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Policy analysis or public policy analysis is a technique used in the public administration sub-field of political science to enable civil servants, nonprofit organizations, and others to examine and evaluate the available options to implement the goals of laws and elected officials.
Almost every aspect of government has an important economic component. A few examples of the kinds of economic policies that exist include: [1] Macroeconomic stabilization policy, which attempts to keep the money supply growing at a rate that does not result in excessive inflation, and attempts to smooth out the business cycle.
An economic impact analysis is commonly conducted when there is public concern about the potential impacts of a proposed project or policy. [1] [2] An economic impact analysis typically measures or estimates the change in economic activity between two scenarios, one assuming the economic event occurs, and one assuming it does not occur (which ...
Public economics (or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity. Public economics builds on the theory of welfare economics and is ultimately used as a tool to improve social welfare. Welfare can be defined in terms of well-being, prosperity, and overall state of being.
Policy studies is a subdiscipline of political science that includes the analysis of the process of policymaking (the policy process) and the contents of policy (policy analysis). [1] Policy analysis includes substantive area research (such as health or education policy), program evaluation and impact studies, and policy design. [ 2 ]
Policy design entails conscious and deliberate effort to define policy aims and map them instrumentally. [66] Policy design proposes critical analysis of policy instruments and their implementation. Uncertainties policy designers face include (in brief): Technical difficulties: mechanism, design, constituency, environment of public policies
The unusually large government sector in countries like Saudi Arabia means that even though there is a market, central government planning controls allocation of most economic resources. In the United States, the government temporarily seized large portions of the economy during World War I and World War II, resulting in a largely government ...
Fiscal policy can be distinguished from monetary policy, in that fiscal policy deals with taxation and government spending and is often administered by a government department; while monetary policy deals with the money supply, interest rates and is often administered by a country's central bank. Both fiscal and monetary policies influence a ...