The Curriculm

The Master of Public Policy (Public Economics) degree requires two consecutive years of study on a full-time basis. The curriculum consists of courses in Theoretical Foundations, Fiscal and Public Sector Policy, and Monetary and Financial Sector Policy, in addition to a course in English Thesis Writing (a lecture on English thesis writing and a tutorial providing one-on-one guidance). With his or her academic advisor's advice and approval, a student will take the "required courses" and "strongly recommended courses", and choose among the "elective courses" suitable for his or her individual educational objectives and career goals. Courses offered by the Graduate School of Economics and Global Governance Program of the School of International and Public Policy are also open to students that could benefit from these courses.

To receive the Master of Public Policy degree, students of Asian Public Policy Program (APPP) must successfully complete at least 44 credits of graduate study. The study includes 16 credits of required courses to be completed during the first year, 11 credits of strongly recommended courses, a minimum of 9 credits of elective courses, and 8 credits of seminar work. APPP students must also write a Master's thesis under the supervision of their academic advisor and pass a final oral examination.

The curriculum consists of "two-credit courses" and "four credit courses". A two-credit course is a semester-long course with a weekly 1.75-hour class meeting, except for the English Thesis Writing which is a one-year course. A four-credit course is either a semester-long course with two 1.75-hour class meetings a week, or a one-year course with a 1.75-hour class meeting a week.

Required Courses

Theoretical Foundations

Four courses are offered in this group, with a view to providing students with a solid grounding in economic theory relating to the public sector, micro-economic theory, an analytical and theoretical framework for macro-economic policymaking, as well as quantitative techniques of econometric analysis. These are required courses for all first-year students, as these theoretical foundations are the basis for the analysis of policy issues. Each of the required courses carries four credits. Though not a required course, first-year students are expected to take Financial Programming for Macro-Economic Policy Formulation as a short-term intensive course.

Micro-economics for Public Policy
Macro-economics: Theory and Policy
Fundamentals of Econometric Methods Ⅰ
Fundamentals of Econometric Methods Ⅱ
Economics of the Public Sector Ⅰ
Economics of the Public Sector Ⅱ

[For more details, please refer to web syllabi.]

Strongly Recommended Courses

Since strongly recommended courses are very important, the registration for these courses are mandatory. However, unlike "required courses", getting a passing grade is not a requirement for successful graduation. (The courses with a △ indicated on the right side of the course name are considered as "strongly recommended courses".

Elective Courses

These courses are intended to provide students with the necessary knowledge and skills to solve specific public policy problems.

Fiscal Policy

Public Sector Policy

Monetary and Financial Policy

Joint Course

Japan's Foreign Policy Making Ⅰ
Japan's Fiscal and Monetary Policy Making

[For more details, please refer to web syllabi.]

Current Issues - Workshops and Intensive Courses

These courses provide lectures on current policy issues by outside lecturers who are at the forefront of policy or by renowned specialists in the field.

Workshop on Current Topics

In 2020/21, the topics that were covered included (i) Post U.S. Elections: Expectations and Chalenges , (ii) The bank business model in the post-Covid-19 world , (iii) Towards Strong Economic Recovery and Sound Public Finances in Asia, (iv) Would Population Aging Change the Output Effects of Fiscal Policy?, (v) Distributed ledger technology: role and relevance for financial services and supervision , (vi) Minimum Wage Effect with Varying Enforcement Levels: Empirical Evidence from Vietnam, (vii) Digital Currency in Asia, etc.

Workshop on Current Topics △
Financial Programming for Macroeconomic Policy Formulation (two-weeks intensive course) △
ESG Investing and SGDs △

Issues on Public Policy I - X

Among the issues covered during previous years are Time-Series Econometrics, Financial Sector Development, Fiscal Management and Central Banking, Financial Economics.

Issues on Public Policy I: Economic Surveillance and Regional Financial Arrangements in Asia

Issues on Public Policy I:
Issues on Public Policy II:
Issues on Public Policy III: Macroeconomic Time Series Analysis △
Issues on Public Policy IV:
Issues on Public Policy V: △
Issues on Public Policy VI:
Issues on Public Policy VII: Building More Inclusive Financial Systems: Microfinance and SME Finanace △
Issues on Public Policy VIII: Seleceted Issues in Public Financial Management △
Issues on Public Policy IX:
Issues on Public Policy X: Economic Surveillance and Regional Financial Arrangements in Asia

Seminar Work

In addition to the above structured courses, students are required to belong to a specific "seminar group" led by an academic advisor, where each group participant pursues, under the guidance of the advisor, specific topics of his or her interest. The Master's thesis will be based on work done in the context of this seminar activity. Thus the participation in the seminar, a full year course carrying four credits, is a focal point of the student's study and research activities at APPP. Seminar Work is required for graduation.

Seminar I (For M1 students)
Seminar II (For M2 students)

Thesis Writing Tutorial(compulsory)

English Thesis Writing I (for first year students) △
English Thesis Writing II (for second year students) △

A two-credit course on thesis writing is required on English thesis writing (course work plus tutorials).

The schedule and the course description

The schedule and the course description can be found here.

Timetable, Fall Download (PDF)


  • Hitotsubashi University
  • School of International and Public Policy