Course at a glance
Introduction
This 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.
Upon completion of each unit in the course the student will be provided with an assignment, based upon short questions and answers or essay questions, to test the understanding of the course presented. This will enable the tutor to offer guidance and feedback to show how well the student has understood the content of each unit. The assignments don’t count toward the final grade as the course will be assessed by online examination.
Benefits of the Course:
Students will expect to derive the following benefits from the diploma course:
- Theoretical knowledge and understanding
- Practical implications
- Integration of theory and practice
Level 3 Economics Diploma Entry Requirements
All students must be 16 years of age and above to enrol onto our Level 3 Economics Diploma course.
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.
Course Hours
Approximately 20 hours per unit.
Assessment
Optional coursework and final examination.
Enrolment
Please note that you can enrol on this course at anytime.
Course Length
1 Year.
Endorsed By
Students at the college have the option to choose the awarding body of their course.
This course has been endorsed by :
Accord : https://accord.ac/
This course awarding body are recognised for their high-quality, non-regulated provision and training programmes. This course is not an accredited qualification. Your training provider will be able to advise you on any further recognition, for example progression routes into further and/or higher education. For further information please visit Accord website.
Course Content
Level 3 Economics Diploma Unit 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?
Level 3 Economics Diploma Unit 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?
Level 3 Economics Diploma Unit 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?
Level 3 Economics Diploma Unit 4– Aggregate Demand and Aggregate Supply
Does supply always match demand? If not, what happens to either?
Level 3 Economics Diploma Unit 5– Economic Growth
What is economic growth? How do we measure it? Is it always good? What about those who are left behind?
Level 3 Economics Diploma Unit 6 – Government Intervention and Constraints
This builds on what has already been studied in Unit Two. There are many recent developments to consider.
Level 3 Economics Diploma Unit 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?
Level 3 Economics Diploma Unit 8 – Competition / Government Intervention
This is the synthesis of Units Six and Seven and shows how they are interrelated.
Level 3 Economics Diploma Unit 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?
Level 3 Economics Diploma Unit 10 – Growth and Development / The Role of Government
What do governments have to do with all of what you have studied? This unit is a summary and builds on what has already been studied in Units Six, Seven, and Eight.
Progression
This Level 3 Economics Diploma can be used to gain entry to a Level 4+5 Diploma or higher.
You can view a lit of our Level 4+5 Diplomas here: Accredited level 4+5 Diplomas
