From economic point of view a policy can be analysed looking at whether the benefits of the policy measures is higher than the costs. Social cost benefit analysis is the most appropriate technique that helps in this approach. However, in health and social policies this often does not provide proper platform for economic analysis. Hence other approaches may be more useful. Stakeholder analysis, interpretive approaches, and discursive approaches are some other ways that might help.
Thank you for your answer. I would be interested to find out more about the stakeholder, discursive and interpretive approaches that you suggested. Could you (or anyone else) possibly suggest any sources of information on how to analyse policies using these approaches and / or examples of policy reviews which have used these approaches?
Stakeholder analysis is available in many forms - mostly they look at it from actors' interest, power, and influence point of view (Mitches, Agle & Wood, 1997). Strategic Management literature often uses the power-interest matrix while analysing governance. But this can be very well used for policy analysis also. Advocacy Coalition Approach (Sabatier) is one that tells how actors' values affects policy decisions. Ostrom's IAD framework also can be used for stakeholder analysis. All these frameworks help looking policies from certain angles.
Discursive methods and interpretive methods are are useful. Frank Fischer' book Reframing policy...... may be useful. Dvora Yanow similarly has worked on interpretive aspects.
The above may provide some lead into the three approaches.
I would suggest reading the book by William Dunn:Policy Analysis: an Introduction. It is a classic in this field giving a range of possible approaches.