Political Economy (Noun)
Meaning
The branch of social science that deals with the production and distribution and consumption of goods and services and their management.
Classification
Nouns denoting cognitive processes and contents.
Examples
- The study of political economy helps us understand how different economic systems work and how they are influenced by politics.
- She pursued a degree in political economy to gain a better understanding of how policy decisions affect the market.
- The professor's lecture on Adam Smith's Wealth of Nations provided valuable insight into the evolution of political economy.
- Understanding the relationship between governments and markets is crucial in the study of political economy.
- The undergraduate program in political economy prepares students to analyze the intersection of economics and politics in the global economy.