M.com Economics Book Pdf
Xiaoqi Hauge
Both M.Com (Master of Commerce) and M.A. (Master of Arts) Economics are postgraduate degree courses completed in a duration of two years. But there are many factors that will help you decide which is the best for you.
When B.Com (Bachelor of Commerce) graduates consider pursuing a postgraduate degree, one common question that arises is whether to opt for M.Com (Master of Commerce) or M.A. Economics (Master of Arts in Economics) . If you find yourself in a similar dilemma, this is the right place to seek guidance and make an informed decision about your future. By comparing the similarities and differences between these two programs, you can evaluate which one aligns better with your interests and career aspirations.
Both M.Com and M.A. Economics are postgraduate degrees that span a duration of two years. While economics influences our daily decision-making, accounting and commerce provide insights into how businesses impact the economy, directly or indirectly. Hence, choosing between M.A. Economics and M.Com depends on your personal interest and inclination towards a particular field.This article presents a comprehensive comparison of these two programs, covering aspects such as curriculum, syllabus, career prospects, salary packages, and more. By reviewing the content below, you can determine which option suits you best.
Lawrence is a health economist with more than 18 years of experience conducting applied research on the economic impact of HIV, TB and associated conditions within South Africa and the region. He is currently a Research Associate Professor at the Boston University School of Public Health (Boston, USA) and holds a joint appointment at the University of Witwatersrand (Johannesburg, South Africa). Prior to this he led a growing South African research group as the deputy director and has extensive experience in organizational management, leadership and grant management. Lawrence has training in economics, finance, mathematics, research methodology and behavioral science. He is the principal investigator of a number of research projects and has published widely in peer reviewed publications. He is currently the principal investigator of an NIH K01 award entitled: "Using behavioral economics to improve the uptake of and persistence on pre-exposure prophylaxis in men who have sex with men to prevent HIV infection" and research faculty on Indlela, a Gates funded program to build behavioral economics capacity for HIV in South Africa.
Moolla A, Constance M, Ngcobo N, Mngadi S, Govathson C, Long L, Pascoe SJ. "I want one nurse who is friendly to talk to me properly like a friend": Learner preferences for HIV and contraceptive service provision in Gauteng, South Africa. Res Sq. 2023 Dec 12. PMID: 38168214.
Hendrickson C, Hirasen K, Mongwenyana C, Benade M, Bothma R, Smith C, Meyer J, Nichols B, Long L. Costs and outcomes of routine HIV oral pre-exposure prophylaxis implementation across different service delivery models and key populations in South Africa. medRxiv. 2023 Aug 16. PMID: 37645864.
Bokolo S, Mabaso S, Kruger W, Mistri P, Schmucker L, Chetty-Makkan C, Pascoe SJS, Buttenheim A, Thirumurthy H, Long L. Applying behavioural economics principles to increase demand for free HIV testing services at private doctor-led clinics in Johannesburg, South Africa: A randomised controlled trial. medRxiv. 2023 Aug 09. PMID: 37609154.
With a Master of Commerce (MCom) in Economics or International Trade, or a Master of Science (MSc) in Agricultural Economics from the North-West University, you will encounter many exciting opportunities. You could, for example, deepen your knowledge by pursuing a PhD and/or taking up a position at an academic research institution, or you could seek a high-level position in the public or private sector. Either one of our three Master's degree options will immerse you in stimulating and topical subject matter, while also giving you a thorough understanding of advanced research methodologies and techniques. In compiling your dissertation you will apply these skills to a topic of your choice, thereby affording you the opportunity to make your own unique contribution to the field of economics, international trade or agricultural economics. The members of our faculty, which includes NRF-rated researchers, all have impressive academic and research credentials, so you know you will be in good hands at the NWU/TRADE!
Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyses what is viewed as basic elements within economies, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and investment expenditure interact, and factors affecting it: factors of production, such as labour, capital, land, and enterprise, inflation, economic growth, and public policies that have impact on these elements. It also seeks to analyse and describe the global economy.
Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocating "what ought to be";[5] between economic theory and applied economics; between rational and behavioural economics; and between mainstream economics and heterodox economics.[6]
Economic analysis can be applied throughout society, including business,[7] finance, cybersecurity,[8] health care,[9] engineering[10] and government.[11] It is also applied to such diverse subjects as crime,[12] education,[13] the family,[14] feminism,[15] law,[16] philosophy,[17] politics, religion,[18] social institutions, war,[19] science,[20] and the environment.[21]
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics".[22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager". Derived terms such as "economy" can therefore often mean "frugal" or "thrifty".[23][24][25][26] By extension then, "political economy" was the way to manage a polis or state.
There are a variety of modern definitions of economics; some reflect evolving views of the subject or different views among economists.[27][28] Scottish philosopher Adam Smith (1776) defined what was then called political economy as "an inquiry into the nature and causes of the wealth of nations", in particular as:
a branch of the science of a statesman or legislator [with the twofold objectives of providing] a plentiful revenue or subsistence for the people ... [and] to supply the state or commonwealth with a revenue for the publick services.[29]
Jean-Baptiste Say (1803), distinguishing the subject matter from its public-policy uses, defined it as the science of production, distribution, and consumption of wealth.[30] On the satirical side, Thomas Carlyle (1849) coined "the dismal science" as an epithet for classical economics, in this context, commonly linked to the pessimistic analysis of Malthus (1798).[31] John Stuart Mill (1844) delimited the subject matter further:
The science which traces the laws of such of the phenomena of society as arise from the combined operations of mankind for the production of wealth, in so far as those phenomena are not modified by the pursuit of any other object.[32]
Economics is a study of man in the ordinary business of life. It enquires how he gets his income and how he uses it. Thus, it is on the one side, the study of wealth and on the other and more important side, a part of the study of man.[33]
Robbins described the definition as not classificatory in "pick[ing] out certain kinds of behaviour" but rather analytical in "focus[ing] attention on a particular aspect of behaviour, the form imposed by the influence of scarcity."[35] He affirmed that previous economists have usually centred their studies on the analysis of wealth: how wealth is created (production), distributed, and consumed; and how wealth can grow.[36] But he said that economics can be used to study other things, such as war, that are outside its usual focus. This is because war has as the goal winning it (as a sought after end), generates both cost and benefits; and, resources (human life and other costs) are used to attain the goal. If the war is not winnable or if the expected costs outweigh the benefits, the deciding actors (assuming they are rational) may never go to war (a decision) but rather explore other alternatives. Economics cannot be defined as the science that studies wealth, war, crime, education, and any other field economic analysis can be applied to; but, as the science that studies a particular common aspect of each of those subjects (they all use scarce resources to attain a sought after end).
Some subsequent comments criticised the definition as overly broad in failing to limit its subject matter to analysis of markets. From the 1960s, however, such comments abated as the economic theory of maximizing behaviour and rational-choice modelling expanded the domain of the subject to areas previously treated in other fields.[37] There are other criticisms as well, such as in scarcity not accounting for the macroeconomics of high unemployment.[38]
Gary Becker, a contributor to the expansion of economics into new areas, described the approach he favoured as "combin[ing the] assumptions of maximizing behaviour, stable preferences, and market equilibrium, used relentlessly and unflinchingly."[39] One commentary characterises the remark as making economics an approach rather than a subject matter but with great specificity as to the "choice process and the type of social interaction that [such] analysis involves." The same source reviews a range of definitions included in principles of economics textbooks and concludes that the lack of agreement need not affect the subject-matter that the texts treat. Among economists more generally, it argues that a particular definition presented may reflect the direction toward which the author believes economics is evolving, or should evolve.[28]
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