Open University

Diploma of Higher Education in Economics

Knowledge and understanding

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

• The key concepts, ideas, methods and theories from the discipline of economics from a pluralist perspective
• A range of contemporary debates in economics, particularly as they apply to our understanding of the contemporary social world
• How to apply economic concepts, ideas, methods and theories to analyse economic issues, engage in economic debate, and develop a capacity for critical reading of the specialist economic and business press and the results of economic research
• The ideas and techniques of statistical data analysis and statistical modelling applied to a variety of topics with specific emphasis on economic data and issues

Cognitive skills

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

• Appropriately and critically use economic concepts, theories and evidence to construct economic arguments
• Analyse, compare and evaluate different theoretical approaches, understanding how different approaches work to highlight and explain different aspects of the economy and society
• 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

Practical and professional skills

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

• Apply economic theory and techniques to a variety of applied topics and practical problems
• Appraise, monitor and reflect constructively on your progress, use skills to improve your learning and performance, including learning from feedback, and identify your strengths, weaknesses and preferences relating to work and other interests
• Plan workload and meet deadlines over an extended period under increasing levels of pressure
• Engage in collaborative activity with others
• Plan and review study pathway to link with personal and/or career goals

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 information 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 two stages, each comprising 120 credits.

• Stage 1 will give you the necessary grounding in economics, personal finance, statistics and mathematics.
• Next at Stage 2, you'll cover the core theories and methods in economics and applied statistics.

Stage 1 (120 credits)

You'll study all of the following:

• You and your money (DB125)
• Economics in Context (DD126)
• Discovering mathematics (MU123)
• Introducing statistics (M140)

Stage 2 (120 credits)

You'll study all of the following:

• Essential economics: macro and micro perspectives (D217)
• Analysing data (M248)
• Economics in Practice (DD226)

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 diploma will equip you with the knowledge and skills in economics and statistics that are relevant for a range of jobs. You’ll learn how to use statistical methods and software to analyse economic data; how to construct basic economic arguments using concepts, theories, models and evidence; how to think analytically; and how to work collaboratively. 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

With this qualification, you'll be able to successfully apply your knowledge and skills in various jobs in government, business, accountancy, banking, economics, data analysis, financial analysis, insurance, management and administration, consultancy, the voluntary sector and teaching.

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.