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 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.
This course is eligible for the UK Study Online Scholarship draw
One of the only UK scholarships 100% dedicated to online study. £1,000 support for tuition fees for UK & International Students
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