Political economy is a broad subject matter, which overlaps the realms of politics and economy. Simply defined, it is how the economy is affected by the politics of a nation or state and vise versa. It traces the consumption, distribution and production of goods and their relationship to government and law.
The study of political economy can be done with several different approaches. Although it focuses in studying political and economic relationships, it can also be applied throughout other disciplines. Political science deals with the political market. It involves the study of political education in relation to economic systems in the government. Political economy is also used in the study of history. It emphasizes the importance of learning from the past economic interests. It also shows how it has affected and benefited the present situation. Social sciences like sociology use the study of political economy to learn about the development of man’s socio-economic economy.
International political economy or IPE is the study of political economy in terms of the differences in trade and policies. It also focuses on different state policies concerning political income and society economy.
Here are some schools that offer the study of political economy:
- Center for the Study of Political Economy. Hampden-Sydney College established a center for deserving students who want to study Political Economy. The center gives out scholarships and special classes for undergraduate students. The course offers academic fellowships and mentoring to students by sponsoring public lectures with regard to the role of government in the society. The study also emphasizes the relationship of the government to its people in terms of economic, political and social foundations.
- Gus A. Stavros Center. The Florida State University under the College of Social Sciences offers a program in studying political economy. It is called SPEFE or Study of Political Economy and Free Enterprise. The program centers on researching and understanding the policies of free enterprise. It also emphasizes research regarding political economy. It looks at the importance of an efficient political infrastructure to a stable economic state.
- Center for the Study of Political Economy (CSPE). The University of Manchester created a center to provide students the opportunity to study political economy. CSPE brought together over 70 colleagues from the School’s Social Sciences, Environment and Development, Business and Law departments. This is to facilitate an excellent approach in the study of the field. The center also has a research facility that is used to discuss important issues regarding the changing economy.
- Program for the Study of Democracy, Institutions and Political Economy (DIPE). Duke University offers a program called DIPE. The program focuses on four fields. These are Democratization and Democracy, Institutions and Organizations, International Politics and Cultural Behavior. The program also funds conferences and seminars about published works from its own political science department. It also encourages all the members of the faculty to participate in all the program activities.
If you are interested in the relationships of politics and economy, knowing more about these different schools can help in choosing where to study political economy.