EGLISE METHODISTE UNIE-CÖTE D’IVOIRE

UNIVERSITE METHODISTE DE CÔTE D’IVOIRE

06 B.P. 2005 ABIDJAN 06 – TEL. :22.44.66.68 / FAX.: 22.48.77.45

E - m a i l : i n f o @ u m e c i . o r g .ciS i t e W e b : w w w . u m e c i . o r g . c i

UFR : SCIENCES ECONOMIQUES ET DE GESTION

LICENCE 3 ECONOMIE

ANGLAIS – SEMESTRE 1

Prof K. ADOU

ANNÉE UNIVERSITAIRE : 2023-2024

 2023-2024– SEMESTRE 1- UMECI- UFR SEG- LICENCE 3 ECONOMIE – ANGLAIS : POLITICAL ECONOMY - Prof. K. ADOU

1-Travaux Dirigés

Intitulé : ANGLAIS : POLITICAL ECONOMY

Année : 2023-2024
Niveau/Spécialité : LICENCE 3 ECONOMIE
Volume Horaire : 16 H TD

2- Enseignant

Prénom et NOM : Kouamé ADOU

Grade : Professeur Titulaire
Courriel : kouame.adou@sfr.fr
Téléphone : 01 02 53 94 93

3-Plan du cours

Introduction
I. Understanding Political Economy
II. History and Development of Political Economy
III. Political Economy in Academia
IV. Modern Applications of Political Economy
V. Frequently Asked Questions on Political Economy
Conclusion

4- Résumé du cours

Le domaine de l'économie politique est l'étude de la façon dont les théories

économiques telles que le capitalisme ou le communisme fonctionnent dans le monde
réel. Ceux qui étudient l'économie politique cherchent à comprendre comment l'histoire,
la culture et les coutumes ont un impact sur un système économique. L'économie
politique mondiale étudie comment les forces politiques façonnent les interactions
économiques mondiales. L'économie politique peut s'appuyer sur la sociologie,
l'économie et la science politique pour définir comment le gouvernement, un système
économique et la politique s'influencent mutuellement.

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5- Objectifs du cours

Ce cours destiné aux étudiants en économie a pour objectif général de les aider à se
familiariser avec le vocabulaire du monde économique en langue anglaise. De façon
spécifique, il leur permet d’atteindre 3 objectifs :
- Comprendre les notions et concepts du monde économique,
- enrichir le bagage lexical dans le domaine de l’économie,
- encourager la production orale à partir du vocabulaire appris pendant le cours.

6- Prérequis

Pour être accepté dans ce cours, l’étudiant doit avoir le niveau intermédiaire en anglais.
En outre, il doit avoir suivi avec succès les cours d’Anglais pendant les quatre premiers
semestres de la Licence.

7- Méthodologie

Ce cours fonctionne sous forme de travail dirigé. Il est basé sur la participation active
des étudiants. Il est accompagné de textes que chaque étudiant doit absolument
imprimer avant le début du cours. Avant chaque cours, les étudiants auront
préalablement étudiés le chapitre de la semaine et fait les exercices s’y rapportant.
Pendant le cours, l’enseignant prêtera une attention particulière à l’acquisition du
vocabulaire qui a trait au monde économique et sur la participation effective et la
production orale de chaque étudiant.

8- Lecture conseillée

✓ BOYLE, Michael J. and KENTON, Will. “Political Economy”, Feb. 25, 2021,
https://www.investopedia.com/terms/p/political-economy.asp#citation-9,
[May 5, 2022].

9- Mode d’évaluation

En fin de semestre, les étudiants seront évalués par un devoir prenant en compte tous
les aspects du cours. Des exercices aussi variés tels que la traduction d’un texte ou de
phrases, des exposés, des questions à choix multiples ou des textes à trous pourront être
proposés.

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UMECI - UFR : SCIENCES ECONOMIQUES ET DE GESTION

LICENCE 3 ECONOMIE

POLITICAL ECONOMY

Political economy is an interdisciplinary branch of the social sciences

that focuses on the interrelationships among individuals, governments,
and public policy.

Political economists study how economic theories such

as capitalism, socialism, and communism work in the real world. At its
root, any economic theory is a methodology that is adopted as a means
of directing the distribution of a finite amount of resources in a way that
is beneficial for the greatest number of individuals.

In a wider sense, political economy was once the common term used for
the field we now call economics. Adam Smith, John Stuart Mill, and
Jean-Jacques Rousseau all used the term to describe their theories.
The briefer term economy was substituted in the early 20th century with
the development of more rigorous statistical methods for analyzing
economic factors.

The term political economy is still widely used to describe any

government policy that has an economic impact.

I. Understanding Political Economy

Political economy is a branch of social science that studies the

relationship that forms between a nation's population and its government
when public policy is enacted. It is, therefore, the result of the interaction
between politics and the economy and is the basis of the social science
discipline.

As mentioned above, there are several notable types of political

economies:

• Socialism: This type of political economy promotes the idea that

the production and distribution of goods and wealth are maintained

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and regulated by society, rather than a particular group of people.

