astronomy

Journal of Political Economy

Journal of Political Economy is a astronomy topic covered in the lgStudy science library. This page brings together a partial reference excerpt, illustrations, worked examples, real-world applications and a short study plan, so you can understand Journal of Political Economy rather than just read about it. In short: The Journal of Political Economy is a monthly peer-reviewed academic journal published by the University of Chicago Press. Established by James Laurence Laughlin in 1892, it covers both theoretical and empirical economics.

Key takeaways

Journal of Political Economy belongs to astronomy; place it in that map before memorising details.
Learn the definition first, then one example that makes the definition concrete.
Connect Journal of Political Economy to a quantity you can measure, compute or draw — that is where exam questions come from.
Reproduce the core statement of Journal of Political Economy from memory before moving on to harder problems.

Reference excerpt

The Journal of Political Economy is a monthly peer-reviewed academic journal published by the University of Chicago Press. Established by James Laurence Laughlin in 1892, it covers both theoretical and empirical economics. In the past, the journal published quarterly from its introduction through 1905, ten issues per volume from 1906 through 1921, and bimonthly from 1922 through 2019. The editor-in-chief is Esteban Rossi-Hansberg (University of Chicago). It is considered one of the top five journals in economics.

JPE Micro and JPE Macro In 2023, University of Chicago Press announced the establishment of Journal of Political Economy Microeconomics (JPE Micro) and Journal of Political Economy Macroeconomics (JPE Macro), two new journals that are vertically integrated with the Journal of Political Economy.

Abstracting and indexing The journal is abstracted and indexed in EBSCO, ProQuest, EconLit, Research Papers in Economics, Current Contents/Social & Behavioral Sciences, and the Social Sciences Citation Index. According to the Journal Citation Reports, the journal has a 2020 impact factor of 9.103, ranking it 4/376 journals in the category "Economics". The journal is department-owned University of Chicago journal.

Notable papers Among the most influential papers that appeared in the Journal of Political Economy are:

"The Economics of Exhaustible Resources", by Harold Hotelling; Vol. 39, No. 2 (1931), pp. 137–175. JSTOR 1822328 ... stated Hotelling's rule, laid foundations to non-renewable resource economics. "The Economics of Slavery in the Ante Bellum South", by Alfred H. Conrad and John R. Meyer; Vol. 66, No. 2 (1958), pp. 95–130. JSTOR 1827270 ... first to apply econometric methods to a historic question, which triggered the development of Cliometrics. "The Pricing of Options and Corporate Liabilities", by Fischer Black and Myron Scholes; Vol. 81, No. 3 (1973), pp. 637–654. JSTOR 1831029 ... highly influential for introducing the Black–Scholes model for option pricing. "Are Government Bonds Net Wealth?", by Robert Barro; Vol. 82, No. 6 (1974), pp. 1095–1117. JSTOR 1830663 ... re-introduced the Ricardian equivalence to macroeconomics, pointing out flaws in Keynesian theory. "Rules Rather than Discretion: The Inconsistency of Optimal Plans", by Finn E. Kydland and Edward C. Prescott; Vol. 85, No. 3 (1977), pp. 473–492. JSTOR 1830193 ... influential new classical critique of Keynesian macroeconomic modelling. "Endogenous Technological Change", by Paul M. Romer; Vol. 98, No. 5, (1990) pp. S71–S102. JSTOR 2937632 ... the second of two papers in which Romer laid foundations to the endogenous growth theory. "Increasing Returns and Economic Geography", by Paul Krugman; Vol. 99, No. 3 (1991), pp. 483–499. JSTOR 2937739 ... revived the field of economic geography, introducing the core–periphery model.

References

External links Official website

Worked examples

Example 1 — a first encounter with Journal of Political Economy

Start with the simplest possible case. Write down what Journal of Political Economy claims or describes in one sentence, then invent the smallest concrete situation in which that sentence is true. In astronomy, the smallest case is usually a single object, a single equation or a single measurement. Check that every symbol or term in your sentence has a meaning in that case.

Example 2 — changing one variable

Take the situation from Example 1 and change exactly one quantity: double it, halve it, or set it to zero. Predict what should happen to Journal of Political Economy before you calculate. Comparing your prediction with the result is the fastest way to find out whether you understand the idea or only the words.

Example 3 — an exam-style question

Typical questions about Journal of Political Economy ask you to (a) state it precisely, (b) apply it to given data, and (c) explain a limitation. Practise writing all three answers in under five minutes; the third part is what separates a full-mark answer from an average one.

Applications of Journal of Political Economy

In research: Journal of Political Economy appears in astronomy research whenever the underlying quantities have to be modelled precisely. Papers usually cite it as a starting assumption and then explore where it breaks down.
In technology and industry: Engineering practice reuses Journal of Political Economy in design rules, simulations and safety margins. Knowing the idea lets you read a specification sheet and understand why the numbers look the way they do.
In the classroom: Journal of Political Economy is common in secondary-school and first-year university syllabi. It links to neighbouring topics 1892 in economic history, Bimonthly journals, Economics journals, so understanding it makes those chapters shorter.
In everyday life: Look for Journal of Political Economy outside the textbook — in sport, cooking, traffic, electronics or the sky above you. An example you found yourself is remembered far longer than one you were given.

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How to study Journal of Political Economy in 20 minutes

Read the reference excerpt below once, without taking notes.
Close the page and write down what Journal of Political Economy means in your own words.
Compare your version with the excerpt and mark what you missed.
Work through the three examples above with pen and paper.
Explain Journal of Political Economy out loud to somebody else — or to Teacher Smith in the lgStudy chat.

Frequently asked questions

What is Journal of Political Economy in simple terms?

Why does Journal of Political Economy matter?

Because it connects several astronomy ideas at once: it gives you a definition you can apply, a quantity you can calculate, and a way to check whether a result is plausible.

How should I study Journal of Political Economy?

Read the excerpt, restate it from memory, then work through the examples and applications listed on this page. The five-step study plan above takes about twenty minutes.

What does this page cover?

It gives you a compact reference excerpt plus original lgStudy explanations, examples, applications and study material on Journal of Political Economy.