Implementation of the Situation approach in the synthesis of the alternative macroeco-nomic conceptions for the purpose of determining the optimal macroeconomic policy in Macedonia
Journal
Annual of Faculty of Economics - Skopje
Date Issued
2010
Author(s)
Abstract
Which school of economic thought (or economists) should be
trusted? This question presents a challenge for creation of a number of
syntheses - which provide different ways for economic science to fulfill its
tasks; to diagnose numerous situations in economic life, to propose
solutions for changes in a positive direction, to predict future events and
trends etc. Through confrontation of different schools of economic
thought, especially among the leading schools, the process of their
convergence and of building standard knowledge about economic life
(standard economic science) continues. This paper aims to create a
"bridge" between facts and events in economic life on one hand, and
macroeconomic concepts that constitute the basis for implementation of
economic policy on the other, especially with a special focus on the
situation in the Republic of Macedonia. The paper is divided into three
sections: The first section indicates the possibilities for synthesis of the
dominant macroeconomic concepts and policies, and their importance
for the implementation of economic policy. In the second section we
design a situation model by using four variables: the nature of the market
system, the key problem, the competence of the government, and the
expectations of individuals. The intersection of the four variables would
recommend an optimal theoretical conception of economic policy. The
third part is focused on determining the best macroeconomic concept
based on the formulated situation model that will present a solid basis
for implementation of a successful economic policy in the Republic of
Macedonia.
trusted? This question presents a challenge for creation of a number of
syntheses - which provide different ways for economic science to fulfill its
tasks; to diagnose numerous situations in economic life, to propose
solutions for changes in a positive direction, to predict future events and
trends etc. Through confrontation of different schools of economic
thought, especially among the leading schools, the process of their
convergence and of building standard knowledge about economic life
(standard economic science) continues. This paper aims to create a
"bridge" between facts and events in economic life on one hand, and
macroeconomic concepts that constitute the basis for implementation of
economic policy on the other, especially with a special focus on the
situation in the Republic of Macedonia. The paper is divided into three
sections: The first section indicates the possibilities for synthesis of the
dominant macroeconomic concepts and policies, and their importance
for the implementation of economic policy. In the second section we
design a situation model by using four variables: the nature of the market
system, the key problem, the competence of the government, and the
expectations of individuals. The intersection of the four variables would
recommend an optimal theoretical conception of economic policy. The
third part is focused on determining the best macroeconomic concept
based on the formulated situation model that will present a solid basis
for implementation of a successful economic policy in the Republic of
Macedonia.
Subjects
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