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Running the Economy, Short Course

  • Application Deadline
  • Unknown
    Duration
University rank #501 (WUR) Milton Keynes, United Kingdom
This Running the Economy module from The Open University UK responds to the need to understand the problems of running national and global economies in the wake of a major economic crisis. It starts with macroeconomics, looking at how economies work from global and integrated perspectives.
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Overview

What you will study

You'll begin by developing an understanding of the sources and nature of the economic crisis in 2008 and the economic theories and policy vehicles for dealing with it. Your journey through the Running the Economy module from The Open University UK will tackle key issues including:

  • the economic debates about the role of demand stimulus vs. fiscal constraint as the routes to recovery, monetary policy and the scope for supply side restructuring and growth
  • the challenge of international competition for policy makers in different parts of the globe, including low cost Asian suppliers, problems of European export competitiveness and the sources and location of innovation
  • the problems engendered by global imbalances in balance of payments (deficits and surpluses), credit and debt, rising inequality and the need for ‘rebalancing’ economies.

In the latter part of the module you’ll cover the microeconomic tools open to governments in trying to tackle some of these issues; regulation and privatisation/nationalisation; trade restriction and promotion; welfare state policies including health and education; international collaborations and harmonisation of policies.

Throughout the module you'll make extensive use of simulators, interviews, case studies and data to provoke reflection, analysis and deeper learning.

This module will be of interest to anyone who wants, at an introductory level, to:

  • learn how to think as an economist
  • understand the tools used by economists
  • construct and understand informed opinions about policy choices and the state of economies.

Detailed Programme Facts

  • Programme intensity Part-time
  • Credits
    60 alternative credits
  • Languages
    • English
  • Delivery mode
    On Campus

Programme Structure

This module has a student-centred approach in developing and applying economic theories and debates to serious worldwide economic problems and the critical assessment of proposed solutions. 

The transferable and vocational skills you’ll gain include the ability to:

  • interpret, manipulate and critique economic evidence, including interpreting numerical data and basic statistical skills
  • compare and contrast the most prominent economic traditions and theories from the 1930s to the present day, widely used in public debate
  • build and support arguments in discussion and written forms
  • use and present modelling and simulation as methods of analysis of economic problems, including simulating the macroeconomy under different policy scenarios
  • engage in debates with other students, substantiating your arguments with economic theory and evidence.

English Language Requirements

This programme may require students to demonstrate proficiency in English.

General Requirements

  • This is an OU level 2 module and you need to have a good knowledge of the subject area, obtained either through OU level 1 study with the OU, or by doing equivalent work at another university.
  • We recommend that you start with our key introductory module Introducing the social sciences. 
  • This interdisciplinary OU level 1 module, with its integrated teaching of key study skills, provides a firm foundation for OU level 2 study.

Tuition Fee

Living costs for Milton Keynes

  • 848 - 1350 GBP/month
    Living Costs

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.

Funding

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