PolicyPolicy is a deliberate system of guidelines 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 used 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.
Public policyPublic policy is an institutionalized proposal or a decided set of elements like laws, regulations, guidelines, and actions to solve or address relevant and real-world problems, guided by a conception and often implemented by programs. The implementation of public policy is known as public administration. Public policy can be considered to be the sum of a government's direct and indirect activities and has been conceptualized in a variety of ways. They are created and/or enacted on behalf of the public typically by a government.
Policy analysisPolicy analysis or public policy analysis is a technique used in the public administration sub-field of political science to enable civil servants, nonprofit organizations, and others to examine and evaluate the available options to implement the goals of laws and elected officials. People who regularly use policy analysis skills and techniques on the job, particularly those who use it as a major part of their job duties are generally known by the title Policy Analyst.
Policy studiesPolicy studies is a subdiscipline of political science that includes the analysis of the process of policymaking (the policy process) and the contents of policy (policy analysis). Policy analysis includes substantive area research (such as health or education policy), program evaluation and impact studies, and policy design. It "involves systematically studying the nature, causes, and effects of alternative public policies, with particular emphasis on determining the policies that will achieve given goals.
Social policySocial policy is a plan or action of government or institutional agencies which aim to improve or reform society. Some professionals and universities consider social policy a subset of public policy, while other practitioners characterize social policy and public policy to be two separate, competing approaches for the same public interest (similar to MD and DO in healthcare), with social policy deemed more holistic than public policy. Whichever of these persuasions a university adheres to, social policy begins with the study of the welfare state and social services.
Direct air captureDirect air capture (DAC) is the use of chemical or physical processes to extract carbon dioxide directly from the ambient air. If the extracted is then sequestered in safe long-term storage (called direct air carbon capture and sequestration (DACCS)), the overall process will achieve carbon dioxide removal and be a "negative emissions technology" (NET). As of 2022, DAC has yet to become profitable because the cost of using DAC to sequester carbon dioxide is several times the carbon price.
Market failureIn neoclassical economics, market failure is a situation in which the allocation of goods and services by a free market is not Pareto efficient, often leading to a net loss of economic value. Market failures can be viewed as scenarios where individuals' pursuit of pure self-interest leads to results that are not efficient – that can be improved upon from the societal point of view. The first known use of the term by economists was in 1958, but the concept has been traced back to the Victorian philosopher Henry Sidgwick.
System dynamicsSystem dynamics (SD) is an approach to understanding the nonlinear behaviour of complex systems over time using stocks, flows, internal feedback loops, table functions and time delays. System dynamics is a methodology and mathematical modeling technique to frame, understand, and discuss complex issues and problems. Originally developed in the 1950s to help corporate managers improve their understanding of industrial processes, SD is currently being used throughout the public and private sector for policy analysis and design.
Conceptual modelA conceptual model is a representation of a system. It consists of concepts used to help people know, understand, or simulate a subject the model represents. In contrast, a physical model focuses on a physical object such as a toy model that may be assembled and made to work like the object it represents. The term may refer to models that are formed after a conceptualization or generalization process. Conceptual models are often abstractions of things in the real world, whether physical or social.
Carbon capture and storageCarbon capture and storage (CCS) is a process in which a relatively pure stream of carbon dioxide (CO2) from industrial sources is separated, treated and transported to a long-term storage location. For example, the carbon dioxide stream that is to be captured can result from burning fossil fuels or biomass. Usually the CO2 is captured from large point sources, such as a chemical plant or biomass plant, and then stored in an underground geological formation. The aim is to reduce greenhouse gas emissions and thus mitigate climate change.
