Political Economy
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 (1694–1774) and Anne-Robert-Jacques Turgot (1727–1781).
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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Matching Political Economy Colleges
University of Washington-Bothell Campus
Four or more years; Public; $38,757 average out-state tuition; $10,927 average in-state tuition |
SUNY College at Old Westbury
Four or more years; Public; $16,980 average out-state tuition; $7,070 average in-state tuition |
Georgetown University
Four or more years; Private not for profit; $59,784 average out-state tuition; $59,784 average in-state tuition |
Tulane University of Louisiana
Four or more years; Private not for profit; $56,684 average out-state tuition; $56,684 average in-state tuition |
University of Southern California
Four or more years; Private not for profit; $60,446 average out-state tuition; $60,446 average in-state tuition |
University of Puget Sound
Four or more years; Private not for profit; $55,390 average out-state tuition; $55,390 average in-state tuition |
Rhodes College
Four or more years; Private not for profit; $50,600 average out-state tuition; $50,600 average in-state tuition |
Scholarships for Political Economy Majors
Ohio LSC Legislative FellowshipOhio Legislative Service Commission |
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award $42,000 |
deadline Varies |
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DescriptionThe Ohio LSC Legislative Fellowship is available to college seniors who wish to gain practical experience in the legislative process. Duties may include handling constituent inquiries, writing (newsletter articles, press releases, letters, speeches, etc.), and general administrative duties. View Scholarship Details |
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Scholarship and Entrepreneurship for Economic Development (SEED) ScholarshipSaint Francis University |
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award Up to $22,500 |
deadline March 01, 2026 |
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DescriptionThe Scholarship and Entrepreneurship for Economic Development (SEED) Scholarship is available to entering freshman and transfer students at Saint Francis University who are studying a business-related major. To be considered for this award, you must have a minimum GPA of 3.0 combined with a minimum 1100 SAT score (Math and Critical Reading). ... View Scholarship Details |
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Herbert Scoville Jr. Peace FellowshipScoville Peace Fellowship Program |
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award Up to $27,000 |
deadline October 06, 2025 |
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DescriptionThe Herbert Scoville Jr. Peace Fellowship is available to graduate students with a strong interest in peace and security issues. In this six - to nine - month program, you will be placed with one of 26 non - profit, public interest organizations to address issues such as arms control, conflict resolution, defense budgets, economic conversion,... View Scholarship Details |
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Travers Undergraduate Scholarship in Ethics and PoliticsUniversity of California, Berkeley |
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award $12,000 |
deadline Varies |
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DescriptionThe Travers Undergraduate Scholarship in Ethics and Politics is available to political science majors at University of California, Berkeley. To be considered for this award, you must have at least one year of studies left. Selection is based on an 800-word maximum essay that discusses the applicant's interest in and plans for public service or... View Scholarship Details |
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United States Senate Youth ProgramWilliam Randolph Hearst Foundation |
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award $10,000 |
deadline October 27, 2025 |
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DescriptionThe United States Senate Youth Program is open to outstanding high school juniors and seniors who are interested in pursuing careers in public service. Recipients of this award will serve as delegates to Washington Week in Washington D.C in March. During Washington Week, the student delegates meet and learn from the highest level elected and... View Scholarship Details |
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Alfred and Frances Escherich Endowed ScholarshipUniversity of California-Los Angeles (UCLA) |
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award $5,000 |
deadline Varies |
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DescriptionThe Alfred and Frances Escherich Endowed Scholarship is available to undergraduate students at the University of California-Los Angeles who are studying business economics. This is a renewable award. View Scholarship Details |
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Liz Colantuono and Mark Sanz ScholarshipUNCF, Inc |
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award Up to $4,400 |
deadline September 22, 2025 |
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DescriptionThe Liz Colantuono and Mark Sanz Scholarship is available to high school seniors and undergraduate students who are studying, or have interest in, Accounting, Education, Engineering, Journalism, Mathematics, Science, or Technology. You must have a minimum GPA of 2.5, be a U.S. citizen/national or permanent resident, and demonstrate financial... View Scholarship Details |
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Alanson H. Kleinsorge Political Science ScholarshipUniversity of Oregon |
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award $4,000 |
deadline April 01, 2026 |
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DescriptionThe Alanson H. Kleinsorge Political Science Scholarship is available to junior and senior-level undergraduate students at the University of Oregon who are majoring in political science and are eligible for financial aid. This scholarship is to support individuals with weak academic backgrounds who have begun to show promise that they will... View Scholarship Details |
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Walter R. Jones Memorial ScholarshipCollege of DuPage |
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award $2,000 |
deadline November 01, 2025 |
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DescriptionThe Walter R. Jones Memorial Scholarship is available to students at the College of DuPage. You must be studying behavioral sciences and have a minimum 2.5 GPA to be eligible for this award. View Scholarship Details |
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Ronald J. Starkweather Memorial ScholarshipMonroe Community College |
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award $1,500 |
deadline October 31, 2025 |
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DescriptionThe Ronald J. Starkweather Memorial Scholarship is available to students graduating from Monroe Community College. You must have a minimum GPA of 3.5, be a political science major (or a substantial academic background in political science), and have a demonstrated commitment to government and politics to be eligible for this award. View Scholarship Details |
Political Economy Related Majors
- Political Science and Government
- Sociology
- Economics
- Criminology
- International Relations and National Security Studies
- Anthropology
- Social Sciences
- International Relations and Affairs
- Archeology
- American Government and Politics (United States)
- Geography
- Development Economics and International Development
- Cultural Anthropology
- International Economics
- Urban Studies/Affairs
- Physical and Biological Anthropology
- Applied Economics
- Econometrics and Quantitative Economics
- Medical Anthropology
- Sociology and Anthropology