What does “economic policy” focus on?

The focus of economic policy is primarily on the management of the economy, which encompasses various factors such as taxation, government spending, inflation, and unemployment. Economic policy is concerned with how a government interacts with its economy and utilizes tools to influence economic performance and growth. This includes creating and enforcing laws related to taxation and fiscal policy, which directly impact individuals and businesses.

By effectively managing these aspects, economic policy aims to foster sustainable economic growth, improve standards of living, and respond to economic challenges. While international trade agreements, human rights issues, and academic funding initiatives may intersect with economic policies, they do not inherently define the core focus of economic policy itself. Economic policy is fundamentally about the economic framework and regulatory structures that guide economic activity within a nation or region.