Economic policy refers to the actions that governments take in the economic field.
A policy is a deliberate system of principles to guide decisions and achieve rational outcomes.
A government is the system by which a state or community is controlled.
Watch Donald Trump's full speech on economic policy by PBS NewsHour
It covers the systems for setting levels of taxation, government budgets, the money supply and interest rates as well as the labor market, national ownership, and many other areas of government interventions into the economy.
A government budget is a government document presenting the government's proposed revenues and spending for a financial year that is often passed by the legislature, approved by the chief executive or president and presented by the Finance Minister to the nation.
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context, or is easily converted to such a form.
A tax is a financial charge or other levy imposed upon a taxpayer by a state or the functional equivalent of a state to fund various public expenditures.
Fiscal Policy and Stimulus: Crash Course Economics #8 by CrashCourse
Most factors of economic policy can be divided into either fiscal policy, which deals with government actions regarding taxation and spending, or monetary policy, which deals with central banking actions regarding the money supply and interest rates.
Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.
In economics and political science, fiscal policy is the use of government revenue collection and expenditure to influence the economy.
Such policies are often influenced by international institutions like the International Monetary Fund or World Bank as well as political beliefs and the consequent policies of parties.
The International Monetary Fund is an international organization headquartered in Washington, D.C., of "189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world."
The World Bank is an international financial institution that provides loans to developing countries for capital programs.
Politics is the process of making decisions applying to all members of each group.