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Economics for Public Policy

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Overview

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See policy through an economic lens

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If you are working within public policy, it is highly likely that you will come across professional economists and their reports. This course aims to prepare you for these interactions by introducing you to the language and concepts of economics for public policy and by encouraging you to become a critical consumer of economic analysis.

You will learn about what markets can achieve, why they sometimes fail, and what governments can do in response. You will also explore how governments can raise revenue through taxation and alleviate shocks to the macro economy.

Economics for Public Policy is certified by CPD UK’s (Continuing Professional Development) Certification Service.

Find out how you could complement the skills built on this course with those developed on another. Discover our government and public policy multi-course pathway and discounts.

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Duration

8 weeks (3-5 hours of study per week recommended)

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Fees

£1740 (inclusive of VAT)*

*Discounts are available to alumni, those working in the public sector and certain geographical regions. Register your interest to learn more.

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Location

Online

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Intakes

February, May, August, October

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Next start date

4 October 2025 (deadline 1pm (GMT) on 3 October 2025)

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Award

Certificate of completion

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Requirements

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This online course is designed for those who wish to enhance their understanding of how economics concepts can be applied to public policy.

This course is for you if:

  • you are an early-to-mid-career civil servant wanting to move into a specialist or management position;
  • you are an experienced professional in a strategic position wanting to update your formal knowledge and equip yourself with the tools needed to remain effective and current;
  • you work for an NGO or government organisation, and you want to interact more effectively with policymaking in your day-to-day work.

There are no specific entry requirements for this course. However, please be aware that it is a master’s level course, so will take a certain level of commitment. Learners are expected to dedicate 3-5 hours a week to their studies, with all activities and tasks taking place online.

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About the course

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On this eight-week online short course, you will explore some foundational principles of economics and learn how to apply economic theory in a policy formulation context.

You will learn about what markets can achieve, why they sometimes fail, and what governments can do in response. You will also explore how governments can raise revenue through taxation and alleviate shocks to the macro economy.

All your course content, tasks and activities will be accessed online, giving you the opportunity to learn from Oxford University academics, and gain a public policy qualification, from wherever you are in the world.

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Watch the one-minute video below for an overview of the course.
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https://www.youtube.com/watch?v=BG4owbfQ024&t=1s&ab_channel=BlavatnikSchoolofGovernment
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“I was able to broaden my knowledge and skills beyond the technical, especially on designing and implementing programs that are efficient, effective, and evidence-based. Through the course, I have the gained competencies that will enable me to communicate economic concepts, feasibility and analysis to stakeholders in a clear and understandable manner.”
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Oyinlola Adewoyin, Chief Engineer at the Lagos State Ministry of Works and Infrastructure
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Course outcomes

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On this online course, you can expect to learn the language and concepts of economics for public policy, including about ‘mainstream economics’, economic rationale for government intervention and the financial challenges of public policy. You will also receive a certificate to support your career progression. See our full learning outcomes section for more detailed information.

This programme is also certified by CPD UK. Learners will be able to request their CPD certificate after successfully finishing the course, using their certificate of completion as proof of eligibility. The course has an estimated 40 hours of learning, equating to 40 CPD points.

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Upon completion of the course, you will receive a certificate that will support your career progression and enhance your resume. You will have developed practical skills and solutions that you can take into your workplace, where they will have an immediate impact on your organisation. This programme is also certified by CPD UK.

Note, the onus is on students to request these CPD certificates at the end of their studies. The University and its partners accept no responsibility, and cannot be held responsible, for the claiming or validation of hours or points.

