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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.
Policy design entails conscious and deliberate effort to define policy aims and map them instrumentally. [71] 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
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 ...
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 ...
One question is which kinds of industrial policy are most effective in promoting economic development. For example, economists debate whether developing countries should focus on their comparative advantage by promoting mostly resource- and labor-intensive products and services, or invest in higher-productivity industries, which may only become ...
The economic policy of the Joe Biden administration, colloquially known as Bidenomics (a portmanteau of Biden and economics), is characterized by relief measures and vaccination efforts to address the COVID-19 pandemic, investments in infrastructure, and strengthening the social safety net, funded by tax increases on higher-income individuals and corporations.
The first step for the policy analyst is to identify the space in which the policy problem exists. This is generally a broad policy space, such as health policy or environmental policy. Next the analyst defines the specific policy issue area. In keeping with the example, the narrower policy issue area is renewable energy.