Fiscal governance consists of the systems, processes and tools that ensure the prudent management of financial resources in the public sector. Fiscal governance is crucial to the long-term prosperity of countries as it relates to fundamental policy choices that are made about taxation, public spending and public debt. In today’s sophisticated economic and institutional conditions, fiscal policies are made through complex interactions between central governments, central banks, sub-national governments, supernational organisations, the financial sector. At the same time, inclusiveness in budgeting processes (e.g., citizen participation, gender equality in budgeting) and crisis preparedness (e.g., climate change, man-made disasters) have also become crucial. In this context, this module examines the key concepts, tools and theoretical frameworks of public financial management. The course begins with presenting what public financial management, main theoretical frameworks and the tools of public financial management. The course then proceeds with the political and administrative dimensions of public financial management. Empirically, the course will look at various current debates on fiscal governance, from the choice about what to tax and how much, to the relationship between public debt and economic growth, to the advantages of accrual accounting in the public sector. In classes, students will be required to analyse and present assigned case studies. Students will be expected to participate actively, where they will develop skills and capabilities about applying theories and methods to tackling fiscal governance issues.