As your Python code grows in volume, you'll want to arrange it into subdirectories, with a mirroring mechanism within the language to let you have the extra heirarcy as you load the code from the subdirectory. And you're looking at python packages.

They work as follows:

a) You put the modules that you want in your package into your subdirectory
b) You create an (initially) empty file called __init__.py in the subdirectory (to tell Python it's a package)
c) You use a "." notation to refer to the module within the package.

Here's the change in my calling code when I have moved a module into a package:

  munchkin:xy grahamellis$ diff ask askpack
  1c1
  < import funky
  ---
  > import demopack.funky as funky
  munchkin:xy grahamellis$

There is a much more complex and fully featured example in the Python documentation at http://docs.python.org/tutorial/modules.html - that tells you how to reference across between one module and another within packages, and how to control "*" imports with a list called __all__ within the __init__.py file (which can also include initialisation code).
(written 2011-10-11)

 Y105 - Python - Functions, Modules and Packages
  [96] Variable Scope - (2004-10-22)
  [105] Distance Learning - (2004-10-31)
  [294] Python generator functions, lambdas, and iterators - (2005-04-28)
  [303] Lambdas in Python - (2005-05-06)
  [308] Call by name v call by value - (2005-05-11)
  [340] Code and code maintainance efficiency - (2005-06-08)
  [386] What is a callback? - (2005-07-22)
  [418] Difference between import and from in Python - (2005-08-18)
  [561] Python's Generator functions - (2006-01-11)
  [668] Python - block insets help with documentation - (2006-04-04)
  [745] Python modules. The distribution, The Cheese Shop and the Vaults of Parnassus. - (2006-06-05)
  [749] Cottage industry or production line data handling methods - (2006-06-07)
  [775] Do not duplicate your code - (2006-06-23)
  [821] Dynamic functions and names - Python - (2006-08-03)
  [900] Python - function v method - (2006-10-20)
  [912] Recursion in Python - (2006-11-02)
  [913] Python - A list of methods - (2006-11-03)
  [949] Sludge off the mountain, and Python and PHP - (2006-11-27)
  [959] It's the 1st, not the 1nd 1rd or 1th. - (2006-12-01)
  [1134] Function / method parameters with * and ** in Python - (2007-04-04)
  [1163] A better alternative to cutting and pasting code - (2007-04-26)
  [1202] Returning multiple values from a function (Perl, PHP, Python) - (2007-05-24)
  [1464] Python Script - easy examples of lots of basics - (2007-12-08)
  [1784] Global - Tcl, PHP, Python - (2008-09-03)
  [1790] Sharing variables with functions, but keeping them local too - Python - (2008-09-09)
  [1869] Anonymous functions (lambdas) and map in Python - (2008-11-04)
  [1870] What to do with a huge crop of apples - (2008-11-04)
  [1871] Optional and named parameters in Python - (2008-11-05)
  [1879] Dynamic code - Python - (2008-11-11)
  [2011] Conversion of OSI grid references to Eastings and Northings - (2009-01-28)
  [2439] Multiple returns from a function in Python - (2009-10-06)
  [2440] Optional parameters to Python functions - (2009-10-07)
  [2481] Sample code with errors in it on our web site - (2009-10-29)
  [2506] Good example of recursion in Python - analyse an RSS feed - (2009-11-18)
  [2520] Global and Enable - two misused words! - (2009-11-30)
  [2718] Python - access to variables in the outer scope - (2010-04-12)
  [2766] Optional and named parameters to Python functions/methods - (2010-05-15)
  [2878] Program for reliability and efficiency - do not duplicate, but rather share and re-use - (2010-07-19)
  [2929] Passing a variable number of parameters in to a function / method - (2010-08-20)
  [2994] Python - some common questions answered in code examples - (2010-10-10)
  [2998] Using an exception to initialise a static variable in a Python function / method - (2010-10-13)
  [3159] Returning multiple values from a function call in various languages - a comparison - (2011-02-06)
  [3280] Passing parameters to Python functions - the options you have - (2011-05-07)
  [3459] Catching the fishes first? - (2011-09-27)
  [3464] Passing optional and named parameters to python methods - (2011-10-04)
  [3472] Static variables in functions - and better ways using objects - (2011-10-10)
  [3662] Finding all the unique lines in a file, using Python or Perl - (2012-03-20)
  [3695] Functions are first class variables in Lua and Python - (2012-04-13)
  [3766] Python timing - when to use a list, and when to use a generator - (2012-06-16)
  [3852] Static variables in Python? - (2012-08-29)
  [3885] Default local - a good choice by the author of Python - (2012-10-08)
  [3931] Optional positional and named parameters in Python - (2012-11-23)
  [3945] vargs in Python - how to call a method with unknown number of parameters - (2012-12-06)
  [4029] Exception, Lambda, Generator, Slice, Dict - examples in one Python program - (2013-03-04)
  [4161] Python varables - checking existance, and call by name or by value? - (2013-08-27)
  [4212] Python functions - an introduction to how they work - (2013-11-16)
  [4361] Multiple yields and no loops in a Python generator? - (2014-12-22)
  [4407] Python - even named code blocks are objects - (2015-01-28)
  [4410] A good example of recursion - a real use in Python - (2015-02-01)
  [4441] Reading command line parameters in Python - (2015-02-23)
  [4448] What is the difference between a function and a method? - (2015-03-04)
  [4645] What are callbacks? Why use them? An example in Python - (2016-02-11)
  [4662] Recursion in Python - the classic example - (2016-03-07)
  [4719] Nesting decorators - (2016-11-02)
  [4722] Embedding more complex code into a named block - (2016-11-04)
  [4724] From and Import in Python - where is the module loaded from? - (2016-11-06)

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Testing your Python classes with the unittest package - how to
Choosing your Python GUI - wx, Qt, Tk or GTK?
Tkinter - an easy to use Python Graphic User Interface - introductory examples
Havant - Shop Frontages.
Python Packages - groupings of modules. An introduction
Picture - Havant Station at Dusk
Vintage Bus Running Day in Warminster. An example of good bus practise.
Currently pictured in Melksham
Teaching dilemma - old tricks and techniques, or recent enhancements?