THE STUDY OF ANALYTICAL AND FUNCTIONAL MODELS AND APPROACHES IN ECONOMIC POLICY

Economic policy consists of various methodologies, approaches and models through which the economists devise strategies to influence the overall economy. The integration of theoretical and practical frameworks provides the ground for emerging new models which are a part of economic system of the countries.Each economic model is a combination of specific methodology, theoretical bases and special form of executive approaches. In this paper different economic policy models such as Strategic Analysis, Cyclical Analysis, Decision Making, Organization and Network, Trans-government Institution, Static Equilibrium along with long term economic growth and full employment approaches have been taken into consideration. It is obvious that the appropriateness of each model depends on the international atmosphere and economic status of the countries in which the aforementioned models are applied.