economics; study of economic systems; political economy
Meanings
2 senses · 7 examplesnoun
economics; the study of production, distribution, and consumption of goods and services
A broad academic discipline encompassing theoretical, sectoral, and applied branches. Distinct from 'political economy' in strict usage, though often used interchangeably in general contexts.
She studies economics at Peking University.
Economics can be divided into two major fields: macroeconomics and microeconomics.
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He was awarded the Nobel Prize in Economic Sciences.
Behavioral economics is an emerging interdisciplinary subject.
noun
political economy (abbreviated form)
technicalSpecifically refers to the study of production relations and economic laws, often used in Marxist theoretical contexts or classical economic discourse. In modern academic contexts, 'economics' is the preferred term, while 'political economy' retains specific theoretical connotations.
Marxist political economy reveals the laws of motion of capitalist society.
Representative figures of classical political economy include Adam Smith and David Ricardo.
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This course mainly teaches the principles of political economy, especially the labor theory of value.