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Doing economics: people, markets and policy

This module teaches economic theories that explain the behaviour of people in households, firms, markets and governments. You'll be presented with alternative economic explanations, enabling you to make your own critical judgements of which theory serves which purpose best. You'll also gain the research skills to conduct your own project on a topic you want to know more about. At the end of the module, you should have developed a more critical view of the socio-economic world in which you live.

Modules count towards OU qualifications

OU qualifications are modular in structure; the credits from this undergraduate module could count towards a certificate of higher education, diploma of higher education, foundation degree or honours degree.

Browse qualifications in related subjects

Module

Module code

DD309

Credits

Credits

  • Credits measure the student workload required for the successful completion of a module or qualification.
  • One credit represents about 10 hours of study over the duration of the course.
  • You are awarded credits after you have successfully completed a module.
  • For example, if you study a 60-credit module and successfully pass it, you will be awarded 60 credits.
60

Study level

Across the UK, there are two parallel frameworks for higher education qualifications, the Framework for Higher Education Qualifications in England, Northern Ireland and Wales (FHEQ) and the Scottish Credit and Qualifications Framework (SCQF). These define a hierarchy of levels and describe the achievement expected at each level. The information provided shows how OU module levels correspond to these frameworks.
Level of Study
OU SCQF FHEQ
3 10 6

Study method

Distance Learning

Module cost

See Module registration

Entry requirements

See Entry requirements

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Module details Entry requirements Module registration Study materials

What you will study

The module will equip you with the theoretical tools necessary to investigate recent developments in the global economy. A pluralist view of economic theory is adopted, enabling you to appreciate the debates between different approaches.

The module begins by teaching intermediate microeconomics with an emphasis on both economic theory and its applications. It is made up of the following three blocks plus an introduction to the methods used by economists to test the relevance of their models using data. 

Block 1: People and Households
You'll learn about the economic theories that apply to decisions taken in various contexts, such as consumption, labour market participation, savings, and investment in education and training. You'll also look at how households, as well as individuals, can make decisions.

Block 2: Firms and Industries
This block is about efficiency and productivity in the production of goods and services. It covers issues about choice of technology, entrepreneurship, innovation, employment relations, outsourcing and competition policy.

Block 3: Markets and Welfare
The final block covers the overall organisation of the economy. It investigates the strengths and weaknesses of markets and governments in the organisation of economic activities, explores issues concerning the environment and ethics, and looks at economic theory that underpins government behaviour.

The second part of the module is project-based and divided into Blocks 4 and 5, plus some weeks to carry out your project; you will be able to specialise in an area of your choice and carry out your own research project. 

Block 4: Options
This block teaches further economic theory and the various applications. You'll choose one theoretical strand to focus on from environmental economics, business and innovation, economics and society, or finance. You'll also start the journey towards your research project by learning the main components of the project and how to carry out a literature review.

Block 5: Research methods
In this block, you'll choose which research methods you plan to use for your project and learn more about those methods. You can choose between qualitative methods – which include interviewing and case studies – and quantitative methods, which involve analysis of economic data.

Project Work
In the last weeks of the module, you'll work towards completing a project of your choice which will be your end-of-module assessment.

Teaching and assessment

Support from your tutor

You will have a tutor who will help you with the study material and mark and comment on your written work, and who you can ask for advice and guidance.

We aim to provide online tutorials and recordings of these will typically be made available. While you’re not obliged to attend any of these tutorials, you are strongly encouraged to take part.

Contact us if you want to know more about study with The Open University before you register.

Assessment

The assessment details for this module can be found in the facts box.

Future availability

Doing economics: people, markets and policy starts once a year – in October. This page describes the module that will start in October 2024 when we expect it to start for the last time. A replacement module is planned for October 2025.

Regulations

As a student of The Open University, you should be aware of the content of the academic regulations which are available on our Student Policies and Regulations website.

Course work includes:

5 Tutor-marked assignments (TMAs)
1 Interactive computer-marked assignment (iCMA)
End-of-module assessment


Entry requirements

This is an OU level 3 module. OU level 3 modules build on study skills and subject knowledge acquired from studies at OU levels 1 and 2. They are intended only for students who have recent experience of higher education in a related subject, preferably with the OU.

We strongly recommend that you study Essential economics: macro and micro perspectives (D217)  or an alternative introductory economics module before studying this module.

If you have any doubt about the suitability of the module, please speak to an adviser.

Register

Start End Fee
- - -

No current presentation - see Future availability
This module is expected to start for the last time in October 2024.

Additional Costs

Study costs

There may be extra costs on top of the tuition fee, such as set books, a computer and internet access.

If your income is not more than £25,000 or you are in receipt of a qualifying benefit, you might be eligible for help with some of these costs after your module has started.

