Economics

A branch of science that studies production relations or the specific aspects of production relations in a given sphere of social production and exchange.
As a field of human knowledge, economics entails (1) the study of the objective laws governing the economic structure of society within the framework of the socioeconomic formations that regularly follow and replace one another, (2) the theoretical analysis of the processes and phenomena in the various spheres and branches of the national economy, and (3) the elaboration of practical recommendations with respect to the production and distribution of the necessities of life. Economics is one of the social sciences. The economic sciences are the product of long-term historical development. The establishment of a system of economic knowledge was directly tied to the advent of political economy as a science.
Works by classical bourgeois political economists laid the scientific foundation for the development of the economic sciences; such works investigated many important socioeconomic processes in the capitalist economies. The consolidation of the capitalist mode of production, the increasingly antagonistic opposition between hired labor and capital, and the transformation of the bourgeoisie from a progressive into a reactionary class contributed to the emergence of vulgar bourgeois political economy, which supplanted the analysis of the internal laws of the capitalist economic system with the description and systematization of externally perceived economic processes and phenomena.
The possibility of creating a genuinely scientific system of economic knowledge arose with the advent of Marxist economic doctrine, which incorporated the highest achievements of previous economic thought and creatively reworked them in accordance with materialist historical principles. F. Engels and V. I. Lenin made enormous contributions to K. Marx’ economic theory. Marxist-Leninist economic theory was subsequently developed and concretized in the theoretical activity of the CPSU and of the fraternal Marxist-Leninist parties as well as in scholarly works by Soviet and foreign Marxist economists.
The Marxist system of classification differentiates between basic and applied economic sciences. The task of the basic sciences is to study objective economic laws and theoretically justify their effective application. The basic sciences include political economy, history of the national economy, history of economic thought, national economic planning, theory of economic management, statistics, accounting, and the analysis of economic activity. The applied sciences utilize the results of basic studies to solve specific practical problems. The various types of applied economic sciences are differentiated by function (finances and credit, money circulation, pricing, demography, labor economics, and material and technical supply), region or geographic area (economics of individual countries), and branch (for example, industrial, agricultural, construction, transport, or communications economics).
Political economy plays the principal role in the system of economic sciences, serving as the theoretical and methodological foundation of the entire complex formed by these sciences. Increased emphasis on the role of mathematics in economic research distinguishes the present stage of development of the economic sciences. In particular, the modeling of economic processes is being intensively developed. The socialist countries make practical use of the theses, conclusions, and recommendations of the economic sciences in the drafting and implementation of economic policy.
===REFERENCES===
Marx, K. K kritike politicheskoi ekonomii: Predislovie. K. Marx and F. Engels, Soch., 2nd ed., vol. 13.Lenin, V. I. “Tri istochnika i tri sostavnykh chasti marksizma.” Poln. sobr. soch., 5th ed., vol. 23.Lenin, V. I. “Karl Marks.” lbid., vol. 26.Lenin, V. I. “Ekonomika i politika v epokhu diktatury proletariata.” Ibid., vol. 39.
Materialy XXV s”ezda KPSS. Moscow, 1977.
Sistema ekonomicheskikh nauk. Editor in chief, K. V. Ostrovitianov. Moscow, 1968.Eremin, A. M. O sisteme ekonomicheskikh nauk. Moscow, 1968.Abalkin, L. I. Politicheskaia ekonomiia i ekonomicheskaia politika. Moscow, 1970.Khachaturov, T. S. Sovetskaia ekonomika na sovremennom etape. Moscow, 1975.L. I. ABALKIN and A. A. KHANDRUEV
Category:Economics
Category:Social Science