UNISA

Bachelor of Commerce Honours: Financial Modelling

Business, Commerce and Management Studies - Finance Economics and Accounting

Purpose and Rationale

Qualification Overview

Purpose:

The purpose of this qualification is to equip qualifying learners with a range of technical, scientific, and research skills in Operations Research and Financial Modelling. This prepares them for research-based postgraduate studies and enables them to pursue a career in industry and commerce.

Rationale:

There is a growing demand in both the private sector and academic sector for a Bachelor of Commerce Honours Degree in Financial Modelling. This qualification follows the Bachelor of Commerce Degree and holds significant market value and academic standing. It aims to provide high-quality academic and career-focused postgraduate learning and research opportunities. By integrating techniques from Operations Research into financial modelling, learners can build abstract representations (mathematical models) to solve complex financial decision-making situations, many of which involve uncertainty. This program will contribute to the development of research capacity and critical scholarship among postgraduate learners.

Outcomes

  1. Engage in critical and creative thinking showing a comprehensive and systematic knowledge basis, having a coherent and critical understanding of the principles, theories and research methods of Operations Research and Financial Modelling.
  2. Apply appropriate Operations Research and Financial Modelling skills and techniques to complex and real-world problems and operate effectively in complicated but sometimes ill-defined contexts.
  3. Plan and conduct research in the field of Financial Modelling, by utilising the relevant theoretical research principles and reflecting on the research undertaken.
  4. Demonstrate the ability to think contextually, i.e., reflect on learning from individual experience and academic disciplines in relation to scientific, technological and economic realities, locally and globally.
  5. Demonstrate efficient and effective information retrieval and processing skills and the ability to effectively present and communicate academic work.
  6. Manage learning tasks autonomously, professionally and ethically and display a high level of intellectual independence. Critical Cross-Field Outcomes: This qualification promotes, in particular, the following Critical Cross-Field Outcomes: Identify and solve problems and make decisions using critical and creative thinking: It is expected from the learner to display the ability to applying comprehensive mathematical principles, methodologies and techniques to do the analytical consultation for all levels of management in organisations, as is customarily expected from an operations researcher in financial modelling. Work effectively with others as members of a team, group, organisation or Community: It is expected from the learner to be able and willing to accept work instructions for multidisciplinary projects, to interpret these correctly and to request assistance in an appropriate manner as a member of a team. Organise and manage self and own activities responsibly and effectively: In making the necessary preparations for establishing a proper procedure, the learner must indicate what prerequisites are required and must be able to communicate this in writing. Collect, analyse, organise and critically evaluate information: It is expected from the learner to be able to extract information from various sources and through examination of data relevant to modelling processes. Communicate effectively using visual, mathematical and/or language skills in the modes of oral and/or written presentations: It is expected from the learner to be able to present and communicate information and opinions related to the field of Operations Research and Financial Modelling in well-structured arguments, showing sensitivity for the audience's background and appropriately using academic and professional discourse. Demonstrate an understanding of the world as a set of related systems by recognising that problem-solving contexts do not exist in isolation: It is expected from the learner to be able to identify varying and diverse contexts in which Financial Modelling can be applied. Show capacity to reflect on own learning: It is expected from the learner to be able to operate in variable and unfamiliar learning contexts, requiring responsibility and initiative### a capacity to self-evaluate, identify and address personal learning requirements and to effectively interact in a learning group.

Assessment Criteria

Assessment Criteria for Financial Modelling Project

  1. Technical Writing and LaTeX Usage

    • Apply technical writing techniques effectively.
    • Utilize LaTeX to accurately present text and mathematics.
    • Ensure technical reports are correctly formatted and presented.
  2. Project Formulation and Presentation

    • Choose a relevant and contemporary problem in Financial Modelling.
    • Formulate and solve the project effectively.
    • Present the project report in a clear and structured manner.
  3. Understanding of Stochastic Modelling

    • Demonstrate knowledge of introductory theories of stochastic modelling.
    • Apply stochastic modelling concepts in Markov chains, counting processes, queues, and reliability theory.
    • Acquire background knowledge necessary for constructing models in Operations Research and Financial Modelling.
  4. Derivative Trading and Modelling

    • Understand characteristics of derivatives.
    • Demonstrate knowledge of modelling and pricing derivatives.
    • Apply futures and options in risk management using arbitrage theory and risk-neutral pricing method.
  5. Mathematical Modelling of Portfolio Risk

    • Understand mathematical modelling of portfolio risk and financial price processes.
    • Analyze and interpret portfolio risk using mathematical models.
  6. Forecasting Models

    • Utilize forecasting models to predict outcomes in a data set.
    • Identify the most suitable forecasting model for real-world problems.

Integrated Assessment Approach

  • Knowledge Integration: Integrate knowledge, skills, and attitudes in assessment.
  • Competence Evaluation: Assess applied competence through formative and summative methods.
  • Holistic Evaluation: Evaluate projects based on a comprehensive understanding of Financial Modelling principles.

Qualification Details

Type
Honours Degree
NQF Level
08
Min. Credits
132
SAQA Source
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Description
UNISA, short for the University of South Africa, is a distance education institution based in South Africa. It is the largest university on the African continent and offers a wide range of undergraduate and postgraduate programs in various fields of study. UNISA provides flexible learning options, allowing students to study at their own pace and from anywhere in the world. The university is known for its commitment to providing accessible and affordable education to a diverse student population. UNISA also conducts research and collaborates with other institutions to contribute to the development of knowledge and skills in South Africa and beyond.

This page includes information from the South African Qualifications Authority (SAQA) . Builtneat Pty Ltd trading as Study Start, has modified all or some of this information. SAQA has not approved, endorsed, or tested these modifications.