- Access to course content on mobile, tablet or desktop
- Make your own study schedule and take advantage of online tutoring hours
- Obtain a certified diploma once you finish the course.
Level 3 Diploma courses are done fully online via distance learning.
This Ascentis Quality Assured Level 3 Diploma in Economics will provide students with an in depth knowledge of the topic area. Economics gives you diploma terminology and models to understand the world of money and finance, of employment, economic growth and international trade. You will need to get used to dealing with the specialist language of economics but you also need to be able to apply it to real life events. This course will enable you to do this comprehensively but you will also find it useful to keep up to date by reading newspapers, journals like The Economist and by watching or listening to radio and television.
Economics has a large amount of new terminology. You will be required to recognise and understand economics terms when you meet them and also to apply them to real life situations. Some of the terminology is used in ordinary language but in a quite different way in economics. You will also need to remember diagrams that explain economics. The lessons have been arranged to follow ten modules, but to provide for ease of understanding and topic coverage may be of different length and difficulty. The modules have been organised to provide students with a sequence to develop a sound knowledge in Economics. At the end of each module there is exam preparation to complete. This will prepare the student for the final examination. Some of these sections have references to carefully selected websites to provide you with further practice, summaries and examples of topics covered in the lesson.
The course consists of the following ten modules:
Module 1 – The Economic Problem and the Production Possibility Frontier / Demand and Supply Analysis.
How much can be produced and what should be produced? Will demand always outstrip supply? What is price and how is it determined?
Module 2 – Market Failure / Government Intervention and Government Failure
Should governments allow a completely free market? Should they step in to support failing industries? Are some industries too important to be left to private ownership? Ought such industries to be government owned and operated?
Module 3 – Introducing Macroeconomics and Measuring the Economy
Macroeconomics is about the big picture- the very, very big picture. The world economy, national economies and how can all the world be in a depression or in a boom?
Module 4 – Aggregate Demand and Aggregate Supply
Does supply always match demand? If not what happens to either?
Module 5 – Economic Growth
What is economic growth? How do we measure it? Is it always good? What about those who are left behind?
Module 6 – Government Intervention and Constraints
This builds on what has already been studied in module 2. There are many recent developments to consider.
Module 7 – The Firm, Objectives, Growth, Revenue and Costs / Firms and the Market
Why do firms exist? What are they and what do they do? Can we manage without them?
Module 8 – Competition / Government Intervention
This is the synthesis of modules 6 & 7 and shows how they are interrelated.
Module 9 – Globalisation and Patterns of Trade / How International Trade is Recorded and Financed
As we progress to the "Global Village" and the whole world becomes interconnected what are the implications for the world economy? Again is it a wholly positive move? Is there more to consider than simply extracting maximum profit?
Module 10 – Growth and Development / The Role of Government
What do governments have to do with all of what you have studied. This module is a summary and builds on what has already been studied in modules 6,7 & 8.
You can also contact your tutor if you feel you need more practice in any of the topics covered in this course.
Diploma in Economics
This course is Quality Assured by the Quality Licence Scheme
At the end of this course successful learners will receive a Certificate of Achievement from ABC Awards and a Learner Unit Summary (which lists the details of all the units the learner has completed as part of the course).
The course has been endorsed under the ABC Awards Quality Licence Scheme. This means that Oxford Learning College has undergone an external quality check to ensure that the organisation and the courses it offers, meet certain quality criteria. The completion of this course alone does not lead to an Ofqual regulated qualification but may be used as evidence of knowledge and skills towards regulated qualifications in the future.
The unit summary can be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this sector. To this end the learning outcomes of the course have been benchmarked at Level 3 against level descriptors published by Ofqual, to indicate the depth of study and level of demand/complexity involved in successful completion by the learner.
The course itself has been designed by Oxford Learning College to meet specific learners' and/or employers' requirements which cannot be satisfied through current regulated qualifications. ABC Awards endorsement involves robust and rigorous quality audits by external auditors to ensure quality is continually met. A review of courses is carried out as part of the endorsement process.
ABC Awards is a leading national Awarding Organisation, regulated by Ofqual, and the Welsh Government. It has a long-established reputation for developing and awarding high quality vocational qualifications across a wide range of industries. As a registered charity, ABC Awards combines 180 years of expertise but also implements a responsive, flexible and innovative approach to the needs of our customers. Renowned for excellent customer service, and quality standards, ABC Awards also offers Ofqual regulated qualifications for all ages and abilities post-14; all are developed with the support of relevant stakeholders to ensure that they meet the needs and standards of employers across the UK.