Political Economics

Political Economics Doctorate Degree

Feel Free to Ask Questions!

Tel : +8615850513534

E-mail : apply@acasc.cn

  • Application Deadline:2018/06/05
  • Tuition:¥0.00
  • Application Fee:¥800.00
  • Service Fee:¥0.00
School Information

Hunan Normal University is located in Changsha, the capital of Hunan Province, a city of beautiful scenery and outstanding intellectuals. Hunan Normal University has inherited the great tradition of the broad and profound Huxiang Culture and has culti

Find more information on the university website
How To Apply

Applying through ACASC generally takes a few minutes to complete. It takes 5 steps to complete the application.

1. Click “Apply Now” button at the top of the page.

2. Fill in online application form.

3. Upload required documents.

4. Pay the application fee and the ACASC service fee

5. Click “Submit” button.

Important notice: In order to apply, you need to create an account with ACASC.

Political economy is the study of production and trade and their relations with law, custom and government; and with the distribution of national income and wealth. As a discipline, political economy originated in moral philosophy, in the 18th century, to explore the administration of states' wealth, with "political" signifying the Greek word polity and "economy" signifying the Greek word "okonomie" (household management). The earliest works of political economy are usually attributed to the British scholars Adam Smith, Thomas Malthus, and David Ricardo, although they were preceded by the work of the French physiocrats, such as François Quesnay and Anne-Robert-Jacques Turgot .


In the late 19th century, the term "economics" gradually began to replace the term "political economy" with the rise of mathematical modelling coinciding with the publication of an influential textbook by Alfred Marshall in 1890. Earlier, William Stanley Jevons, a proponent of mathematical methods applied to the subject, advocated economics for brevity and with the hope of the term becoming "the recognised name of a science". Citation measurement metrics from Google Ngram Viewer indicate that use of the term "economics" began to overshadow "political economy" around roughly 1910, becoming the preferred term for the discipline by 1920. Today, the term "economics" usually refers to the narrow study of the economy absent other political and social considerations while the term "political economy" represents a distinct and competing approach.


Political economy, where it is not used as a synonym for economics, may refer to very different things. From an academic standpoint, the term may reference Marxian economics, applied public choice approaches emanating from the Chicago school and the Virginia school. In common parlance, "political economy" may simply refer to the advice given by economists to the government or public on general economic policy or on specific economic proposals developed by political scientists. A rapidly growing mainstream literature from the 1970s has expanded beyond the model of economic policy in which planners maximize utility of a representative individual toward examining how political forces affect the choice of economic policies, especially as to distributional conflicts and political institutions. It is available as a stand-alone area of study in certain colleges and universities.


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