Ways to pay for this module

Open University Student Budget Account

The Open University Student Budget Accounts Ltd (OUSBA) offers a convenient 'pay as you go' option to pay your OU fees, which is a secure, quick and easy way to pay. Please note that The Open University works exclusively with OUSBA and is not able to offer you credit facilities from any other provider. All credit is subject to status and proof that you can afford the repayments.

You pay the OU through OUSBA in one of the following ways:

  • Register now, pay later – OUSBA pays your module fee direct to the OU. You then repay OUSBA interest-free and in full just before your module starts. 0% APR representative. This option could give you the extra time you may need to secure the funding to repay OUSBA.
  • Pay by instalments – OUSBA calculates your monthly fee and number of instalments based on the cost of the module you are studying. APR 5.1% representative.

Joint loan applications

If you feel you would be unable to obtain an OUSBA loan on your own due to credit history or affordability issues, OUSBA offers the option to apply for a joint loan application with a third party. For example, your husband, wife, partner, parent, sibling or friend. In such cases, OUSBA will be required to carry out additional affordability checks separately and/or collectively for both joint applicants who will be jointly and severally liable for loan repayments.

As additional affordability checks are required when processing joint loan applications, unfortunately, an instant decision cannot be given. On average the processing time for a joint loan application is five working days from receipt of the required documentation.

Read more about Open University Student Budget Accounts (OUSBA).  

Employer sponsorship

Studying with The Open University can boost your employability. OU courses are recognised and respected by employers for their excellence and the commitment they take to complete. They also value the skills that students learn and can apply in the workplace.

More than one in ten OU students are sponsored by their employer, and over 30,000 employers have used the OU to develop staff so far. If the module you’ve chosen is geared towards your job or developing your career, you could approach your employer to see if they will sponsor you by paying some or all of the fees. 

  • Your employer just needs to complete a simple form to confirm how much they will be paying and we will invoice them.
  • You won’t need to get your employer to complete the form until after you’ve chosen your module.  

Credit/debit card

You can pay part or all of your tuition fees upfront with a debit or credit card when you register for each module. 

We accept American Express, Mastercard, Visa and Visa Electron. 

Mixed payments

We know that sometimes you may want to combine payment options. For example, you may wish to pay part of your tuition fee with a debit card and pay the remainder in instalments through an Open University Student Budget Account (OUSBA).


Please note: your permanent address/domicile will affect your fee status and therefore the fees you are charged and any financial support available to you. The fee information provided here is valid for modules starting before 31 July 2024. Fees normally increase annually. For further information about the University's fee policy, visit our Fee Rules

This information was provided on 28/11/2023.

Can you study an Access module for free?

In order to qualify, you must:

  1. be resident in England
  2. have a personal income of less than £25,000 (or receive qualifying benefits)
  3. have not completed one year or more on any full-time undergraduate programme at FHEQ level 4 or above, or completed 30 credits or more of OU study

How to apply to study an Access module for free

Once you've started the registration process, either online or over the phone, we'll contact you about your payment options. This will include instructions on how you can apply to study for free if you are eligible.

If you're unsure if you meet the criteria to study for free, you can check with one of our friendly advisers on +44 (0)300 303 0069 or you can request a call back.

Not eligible to study for free?

Don't worry! We offer a choice of flexible ways to help spread the cost of your Access module. The most popular options include:

  • monthly payments through OUSBA
  • part-time tuition fee loan (you'll need to be registered on a qualification for this option)

To explore all the options available to you, visit Fees and Funding.

What's included

You’ll be provided with printed module books, each covering one block of study, and have access to a module website, which includes:

  • a week-by-week study planner
  • module materials
  • audio and video content
  • assessment guide
  • online tutorials and forums.

Computing requirements

You’ll need broadband internet access and a desktop or laptop computer with an up-to-date version of Windows (10 or 11) or macOS (11 'Big Sur' or higher).

Any additional software will be provided or is generally freely available.

To join in spoken conversations in tutorials, we recommend a wired headset (headphones/earphones with a built-in microphone).

Our module websites comply with web standards, and any modern browser is suitable for most activities.

Our OU Study mobile app will operate on all current, supported versions of Android and iOS. It’s not available on Kindle.

It’s also possible to access some module materials on a mobile phone, tablet device or Chromebook. However, as you may be asked to install additional software or use certain applications, you’ll also require a desktop or laptop, as described above.

If you have a disability

The OU strives to make all aspects of study accessible to everyone and this Accessibility Statement outlines what studying DD309 involves. You should use this information to inform your study preparations and any discussions with us about how we can meet your needs.

To find out more about what kind of support and adjustments might be available, contact us or visit our Disability support website.