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On this online course, you can expect to achieve the following:

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  • Be able to explain what ‘mainstream economics’ is, identify relevant applications, and appreciate the limitations of this approach;
  • understand the economic rationale for government intervention in a variety of global settings, and critically appraise specific policy responses;
  • appreciate the challenges associated with the design and finance of public policy, both in theory and practice.
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“It is a great opportunity to learn from one of the most prestigious centres of learning in the world, if the person can afford the fees and make time to study around their normal daily work and other engagements.”
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Mobolaji Idowu, Project Manager at the Wildlife Conservation Society, Nigeria Program
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Modules

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You will study eight modules over the course of eight weeks. It is a collaborative learning process, week-by-week, so you will have ample opportunity to discuss key policy topics with your peers and a course Facilitator.

Activities will include set readings, reflection exercises, multiple-choice questions and discussion forums. Your Facilitator will guide you through these activities and provide feedback at each stage. These activities are not formally graded but you will need to participate in each to successfully complete the course and qualify for your certificate.

The final assessment, completed in module eight, will be your main summative assignment and marked by your Facilitator. Accompanying this in your final week will be a summative quiz. Altogether, the work you produce in your assessment week will be worth 50% of your final grade.

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Module 0: Getting started
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In this module, you will introduce yourself to your cohort and meet the Facilitator who will support you throughout the course. You will learn more about what the course offers and how to navigate the learning platform.
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Module 1: How (micro) economists think
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Your first module will focus on two topics: rational choice theory, and supply and demand. Based on the activities in this week, you can expect to be able to do the following:

  • Discuss what the mainstream economic approach is, and evaluate potential applications and limitations of the theory of rational individual choice;
  • Differentiate some key concepts used by economists following this approach: demand, supply, and market equilibrium.
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Module 2: What markets can achieve
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The two topics in this module are: markets and efficiency, and trade. Based on the activities in this week, you can expect to be able to do the following:

  • Critically assess how economists evaluate outcomes (of economic interaction);
  • Be aware of the conditions under which market outcomes are Pareto efficient;
  • Understand the theory of comparative advantage and its implications for patterns of trade.
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Module 3: Why markets can fail (I): imperfect competition
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In this module, there is a topic, imperfect competition, and a case study, US versus Microsoft. Based on the activities in this week, you can expect to be able to do the following:

  • Be aware of the different assumptions in the models of perfect competition and monopoly, and understand why monopoly (and market power more generally) is a source of market failure;
  • Outline the range of policy responses to natural monopoly and the challenges of competition policy.
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Module 4: Why markets can fail (II): imperfect information
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In this module, there is a topic, imperfect information, and a case study, The Affordable Care Act. Based on the activities in this week, you can expect to be able to do the following:

  • Be aware of different forms of asymmetric information, and understand why these asymmetries are sources of market failure;
  • Appreciate how private providers respond to asymmetric information, and the extent to which policymakers can intervene to address this source of market failure.
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Module 5: Why markets can fail (III): missing markets
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In this module, there is a topic, missing markets for external effects, and a case study, carbon pricing. Based on the activities in this week, you can expect to be able to do the following:

  • Be aware of the different sources of external effect – negative externalities, public goods, and common-pool resources – and understand why there is market failure in each case;
  • Appreciate the range of policy responses to external effects, including current debates concerning ways to reduce carbon emissions.
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Module 6: What to tax and why
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There are two topics in this module: tax incidence and optimal taxes. Based on the activities in this week, you can expect to be able to do the following:

  • Understand the concept of the economic incidence of a tax and how economists assess the ‘fairness’ of tax systems;
  • Appreciate the main lessons of the theory of optimal taxation, and be aware of the extent to which these lessons have been followed in practice.
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Module 7: Going macro
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There are two topics in this module: macroeconomic fundamentals, and downturns and policy responses. Based on the activities in this week, you can expect to be able to do the following:

  • Understand key macroeconomic variables and make comparisons across economies and over time;
  • Be able to link the different components of the monetary policy transmission mechanism;
  • Appreciate the economic basis for responses to different types of economic fluctuations.
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Module 8: Summative assessment
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In this final module, you will complete your main summative assignment. You will be given a fictional policy scenario and two technical reports that the fictional government commissioned from economists. First, you will answer a series of questions to test your comprehension of the material in the reports. Once complete, you will prepare a policy brief that covers the aspects discussed in previous modules.
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Fees and funding

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The total cost of this short course is £1,740 (inclusive of VAT), with discounts available to Oxford University alumni, those working in a public sector role (evidence is required) and those who choose to study more than one of our online courses (our multi-course pathway).

