UNIVERSITY OF CANTERBURY
Te Whare Wānanga o Waitaha
Template 7: Graduating Year Review Template 2011
Details
Current Year
2011
Name of Programme
Postgraduate Diploma in Economics
Original Programme Identifier
UC07 PGDipEcon
Name of Self-Review Coordinator
Paul Ballantyne (HoD, Department of Management)
Programme Statement
Description
The Postgraduate Diploma in Economics was introduced in 2008 as a consequential change in the structure of the
Honours and Master’s degrees in Economics that returned those degrees to their original conception in which an Honours
degree was an accelerated degree containing the 1 EFT of course work (Masters Part I) plus a 0.25 EFT research paper in
a single year. In decoupling Master’s Part I from Honours, there was a need to create a qualification with which a student
could graduate if he or she completed the 1 EFT of coursework (Master’s Part I) but was not able to continue to Part II.
In the original proposal, the Department also envisaged that the PGDipEcon could also be used as a probationary year for
students who wanted to complete a research degree but where it was not clear if they had the appropriate skills.
The Graduate Profile for the PG Diploma in Economics is:
Graduates can demonstrate in-depth knowledge and understanding of current theoretical concepts and frameworks within
economics or finance.
Graduates are able to think logically, analytically and critically with respect to the academic literature in economics or
finance.
Graduates are able to synthesise academic or professional literature and effectively communicate research orally and in
written form.
Graduates who obtain the required GPA are prepared to undertake research-based study.
Achievement
To this point, only a single student has enrolled for and completed the PGDipEcon. This student entered the postgraduate
diploma with a view to continuing on to Master’s Part II.
It seems that the overwhelming preference of domestic students is to complete a one-year Honours degree rather than a
two-year Master’s degree, as the latter offers no advantages over the former in the New Zealand job market for economics
graduates. International students have a preference for a Master’s degree, but prefer to study at an institution offering oneyear Master’s degrees.
Changes
There have been no changes to the regulations for the Postgraduate Diploma in Economics.
Review Processes
E
Account of Review Processes
The Review committee comprised Paul Ballantyne (HoD, Department of Management), Seamus Hogan (Department of
Economics and Finance) and Beverly Lord (HoD, Department of Accounting and Information Systems).
The PGDipEcon is a placeholder qualification that exists primarily as an option value to students electing to enrol directly
for a two-year Master’s degree rather than enrolling first for a Bachelors with Honours degree and then proceeding
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directly to Master’s Part II. As such, it comprises the same components as Master’s Part I and the coursework part of
Honours, and uses no resources that are not already committed to those degrees. Accordingly, this review process has
primarily consisted of consultation with key members of the Department of Economics and Finance. The view of the
Department is that, although the PGDipEcon has only attracted a single student so far, it will be useful to keep the
qualification on the books, at least until there is certainty about what the criteria for one-year taught Masters degrees will
be in the future. The review committee fully supports this view and recommends continuation of the diploma.
Review Outcomes
E
Acceptability
The academic content and quality of the PGDipEcon courses is reviewed annually by the Economics and Finance
Department, in accordance with normal curricula review processes. All Commerce courses and programmes are
developed and reviewed in consultation with academic colleagues in NZ and overseas, as well as external stakeholders
including members of the College of Business and Economics Advisory Board and external accreditation bodies such as
AACSB.
Assessment procedures and student performance
The courses from which students select eight in order to complete a PGDipEcon have a range of assessment procedures,
appropriate to the material being taught. Most but not all have a final examination; most involve an essay or some kind of
within-semester independent project; many involve class presentations or have some form of assessment based on class
participation. Although no single course in the programme assesses every key skill, the portfolio of courses is such that all
students will, by necessity, have been required to do some written work, have done some oral presentation, undertaken
some independent learning, and have mastered material with a high level of quantitative reasoning.
Data
Table 1: Numbers enrolling and completing
Projected
Year
No.
Actual No. Enrolled
Enrolling
Full-time
Parttime
EFTS
No.
Completed
Withdrawals
1
0
1
1
0
2008
2009
2010
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Table 2: Distribution of grades (for final year courses)
Year
Course
Title
No
Enrolled
1
No
Completed
1
2010
ECON601
2010
ECON603
Advanced
Econometrics 1
Microeconomics 1
1
1
2010
ECON605
Macroeconomics 1
1
1
2010
ECON607
Contract Theory
1
1
2010
ECON643
International Finance
1
1
2010
ECON654
1
1
2010
ECON663
Industrial
Organisation
Econometrics 1
1
1
2010
ECON664
Econometrics 2
1
1
A+
A-
B+
B
B-
C+
Fail
1
1
1
1
1
1
1
1
Programme Evaluation
The Panel heard that the Department of Economics and Finance has been investigating partnerships with overseas
universities to bring in qualified students to complete a Master’s thesis following a year of courses to fill specific gaps in
the students’ background. To this end, they consider it would be useful to amend the regulations for the Postgraduate
Diploma in Economics slightly to allow a 30-point research course in lieu of two 15 point courses. This will depend,
however, on what other changes are made to the Department’s graduate offerings which are in part contingent on the
outcomes of discussions at the national level about changes to the nature of one-year Master’s degrees. Accordingly, at
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this stage no changes are being proposed.
At the time that the report to CUAP was made introducing the Postgraduate Diploma which was created from existing
courses no figures predicting student enrolments were included.
The Postgraduate Diploma has value as an option for students contemplating a two-year Master’s degree and uses no
additional resources; it is therefore a valuable qualification to keep alongside the Honours and Master’s degrees offered
by the Department.
Continuation or Discontinuation
The review panel recommends continuation of this qualification.
The Acting PVC and Dean, College of Business and Economics was asked to comment on the Review. He noted that
notwithstanding the arguments advanced by the Panel, in the context of the low number of enrolments and that if the need
should arise for such a programme in the future then it may be reintroduced (in an appropriate form), he recommended
that the Postgraduate Diploma in Economics qualification be discontinued.
A proposal will be placed before Faculty that the qualification be discontinued.
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