main functions of economic theory were formed during the formation of this science.There are only five.
1. Informative.The implementation of this function of economic theory is through the study of the processes and phenomena in this area.When science discovers and formulates new categories and laws, thus it adds knowledge of the person, increases the intellectual potential of the whole society.She also contributes to the expansion of world people, scientific forecasting of economic development of society.
2. Methodological.The meaning of this function of economic theory is that it reveals the basic concepts, categories, laws and principles of management.And all of them have practical applications in many fields of human activity.That is based on the economic theory of a number of other sciences in this field.
3. Practical.The essence of the function of economic theory is reduced to the justification of the state policy in this area in terms of science.Also, in practice, develop recommendations regarding the use of the methods and principles of good management.
Economic policy looks like a whole system of measures taken by the State.All of them are aimed at the economic development of the nation and affect the interests of all social classes.In its competence to determine the best possible solutions encountered problems in this regard.
economic theory and practice are in a close relationship with each other.Without two-way communication, they lose all meaning.For example, an order for theoretical research is the practice of forms.It provides material for scientific analysis and gives a final assessment of the viability of any theory.Practice is the criterion for the authenticity of the present knowledge on the economy.It encourages the study.It also leads to the prediction, the next step of which - rational action, involving continuous improvement practices.This cyclical nature is endlessly repeated, each time rising to a higher level.
4. Predictive.It manifests itself in the development of scientific basis for forecasting the development prospects of the country in the future in terms of the economy and society.In practice, it is to develop long-term forecasts of execution of programs related to the development of social production.And they take into account and future resources, and the costs and options for the final results.
5. Educational.The meaning of this function is the economic theory of the formation of the citizens of analytical skills, modern type of thinking, logic and culture.All this will help them in the new market system develop economic, good behavior.The result of effective impact of this function is to create a complete picture of the population on how the economic system works at the level of the nation and the world.In addition, it brings an understanding that only in-depth knowledge, the manifestation of initiative and enterprise, persistent work, informed decision-making and the ability to take responsibility for their own actions in a competitive environment will help to achieve a high level of success in life and profession.
Currently, the country continues to transition to a market economy.Therefore, in modern conditions play a significant role and functions of the subject of economic theory.After in-depth knowledge are essential in order to change the conditions of life for the better.It is impossible to do without mastering the economic laws and mechanisms of their use in economic activities, without the ability to recognize the nature of interdependencies and relationships in this area.