This is an introductory module designed for students who have little or no background in budgeting and financial management. You will learn to understand the basic language of budgeting and become familiar with the different types of budgets and budget skills used in public, nonprofit, and for-profit organizations. The course will teach specific tools that are used in budgeting and financial management, using combination of lectures, case method, in-class exercises, simulations, clinics and on-line tutorials. Topics covered include budget formulation, budget analysis, budget execution, operating and capital budgets, variance analysis, cost accounting, capital budgeting, revenue forecasting, performance and participatory budgeting, and the balanced scorecard. We do not teach financial accounting (which is taught in MLD-401m). Professor Bilmes will draw on her experience with budgeting in the public and private sector, including estimating the costs of war, the value of natural capital and budgeting for the Sustainable Development Goals to demonstrate how these techniques can be used in public policy. Professor Iammartino will draw on his background in real estate and accounting to provide guidance in how to set up financial spreadsheets and use basic financial tools when developing capital budgets. Most of the material covered is based on organizations such as local and national governments, hospitals, museums, small businesses and other institutions that are transferable to international settings. The module is prerequisite for the Advanced Applied Field Lab (MLD-412/ MLD-412m).