In this study we present the structure and implementation of a model-based inquiry teaching-learning sequence (TLS) integrating expressive, experimental and exploratory modelling pedagogies in a cyclic manner, with the aim of enhancing primary education student teachers' epistemological beliefs about the aspects, nature, purpose and change of models as well as their conceptual understanding of light phenomena related to properties of optical fibres. The subjects were 16 prospective primary teachers involved in modelling activities, employing both hands-on experiments and computer modelling activities, based on the application of the ray model. Student teachers were tested before and after the implementation of the TLS by semi-structured interviews and a written questionnaire. Results show that before the TLS most students adopted epistemologically naïve realistic beliefs about models, whereas after the TLS there was an overall significant transition from naïve to more sophisticated epistemological beliefs, as well as significant improvements in their conceptual knowledge about light phenomena. Nevertheless, the relation between epistemological beliefs and conceptual understanding seems to be aspect-dependent, so our evidence suggests that more educational effort is required in order to establish a coherent relationship between them.