On Political Economy and Economics as the Branches of Economic Knowledge

• Main Authors: Panchyshyn Stepan M., Hrabynska Iryna V.
• Format: Article
• Language: English
• Published: PH "INZHEK" 2018-06-01
• Series: Problemi Ekonomiki
• Subjects: economics; political economy; economic theory; terminology system; political institutions; social efficiency; scientific method; educational program
• Online Access: http://www.problecon.com/export_pdf/problems-of-economy-2018-2_0-pages-289_295.pdf

The article is dedicated to the methodological discourse on certain aspects of the improvement of the domestic economic terminology system and objective changes in the national economic science and education at the end of the 20th - beginning of the 21st century, which is a reflection of changes in both the system of economic knowledge and transformational changes in economic practice. There substantiated the necessity and relevance of using in the domestic economic terminology system the term “analitychna economika” as the one correspondent to the English term “Economics”, which reflects the analysis as a core method of investigation of economic reality and, at the same time, an organic combination of theoretical and applied economics. The theoretical and methodological approach of an American economist H. Varian to the analysis of the relationship between “Economic Theory” and “Economics” is further developed, which provided the basis to interpret economic theory as a method or tool of economics. It is concluded that political economy has become a leading direction in the development of modern economic science, a kind of interface between economics and political sciences, which emphasizes the problems of achieving social efficiency and explains the way political institutions and the economic system affect each other. There analyzed the experience of western universities in the programming of educational specializations within the field of “Economics”, which provides for the identification of a number of educational programs (Ecological Economics, International Economics, Business Economics, Economics of Development, Health Care Economics, etc.). The using of this experience will allow bringing the economic education in Ukraine closer to economic practice and promote its integration into the world educational and economic space.