Economics and economic change
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| 6 Tutor-marked assignments (TMAs) | |
| Examination | No residential school |
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Summary
This introduction to contemporary economics explores national and global debates such as: Are we living through a new, ICT-led industrial revolution? What are the economic outcomes of globalisation? Is capitalism environmentally sustainable? Do governments really have the will and capacity to redistribute income? You will investigate a wide range of issues in economic theory including innovation; economic policy and competition; firms’ decision making; market structures; the changing role of the state; poverty and international trade; unemployment and inflation; economic forecasting; and managing the national economy. The course will also enhance your ICT skills through its innovative, multimedia teaching approach, which includes a ‘virtual classroom’.
Course content
The course introduces concepts and techniques associated with new technology, as well as analysing its effects on the economy, enabling you to see yourself as taking part in economic processes that you are also trying to understand. So the course ‘enacts’ the changes that are taking place, presenting about one third of its materials through multimedia, so that you can acquire or develop ICT skills.
It is not only economics that are changing. Economic theory is itself responding to the challenge of rapidly moving events. The course looks at a range of approaches, systematically building up an understanding of economic theorising and offering plenty of opportunities to practise using the ideas, and to think about their application to real problems.
The course is divided into six blocks and two books. In the first book, Microeconomics, Block 1 asks whether there is a new economy or whether it has all happened before. It examines the relationship between new technologies and economic growth. Is ICT a new industrial revolution? Block 1 also introduces the range of activities that constitutes economics: formulating theories, modelling, debate and persuasion, analysis of data, analysing the behaviour of economic institutions such as companies and households, making policy.
Block 2 examines the behaviour of firms within markets and the different forms that competition can take, such as competition on price and competition through innovation. Theory is combined with lots of practical cases and examples, and there is a case study on Microsoft. The block introduces data analysis, to give you some practice in exploring economic relationships.
Block 3 explores issues to do with the well-being of the people who make economics work, as producers and consumers. Do flexible labour markets provide good jobs? Why is the intensity of work effort increasing? The block critically examines material wealth, happiness and sustainability as different interpretations of well-being. How is the role of government changing in furthering people’s well-being? The block concludes with an application of economic theory to health and health care.
In the second book, Macroeconomics, Block 4 introduces macroeconomics. What determines the performance of a national economy and how should it be managed? A model of a national economy is constructed and used to analyse the roles of consumer spending, investment, government taxes and spending and imports and exports. What are the roles of money, banks, interest rates and financial markets in macroeconomic fluctuations?
Block 5 asks whether a national economy can be managed at all, now that international markets are so powerful, and provides some of the tools for analysing a national economy in a global world. Is economic policy becoming an international problem, rather than a matter for national governments? Do poor nations gain from trade? How do we understand changing patterns of international trade?
Block 6 picks up short-term policy issues from Block 4 and shows how they influence long-term macroeconomic outcomes. How can policy seek to stabilise the economy and keep unemployment and inflation low? How do short-term policy measures interact with structural factors in the long term? In examining why economies fluctuate and what can be done about it, we take you through more data analysis in relation to economic forecasting in an uncertain world. And, finally, can economic growth be sustained without destroying the environment?
The course also offers an exciting opportunity to learn or consolidate ICT skills. A CD-ROM complements the course texts. This multimedia learning environment has three elements.
First, the ‘virtual classroom’ is a graphics and audio package that takes you through the diagrammatic analysis of the two theory volumes, building the diagrams step by step, the graphics laying one curve on another while the audio explains why each curve goes where it does. This can be repeated as often as you like. Second, the statistical package (which you can take to the virtual classroom) teaches some statistics in this way, developing graphs and equations slowly. Third, at the end of each block there are questions and exercises to enable you to check your understanding.
Vocational relevance
The analytical and technical skills of economics have wide application in many fields where reasoned argument, clarity of thought and use of quantitative evidence are important. A knowledge of economic theory and economic processes is also advantageous for many jobs in both the private and public sectors. Economics is valuable in any job that requires understanding of how markets operate, such as marketing and other aspects of business. Economic analysis is also essential for policy-related activities in environmental, social or industrial policy, in national or local government and in campaigning organisations. ICT skills are an increasingly valuable asset in a wide range of occupations.
