The role of economists is decisive for the correct and effective implementation of the economic policies addressed to fulfil objectives for the social improvement.
7 june 2016
A report of the World Institute for Development Economics Research of the United Nations University develops the role that economists have in defining the economic policies they adopt in a state after their approval and composition of objectives of the later operating actions.
This analysis emphasises how important the labour of Economy professionals is in all the economic processes carried out in society. Political decisions require these professionals to articulate the objectives and find the most appropriate ways of addressing them.
Economists do not have special competence in determining which should be the objectives of the policies, but they are in charge of helping in translating the proposals into operative ways to facilitate their implementation
The first step to establish an economic policy is determining the social objective pursued. In this process, many more actors participate in a democratic way such as governments, political parties, representatives of economic interests (farmers, workers, consumers, intellectual people, associations, etc.). Economists are not responsible for establishing the objective, but to make the proposals operative to be able of addressing them appropriately.
The result of the agreement between the different social actors in determining concrete objectives on which economic policies are constituted is explained in a qualitative way. We can find an example in the Sustainable Development Goals of the United Nations: “assuring the access to quality education for all the children.” The tasks of economists is shaping these statements and proposing feasible actions, based and justified with a theoretical basis.
Circumstantial factors can determine the success or failure of the implemented economic policies
The design of programmes for the implementation of economic measures occupies great part of the dedication of economists. This job is complicated when is not easy to assure the action effectiveness or there are difficulties during launching of those measures. Circumstantial factors such as change of government, pressures of advocacy groups or other aspects can risk the economic policies expected to fulfil the established social objectives.
The report explains that the expected intervention of economists is subjected to many other determinants that affect the success or failure of the plan. This way, the author argues that in the objective of eradicating child malnutrition come into play factors such as the parents’ income, water treatment, food supply, weather conditions that may ruin the harvests, etc. Elements whose influence escapes from the forecasting of economists.
One of the challenges of this Master’s Degree in Economic Policy and Public Economics of the Universitat de València is training these economy professionals so that they can efficiently carry out their functions and have a positive impact on population and society in general.
