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Course type
Diploma  

Diploma

Credits
120  

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.
How long it takes
Part-time study – 2 years
Full-time study – N/A
Time limit – 7 years
Study method
Distance learning
Entry requirements
Find out more about
Entry requirements
Ask a question

Diploma in Economics

Course code: V13

In this diploma you’ll explore contemporary socio-economics issues by learning to apply economic theories and techniques to real world situations. You'll learn to use specialised software to apply statistical concepts to economic data and carry out your own research project. The analytical skills you'll learn are greatly valued by employers.

This diploma is ideally suited to a graduate in any discipline and can be completed in as little as two years. You’ll have evidence of a systematic study of economics without having to complete a full degree. If you wish to gain an economics degree later, you may be able to count the credit gained from this diploma.

 

  • Gain a good basic knowledge of economic theories and an understanding of economic issues.
  • Analyse some of the most compelling challenges facing us today, such as inequality and unemployment, and issues facing business.
  • Engage in economic debate, assess qualitative and quantitative evidence and its usefulness in relation to economic theories.
  • Learn to analyse economic data using statistical techniques.
Course type
Diploma  

Diploma

Credits
120  

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.
How long it takes
Part-time study – 2 years
Full-time study – N/A
Time limit – 7 years
Study method
Distance learning
Entry requirements

Find out more about Entry requirements

Ask a question

This diploma has one stage comprising 120 credits.

You’ll be introduced to economics as a discipline and learn core economic theories and techniques. These will be applicable to studying the economy as a whole (macroeconomics) and for individual economic agents, such as firms and households (microeconomics). You’ll also learn the key concepts and techniques used in the analysis of economic data.

In the second module you’ll study economic theories and techniques in more depth. You’ll also be introduced to econometrics, the statistical analysis of economic data, and learn about various research methods that you can use in a small research project on a topic of your choice.

Stage 1 modules
ModulesCredits
You'll study both of the following:
Essential economics: macro and micro perspectives (D217)60
Doing economics: inequalities, innovation and environment (DD320) – planned for October 202560

We regularly review our curriculum; therefore, the qualification described on this page – including its availability, its structure, and available modules – may change over time. If we make changes to this qualification, we’ll update this page as soon as possible. Once you’ve registered or are studying this qualification, where practicable, we’ll inform you in good time of any upcoming changes. If you’d like to know more about the circumstances in which the University might make changes to the curriculum, see our Academic Regulations or contact us. This description was last updated on 6 September 2024.

Accessibility

Our qualifications are as accessible as possible, and we have a comprehensive range of support services. Our Diploma in Economics uses a variety of study materials and includes the following elements:

  • Online study – most modules are online; some have a mix of printed and online material. Online learning resources could include websites, audio/video, and interactive activities
  • Pre-determined schedules – we’ll help you to develop your time-management skills
  • Assessment in the form of short-answer questions, essays, and examinations
  • Feedback – continuous assessment includes feedback from your tutor and using this to improve your performance
  • Using and producing diagrams and screenshots
  • Finding external/third-party material online
  • Specialist software
  • Mathematical and scientific expressions, notations and associated techniques
  • Online tutorials
  • Group-work

Every module has its own Accessibility Statement with more detailed accessibility information – you’ll find these on individual module descriptions. Visit our Disability support page to learn about our services.

Learning outcomes, teaching and assessment

This qualification develops your learning in four main areas:

  • Knowledge and understanding.
  • Cognitive skills.
  • Practical and professional skills.
  • Key skills.

The level and depth of your learning gradually increases as you work through the qualification. You’ll be supported throughout by the OU’s unique style of teaching and assessment – which includes a personal tutor to guide and comment on your work; top quality course texts; elearning resources like podcasts, interactive media and online materials; tutorial groups and community forums.

Read the detailed learning outcomes here

Credit transfer

If you’ve already completed some university-level study somewhere else, you may be able to count it towards this qualification – which could save you time and money by reducing the number of modules you need to study. At the OU we call this credit transfer.

It’s not just university study that can be considered, you can also transfer study from some professional or vocational qualifications such as HNCs and HNDs.

You should apply for credit transfer before you register, at least 4 weeks before the registration closing date. For more details and to download an application form, visit our Credit Transfer website.

