Economic and Political Science Overview

Definition: The study of the production, distribution, and consumption of goods and services.
Branches:
- Microeconomics: Analyzes individual and business decisions.
- Macroeconomics: Focuses on national and global economic phenomena.
Key Concepts:
- Supply and Demand: Fundamental economic model of price determination.
- Market Structures: Types include perfect competition, monopoly, and oligopoly.
- Elasticity: Measures responsiveness of demand or supply to price changes.
- Fiscal Policy: Government spending and taxation decisions.
- Monetary Policy: Central bank actions that influence the money supply and interest rates.

Definition: The study of governance, political processes, and political behavior.
Branches:
- Comparative Politics: Examines different political systems and their outcomes.
- International Relations: Focuses on relationships between countries.
- Political Theory: Analyses ideas and philosophies underpinning political systems.
- Public Administration: Studies implementation of government policy.
Key Concepts:
- State and Government: The organization of political authority and its functions.
- Political Ideologies: Frameworks like liberalism, conservatism, socialism, and nationalism.
- Elections and Voting: Processes that determine political representation.
- Public Policy: Decisions made by government regarding public issues.
- Political Institutions: Structures such as legislatures, executives, and judiciaries.

Political Economy: Examines how political institutions affect economic policies and outcomes.
Regulation and Deregulation: Government interventions in the economy and their impacts.
Economic Development: The role of political stability and governance in economic growth.
Globalization: Interplay of economic and political factors in a globalized context.
Public Choice Theory: Analyzes how self-interest influences political decision-making.

Qualitative Methods: Interviews, case studies, and comparative analysis.
Quantitative Methods: Statistical analysis, econometrics, and modeling.
Mixed Methods: Combination of qualitative and quantitative approaches for comprehensive analysis.

Impact of Technology: How digital advancements influence political processes and economic models.
Global Economic Challenges: Issues like trade wars, economic sanctions, and financial crises.
Policy Responses to Inequality: Examination of economic policies in addressing social disparities.

Focus: Studies production, distribution, and consumption of goods and services.
Microeconomics: Analyzes decisions made by individuals and firms.
Macroeconomics: Looks at national and global economic trends and data.
Supply and Demand: Core model explaining price formation in markets based on consumer and producer interactions.
Market Structures: Includes various forms such as perfect competition (many buyers/sellers), monopoly (single seller), and oligopoly (few sellers).
Elasticity: Assesses how demand or supply changes in response to price fluctuations.
Fiscal Policy: Involves government strategies on taxation and spending to influence the economy.
Monetary Policy: Central bank strategies aimed at managing the money supply and interest rates to stabilize the economy.

Focus: Investigates governance, political behaviors, and systems.
Comparative Politics: Studies different political systems to understand their effectiveness and implications.
International Relations: Analyzes interactions and relationships between nations, including diplomacy and conflict.
Political Theory: Explores foundational ideas and philosophies that shape political systems and thought.
Public Administration: Looks at how government policies are enacted and administered.
State and Government: Investigates structures of political authority and their roles in society.
Political Ideologies: Includes frameworks like liberalism (freedom and equality), conservatism (tradition and order), socialism (economic equality), and nationalism (patriotism and sovereignty).
Elections and Voting: Examines the processes that determine political power and representation.
Public Policy: Studies governmental decisions designed to address societal issues.
Political Institutions: Reviews structures like legislatures, executives, and the judiciary that govern political processes.

Political Economy: Focuses on interaction between political institutions and economic policy effects.
Regulation and Deregulation: Analyzes the impact of government intervention in markets and overall economic health.
Economic Development: Emphasizes the relationship between governance, political stability, and growth.
Globalization: Refers to the integration of economic and political factors on a global scale.
Public Choice Theory: Investigates how self-interest and incentives shape political decision-making.

Qualitative Methods: Encompasses interviews, case studies, and comparative analysis for deep insights.
Quantitative Methods: Utilizes statistical tools, econometrics, and modeling for data-driven research.
Mixed Methods: Combines qualitative and quantitative techniques for a richer analysis of issues.

Impact of Technology: Explores how digital advancements are reshaping political engagement and economic practices.
Global Economic Challenges: Addresses contemporary issues such as trade disputes, sanctions, and financial instability.
Policy Responses to Inequality: Reviews how economic policies are formulated to tackle social and economic disparities.