Description of summary on economic policy theory and practice aug 27 2020 by eleanor hibbert last version summary on economic policy theory and practice economic policy provides a unique combination of facts based analysis state of the art. Economic policy provides a unique combination of facts based analysis state of the art economic theory and insights from first hand policy experience at the national and international levels to . Theories of economic policy in developing an economic policy government officials rely on the recommendations of economists who typically base their analyses on theories of how the economy works or should work as might be expected economists often disagree on the cause of a stock market decline or the best solution for curbing inflation. Economic theory and economic policy economic policy or practice or applied economics provides a practical shape to economic theory in practice we apply economic principles for analysing the actual conditions of the economy economic theory and policy are closely related to each other for economic policy to be successful it has to be formulated on the basis of economic theories