On completion

On successfully completing this course, we’ll award you our Diploma in Economics.

International recognition

If you intend to use your Open University qualifications to seek work or undertake further study outside the UK, we recommend checking whether your intended qualification will meet local requirements for your chosen career. Find out more about international recognition of Open University qualifications.

Regulations

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

The Diploma in Economics is made up of modules at OU levels 2 and 3 taken from our undergraduate programme. There are no entry requirements, but you must be suitably prepared for study at this level. For example, it is particularly suitable to graduates in other subjects who wish to learn economics.

Before registering for this qualification, to help you decide whether you're ready to study at this level you can take our Are you ready for D217? quiz. You will also find advice on preparatory materials you can study before you start in order to be better prepared for your studies.

If you are unsure of your preparedness to start studying at OU level 2, we strongly recommend you contact us to discuss this with our educational advisers.

How much time do I need?

  • Most of our students study part time, completing 60 credits a year.
  • This will usually mean studying for 16–18 hours a week.

Find out if you have enough time to study with our time planner

How much will it cost in England?

We believe cost shouldn’t be a barrier to achieving your potential. That’s why we work hard to keep the cost of study as low as possible and have a wide range of flexible ways to pay to help spread the cost.

  • A qualification comprises a series of modules, each with an individual fee. Added together, they give you the total cost.
  • Fees are paid on a module-by-module basis – you won't have to pay for the whole of your qualification up front.
  • Most of our students study part time at a rate of 60 credits a year.
  • Our current fee for 60 credits is £3,636*.
  • At current prices, the total cost of your qualification would be £7,272*.

*The fee information provided here is valid for modules starting before 31 July 2025. Fees typically increase annually. In England, fees are subject to the part-time fee limit, as set out in section C of the University's Fee Rules.

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 receive a qualifying benefit, you might be eligible for help with some of these costs after you start studying.


How will I study this course?

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.

If you have additional needs, we can also provide most module materials in alternative formats. Find out more about materials on our accessibility webpage.

See how our module websites work.

Tutor support

Student, Joe, talks about balancing working at the NHS and studying with the OU and how he has the best of both worlds.

You’ll have a tutor for each module, who will introduce themselves before the module begins.

Throughout the module, they will:

  • mark your assignments and give feedback to help you improve
  • guide you to learning resources
  • support you, whether with general study skills or help with a specific topic.

Tutorials

Tutorials usually take place online, and they’re always optional.

Online tutorials are live presentations with module tutors in dedicated online tutorial rooms and are sometimes recorded.

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 at 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.

Progressing to a point where I felt more comfortable writing my assignments, and having my scores reflecting that, made me quite happy because it showed the hard work was being rewarded.

Patrick ‘Ricky’ Skene, BSc (Hons) Sport, Fitness and Coaching

Other support and resources

Throughout your studies, you’ll have access to our subject-specific Student Support Teams.

They’ll help you with any general questions about your study and updates to your OU account.

To help with your studies, you’ll also have access to:

  • our online library, with high-quality online resources to support your study
  • other university libraries in the UK and Ireland
  • the online Help Centre, which has general information about OU study and support, along with study skills advice
  • free Microsoft Office 365 software
  • IT and computing support from our Computing Helpdesk.

Find out more about student support and being a part of the OU community.

Having a course that was really varied and studying in a style that worked for Nick, was key to him launching his own business and becoming an entrepreneur.

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 career.

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.

Exploring your options

Once you register with us (and for up to three years after you finish your studies), you’ll have full access to our careers service for a wide range of information and advice. This includes online forums, website, interview simulation, vacancy service as well as the option to email or speak to a careers adviser. Some areas of the careers service website are available for you to see now, including help with looking for and applying for jobs. You can also read more general information about how OU study enhances your career.

In the meantime if you want to do some research around this qualification and where it might take you, we’ve put together a list of relevant job titles as a starting point. Some careers may require further study, training and/or work experience:

  • economist
  • data analyst
  • manager
  • researcher
  • financial analyst
  • stockbroker
  • investment analyst
  • marketing manager
  • management consultant
  • banker
  • lecturer
  • teacher.

Thinking of studying this course?

This course will next open for registration in March 2025. If you’d like us to keep you updated, register your interest.

 

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