial Economics

This module presents the most traditional and recent principal concepts and methods of Industrial Economics/Organisation. The module aims at providing an understanding of how theories from Industrial Economics can help one comprehend the behaviour of firms in perfect and imperfect competitive markets. The module covers the following issues:  theory of the firm, structural and non-structural market assessment approaches, firm conduct and market structure, game theory, market concentration, market structure and profitability, technology and network markets, pricing and industrial strategies, anticompetitive strategies, competition policy and regulation, diversification and growth. More practical applications pertinent to Industrial Economics are covered through global and country specific case studies, legal proceedings and rulings/outcomes.

GSB211 Introduction to Gender Studies

(Refer to Centre for Centre for Gender Studies for the module synopsis)

ENT131 Entrepreneurship

(Refer to Centre for Centre for Entrepreneurship and Innovation for the module synopsis)

CIT234 Artificial Intelligence and Expert Systems

(Refer to Department of Information and Marketing Sciences for the module synopsis)

EC340 Work-Related Learning Preliminary Report

The module is a preliminary report by the student during internship.  The thrust of the report is to relate theory covered in the university to practice.  It follows a formal report layout covering new concepts such as company background, organisational structure, sections attached to, challenges encountered, new concepts learnt, any gaps between information covered in the University, conclusions and recommendations to the company and the University

EC341 Work-Related Learning Continuous Assessment

Approved work-related learning of not less than ten (10) months and not more than twelve (12) is aimed at providing third year students with a practical exposure to all facets of the economic functions. The student is expected to rotate into all sections of related to economic sciences to which thy will be attached to enable them to be exposed to all economics areas. The student is supposed to produce and/ or facilitate the production of a logbook, assessment form and employer assessment booklet.

EC342 Work-Related Learning Report

The module is a report by the student during internship.  The thrust of the report is to relate theory covered in the university to practice.  It follows a formal report layout covering new concepts such as, company background, organisational structure, sections attached to, challenges encountered, new concepts learnt, any gaps between information covered in the University versus what is at the workplace, any gaps, conclusions and recommendations to the company and the University.

EC431 Microeconomics II

This module introduces the students to Advanced Microeconomics. It builds on the concepts of microeconomics covered in the lower level. Some appreciation of basic economic calculus is greatly expected. The module links theoretical underpinnings with application and it teaches to; describe the technical progress, appreciate decision-making under imperfect markets, understand and appreciate game theory models, analyse the equilibrium between production and consumption, identify and understand welfare economics, understand market failure and measure welfare changes.

EC432 Econometrics II

The modules cover univariate and bi-variate analysis and related topics. The topics covered are econometric problems and their formal tests, such as non-stationarity, heteroscedasticity, autocorrelation, model specification errors, etc. also to be included are the weaknesses of regression models, problems of single equation models and simultaneous equation models. The module content focuses on application of data analysis softwares to econometric techniques that provide students with the understanding they need in modern economics. Students will be given an opportunity to use modern statistical packages like STATA, PC Give, E-Views, SPSS – and these form part of their methodological toolkit for economic and development research.

EC441 Economic Modelling

The module provides the framing skills for modelling the economy; and to develop learners’ problem-solving abilities in the context of both macroeconomics and microeconomics. A structured series of core economic models are introduced to the learners, familiarising them with modelling techniques and the intellectual demands of constructing economic models with which to analyse the economy. students develop skills in constructing and using the IS-LM framework for analysing the closed economy in the short run; and using micro-models to analyse situations in which economic agents both produce and consume, such as the general equilibrium model. By the end of the module the students should be able to understand some of the complexities of interdisciplinary policy problems, particularly in the areas of sustainable development.

EC434 Macroeconomics II

The module covers the closed economy models, determination of aggregate demand and aggregate supply, the inflation-unemployment nexus, formation of expectations, overview of consumption theory, traditional macroeconomic policy models, theories of economic growth, structural adjustment models, open economy analysis, balance of payments approaches. The module also explores the government budget dynamics, including the strategies of funding government budget deficits.

EC445 Research project/Dissertation

During the final year of study, students are required to write and submit a research project on a topic of their choice. The research project gives students an opportunity to seek solutions to problems affecting households, businesses, government, and society in general. It also enhances the student’s skills in terms of time management, academic writing, data analysis, and results interpretation. The grade of the research project will be based on oral examination (viva voce) before a panel of examiners, and a mark awarded for the write-up submitted to the department. The length of the research project shall not be less than 10000 words (excluding preliminary pages and appendices), and the department shall provide guidelines on the structure that should be followed by students.

