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.
This course is self-contained so you will not need to use any extra textbooks. However, you may find useful to read other books on this subject. The following book has been recommended and there are references to this book if you would like extra background information.
Economics (Fifth Edition) Edexcel
Alain Anderton – Pearson
This textbook covers both AS and A2 economics, in the same layout as our Level 3 Diploma in Economics.
All students must be 16 years of age and above.
Level 3 Diploma courses require a minimum prior learning to GCSE standard in order that students can manage their studies and the assumed knowledge within course content.
Approximately 20 hours per unit
Final online multiple choice examination.
Please note that you can enrol on this course at anytime.
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). Please note that this ABC certificate is only available to students enrolling on or after 01.04.15.
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.
For more information on how to progress after completing this course, please click here
You will receive a certificate from the College. A digital version is included in the price and will be emailed to you within 5 days of taking your online exam.
Should you require an embossed hard copy of your certificate to be sent to you by Special Delivery post, you can order this separately after taking your exam.
The course can be enrolled upon by students Internationally. There are no deadlines for enrolments.
To view the differences between our qualifications, please click HERE
Online study materials to enable the student to successfully complete the Diploma. Support is provided by the tutor department for the duration of the course (1 year). Certification upon completion. All examination fees.
Payment by Instalments
Students are able to pay course fees in monthly instalments. Click here to download our instalment plan.
The Quality Assured Diploma is a Level 3 equivalent on the National Qualifications Framework. The Diploma is a 1 year course which is self study and is examined by online examination. The Diploma is awarded by Oxford College. Upon completion of the course you will receive certification awarded by Oxford College.
The Level 3 Diplomas require a minimum prior learning to GCSE standard in order to for students to manage study and the assumed knowledge within course content.
They provide an ability to gain and apply a range of knowledge, skills and understanding in a specific subject at a detailed level. Level 3 qualifications such as A levels, NVQ3, BTEC Diplomas etc. are appropriate if you plan to progress to university study.
Level 3 Diploma courses can assist you in career development, continued professional development, personal development, and provision of a basis for further study.
Progression from Level 3 is to specialist learning and detailed analysis of a higher level of information (for example university level study, Diploma Level 5 study).
Your course is delivered online via the Oxford Learning On Campus website.
This is a flexible learning course, so the more time you have to commit to your studies, the sooner you are able to complete.
In the student 'On Campus' you are also able to take part in the student chat room and forums as part of our online student community.
After enrolling online you will receive your username and password to access the On Campus area within 3 working days.
Materials and support provided by Oxford Learning.
A Paper copy and Kindle copy of course materials are also available to purchase in the online enrolment process.
For more information please visit our FAQ page.
This product was added to our catalog on Friday 12 March, 2010.