MASTERS OF COMMERCE IN ECONOMICS DEGREE (MECON)

Overview

1. PREAMBLE

1.1 These regulations shall be read in conjunction with the Faculty of Commerce Regulations and General Academic Regulations for Postgraduate degrees offered by the Midlands State University.

1.2 The degree shall be awarded to candidates who have successfully completed the programme and passed the examinations in accordance with regulations set in the Faculty regulations.

2. OBJECTIVES

2.1 The programme provides an opportunity to obtain a more comprehensive foundation in Economics and added knowledge in specific economic or business related areas.

2.2 The programme aims to develop the sound conceptual, technical, and analytical and communication skills that are required to succeed in the Economics profession. Students will be expected to exercise their analytical abilities and develop effective verbal and written communication skills.

3. ENTRY REQUIREMENTS

To qualify for entry into the Master of Commerce Economics degree programme a student should have an honours degree in Economics, Banking & Finance or related field.

4. CAREER PROSPECTS

Graduates can be absorbed in some of the following organizations and areas; Financial Institutions, Government Departments, Parastatals, Central Bank, private sector firms, non-governmental organizations, regional and international organizations, institutions of higher learning, consultancy firms and high schools among others.

5. DURATION

The programme shall be completed over a minimum of four semesters on a full time block release basis

6. GENERAL PROVISIONS

6.1 Formal examinations will be held at the end of each semester.

6.2 For a student to be admitted to the examinations they must have:

6.3 Satisfactorily attempted approved modules of study including submission of required written assignments.

6.3.1 Attended compulsory classes

6.3.2 Participated in prescribed seminars, tutorials and practical classes.

6.3.3 Paid the prescribed fees in accordance with the General Regulations.

6.3.4 Formal examinations will normally be written papers, but in some cases the examiner may test the candidate orally.

6.3.5 Continuous assessment shall account for 30% of the overall assessment, while the final examination will account for 70% of the overall assessment.

6.4 The aggregate pass mark shall be 50%.

7. SUPPLEMENTARY EXAMINATIONS

7.1 A student who fails to satisfy examiners and obtains a mark less than 50% but not less than 40% may on the recommendation of the Board of Examiners and subject to the approval of the Senate, be permitted to sit for a supplementary examination(s) in the respective module(s) failed in the final semester of the programme.

7.2 Overall assessment of the Supplementary examination will not incorporate continuous assessment. Supplementary examinations shall be marked as “Pass” or “Fail” and the overall maximum mark awarded in a supplementary examination shall be 50%.

8. PROGRESSION

A student retains credit for modules passed.

9. DEGREE CLASSIFICATION

For the purposes of degree classification the parts of the degree programme will be classified as follows:

Level 1 -50%

Level 2 -50% (with dissertation carrying weight equivalent to four taught modules)

10. MARKING SCHEME

The following marking scheme shall be used for all the modules and grading of the degree:

80%-100%Distinction
70%-79%Merit
50%-69%Pass
40- 49%Fail Supplementable
39% and lessFail
11. NOTIFICATION OF RESULTS

Results lists shall be published in accordance with the provisions of the General Regulations.

Programme Structure

12. DEGREE STRUCTURE AND CREDITS
Level 1 Semester 1
CORE MODULES
CodeModule DescriptionCredits
MECO701Advanced Microeconomics A4
MECO702Advanced Macroeconomics A4
MECO703Advanced Mathematics For Economists4
MECO704Advanced Corporate Finance and Investment A4
MECO706Health Economics A4
MECO707Environmental and Ecological Economics A4
Level 1 Semester 2
MECO708Advanced Microeconomics B4
MECO705Advanced Macroeconomics B4
MECO709Advanced Econometrics4
MECO710Advanced Corporate Finance and Investment B4
MECO711Health Economics B4
MECO712Environmental and Ecological Economics B4
Level 2 Semester 1
MECO807Dissertation32
ELECTIVES (At least two electives from the following list)
MECO801Advanced Public Finance A4
MECO802Advanced Agricultural Economics A4
MECO803Advanced Monetary Economics A4
Level 2 Semester 2
MECO807Dissertation32
ELECTIVES (At least two electives from the following list)
(Pre-requisites)Credits
MECO804Advanced Public Finance B (MECO801)4
MECO805Advanced Agricultural Economics B (MECO802)4
MECO806Advanced Monetary Economics B (MECO803)4
12. MODULE SYNOPSES

MECO 701 & MECO 708: ADVANCED MICROECONOMICS A & B

-Recent developments in & links between microeconomic theory and economic policy at micro level.

