Economic policy refers to the actions that governments take in the economic field. It covers the systems for setting interest rates and government budget as well as the labor market, national ownership, and many other areas of government interventions into 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.

Almost any aspect of government has an economic aspect and so many terms are used. A few example of types of economic policy include:

Stabilization policy attempts to stimulate an economy out of recession or constrain the money supply to prevent excessive inflation.

Policy is generally directed to achieve particular objectives, like targets for inflation, unemployment, or economic growth. Sometimes other objectives, like military spending or nationalization are important.

These are referred to as the policy goals: the outcomes which the economic policy aims to achieve.

Randal Howard "Rand" Paul (born January 7, 1963) is the junior United States Senator for Kentucky. He is a member of the Republican Party. A member of the Tea Party movement, he describes himself as a "constitutional conservative" and a libertarian. He is the son of Republican Congressman and 2012 Republican presidential candidate Ron Paul of Texas and had never previously held political office. Paul first received national attention in 2008 when making political speeches on behalf of his father. Rand Paul is the first United States Senator in history to serve alongside a parent in the United States House of Representatives.

A graduate of the Duke University School of Medicine, Paul has been a practicing ophthalmologist in Bowling Green, Kentucky, since 1993, and established his own clinic in December 2007. In 1994, he founded Kentucky Taxpayers United, of which he is still the chairman.

In 2010, Paul ran as the Republican candidate for the United States Senate seat being vacated by retiring Senator Jim Bunning of Kentucky and defeated Kentucky Attorney General Jack Conway. As a supporter of the Tea Party movement, Paul has been vocal in advocating for term limits, a balanced budget amendment, and the Read the Bills Act, in addition to the widespread reduction of federal spending and taxation. He has gained prominence for his independent positions on many political issues, often clashing with both Republicans and Democrats.

Justin Pierre James Trudeau, MP (born December 25, 1971) is a Canadian politician. He has represented the Montreal electoral division of Papineau in the Canadian House of Commons since 2008 as a member of the Liberal Party and currently serves as the party's critic for youth, post-secondary education, and amateur sport.

Trudeau is the eldest son of the late former Canadian prime minister Pierre Trudeau and Margaret Sinclair Trudeau Kemper. His maternal grandfather, James Sinclair, was also a federal cabinet minister.

Trudeau was born on December 25, 1971, in Ottawa, Ontario. He was only the second child in Canadian history to be born when one of his parents was prime minister; the first was John A. Macdonald's youngest daughter Margaret Mary Macdonald, and Trudeau's younger brothers Alexandre (Sacha) (born December 25, 1973) and Michel (1975–98) were the third and fourth, respectively. Pierre and Margaret Trudeau separated in 1977, when Justin was six years old, and Pierre retired as prime minister in 1984. Of his mother and father's marriage, Trudeau said in 2009, "They loved each other incredibly, passionately, completely. But there was 30 years between them and my mom never was an equal partner in what encompassed my father's life, his duty, his country."