A traditional representation of aerodynamic characteristics based on the concept of aerodynamic derivatives becomes inadequate at high angles of attack due to significant dynamic effects generated by separated and vortical flow. The main difficulty in an application of aerodynamic derivatives at these conditions is linked with their strong dependence on frequency and amplitude of oscillations. To describe these dependencies the mathematical model for aerodynamic characteristics in the time domain should be dynamic and nonlinear. To capture frequency effects the lateral/directional aerodynamic characteristics are represented in the form of differential equations and applied for the open- and closed-loop dynamic analysis. It is demonstrated that the results of the open-loop stability analysis for the conventional aerodynamic derivatives based model and unsteady aerodynamic model at some angles of attack can differ significantly. Control law design issues with combination of aerodynamic and thrust vectoring control are also discussed considering linear and nonlinear problem formulation.