Institutional Determination as a Factor in the Interrelations between Economy and Policy

The analysis of the interrelations between the economy and policy is significant in developing contemporary models in conceptual plan, applicable on macro, mezzo and micro level. It turns out that the economists have to focus preferably on the applications of the economic theory of the policy and on the theory of the public choice, in order to enrich and update the economic studies and to optimize the connection between objectives, analyses and estimations. It is necessary the institutional factor to be presented by the prism of the value and normative system of the society and to connect with the institutional determination and political rationality. The study confirms that the political programs and political consequences should not be neglected and that the economists should include them systematically in their analyses. Defended is the thesis that the analytical renewal of the traditional statements and the introduction of the interdisciplinarity will help the optimization of the institutional policy in its reveals on different levels.