What is the difference and connection between political economy and macroeconomics?

I. There are 3 differences between political economy and macroeconomics:

1. The book of the two is different:

(1) An overview of political economy: the study of the economic activities, economic relations, and economic laws of a society such as production, capital, circulation, exchange, distribution, and consumption.

(2) Overview of Macroeconomics: a field of economics that analyzes the laws of economic functioning using aggregate statistical concepts such as national income, investment and consumption of the economy as a whole.

2. The founders of the two are different:

(1) The founders of political economy: William Fitting and Quesnay.

(2) The founder of macroeconomics: John Maynard Keynes.

3. The roles of the two are different:

1. The role of political economy: political economy, as a science that studies the laws governing the production and exchange of material means of subsistence, distribution, and consumption at all stages of the development of human society, provides the theoretical foundations for all other disciplines.

2. Role of Macroeconomics: Macroeconomics suggests the use of appropriate fiscal policy, monetary policy, exchange rate policy, and the establishment of an independent central bank in order to control and solve the problem of inflation. Macroeconomics first focuses on a country's economic growth, which refers to the growth of a country's production potential. The growth of a country's productive potential is the key factor in determining the rate of growth of its real wages and standard of living.

II. Linkage between Political Economy and Macroeconomics:

Political economy and macroeconomics are both important branches of economics. According to Adam Smith, it is the science of "the generation and distribution of national wealth", and the term macroeconomics is now commonly used internationally to replace political economy.

Baidu Encyclopedia - Political Economy (a discipline independent of politics and economics)

Baidu Encyclopedia - Macroeconomics (school of economics)