Economic management refers to the process of overseeing and directing a country's economic policies and activities. It involves making decisions about resource allocation, production, and distribution to achieve sustainable growth and stability. Key components include fiscal policy, which deals with government spending and taxation, and monetary policy, which focuses on controlling the money supply and interest rates. Effective economic management aims to balance various factors such as inflation, unemployment, and economic growth. It requires collaboration among different sectors, including government, businesses, and consumers, to create a favorable environment for investment and development. Tools like economic indicators and budgeting are often used to assess and guide these efforts.