York, United Kingdom

Economics and Public Policy

Master's
Language: EnglishStudies in English
Subject area: economy and administration
Qualification: MSc
Kind of studies: full-time studies
Master of Science (MSc)
University website: www.york.ac.uk
Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Policy
A policy is a deliberate system of principles to guide decisions and achieve rational outcomes. A policy is a statement of intent, and is implemented as a procedure or protocol. Policies are generally adopted by a governance body within an organization. Policies can assist in both subjective and objective decision making. Policies to assist in subjective decision making usually assist senior management with decisions that must be based on the relative merits of a number of factors, and as a result are often hard to test objectively, e.g. work-life balance policy. In contrast policies to assist in objective decision making are usually operational in nature and can be objectively tested, e.g. password policy.
Public
In public relations and communication science, publics are groups of individual people, and the public (a.k.a. the general public) is the totality of such groupings. This is a different concept to the sociological concept of the Öffentlichkeit or public sphere. The concept of a public has also been defined in political science, psychology, marketing, and advertising. In public relations and communication science, it is one of the more ambiguous concepts in the field. Although it has definitions in the theory of the field that have been formulated from the early 20th century onwards, it has suffered in more recent years from being blurred, as a result of conflation of the idea of a public with the notions of audience, market segment, community, constituency, and stakeholder.
Public Policy
Public policy is the principled guide to action taken by the administrative executive branches of the state with regard to a class of issues, in a manner consistent with law and institutional customs.
Economics
How is property given? By restraining liberty; that is, by taking it away so far as necessary for the purpose. How is your house made yours? By debarring every one else from the liberty of entering it without your leave.
Jeremy Bentham, "A Critical Examination of the Declaration of Rights; Article II" in The Works of Jeremy Bentham, Vol. II (1839), p. 503.
Economics
The field of economics is not exempt from the consequences of chaos and complexity. Marketplaces are indeterminate; value is subjective; and outcomes are subject to interpretation. Economic forecasting is just as nebulous, being based on the probability of statistical information that may or may not be accurate.
L.K. Samuels, In Defense of Chaos: The Chaology of Politics, Economics and Human Action, Cobden Press (2013) p. 16.
Policy
When I see a merchant over-polite to his customers, begging them to taste a little brandy and throwing half his goods on the counter,—thinks I, that man has an axe to grind.
Charles Miner, Who'll turn Grindstones? Essays from the Desk of Poor Robert the Scribe. In The Gleaner (Wilkes-Barre, Pennsylvania) (1811).
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