This article is dedicated to elaboration of the conceptual model and methodology for assessing the efficiency of language policy as the institutional framework of economic policy in the conditions of monolingual region of the Russian Federation. Application of the constructivist approach allowed determining the important role of symbolic space as an environment of the influence of language policy on economic development. The article substantiates the idea of transformation of the basic symbolic metaphor of language, which consists in transition from the metaphor of language as a “mirror"” to the metaphor of language as a “dialogue”. It is underlined that such transformation reorients language policy towards the perception of language as the active means for constructing social reality and socioeconomic relations, as well as forces to constantly clarify and revise its functional role in the economic culture. The novelty of this work consists in elaboration of the conceptual model and methodology for assessing the efficiency of language policy as the institutional framework of economic policy in the conditions of monolingual region. It is proven that there is a dependence, as well as immediate vicarious link between the language policy and the level of economic development of the region. The author establishes that namely the economic literacy is the resulting relevant criterion for assessing efficiency of the impact of language policy upon economic development of the region. It demonstrated that comprehensive assessment of efficiency of the impact of language policy upon economic development of the region is feasible within the framework of administrative, academic, educational, information and cultural management tools.