EC435 Agricultural Economics

The module looks at the definitions of agricultural economics and related ideas, agriculture development in the African context, agricultural production theory, agriculture peasant household models (Chayanov and share tenancy models). The module also looks at agricultural policies; agricultural technology (innovation, transfer) and policy, food policy (food security and drought management), and land policy with particular reference to Zimbabwe.

EC239 Environmental Economics

This module seeks to equip students with skills to utilize the techniques covered in core modules such as microeconomics, macroeconomics and quantitative methods to analyse environmental problems. The module explains the role of environmental economics in the development processing general and in the integrated management of ecological–economic systems in particular. It covers topics such as the history of environmental economics, sustainable development, environmental accounting and valuation of natural resources.

EC436 Public Finance

The economic basis for government activity – efficiency markets and governments, externalities and government policy, provision of public goods, government expenditure and policy, budget deficits and the government taxation – theory and structure, taxes on consumption and sales, state and local government fiscal issues and inter-governmental fiscal relations.

EC232 Monetary Economics

The module aims to introduce students to some tools to understand the operations of monetary policy in the economy. By so doing the student after completing the module must be in a position to make an analysis of existing monetary policies within the context in which they have been formulated. The module therefore explains the nature, definitions and value of money, the role of money in economic activity, the nature and role of financial intermediation, demand of and supply for money; theoretical and empirical issues, monetary policy and money supply control; Zimbabwe monetary policy since 1980, the role of the Central Bank and its independence particularly commitment and credibility, monetary policy transmission mechanisms, theory of and empirics on inflation, optimal stabilisation policy and optimal inflation rate and inflation persistence, open and closed economy monetary policies including efficiencies.

EC4438 Managerial Economics

The module considers business objectives: optimization, the principle of margin, decision analysis, demand measurement and forecasting, cost measurement, economies of scale, the learning curve, pricing policies: joint product pricing, transfer pricing, loss leaders, price discrimination, public utility pricing, advertising and promotion decisions: Dorfman – Steiner theorem, the advertising – sales relationship, corporate strategies: vertical integration, diversification, growth and market share, the location decision, profit planning and control, game theory for managers.

EC4439 Development Economics

The module covers the institutional and political economy of development in both developed and developing countries, mainly focusing on the latter. Focus is directed toward drivers of development such as institutions, human capital, international trade, aid, bilateral & multilateral development financing and financial development. It also dwells on theories/models of development shaping developed, emerging and developing economies. Concepts covered include development in the short-run and long-run. The following topics are studied: Economic Growth and Development; Industrialization and Modernization: Agrarian Change and Agricultural Revolutions, poverty trap, Technological Change and Innovation; Infrastructural Developments; Demographic Change, Commercial and Financial Changes.

EC444 Blockchain Technology

This module lays the groundwork for understanding blockchain technology. It will offer a low-level entry into the technology, by discussing its origins, its key technological features and its different potential applications. Central features such as wallets and transactions will be discussed and crucial notions such as hashes, blocks and chains will be explained. After completing this module, students will have a basic understanding of the origins and the key technological aspects of blockchain technology as well as a basic understanding of different architectures and myriad potential applications of blockchain technologies.

EC 445 Dissertation/Research Project

A student is required to submit a dissertation of approximately 10 000 words on a topic relating to accounting, or auditing, or finance within a period as may be prescribed by the department. This is an independent project in content areas related to accounting areas. Students work under the supervision of an assigned departmental lecturer to address comprehensive company-based or research-orientated problems with documented results. The completed project should clearly present the problem of the research subject investigated or applied project undertaken, its significance to theory or business practice, the research or project background, a well-defined method, results or findings, and their implications.

EC446 Dynamic Stochastic General Equilibrium Modelling

The module explains and predicts co-movements of aggregate time series over the business cycle and to perform policy analysis. Emphasis is on explaining how to use DSGE models for all three purposes – forecasting, storytelling, and policy experiments – and review their forecasting record. Module content includes introduction to DSGE Models, New Keynesian Models, Small Open Economy Models, Extensions to New Keynesian Models, Kalman Filter and Estimation Methods, and Practical Application of DSGE Models. By the end of this module, students should be able to address a wide range of theoretical research questions, analyse, forecast, and simulate policy issues in response to exogenous shocks.