Political Economy

Political Economy is an interdisciplinary field that studies the intricate and reciprocal relationship between political processes and economic systems. It moves beyond purely economic models to analyze how political institutions, government actions, and power dynamics influence economic outcomes like wealth distribution, regulation, and international trade. Conversely, it also examines how economic forces, market conditions, and the interests of different economic groups shape political structures, policy choices, and societal ideologies. By bridging economics and political science, this area seeks to provide a more complete understanding of why specific economic policies are enacted and what their real-world consequences are for society.

1. Introduction to Political Economy
   1. Defining Political Economy
      1. The Intersection of Politics and Economics
         1. Political Institutions and Economic Outcomes
         2. Economic Influences on Political Decisions
         3. Feedback Loops Between Politics and Economics
      2. Scope and Boundaries
         1. Interdisciplinary Nature
         2. Relationship to Economics
         3. Relationship to Political Science
         4. Relationship to Sociology
      3. Methodological Approaches
         1. Qualitative Methods
         2. Quantitative Methods
         3. Comparative Analysis
         4. Case Study Research
         5. Historical Analysis
      4. Positive vs. Normative Analysis
         1. Descriptive Approaches
         2. Prescriptive Approaches
         3. Value Judgments in Analysis
         4. Objectivity and Bias
   2. Historical Development of Political Economy
      1. Pre-Classical Thought
         1. Mercantilism
            1. Core Principles
            2. State Role in Trade
            3. Wealth Accumulation Strategies
            4. Critiques and Limitations
         2. Physiocracy
            1. Natural Order Concept
            2. Agricultural Foundation
            3. Laissez-Faire Origins
      2. Classical Foundations
         1. The Scottish Enlightenment
         2. Emergence of Systematic Analysis
         3. Influence on Modern Thought
      3. Evolution of the Discipline
         1. Separation of Economics and Political Science
         2. Revival of Political Economy
         3. Contemporary Developments
   3. Core Concepts and Building Blocks
      1. The State
         1. Definition and Characteristics
         2. Functions of the State
         3. Types of State Systems
         4. State Capacity
      2. Markets
         1. Market Mechanisms
         2. Market Structures
         3. Market Failures
         4. Market Regulation
      3. Society and Social Structure
         1. Class Systems
         2. Interest Groups
         3. Civil Society
         4. Social Capital
      4. Power and Authority
         1. Economic Power
         2. Political Power
         3. Soft Power
         4. Power Relations
      5. Institutions
         1. Formal Institutions
         2. Informal Institutions
         3. Institutional Design
         4. Institutional Change
         5. Path Dependence
      6. Property Rights
         1. Types of Property Rights
         2. Enforcement Mechanisms
         3. Economic Significance
         4. Evolution of Property Systems
      7. Ideology and Ideas
         1. Role in Policy Formation
         2. Competing Frameworks
         3. Ideological Change
         4. Ideas and Interests