Module 1: Political Science And Economic Science

Module 1 Political Science And Economic Science

Define the concept of economics in the aspects of social institution and social science.

Answer the question: What are the factors that create the economic problem?

Describe the market forces.

Write a brief answer to the question: a. What are the differences between democratic and autocratic governments? Provide an example of each today.

Create a table in which you can compare and contrast the characteristics of a presidential government with those of a parliamentary government. (Add as many rows as necessary)

• Presidential government
• Parliamentary government

List the functions of the executive, judicial and legislative branches.

Be sure to explain why it is important for the executive, judicial and legislative branches to be independent of each other. Study the Lecture Content and Readings and Multimedia for this module. Download the document support activities. Use a word processor, such as Word, to complete the Assignment.

Include the bibliographic references consulted, if necessary. Upload the document using the attached file button of the task. Be sure to submit your assignment before the deadline. Visit, within the course, the area of "Start your Course Here >> Information Resources >> Guide for the preparation of a research paper" to know the rules of the APA manual and evaluation rubric that will be used for this task. If you are new to Canvas, follow these directions for submitting your assignments and reviewing the academic expectations. To review your grades and comments, follow the instructions provided.

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Paper For Above instruction

The disciplines of political science and economics are integrally linked in understanding how societies organize themselves to manage resources, authority, and power. Economics, as a social science, critically examines how individuals, groups, and governments make decisions regarding resource allocation, production, and distribution. When viewed as a social institution, economics influences social behaviors, norms, and policies that shape societal development. It explores fundamental concepts such as scarcity, demand and supply, and opportunity cost, which are central to understanding economic problems (Mankiw, 2020).

Economic problems primarily stem from scarcity—a fundamental fact that resources are limited while human wants are unlimited. Factors contributing to the economic problem include finite resources, unlimited human desires, and the choices that individuals and societies must make to allocate these scarce resources efficiently (Samuelson & Nordhaus, 2010). These decisions are influenced by a country’s technological capabilities, level of development, policy environments, and cultural factors.

Market forces—namely supply and demand—play crucial roles in determining prices and quantities in a free economy. Supply refers to the quantity of goods and services producers are willing to supply at various prices, while demand signifies consumers' willingness to purchase goods and services at different price levels. The interaction of these forces ensures the market reaches an equilibrium point where the quantity supplied equals the quantity demanded (Krugman & Wells, 2018). Market forces are essential for resource allocation efficiency, signaling producers and consumers to adjust their behavior accordingly.

Regarding governance systems, democratic governments are characterized by free elections, political pluralism, and accountability to citizens. An example today is the United States. Conversely, autocratic governments concentrate power in a single authority or a small group, often lacking political freedoms. An example today is North Korea.

Comparison of Presidential and Parliamentary Governments

Functions of Government Branches

It is vital for these branches to operate independently to maintain a system of checks and balances. Independence ensures that no single branch can dominate the government, which preserves democratic principles, prevents abuse of power, and protects individual liberties. The judiciary acts as a guardian of the constitution, the legislature represents citizens’ interests, and the executive enforces laws while being accountable to elected representatives (Madison, 1787).

In conclusion, studying the interaction and independence of governmental branches, as well as core economic principles, provides a solid foundation for understanding political and economic systems. Such knowledge is essential for active and informed citizenship and plays a critical role in fostering democratic governance and economic stability.

References

• Mankiw, N. G. (2020). Principles of Economics (9th ed.). Cengage Learning.
• Samuelson, P. A., & Nordhaus, W. D. (2010). Economics (19th ed.). McGraw-Hill Education.
• Krugman, P., & Wells, R. (2018). Economics (5th ed.). Worth Publishers.
• Madison, J. (1787). The Federalist Papers: No. 51.
• Grigsby, J. (2017). An Introduction to Political Science. Routledge.
• O’Neill, M. (2014). Comparative Politics Today: A World View. Cengage Learning.
• Lijphart, A. (2012). Patterns of Democracy: Government Forms and Performance in Thirty-Six Countries. Yale University Press.
• Dye, T. R. (2017). Understanding Public Policy. Pearson.
• Fukuyama, F. (2014). Political Order and Political Decay. Farrar, Straus and Giroux.
• Riker, W. H. (1986). The Art of Political Manipulation. Yale University Press.