Purpose: The main purpose of the article is to present the Integrated Model of Competitiveness of Economy (IMCE). The competitiveness of economy is defined here as the orientation of economy to develop, while the competitiveness improvement as a growth of productivity and standard of living in the economy. Methods: The author concentrates on the similarities of various concepts of competitiveness and integrates them into one theoretic model. It is stressed that the competitive advantage combined with strategic advantage can produce the global advantage of the economy. Results: Consequently a four-dimension model of competitiveness is built with: a) resources, b) investments, c) innovation, d) business environment as the main areas (determinants) of the competitiveness. The model has been tested using the Polish economy as an example. Conclusions: The Integrated Model of Competitiveness helps to discover the relatively stronger and weaker areas of the economy’s competitiveness. The innovation and business environment are the key factors standing behind the relatively weaker growth of productivity and standard of living in Poland in comparison with the other countries.