Qualification Purpose and Rationale
Purpose
The purpose of this qualification is to:
- Develop the applied competence of students at an advanced level in the analysis, interpretation, and application of economic principles and methods.
- Prepare students to reflect on their own economic applications to assess their effects in the holistic context of Economics as a social science.
- Prepare students for further study in Economics as a science.
Rationale
The rationale behind this qualification is:
- To address the need for individuals who can analyze the costs and benefits of distributing and consuming goods and services.
- Economists play a crucial role in conducting research, collecting and analyzing data, monitoring economic trends, and developing forecasts.
- The advancement of knowledge has been a key driver of overall economic growth over long periods, despite the high costs of producing knowledge in relation to risk-adjusted returns.
- Recent studies highlight that the rate of return on research investments tends to increase with the cumulative stock of knowledge.
- This qualification aims to equip students with the necessary knowledge and skills to conduct economics research that positively impacts society.