Economics and Politics

Economics is a subject of study that has immense applicability in our world today. The rising scale of global interaction on an economic level that is indicated by the level of international trade, foreign investment and cooperation on commercial levels between nations and companies. The increasing complexity of the functions performed within the ambit of economics requires that a comprehensive understanding of the systems and paradigms that determine and dictate economic trends. While the domain of economics is ever evolving and has grown too vast to be studied cumulatively, a general understanding and knowledge of the logic and decision-making patterns that are undertaken by economic units as well as the theories that define these trends is certainly helpful in understanding the regulation and evolution of economic systems.

Economics and Politics

Economics has a considerable influence on all other aspects of a nation and one of the most important out of these is politics. The reason for the close association between politics and economics is obvious. As politics essentially engage with the management of a nation and economics is a vital part of that, they have a significant influence over each other. Economic decisions made by governments hinge upon the internal political scenario prevalent in the nation. On the other hand, politics takes into consideration the economic paradigms which need to be followed or imbibed in order to achieve the objectives of the government, which may range from social welfare to national security.

The undergraduate course in economics and politics provides students a view into both these subjects with a great deal of interspersing between them. The study of the role politics and economics play in each other’s domains in real time is substantiated by the interplay of methods, theories, and evidence that enable the scrutiny of all aspects relating to the subject. The course is usually 3-4 years long depending upon study abroad, part-time, work placement, internship etc. Here is a list of topics which would most likely be a part of the curriculum.