We often hear about public policy in the news — when governments introduce new laws, social reforms, or economic measures. But what does the term actually mean? In simple terms, public policy refers to the decisions, strategies, and actions taken by governments to address public issues and improve the well-being of citizens.
At Universidad Europea, the Double Degree in Relations and Law in Valencia equips students with the knowledge to understand how legal frameworks and business strategies influence public policy. This multidisciplinary programme helps future professionals analyse social challenges and design solutions that balance economic, ethical, and legal perspectives.
What is public policy?
Public policy is the process through which governments identify societal problems, develop responses, and implement laws or regulations to achieve desired outcomes. It can cover areas such as:
- Economic growth and taxation
- Education and healthcare
- Environmental protection
- Employment and social welfare
- Justice and security
Essentially, public policy defines how resources are distributed and how governments prioritise social goals. It reflects not only political choices but also the values and needs of a nation.
The policy-making process
Creating public policy involves several stages, each requiring collaboration between government institutions, businesses, and citizens. These typically include:
- Problem identification: Recognising a social, economic, or environmental issue that needs attention.
- Policy formulation: Developing potential solutions, often through expert research or public consultation.
- Decision-making: Choosing the best policy option and securing approval through legislative or executive means.
- Implementation: Putting the policy into action through laws, regulations, or government programs.
- Evaluation: Assessing its impact and making adjustments if necessary.
Students studying business and law learn to evaluate these stages critically, considering both the legal implications and the economic consequences of each policy decision.
The role of law and business in public policy
Law provides the structure that allows policies to function, while business shapes how those policies affect the economy. A solid understanding of both areas is vital for anyone aiming to influence policy development or compliance.
For example:
- Tax and trade policies affect corporate behaviour and competitiveness.
- Environmental regulations encourage companies to adopt sustainable practices.
- Employment laws influence business operations and workers’ rights.
Professionals who understand both legal systems and economic realities can help design fair and effective policies — ensuring that regulations promote innovation and protect public interests.
Why public policy matters
Public policy directly impacts daily life, determining how societies respond to issues like inequality, healthcare, education, and climate change. It also sets the framework for how businesses operate, how justice is applied, and how governments allocate resources.
Understanding public policy gives future leaders the ability to:
- Analyse how political and economic decisions interact.
- Advocate for ethical and effective reforms.
- Collaborate across sectors to solve complex social challenges.
That’s why a double education in business and law is so valuable — it empowers graduates to think strategically and act responsibly in both the private and public spheres.
Conclusion: shaping society through policy
Public policy is the bridge between ideas and action — turning social needs into practical solutions that shape the future of nations. By combining knowledge of law, economics, and governance, students can become powerful agents of change.
In summary:
- Public policy refers to government actions that address social and economic issues.
- Law and business play a central role in policy creation and implementation.
- Understanding public policy helps professionals make informed, ethical, and impactful decisions.
If you want to explore how decisions made in government and business transform society, discover the Double Degree in Business and Law in Valencia at Universidad Europea, or any of our degrees in the area of international relations or law and prepare to lead at the intersection of law, economics, and public service.