Features of the Functioning and Modeling of the Economic System in the Context of Modern Transformation

In the era of global transformation, economic systems are experiencing rapid and profound changes driven by digitalization, technological progress, globalization, and sustainability imperatives. These shifts require a reassessment of how economic systems function and how they can be effectively modeled. This study explores the key features of the functioning of modern economic systems, emphasizing the influence of digital technologies, institutional transformation, and environmental considerations. Special attention is given to methodological approaches to economic system modeling, including system dynamics, agent-based models, and hybrid frameworks. The findings demonstrate that traditional linear models are insufficient to capture the complexity of modern economies. Instead, adaptive and multidimensional models provide more accurate insights for forecasting and policymaking. The article concludes that incorporating sustainability indicators and digital innovations into modeling practices is essential for ensuring resilience, adaptability, and long-term development of economic systems.