The rationale behind this is that whatever is produced by society is
done so because of those who participate, regardless of
status, wealth, or position. Socialism aims to bridge the gap
between rich and power, where one or more individuals don't have
the majority of power and wealth.
• Capitalism: This theory advocates profit as a motive for
advancement. Put simply, the idea behind capitalism is that private
individuals and other actors are driven by their own interests—they
control production and distribution, set prices, and create supply
and demand.
•
Communism: Individuals often confuse communism with
socialism, but there is a distinct difference between these two
theories. Communism was a theory developed by Karl Marx, who
felt that capitalism was limited and created a big divide between
rich and poor. He believed in shared resources, including property,
and that production and distribution should be overseen by the
government.

Those who research the political economy are called political

economists. Their study generally involves the examination of how
public policy, the political situation, and political institutions impact a
country's economic standing and future through a sociological, political,
and economic lens.

II. History and Development of Political Economy

The roots of political economy as we know it today go back to the 18th

century. Scholars during the period studied how wealth was distributed
and administered between people. Some of the earlier works that
examined this phenomenon included those by Adam Smith and John
Stuart Mill.

But the term is probably best ascribed to the French writer and
economist, Antoine de Montchrestien. He wrote a book called "Traité de
l'économie politique" in 1615, in which he examined the need for
production and wealth to be distributed on an entirely larger scale—not
in the household as Aristotle suggested. The book also analyzed how
economics and politics are interrelated.

Smith was a philosopher, economist, and writer who is commonly

referred to as the father of economics and of the political economy. He
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wrote about the function of a self-regulating free market in his first book,
which was called "The Theory of Moral Sentiments." 6 His most famous
work, "An Inquiry into the Nature and Causes of the Wealth of Nations"
(or "The Wealth of Nations") helped shape classical economic theory. It
was also used as the foundation for future economists.

Mill combined economics with philosophy. He believed in utilitarianism—

that actions that lead to people's goodwill are right and that those that
lead to suffering are wrong.8 In essence, he believed that economic
theory and philosophy were needed, along with social awareness in
politics in order to make better decisions for the good of the people.
Some of his work, including "Principles of Political Economy,"
"Utilitarianism," and A System of Logic" led him to become one of the
most important figures in politics and economics.

III. Political Economy in Academia

Political economy became an academic discipline of its own in recent

years. Many major institutions offer the study as part of their political
science, economics, and/or sociology departments.

Research by political economists is conducted in order to determine how

public policy influences behavior, productivity, and trade. Much of their
study helps them establish how money and power are distributed
between people and different groups. They may do this through the
study of specific fields such as law, bureaucratic politics, legislative
behavior, the intersection of government and business, and regulation.

The study may be approached in any of three ways:

• Interdisciplinary studies: The interdisciplinary approach draws

on sociology, economics, and political science to define how
government institutions, an economic system, and a political
environment affect and influence each other.11
• New political economy: This approach is studied as a set of
actions and beliefs, and seeks to make explicit assumptions that
lead to political debates about societal preferences. The new
political economy combines the ideals of classical political
economists and newer analytical advances in economics and
politics.
• International political economy: Also known as global political
economy, this approach analyzes the link between economics and

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international relations. It draws from many academic areas

including political science, economics, sociology, cultural studies,
and history. The international political economy is ultimately
concerned with how political forces like states, individual actors,
and institutions global economic interactions.

IV. Modern Applications of Political Economy

Modern applications of the political economy study the works of more

contemporary philosophers and economists, such as Karl Marx.

As mentioned above, Marx became disenchanted with capitalism as a

whole. He believed that individuals suffered under regimented social
classes, where one or more individuals controlled the greater proportion
of wealth. Under communist theories, this would be eradicated, allowing
everyone to live equally while the economy functions based on the
ability and needs of each participant. Under communist regimes,
resources are controlled and distributed by the government.

Most people confuse socialism and communism. It's true there are some
similarities—notably, that both stress bridging the gap between rich and
poor, and that society should relegate equilibrium among all citizens. But
there are inherent differences between the two. While resources in a
communist society are owned and controlled by the government,
individuals in a socialist society hold property. People can still purchase
goods and services under socialism, while those who live in a
communist society are provided with their basic necessities by the
government.

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V. Frequently Asked Questions on Political Economy

What does political economy mean?

The term political economy refers to a branch of social sciences that

focuses on relationships between individuals, governments, and public
policy. It is also used to describe the policies set by governments that
affect their nations' economies.

What is the primary concern of political economy?

The main concern of political economy is to determine the relationship

between governments and individuals, and how public policy affects
society. This is done through the study of sociology, politics, and
economics.

What are the characteristics of political economy?

Some of the characteristics or themes of a political economy include the

distribution of wealth, how goods and services are produced, who owns
property and other resources, who profits from production, supply and
demand, and how public policy and government interaction impact
society.

What are the types of political economy?

The types of a political economy include socialism (which states that any
production and wealth should be regulated and distributed by society),
capitalism (where private owners control a nation's industry and trade for
profit), and communism (the theory where all property is publicly-owned
and everyone works based on their own needs and strengths).

Who coined the term political economy?

Adam Smith is generally considered the father of economics and the

father of the political economy. But the term is generally ascribed to
French economist Antoine de Montchrestien, who wrote the book "Traité
de l'économie politique," which translates to the treaty of the political
economy.