Political Economy
Political economy is a field of study that primarily aims to understand how politics affect economic outcomes. The theory underlying the study of political economy is based on the idea or belief that economics is inseparable from politics and those political decisions and events can affect economic choices. The idea on political and economic interaction is not new, however, it was until the 20th century that the field gained some degree of interest from economic scholars and economists. And today, the ‘new political economy’ is used to refer to different approaches to studying the economy and politics and their relations, which may include combination of economics with other fields of study.
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