September 26, 1981

The Polish Parliament passed laws today to make factories and other enterprises more autonomous and to give workers mor e power in running them. The legislation, if put into effect, would move Poland away from the orthodox Soviet model of a tightly controlled, centrally planned economy, as liberal economists here have long advocated. Poland is adopting the more experimental systems of Hungary and Yugoslavia, which have a high degree of workers' participation in industry through elected workers' councils. The councils have considerable voice in decisions involving production, investment, profits and even wages.

With encouragement from the Reagan Administration, welfare officials in at least 10 states, including New York and New Jersey, are devising rules that will prod or require welfare recipients to take jobs. A law enacted recently by Congress, at the request of the Administration, gives the states much more latitude than they had before to impose such requirements, and many state officials say that they intend to take advantage of the new opportunity. Starting next Thursday, Oregon will require women on welfare to seek work when their children reach the age of 3, rather than 6, the age specified in the previous law. West Virginia is developing a program that would require some welfare recipients to ''work off'' their welfare grants by taking jobs that pay the minimum wage of $3.35 an hour.

Stock and bond prices fell sharply yesterday as investors expressed disappointment with President Reagan's latest economic proposals and concern that his Administration will not be able to bring down interest rates. On the New York Stock Exchange, the Dow Jones industrial average plunged 11.13 points, to 824.01, its lowest level since the recession in the spring of 1980, and the American Stock Exchange's key index suffered its second-largest decline on record. Prices fell quickly when the market opened, reflecting concern that President Reagan's proposals Thursday night will fail to keep the Federal budget deficit within bounds. The markets also reacted to a new forecast from Joseph Granville, a well-known investment adviser whose sometimes dramatic predictions have affected stock prices in the past. Predicts Big Drop Monday Mr. Granville said in an interview in Paris that stock prices would plunge in New York on Monday. In the credit markets, the return on long-term Government bonds rose to a record level, exceeding 15 percent, as prices, which move inversely to yields, plunged. Short-term interest rates rose, too. (Page 29.)

Mexico's governing party today chose Miguel de la Madrid Hurtado, a political moderate who serves as Planning and Budget Minister, as its candidate to succeed President Jose Lopez Portillo in December 1982. Although general elections will be held next year, the announcement was equivalent to the naming of Mexico's next leadersince the Institutional Revolutionary Party's nominee has won every presidential election for the past 52 years. Following tradition, the actual selection of Mr. de la Madrid, a 46-year-old lawyer who speaks good English and holds a master's degree in public administration from Harvard University, was made by the incumbent President, and was reportedly communicated privately to the party yesterday. Under the Mexican Constitution, a President cannot seek a second term.

As autumn chills the air, there is comfort in the outlook for home heating oil. Prices are expected to climb no more than 5 cents a gallon this winter, and supplies seem plentiful. This re latively modest price increase would stand in sharp contrastto last year's price jump of about 25 cents a gallon. Over the past two years, the price of heating oil has risen 44 cents.