Energy　and　water　are　rapidly　consumed　as　the　most　basic　strategic　resources　of　various　nations.　It　is　of　vital　importance　to　systematically　explore　the　environmental　and　economic　impacts　of　energy-water　co-management　policies.　This　study　is　to　develop　a　multiperspective-driven　factorial　metabolic　network　analysis　framework　(MPDF)　to　(a)　investigate　the　direct/indirect/total　resource　consumption　response　mechanisms　induced　by　changes　in　production　and　consumption;　(b)　explore　the　factor　interactions　of　different　policies　in　diverse　energy　and　water　metabolic　networks　by　initiating　factorial　analysis;　(c)　quantify　the　economic　effects　of　co　management　policies　by　proposing　multiple　vulnerability　indicators.　A　typical　energy-dependent　region,　Shanxi　Province,　China　was　selected　as　a　case　study.　The　results　indicated　that　the　production-and　consumption　oriented　policies　have　various　guidelines　for　reducing　direct　and　indirect　energy-water　consumption.　Significant　interactions　in　simulation　results　suggest　synergistic　effects　across　sectors.　Considering　that　Shanxi＇s　energy　water　nexus　economic　vulnerability　is　as　high　as　2.22%,　it　is　recommended　to　prioritize　the　allocation　of　resources　to　sectors　with　significant　factor　effects　to　avoid　economic　losses.　Implementing　corresponding　resource　conservation　policies　for　light　industry,　machinery　manufacturing,　construction　can　reduce　water　consumption　by　18.8%.　The　findings　are　expected　to　provide　a　solid　scientific　basis　for　formulating　co-management　strategies　to　alleviate　resource　scarcities.