In order to get a better understanding of subject design and delivery using a hybrid approach, we have studied a hybrid learning postgraduate programme offered by the University of the Andes, Bogota, Colombia. The study analyses students' perceptions of subject design and delivery, with particular reference to learning activities and the roles of lecturers and students during moments of interaction. Elements of socio-cultural activity theory were taken as a reference for subject analysis. It is a qualitative research project containing some quantitative data. For the purposes of the study, the following instruments were designed and applied: a student survey, student interviews (by subject), lecturer interviews, and a subject design and planning observation guide. The study's conclusions present the characteristics of learning activities and of student-lecturer and student-student interaction that fostered the attainment of subject learning objectives. These characteristics can make a positive contribution to the process of subject design and delivery using a hybrid approach, meaning integration between face-to-face and e-learning actions in the delivery of learning activities.