What the election of Reagan is expected to mean for
* SALT II Forget SALT II -- unless a last-ditch, Carter-supported effort succeeds by January. Reagan wants to scrap it. The lame duck Senate is unlikely to give Carter the treaty as a farewell gift. Too many points of controversy remain.
* Supreme Court
One Supreme Court justice may retire by January. That would give Carter a shot at naming a justice, and would partially offsetting Reagan appointments expected during the next four years. Would Carter upstage his successor by nominating a woman?
Yen percent-a-year cuts over three years? Could be. But Reagan's advisers have hinted at a 10 percent cut the first year and a wait-and-see about the others. The House Ways and Means Committee does the real tax work. Liberal Democratic chairman Al Ullman has been defeated, and the House has a more conservative tinge. But it retains its Democratic majority. Wait for the new committee to take shape before counting your refund.
* Department of Energy
Reagan doesn't like most of it, but he's not likely to scrub it. So watch what he does to Carter's fiscal 1982 budget request for DOE. The big conservative gains in Congress may allow Reagan to shackle if not dismantle DOE agencies he deems counterproductive.
* Department of Education
* Federal hiring
Reagan plans a freeze on hiring. But keep an eye on US agencies involved in Reagan's pet programs and on his revision of Carter's budget. Remember, in California, Reagan says he reduced the rate of growthm in the size of the state's government. He didn't stop the growth altogether.
* Federal Reserve policy
Record high interest rates made handy fodder for Reagan's campaign cannons. He calls for a "sound monetary policy." But interest rates could rise even further until the financial markets are convinced that the independent-minded FEd will maintain a tough anti-inflation policy. and as board terms expire, Reagan is expected to appoint conservatives to fill such vacancies.
* Oil/gas price regulation
Carter beat Reagan to the trough on this one by providing for phased decontrol of oil and natural gas prices. About the most Reagan could do here would be to try to expedite decontrol. But he may be likely to try to undercut the windfall profits tax in an effort to prompt producers to find more gas and oil.
* Offshore drilling
Look for Reagan to encourage more of it, though much will depend on the state of offshore drilling technology, the likelihood of profitable finds, and the vociferousness of environmentalists and the fishing industry.
* Civil rights
Most civil rights action for the last decade has been in the courts. Watch Reagan selections for federal judgeships, especially giveb his preference for strict constructionists. During the campaign he talked of minority appointments made in California. But there are doubts about how far he'll go in making majority appointments to policymaking jobs.
* Equal Rights Amendment
Reagan will leave it to the states, which is about all he can do. But because of Reagan's opposition to it, the "bully pulpit" won't provide ERA as a helpful shove.
Look for the White House to study ways of moving responsibility -- and tax sources -- back to the states.
* Social Security
Don't expect Reagan to take a meat cleaver to social security. He may push for the inclusion of state and federal workers in the program to broaden its base. And he may try to remove the limits on what senior citizens can earn without jeopardizing their social security checks.
* Defense expenditures
Reagan also is likely to seek ways to pump more money into defense, (Related story, Page 7.)