Open University

Diploma in Economics

Knowledge and understanding

On completion of this diploma, you will have the knowledge and understanding of:

• Key concepts, methods, theories and debates in economics from a pluralist perspective
• Theories of economic behaviour of firms, individuals, markets and governments at the micro and macroeconomic levels, and the rationale for economic policies
• Concepts and techniques of statistical data analysis applied to economic data and issues.

Cognitive skills

On completion of this diploma, you will be able to:

• Appropriately and critically use economic concepts, theories, methods and evidence to analyse socio-economic issues and construct economic arguments
• Understand, evaluate and manipulate information presented through primary and secondary sources and statistical analysis, and use modern statistical software appropriately
• Integrate diagrammatic, mathematical, statistical and verbal analysis of economic issues
• Plan and undertake a piece of personal research in the area of economics, making use of appropriate documentary, statistical or field-based sources and utilising appropriate methodologies.

Practical and/or professional skills

On completion of this diploma, you will be able to:

• Appraise, monitor and reflect constructively on your own personal progress, use skills to improve your own learning and performance, including learning from feedback, and identify your own strengths, weaknesses and preferences relating to work and other interests
• Plan workload and meet deadlines over an extended period of time under increasing levels of pressure
• Work independently to analyse a research question using quantitative and/or qualitative data
• Engage in collaborative activity with others

Key skills

On completion of this diploma, you will be able to demonstrate the following skills:

• Use and communicate economic ideas clearly and coherently, using appropriate technical and non-technical language, and using a form, structure and style that suits the purpose
• Select, interpret and synthesise data from a range of sources, including qualitative and quantitative data, and evaluate its significance
• Interpret economic and statistical data presented in tabular, chart and graphic form, and select appropriate data analysis tools and methods to analyse economic issues being aware of their limitations
• Search, process and prepare information using ICT applications, such as statistical software packages, websites, databases and interactive and multimedia applications, and integrate this information within established understandings, or show how it challenges them.

This diploma has one stage comprising 120 credits.

Stage 1

You'll study both of the following:

• Essential economics: macro and micro perspectives (D217)
• Doing economics: people, markets and policy (DD309)

Assessment

Our assessments are all designed to reinforce your learning and help you show your understanding of the topics. The mix of assessment methods will vary between modules.

Computer-Marked Assignments

• Usually, a series of online, multiple-choice questions.

Tutor-Marked Assignments

• You’ll have a number of these throughout each module, each with a submission deadline.
• They can be made up of essays, questions, experiments or something else to test your understanding of what you have learned.
• Your tutor will mark and return them to you with detailed feedback.

End-of-Module Assessments

• The final, marked piece of work on most modules.
• Modules with an end-of-module assessment won’t usually have an exam.

Exams

• Some modules end with an exam. You’ll be given time to revise and prepare.
• You’ll be given your exam date at least 5 months in advance.
• Most exams take place remotely, and you will complete them at home or an alternative location.
• If a module requires you to take a face-to-face exam, this will be made clear in the module description, and you will be required to take your exam in person at one of our exam centres.

Skills for career development

This qualification will equip you with knowledge and skills in economics and statistics useful for a range of jobs. You’ll learn how to analyse economic data using specialised software; how to construct economic arguments using concepts, theories, models and evidence; how to think analytically and critically; how to work collaboratively; and how to carry out independent research. These highly transferable skills are in great demand in the workplace, and are relevant to a great variety of situations – whether you’re already working, volunteering or changing careers.

Career relevance

Whatever your prior higher education qualification, the skills and knowledge demonstrated by this diploma are highly valued in many workplaces. Economists successfully apply their knowledge and skills in many different jobs in government, business, accountancy, banking, economics, data analysis, financial analysis, insurance, management and administration, consultancy, the voluntary sector and teaching.

• Economist
• Data Analyst
• Manager
• Researcher
• Financial Analyst
• Stockbroker
• Investment Analyst
• Marketing Manager
• Management Consultant
• Banker
• Lecturer
• Teacher

With our unique approach to distance learning, you can study from home, work or on the move.

You’ll have some assessment deadlines to meet, but otherwise, you’ll be free to study at the times that suit you, fitting your learning around work, family, and social life.

For each of your modules, you’ll use either just online resources or a mix of online and printed materials.

Each module you study will have a module website with

• A week-by-week study planner, giving you a step-by-step guide through your studies
• Course materials such as reading, videos, recordings, and self-assessed activities
• Module forums for discussions and collaborative activities with other students
• Details of each assignment and their due dates
• A tutorial booking system, online tutorial rooms, and your tutor’s contact details
• Online versions of some printed module materials and resources.