To put it simply, Political Economics can be defined as the study of how politics impacts a country’s economy and vice versa. As an interdisciplinary specialisation and amongst the lesser-known branches of social science, Political Economics explores the implications of politics in shaping a country’s economic stature as well as how the economic conditions of a country are a product of its political scenario. If you are interested in studying political science in an economical context, this field is the best one for you. Read this blog to know more about what political economy is, top courses and degree offered, universities as well as career scope you can avail.
This Blog Includes:
What is Political Economics?
Political Economics encompasses a detailed study of the correlations between individuals, governments and public policy. It elaborates upon the question of “How the economic theories of communism and capitalism are applicable in the real world?” The importance of political economics lies in unravelling the impact of customs, culture and history on a country’s economy. While it can be studied in terms of a nation’s economy, global political economy elucidates upon the larger impact of the international economy and politics.
What do you study in Political Economics?
Opting for a political economics degree, you will get to learn about the varied types of governments around the world as well as some of the key concepts in Political Science such as power, order, justice, conflict, legitimacy, obligation, sovereignty and decision making. Along with this, you will also study statistics in terms of economical analysis and gain various numeracy skills that are involved in the same. The programs offered in this specialisations also the analysis of policy formation and economic decisions at a global level.
There are numerous degree programs available in Political Economics at the undergraduate and postgraduate level. To help you further in your research, we have enlisted some of the top bachelor’s and master’s degree programs in this specialisation:
|BSc (Hons) Eco. and Politics||BA Political Economics||BA Political Science and International Relations||BA Political Science|
|Bachelors in International Program in Politics and Eco.||BA (Hons) International Relations and Political Eco.||BSocSc in Politics and International Relations||BA Hons Politics and Eco.|
|BA Political Economy||BSc International Political Eco.||BA Politics with Business Management||BA Hons Language and/ with Global Politics and International Experience|
|MA in Social Policy||MA/ PGDip in International Political Economy||MA in International Political Economy|
|MSc International Political Economy||MSc Political and International Relations Management||MSc Environment Development and Politics|
|MA/MSc in International Relations||–||–|
Since its an emerging field of study and an interdisciplinary specialisation, finding the right university to study a degree in Political Economics is a cumbersome task. Here are the top universities you must consider for pursuing a course in this field.
- University of Essex
- University of Bristol
- University of Birmingham
- University of East Anglia
- University of Leeds
- University of Aberdeen
- University of Otago
- The University of Auckland
- University of Canterbury
- The University of Waikato
Jobs and Scope
As we are familiar with programs in political economics, let’s take a look at the career options that will be available to you after completing your studies in the field. This specialisation offers immense scope for a career in research and you can also find lucrative career opportunities in the public sector especially in the government sector. With the intricate knowledge of political economy as well as research skills and statistical analysis, many promising jobs await you at a global level. The major employment sectors for graduates in Political Economics include Education, Analysis, Consulting, Research, Administration, Policy, etc. Here are the popular jobs you can explore in this field:
- Policy Analyst
- International Trade Specialist
- Economic Forecaster
- Political Scientist
- Research Associate
- Non-profit Administrator
Thus, we hope that this blog cleared your doubts regarding the emerging specialisation of Political Economics as well as the courses and career opportunities in this field. Planning to study a degree in Economics? Our Leverage Edu experts are here to guide you in exploring the best course and university combinations and finding the right one that suits your interests and preferences! Sign up for a free session with us today!