Doing economics: inequalities, innovation and environment
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In this module, you’ll learn a range of economic theories and analytical techniques to understand five major contemporary issues: economic growth, inequality, market power, innovation, and the environment. You’ll study multiple economic perspectives and competing theories, learning to evaluate which approaches are most effective for specific contexts. You&/courses/qualifications/details/dd320/39;ll also develop essential research skills while working toward your own independent project. By the end of the module, you’ll be equipped to critically analyse real-world socio-economic challenges and develop informed approaches to address them.
What you will study
This module equips you with the theoretical tools to investigate recent developments in modern economies. It adopts a pluralist view of economic theory, allowing you to understand debates between different approaches and develop skills to apply your learning to real-world problems.
The module consists of four blocks. The first three focus on economic theory, applications, and research methods used by economists to investigate real-world issues. In the final block, you will apply these methods in your own research project.
Block 1: Growth and inequality
You&/courses/qualifications/details/dd320/39;ll begin by exploring economic theories designed to explain the factors driving economic growth and various types of inequalities across countries, social groups, and different types of workers. You’ll learn to construct and test hypotheses using statistical methods, how to conduct a literature review, and get introduced to the final project.
Block 2: Innovation and market power
This block examines the impact of firms on the economy as key agents in capitalist systems. You’ll learn how competition drives firms to become more efficient and innovative through new products, improved processes, and new organisational forms. You’ll also explore how firms can hinder efficiency and innovation if they become too large and powerful, and how governments design policies to improve competition and innovation. Additionally, you’ll learn to analyse quantitative data using econometric modelling, apply qualitative research methods, and conduct research ethically.
Block 3: Environment
In Block 3, you’ll learn how to use economic theories and techniques to analyse environmental problems caused by human activities and evaluate policies that could reduce ecological damage. You’ll learn about integrating economic and social systems with the planet&/courses/qualifications/details/dd320/39;s biophysical system, techniques for valuing environmental goods and services, and how fiscal and monetary policies can improve environmental outcomes, especially regarding climate change. By the end of this block, you’ll be prepared to submit a research plan for your final project and will have expanded your knowledge of research methods.
Block 4: Project work
In the last weeks of the module, you&/courses/qualifications/details/dd320/39;ll complete a project of your choice, which will serve as your end-of-module assessment.
Entry requirements
This is an OU level 3 module. OU level 3 modules build on study skills and subject knowledge acquired from studies at OU levels 1 and 2. They are intended only for students who have recent experience of higher education in a related subject, preferably with the OU.
We strongly recommend studying Essential economics: macro and micro perspectives (D217) or an alternative introductory or intermediate economics module before studying this module.
What's included
You&/courses/qualifications/details/dd320/39;ll be provided with a printed module book for each block of study and have access to a module website, which includes:
- a week-by-week study planner
- module materials
- specialised software
- audio and video content
- online practice quizzes
- assessment guide
- online tutorials and forums.
Computing requirements
- Primary device – A desktop or laptop computer. It’s possible to access some materials on a mobile phone, tablet or Chromebook; however, they will not be suitable as your primary device.
- Peripheral device – Headphones/earphones with a built-in microphone for online tutorials.
- Our OU Study app operates on supported versions of Android and iOS.
- Operating systems – Windows 11 or latest supported macOS. Microsoft will no longer support Windows 10 as of 14 October 2025.
- Internet access – Broadband or mobile connection.
- Browser – Google Chrome and Microsoft Edge are recommended. Mozilla Firefox and Safari may be suitable.
- Software – You will need to download and install Stata to analyse quantitative data and NVivo to analyse qualitative data.