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Economic Policy
Guide: Economic Policy

This list provides an overview of the major challenges and goals of economic policymaking. A series of documents illustrate the conflicting partisan viewpoints on the role of government in shaping the economy. Use the Export to My Lists button above to turn this into a research list for your students.

Theme Key Understandings

  • Governments' approaches to regulation change over time based on domestic and global circumstances
  • American domestic policies span a spectrum from a free-market approach to a highly regulatory approach
  • A citizen's opinion on the need for regulation generally depends on his or her role in society
  • Social and economic policies form the basis of domestic policy
  • Through social policy, government officials can provide programs and services to maintain and improve citizen welfare
  • Through economic policy, the government seeks to maintain stability for the national economy
  • Foreign policies are influenced by the accepted doctrine of a time period, which is often shaped in reaction to world events
  • The executive branch plays the leading role in directing foreign policy

Key Questions

  • Describe the different approaches represented by supply-side and demand-side fiscal policy. How are these policies reflected in the platforms of the Democratic and Republican parties in the modern day United States?
  • Briefly describe the primary areas where the U.S. government spends money. What surprises you the most about where government spending goes?


  1. Overview: Economic Policy
  2. Outlines: Outline
  3. Transcripts: Transcript
  4. Lesson: Introduction
  5. Lesson: 1-Economic Policy
  6. Lesson: 2-Taxation
  7. Lesson: 3-Government Spending
  8. Lesson: 4-Deficit Spending and the Debt
  9. Lesson: Closing
  10. Glossary Terms: discretionary spending
  11. Glossary Terms: mandatory spending
  12. Facts & Figures: CBO Long Term Spending Projections as a Percentage of GDP (2018)
  13. Reference Articles: Capitalism
  14. Reference Articles: Economic Freedom
  15. Reference Articles: Reagan Administration: Supply-Side Economics
  16. Biographies: Friedman, Milton
  17. Biographies: Keynes, John Maynard
  18. Speeches: McConnell, Mitch: remarks on the Budget Control Act (2011)
  19. Speeches: Obama, Barack: Remarks on fiscal policy (2011)

MLA Citation

"Economic Policy." History Hub, ABC-CLIO, 2019, historyhub.abc-clio.com/Support/Content/2156149?cid=256. Accessed 6 Dec. 2019.

Entry ID: 2156149

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