London, United Kingdom

International Political Economy

Master's
Language: EnglishStudies in English
Subject area: economy and administration
Qualification: MA
Kind of studies: full-time studies
Master of Arts (MA)
University website: www.kcl.ac.uk
Economy
An economy (from Greek οίκος – "household" and νέμoμαι – "manage") is an area of the production, distribution, or trade, and consumption of goods and services by different agents. Understood in its broadest sense, 'The economy is defined as a social domain that emphasizes the practices, discourses, and material expressions associated with the production, use, and management of resources'. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. However, monetary transactions only account for a small part of the economic domain.
International
International mostly means something (a company, language, or organization) involving more than a single country. The term international as a word means involvement of, interaction between or encompassing more than one nation, or generally beyond national boundaries. For example, international law, which is applied by more than one country and usually everywhere on Earth, and international language which is a language spoken by residents of more than one country.
Political Economy
Political economy is the study of production and trade and their relations with law, custom and government as well as with the distribution of national income and wealth. Political economy as a discipline originated in moral philosophy in the 18th century and sought to explore the administration of states' wealth, with "political" signifying the Greek word polity and "economy" signifying the Greek word "okonomie" or "household management". The earliest works of political economy are most often attributed to British scholars like Adam Smith, Thomas Malthus and David Ricardo, although the case is sometimes made that the still earlier works of the French physiocrats constitute the true beginnings of the discipline.
Political Economy
David Ricardo is without doubt the greatest representative of classical political economy. He carried his work begun by Smith to the farthest point possible without choosing one or the other of the roads which led out of the contradiction inherent in it.
Eric Roll, A History Of Economic Thought, Chapter IV, p. 176
Political Economy
As there are so many who talk prose without knowing it, or, again, who syllogize without having the least idea what a syllogism is, so economists have long been mathematicians without being aware of the fact.
William Stanley Jevons, The Theory of Political Economy (1871). Preface To The Second Edition, p. 14
Political Economy
Political economy has only become a science since it has been confined to the results of inductive investigation.
Jean-Baptiste Say, A Treatise On Political Economy (Fourth Edition) (1832), Introduction, p. xxvi
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