MECO 702 & 705: ADVANCED MACROECONOMICS A & B

-Recent developments in macroeconomic theory & relationships to economic policy. Modern interpretations of Keynes.

MECO 703 ADVANCED MATHEMATICS FOR ECONOMISTS

The module has the Mathematics component and the econometricscomponent. It enriches the students with some economic insights, intuitions and rudimentary understanding of Economics. It allows the students to master beforehand the relevant mathematical tools. This requires the student to command elementary algebra. The course extensively reviews elementary algebra and also treats a number of other rather elementary topics. It also covers calculus for functions, multivariable optimization problems, linear programming, difference and differential equations and optimal control theory.

MECO709 ADVANCED ECONOMETRICS

Introduces some important tools in modern econometrics and economic statistics including topics in applied econometric time series & topics concerning discrete & limited dependent variable analysis. Strong focus on applied statistical analysis & should be of significant use to advanced level students in their research. Hypothesis testing, linear regression, general linear model, serial correlation, multicollinearity, heteroscedasticity, dummy variables, limited dependent variables & simple dynamic models. Practical problems are solved using Econometric programs like Microfit, PC Give, Stata, Sharzarm, E-views, Rats or equivalent econometrics packages.

MECO704 & MECO 710 ADVANCED CORPORATE FINANCE A & B

Advanced theoretical and empirical aspects of corporate financial management and capital market behaviour. It provides students with techniques for evaluating investments on an individual basis and in the context of portfolio. Techniques for analysis investments focus on maximising expected returns while minimising risk.

MECO706 & MECO 711 HEALTH ECONOMICS A & B

Descriptive and theoretical aspects of health and medical services; demand and supply for health insurance, hospitals, etc; quality v. quantity in services; cost analysis; multiple outputs; evaluation techniques.

MECO707 & MECO 712 ECOLOGICAL & ENVIRONMENTAL ECONOMICS A & B

Selected issues such as market failures, externalities, pollution control, species preservation, natural areas, sustainable development, common property resources, global environmental & natural resources, conservation of renewable & non-renewable resources; evaluation techniques.

MECO 801 & MECO 804 ADVANCED PUBLIC FINANCE

-Analysing theories of government growth, optimal taxation, public goods models, externalities.

MECO802 & MECO805 ADVANCED AGRICULTURAL ECONOMICS

-Discussion of the agricultural household model, agricultural and drought mitigation policies, food security.

MECO 803& MECO 806 ADVANCED MONETARY ECONOMICS

Theoretical topics on exchange rate behaviour & management, current account determination, international capital mobility, effectiveness of fiscal & monetary policies in open economies & select international macro-economic policy issues.

MECO807 DISSERTATION

PLAGIARISM

The University views with the gravest concern the phenomenon of plagiarism and will continue to impose heavy penalties. Plagiarism is the action or practice of taking and using as one’s own the thoughts or writings of another (without acknowledgement). The following practices constitute acts of plagiarism and are a major infringement of the University’s academic values: Where paragraphs, sentences, a single or significant parts of a sentence which are copied directly, are not enclosed in quotation marks and appropriately footnoted; Where direct quotations are not used, but are paraphrased or summarised and the source of the material is not acknowledged either by footnoting or other simple reference within the text of the paper; Where an idea, which appears elsewhere in printed material or film, is used or developed without reference being made to the author or the source of that idea; When a deliberate act of plagiarism is proven, the results of the assignment, exercise or procedure concerned may be annulled and the case referred to the authorities for further action as appropriate.