¹û¶³Ó°Ôº

The module will consider the alternative models for public policy, governance and administration from those focussed on ‘market fixing’ to new ones that can be expressed as ‘market making’. The latter requires all organisations, including those in the public sphere, to be equally ambitious around experimentation and exploration. This requires building new competencies and dynamic capabilities inside public institutions, which are oriented towards producing, nurturing and evaluation the creation of public value.ÌýThe module will also equip students with an in-depth understanding of three economic areas and approaches in the context of public value and public purpose. That is, students will be introduced to discussion of value, market, and state, with emphasis on how these concepts have driven the debates and paradigms within economics. Then, students will explore the alternative views to these debates, with emphasis on Keynesianism, the entrepreneurial state, public value and theories of market and firm. The importance of governing value creation will be investigated, and the concept of public value will be looked at through different areas within economics. From here, students will be introduced to the schism between macroeconomics and development, followed the discussion of the two most important macroeconomic levers the state employs – i.e., fiscal policy and monetary policy. Lastly, students will learn about the role of finance in supporting an entrepreneurial state.