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Social policy is a term which is applied to various areas of policy, usually within a governmental or political setting (such as the welfare state and study of social services).ocial policy is an academic discipline focusing on the systematic evaluation of societies' responses to social need. It was developed in the early-to-mid part of the 20th century as a complement to social work studies.
Definition of 'Monetary Policy'. Tweet. Monetary policy is the macroeconomic policy laid down by the central bank. Definition: Monetary policy is the macroeconomic policy laid down by the central bank. It involves management of money supply and interest rate and is the demand side economic policy used by the government of a country to achieve macroeconomic objectives like inflation, consumption, growth and liquidity.