This document discusses low-cost approaches to developing Massive Open Online Courses (MOOCs). It notes that the average cost for UK universities to develop a MOOC is £29,356 (€40,485), but niche courses targeting smaller audiences may be developed for less. A simple online course structure is proposed that could be developed and delivered for just €6,000 by using 12 weekly one-hour lecture recordings and additional readings. The document also describes several European projects aimed at researching and piloting low-cost MOOC development methods.