Economy is an important target for power system operation.The power system is composed of four sections，generation，transmission，distribution and consumption，each with significant impact on the economical operation of the system.Therefore，the integration of generation，transmission，distribution and consumption should be carried out based on the physical actualities towards the target of economy.First，specific objectives for power plants，power grids and the demand-side are separately set.Then，the integrated economical operation model is formulated.On this basis，the actual managing mode of "unified control，hierarchical management" in China's power system is considered.And a hierarchical economical operation model is further proposed along with techniques for equivalence of boundary node，network topology and price signal.Finally，the corresponding idea in China Southern Power Grid's on economical operation analysis of integrated power systems is treated.