Entry
You are not expected to have taken any courses in economics, or to have any knowledge or experience of ICT. Nevertheless this is a Level 2 course and you need the general study techniques appropriate to Level 2 study in the social sciences: reading actively, engaging with the argument of the text and taking notes; the ability to extract information from different sources, including numerical tables and graphs; handling evidence in support of arguments; and making critical analyses of topics and of different views of them. The course does not assume that you have mathematics beyond elementary arithmetic, introducing additional techniques including graphs, economics diagrams, elementary algebraic equations to express economic relationships, and basic data analysis. You should be interested in developing skills in basic mathematics as part of the toolkit of economics, in learning the techniques and in handling abstract forms of argument. The course is suitable both as a broad introduction to economics for those who want to take only one course in the subject, and as a good basis for further study in economics.
If you have any doubt about the suitability of the course, please contact our Student Registration & Enquiry Service.
Qualifications
DD202 is a compulsory course in our
- Diploma in Economics (D28)
- BA/BSc (Honours) Social Sciences (B06) (with Economics)
- BA/BSc (Honours) Economics and Mathematical Sciences (B15)
- BA (Honours) Business Studies (B04) (with Economics)
- BA (Honours) Politics, Philosophy and Economics (B45)
It is an optional course in our
- BA/BSc (Honours) Social Sciences (B06)
- BA (Honours) Business Studies (B04)
- BA/BSc (Honours) International Studies (B11)
- Diploma of Higher Education in Social Sciences (E50)
It can also count towards most of our other degrees at bachelors level, where it is equally appropriate to a BA or BSc. We advise you to refer to the relevant qualification descriptions for information on the circumstances in which this course can count towards these qualifications because from time to time the structure and requirements may change.
Excluded combinations
Sometimes you will not be able to count a course towards a qualification if you have already taken another course with similar content. To check any excluded combinations relating to this course, visit our excluded combination finder or check with our Student Registration & Enquiry Service before registering.
If you have a disability or additional requirement
The course includes economics diagrams, graphs, charts and tables of data. The set work will ask you to produce diagrams, graphs and some data analysis. Many of the computing elements are in the form of animated tutorials that have a high visual content. The course materials are available in Adobe Portable Document Format (PDF). Components may not be available or fully accessible using a screen reader and mathematical, scientific, and foreign language materials may be particularly difficult to read in this way. Large print versions of the course material can be provided on request. Written transcripts are available for the audio-visual material. You will need to spend considerable amounts of time using a personal computer and the internet. Our Services for disabled students website has the latest information about availability.
If you are a new student, or new to courses using a computer or the internet, you will need to inform us of your particular needs as soon as possible, as some of our support services may take several weeks to arrange. Details of how to do this and our range of support services are described in our booklet Meeting Your Needs which you can download or request from our Student Registration & Enquiry Service.
You can also find information about accessible course materials, financial support and the Disabled Students' Allowance, equipment and other services, on our Services for disabled students website. It also includes our contact details for advice and support both before you register and while you are studying.
Course materials
What's included
Course books, other printed materials, CD-ROMs, course website.
Computing requirements
This course includes online computer activities – you can access these using a web browser that can play Flash and Shockwave. Some of your course software will be provided on disk.
You will need internet access and a computer. If you have purchased a new Windows computer since 2002 it should meet your course computing requirements. Check our Technical Requirements section if your computer is older than this or is otherwise unusual. Please note that you cannot use an Apple Mac or Linux computer unless it is running windows Boot Camp or similar.
Teaching and assessment
Support from your tutor
You will have a tutor who will help you with the course material and mark and comment on your written work, and whom you can ask for advice and guidance. We may also be able to offer group tutorials or day schools that you are encouraged, but not obliged, to attend. Where your tutorials are held will depend on the distribution of students taking the course.
Contact our Student Registration & Enquiry Service if you want to know more about study with The Open University before you register.
Assessment
The assessment details for this course can be found in the facts box above.
You can choose whether to submit some of your tutor-marked assignments (TMAs) on paper or online through the eTMA system. You may want to use the eTMA system for some of your assignments but submit on paper for others. This is entirely your choice.
Professional recognition
This course may help you to gain recognition from a professional body. Ask our Student Registration & Enquiry Service for Recognition leaflet 3.3 Professional Engineering Institutions and Recognition leaflet 3.4 Chartered Institution of Water and Environment Management.
Students also studied
Students who studied this course also studied at some time:
Future availability
The details given here are for the course that starts in February 2011. We expect it to be available at the same time once a year.
How to register
To register a place on this course return to the top of the page and use the Click to register button. For more information and advice about registration see OU Study Explained.
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An undergraduate course in Business and Management, Environment, Development and International Studies and Social Sciences.
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Student Reviews
This course is an introductory course aimed at degrees that are not purely in economics (according to the intro in ...
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DD202 was a very interesting course, well structured with a very useful interactive software to help you understand the concepts ...
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