Studies & Degrees in Political Economy
Political Economy Study Programs
Political economy studies the relationship between politics and economics: how governments, laws and interest groups shape markets, and how economic forces shape political decisions. The University of Washington describes it as applying economic theory to non-market behaviour and examining the interplay between governmental and economic institutions. Typical questions are why countries choose different tax, trade or welfare policies, who gains and who loses from them, and how international institutions influence national economies.
Students take courses from both parent disciplines. On the economics side that means microeconomics, macroeconomics and statistics; on the political side, comparative politics, public policy and political theory. Programmes train both quantitative skills (working with data) and qualitative ones (analysing institutions and arguments).
Qualifications and levels
- Bachelor's degree. Some universities offer political economy as a degree of its own. King's College London teaches a three-year Political Economy programme with optional study abroad; depending on the modules chosen, students graduate with a BA or a BSc. Its department covers economics, political science, public policy and political theory.
- Option within another degree. Elsewhere the subject is a track inside political science or economics. At the University of Washington the Political Economy Option is not an official major or minor: students complete the 50 credits of the Political Science major and 45 credits for the option, part of which may overlap.
- Master's degree. The Universität Kassel offers the MA Global Political Economy and Development: 4 semesters, taught in English, with a two-month internship that can be done at NGOs, international organisations or research centres. Its curriculum covers both mainstream and critical perspectives.
- Doctorate. Doctoral students usually enrol in an economics, political science or public policy programme and specialise through their thesis. Harvard Kennedy School, for instance, stopped admitting students to its PhD in Political Economy and Government as of autumn 2022 and directs applicants to its PhD in Public Policy or to the economics and government programmes.
- Spain. Political economy is mostly taught as a subject within economics, law and political science degrees. Official degrees have a fixed structure: a bachelor's degree (grado) of 240 ECTS credits, master's degrees of 60, 90 or 120 ECTS credits, and the doctorate.
Where to study political economy
SpainExchange lists 24 active schools for political economy. Eight are in the United States and three in Germany; Spain and the United Kingdom have two each, and Canada, the Czech Republic, South Korea, Austria, Estonia, Italy, Russia and China one each. Examples in the United States are the University of Washington, Harvard University, The University of California at Berkeley and Pitzer College. In Europe the list includes King's College London, the Universität Kassel and the Universität Duisburg-Essen in Germany, the University of Graz, Tallinn University of Technology and the University of Ferrara. The two schools in Spain are the Universidad de Castilla-La Mancha and the Escola de l'IGOP of the Universitat Autònoma de Barcelona. The list also includes McGill University in Montreal and the KDI School of Public Policy and Management in South Korea.
The language of instruction depends on the school. Full degrees in the United States, the United Kingdom and Canada are taught in English, and so is the master's in Kassel. Some entries are short programmes rather than degrees, for example summer universities and study abroad semesters, so check what each school offers.
Careers
Graduates work as policy analysts and economists in ministries, central banks, regulators and international organisations, in consultancy and research institutes, in journalism, and in NGOs and trade unions. A master's degree is often expected for analyst posts. The US Bureau of Labor Statistics notes that economists typically need at least a master's degree, and that political scientists typically need a master's in political science, public administration or a related field.
The same source gives a sense of scale in the United States: economists held about 18,600 jobs in 2025, with employment projected to grow 5 percent from 2025 to 2035. Political scientists held about 6,100 jobs, with a projected decline of 2 percent over the same period.
Frequently asked questions
What is the difference between political economy and economics?
Economics concentrates on markets and economic behaviour. Political economy adds the political side: institutions, power and public policy, and how they interact with the economy.
Is political economy a BA or a BSc?
It can be either. At King's College London, students of the Political Economy programme graduate with a BA or a BSc depending on the modules they choose.
How long does a degree in political economy take?
The bachelor's programme at King's College London takes three years. The master's in Global Political Economy and Development at the Universität Kassel takes 4 semesters. In Spain, an official bachelor's degree has 240 ECTS credits.
Do I need mathematics?
Some. Programmes include economics and statistics courses; at the University of Washington, for example, the option's courses include introductory microeconomics and macroeconomics.