The focus of this course is on creating and managing multi-stakeholder processes that take place in the local and regional urban economy. Regions and localities are faced with two mayor trends in opposite directions: internationalisation and decentralisation. Internationalisation exacerbates the interactions between the global and the local levels but operates selectively. It includes only those actors that participate in networks in which competitiveness drives constant transformations and restructuring. Decentralisation is a means to coping with complexity and a reaction to growing demands for greater responsiveness and sustainability by citizens, clients and consumers. The two trends have changed the ways in which the multiple stakeholders relate to each other in the local and regional economy.