SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Apply economic principles to finance and management decisions 
SAQA US ID UNIT STANDARD TITLE
119340  Apply economic principles to finance and management decisions 
ORIGINATOR
SGB Public Administration and Management 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Public Administration 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5  15 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
Learners working towards this standard will be working within a Public Sector environment, specialising in Public Finance Management and Administration, where the acquisition of competence against this standard will add value to one's job. This standard will also add value to public officials who are seeking to develop a career pathway towards becoming an accomplished public finance management and administration specialist.

The qualifying learner is capable of:
  • Demonstrate an understanding of the principles of economics as they apply to public finance
  • Distinguish between micro-economics and macro-economics
  • Discuss the impact of micros and macro-economics on the activities of the South African economy
  • Utilise economic indicators and theories to determine current economic cycle and possible future directions 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Learners accessing this Unit Standard must be in possession of a Further Education and Training Certificate or equivalent qualification 

    UNIT STANDARD RANGE 
    N/A 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Demonstrate an understanding of the principles of economics as they apply to public finance. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The economic cycle is explained in terms of recession, depression, recovery and boom 

    ASSESSMENT CRITERION 2 
    The concepts of demand, supply, equilibrium are explained and illustrated graphically 

    ASSESSMENT CRITERION 3 
    The concepts of nominal and effective/real are compared with reference to interest rates and GDP (Gross Domestic Product) 

    ASSESSMENT CRITERION 4 
    Central economic problems and characteristics of different kinds of goods are discussed with reference to the South African economy 

    ASSESSMENT CRITERION 5 
    The interdependencies among different sectors of the economy, markets and economic flows are illustrated 

    SPECIFIC OUTCOME 2 
    Distinguish between micro-economics and macro-economics. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Concepts used to distinguish micro-economics and macro-economics are explained and clearly illustrated 

    ASSESSMENT CRITERION 2 
    The impact of micro-economics and macro-economics in relation to the activities of the South African economy are discussed 

    ASSESSMENT CRITERION 3 
    The various criteria used to measure the performance of the economy are explained with reference to selected macro-economic objectives 

    ASSESSMENT CRITERION 4 
    Apply trends of micro-and macro-economic environment to the public sector 

    SPECIFIC OUTCOME 3 
    Describe the use of economic indicators. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The concept of inflation is explained in terms of headline inflation, core inflation, CPIX, deflation and disinflation 

    ASSESSMENT CRITERION 2 
    The concept of GDP is explained in terms of consumer expenditure, government expenditure, investment and export minus trade balance 

    ASSESSMENT CRITERION 3 
    The concept of interest rates is explained in terms of prime, money markets, repro and borrowing rates 

    ASSESSMENT CRITERION 4 
    The concept of an economic indicator is explained and an indication is given of the relationship between inflation, GDP, interest rates, money supply, debt, currency, current account, trade account, gold and oil 

    SPECIFIC OUTCOME 4 
    Utilise economic indicators, theories and principles to determine the current economic cycle and possible future directions. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Illustrations and representations of economic theory is carried out in words, numbers, equations and graphs 

    ASSESSMENT CRITERION 2 
    Economic principles under supply and demand relationships are used to analyse developments in different markets 

    ASSESSMENT CRITERION 3 
    Individual consumer's choice between consumer goods and services is analysed in order to derive individual demand curve using utility theory 

    ASSESSMENT CRITERION 4 
    Basic production and cost concepts are applied in the analysis of the decisions of economic agents 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    1. Any individual wishing to be assessed (including through RPL) against this unit standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
    2. Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
    3. Any institution offering learning that will enable achievement of this unit standard or assessing this unit standard must be accredited as a provider with the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
    4. Moderation of assessment will be conducted by the relevant ETQA at its discretion. 

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    The learner must demonstrate an understanding of:
  • Sources of economic data, including hard copy, news media, electronic, public databases
  • Report writing
  • Presentation skills
  • Economic indicators
  • Basic principles of micro-economics and macro-economics
  • Public finance legislation 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems using critical and creative thinking processes to interpret economic principles, theories and indicators 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team, group, organization or community to gain feedback on economic trends and developments 

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one's activities responsibly and effectively in order to gather information relating to economics for integration into one's specific job context 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organize and crtically evaluate information in order to distinguish between micro-economic and macro-economic trends as they apply to the public sector 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and/or language in the modes of oral and/or written persuasion to present economic theories as they relate to the public sector 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology effectively and critically, showing responsibility to the environment and health of others in obtaining economic information 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of interrelated systems by recognising that problem-solving contexts relating to economics do not exist in isolation and that there are interdependencies among different sectors of the economy, markets and economic flows 

    UNIT STANDARD CCFO CONTRIBUTING 
    Participating as responsible citizens in the life of local, national and global communities by analyzing economics and integrating the principles into all spheres of life 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Fundamental  49554   National Diploma: Public Finance Management and Administration  Level 5  NQF Level 05  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  LG SETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. A4 Consultancy CC 
    2. Abacwaningi Business Solutions 
    3. Amabamba Recruitment 
    4. AVAX SA 481 CC. T/A Mandisa Development Services 
    5. Buena Vista Learning Academy 
    6. Christian Campus Bible College 
    7. Edequette Training Institute 
    8. Excellent Minds Institute (Pty) Ltd 
    9. Giamanje TVET College 
    10. Growth Management Consulting 
    11. Hamonate Consulting 
    12. IQ Skills Academy (PTY) LTD. 
    13. Jobafrik Consulting 
    14. Jojo Training Institute 
    15. Josmap Training Institute 
    16. KOKANO PROJECTS PTY LTD 
    17. KYM MANAGEMENT CONSULTING 
    18. Lewerb Holdings (PTY) Ltd 
    19. Mafamawethu Consultants 
    20. Makoti Skills Development Solutions 
    21. Mamuhle Academy 
    22. MANCOSA Pty (Ltd) 
    23. Maritime Business Institute 
    24. MARS Business Consulting 
    25. MATEPE INVESTMENTS (PTY) LTD 
    26. Morar Incorporated - KZN 
    27. Mortarboard Training Solutions 
    28. MTK Corporate Solutions 
    29. Ndwamato Training Solutions (Pty) Ltd 
    30. Nemalale Eagles Consultancy CC 
    31. Pachedu Skills Solutions 
    32. Pachi Global Foundation 
    33. Pebetse Training and Consulting 
    34. Petra Institute of Development 
    35. PFIM Trading (Pty) Ltd 
    36. PMA Holdings (PTY ) LTD. 
    37. Progressive School of Business and Engineering (Pty) 
    38. PTDEV (Pty) Ltd 
    39. Reflections Development Institute 
    40. Regent Business School (Pty) Ltd t/a Regent Business School 
    41. Resonance Institue of Learning 
    42. Silalele Consulting CC. 
    43. Siletha Consultant 
    44. Siza Nesu Training and Consultants 
    45. South African Corporate Training Association 
    46. Tachfin Holdings 
    47. Tasc Business Consulting and Training 
    48. Tloumogale Business Development & Consulting 
    49. Transafric Consulting Pty Ltd 
    50. Tshepang Consulting & Project 
    51. TWINMARK STRATEGY AND MANAGEMENT CONSULTANTS 
    52. Umqondo Consultancy 
    53. UNIVERSITY OF BUSINESS EXCELLENCE(PTY)LTD 
    54. University of Pretoria 
    55. University of Venda 
    56. Ursivox Interactive Systems 
    57. WEINVEST INVESTMENT CC 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.