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The Diploma in Monetary Policy and Open Economy – Level 3 is an excellent fit for any learner who wants to understand how real-life scenarios such as economic growth, recession and unemployment can affect people. If you aspire to work in finance and economic capacities, this course ticks all of the boxes. It is a thought-provoking training that will equip you with sound knowledge and skills on monetary policy and how it impacts the economy of a country.

The course will discuss key topics such as introducing you to the fundamentals of monetary policies and economic activity, learning about an open economy and how it functions, introduction to the international monetary system, exchange rates and regional currency arrangements.

The economic goals of a country are often directed by its monetary policies. The Central Bank implements the monetary policy and it is used to influence the supply of money in the country.

The Diploma in Monetary Policy and Open Economy – Level 3 course will provide a comprehensive understanding of economic concepts, the impact on interest rates and how it shapes the economy of a country. The certification will give you a good platform to expand in your current job role, or progress to a new position. If you are studying monetary policy with aspirations to work as a finance or economic professional, this course will serve as a stepping stone.

The course has been endorsed under the ABC Awards and Certa Awards Quality Licence Scheme. This means that Study 365 has undergone an external quality check to ensure that the organisation and the courses it offers, meet defined quality criteria. The completion of this course alone does not lead to a regulated qualification* but may be used as evidence of knowledge and skills gained. The Learner Unit Summary may be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this subject. 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 Study 365 to meet specific learners’ and/or employers’ requirements which cannot be satisfied through current regulated qualifications. ABC Awards & Certa 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.

*Regulated qualification refers to those qualifications that are regulated by Ofqual / CCEA / Qualification Wales

Why consider learning at Study 365?

With so many commitments in our lives, we may not have the time to learn new skills. The beauty of studying online is that you get to find this balance between your education and your daily commitments

Study 365 offers hundreds of online courses to students across the world. Gaining new skills has never been this easy as many of our courses are open to students with little or no qualifications or previous experience. All the courses are up-to-date, relevant, affordable, and will build on existing expertise or give you a jump-start to a new career. The courses are meticulously designed and equals what is offered in a classroom setting. With a solid reputation that has established and made us made us one of the most trusted and reliable online course providers we offer the most convenient path to gain recognised skills and training that will give you the opportunity to put into practice your knowledge and expertise in your chosen career. You can learn at your own pace at Study 365 and you will be provided with all the necessary material, tutorials, qualified course instructor, narrated e-learning modules, interactive quizzes and free resources which include Free CV writing pack, free career support and course demo to make your learning experience enriching and more rewarding.

Learning Outcomes

  • Have a clear understanding of how monetary policy works and its impact on the economy.
  • Learn how an open economy works.
  • Have a sound understanding of the state of the economy and how business decisions are impacted by it.
  • Understand the fundamentals of money and monetary policy.
  • Learn about fixed rates and central bank intervention.

Access Duration

The course will be directly delivered to you, and you have 12 months access to the online learning platform from the date you joined the course.  The course is self-paced and you can complete it in stages, revisiting the lectures at any time.

Who is this Course aimed at?

  • Entrepreneurs and Economists
  • Financial Professionals
  • Business Consultants
  • Professional learners, undergraduate students
  • Learners who want to expand their skills in monetary policy

Entry Requirement

  • All learners should be over the age of 19 and have a basic understanding of Maths, English and ICT.
  • A recognised qualification in level 2 or above in any discipline.

Method of Assessment

This online course is assignment-based with learners being assessed upon the submission of a series of assignments. Once you successfully submit the assignments, students will gain a professional qualification. The assignments must be submitted to the instructor through the online learning portal. The assignments will be reviewed and evaluated, with feedback provided to the student on how well they have fared.


At the end of this course successful learners will receive a Certificate of Achievement from ABC Awards and Certa Awards and a Learner Unit Summary (which lists the components the learner has completed as part of the course).

Accredited Body

Accredited body (Accreditation) ABC Awards and Certa Awards have long-established reputations for providing high quality vocational qualifications across a wide range of industries. ABC Awards and Certa Awards combine over 180 years of expertise combined with a responsive, flexible and innovative approach to the needs of our customers.

Renowned for excellent customer service, and quality standards, ABC Awards and Certa Awards also offer 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.

Progression and Career Path

Once you successfully completed the Level 3 Diploma in Monetary Policy and Open Economy, you will gain the knowledge that will open the door to ample job opportunities in the desired field. You can go onto study further and progress in your academic training, or demand for a promotion or salary increment. Here are few of the job roles this course will benefit you in, along with the average UK salary per annum according to https://www.payscale.com

  • Financial Manager – £39,148 per annum
  • Financial Analyst – £30,998 per annum
  • Business Consultant – £38,159 per annum
  • Economist – £35,731 per annum

Other Benefits

  • Written and designed by the industry’s finest expert instructors with over 15 years of experience
  • Repeat and rewind all your lectures and enjoy a personalised learning experience
  • Unlimited 12 months access from anywhere, anytime
  • Save time and money on travel
  • Learn at your convenience and leisure
  • Eligible for a TOTUM discount card
  • Free Career Support Service
  • 25% Discount on personal Statement and covering letter writing service
  • Free Access to Over 150 courses for 2 days (48 hours)
  • Free access to course before you purchase (For selected courses only)

Course Curriculum

Introduction 00:00:00
1: Understand the Money And Monetary Policy
Understand the Money And Monetary Policy 00:00:00
2: Importance of Monetary Policy And Economic Activity
Importance of Monetary Policy And Economic Activity 00:00:00
3: Know the Balance Of Payments And The Exchange Rate
Know the Balance Of Payments And The Exchange Rate 00:00:00
☑ Assignment
Assignment Brief I – Diploma in Monetary Policy And Open Economy Level 3 00:00:00
☑ Submit Your Assignment
4: Understand the Macroeconomic Policy In An Open Economy
Understand the Macroeconomic Policy In An Open Economy 00:00:00
5: Learn Fixed Exchange Rates, Central Bank Intervention and Regional Currency Arrangements
Learn Fixed Exchange Rates, Central Bank Intervention and Regional Currency Arrangements 00:00:00
6: Introduction Global Financial Instability
Introduction Global Financial Instability 00:00:00
☑ Assignment
Assignment Brief II – Diploma in Monetary Policy And Open Economy Level 3 00:00:00
☑ Submit Your Assignment
7: Understand the Global Capital Flows And Financial Instability
Understand the Global Capital Flows And Financial Instability 00:00:00
8: The International Monetary System (IMS)
The International Monetary System (IMS) 00:00:00
9: Developing Countries Economy and International Institutions
Developing Countries Economy and International Institutions 00:00:00
10: End Notes
End Notes 00:00:00
☑ Assignment
Assignment Brief III – Diploma in Monetary Policy And Open Economy Level 3 00:00:00
☑ Submit Your Assignment

Course Reviews


3 ratings
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  1. Great course


    The course material was detailed and covered everything I needed and more! I’ve already recommended to friends and would consider this institution again in the future! Great course.

  2. Very Useful


    The course was extremely informative and really useful.

  3. I enjoyed learning with study365


    This diploma gave me a great overview of the subject which I know will help me both personally and professionally. I enjoyed learning with study365.

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Learner Unit Summary

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All students enrolled with Study365 are entitled to a CV Writing and Interview Skills Pack, which includes CV templates, cover letter guidance, and advice for interviews.



If you need career support Study365 is here for you. We provide excellent career support through our Career Support Service.



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