It is possible to pay your fees in two instalments, laying down a deposit (and reserving a space) before settling the final balance and securing your place on the course ahead of its start.

For more information about our deposit scheme or discounts you may be entitled to, please feel free to call us on +44 (0)1865 692 268 or email us.

Considering asking your employer to fund your studies? Read our blog on the best way to approach them for sponsorship.

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Learning experience

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In addition to learning from our expert world-leading academics, you will also benefit from a course Facilitator who will provide academic guidance throughout your learning journey.

Upon completion of the course, you will receive a certificate that will support your career in real terms. You will undertake an independent project that you can take into your workplace, potentially creating an immediate impact on your organisation. The Facilitator will:

  • comment on weekly discussions on specific topics;
  • provide feedback on all project tasks; and
  • give comments and feedback on all activities.

Your work on this course will bring theory to life through practical examples which you can apply to your own role:

  • interactive simulations
  • knowledge checks
  • case studies
  • discussion forums
  • practical exercises
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Live sessions with course experts

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During the programme, you will have the opportunity to attend live sessions with your Facilitator and fellow students. All sessions are optional. If you cannot attend, you will have full access to recordings after each one.

Week one: welcome and introductions

This session is a chance to meet your Facilitator and introduce yourself to your peers. The Facilitator will give you an overview of the course, and you will have the chance to ask any questions and to have an open discussion with other learners.

Week five: Q&A and final assessment preparation

At this stage in the course, it is a good time to hear reflections and general feedback from your Facilitator on any common misunderstanding or themes identified in the discussions and assessments. You will be able to ask your questions and engage in an open discussion with your peers. There is also the opportunity to look ahead and receive feedforward before your final assessment.

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Faculty

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Dr Clare Leaver

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Professor of Economics and Public Policy

Dr Clare Leaver is Professor of Economics and Public Policy at the Blavatnik School of Government, and a Fellow of University College, Oxford. She studies careers and incentives in the public sector, with a focus on education sectors in low and middle-income countries. Clare is Research Coordinator for the Research on Improving Systems of Education (RISE) Programme, Co-Academic Director of DeliverEd, a research programme which seeks to build evidence on delivery approaches for learning reform, Co-Academic Director of the People in Government Lab, and a Fellow at CEPR. She holds a PhD from the University of Bristol.

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Photo of Dr Clare Leaver
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Frequently asked questions

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How does economics relate to public policy?
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Most economic issues and decisions are viewed through the eyes of political beliefs. In turn, these beliefs turn into policies. Therefore, it is an advantage for public policy professionals to have at least a basic understanding of economics concepts so they can communicate with economists effectively in their work.
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How long does Oxford's Economics for Public Policy course take to complete?
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Our Economics for Public Policy course takes eight weeks to complete, with 3-5 hours of study time per week recommended.
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What are the entry requirements for Oxford's Economics for Public Policy course?
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There are no specific entry requirements for the Economics for Public Policy course, but please be aware that this is a master’s level programme; a certain level of commitment will be expected. Tasks and activities must be completed in order to successfully complete the course and gain a certificate.
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Who is Oxford's Economics for Public Policy course for?
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This course would best suit public policy professionals, or those aspiring to work in the sector, who need a better understanding of the relationship between economics and public policy.
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“This is a great opportunity to delve into specific topics of relevance to your career and/or interest in an environment that is self-paced. It also enables one to develop, gain knowledge, be challenged, and enhance or build new skills in a premier institution with a renowned organisation.”
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Dr Roni Ajao, Executive Director of a public sector consultancy in the UK
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