What is the international political economy?

The International Political Economy (IPE) is a subdiscipline in the field of political science that examines international problems and problems. This discipline began in the 1970s in response to 1973. The eventual division of the Bretton Woods system, the method of global monetary management, has convinced many academics to teach and study the economic foundations of the world's political structure. The international political economy is considered to be one approach that focuses on the study and understanding of international and global problems through economic and political analysis. The abroad made by participating countries, the oil embargo strengthened the idea that political economies existed in a larger group of global policy. Moreover, many political scientists have begun to recognize that there is an important connection between domestic policy and economics,as well as international policy and economy. These international economic issues have created the need for a global financial system.

August 15, 1971, US President Richard Nixon ended the gold reference to the US dollar, which previously supported the Bretton Woods monetary system. Actio President Nixonan led to the collapse of a fixed exchange rate system used to define the global monetary system.

After this global economic and political shift, scientists were looking for new ways to understand the decline of political and economic hegemony and the relationship between the United States and the rest of the world. The new international political economy offered a complex analytical approach to studying events that span political and economic issues. The international political economy that appeared was considered an unusual new approach to traditional focus on international studies, politics and diplomatic history.