After pointing out the importance and role of theoretical economics in contemporary higher education and in creation of a long-term stable and successful economic and general social development, the authors analyze in this paper the status of theoretical economics and representation of theoretical economics courses (Political economy, Economic Doctrines, Macroeconomics, Microeconomics...) in the Curricula of the Faculties of Economics and other Faculties in Bosnia and Herzegovina (BiH) (Law, Political Science). Thereby it is ascertained that Neo-Liberal School and its concepts still dominate in both, economic politics of transition, and in creation of Curricula within the Bologna System of Higher Education in BiH and its entities. However, the Neo-Liberal School has been undergoing a crisis for a long time, as it is not able to explain properly neither the global financial crisis, nor the transitional processes and crisis in BiH. Therefore, the knowledge of Keynesian, Marxist, and other schools of economic thought and learning, should be used more in creating the Curricula of general education courses. In analyzing the representation and role of courses of theoretical character in current high education of economists, lawyers and political scientists in BiH, the authors highlight the thesis that 'Political Economics' and other disciplines of theoretical economics have been repressed, while business and specialist disciplines, which study the skills and techniques of business management, are more and more present. The authors consider that this state of affairs is unacceptable and that it should be changed in direction of reaffirmation of 'Political Economics' and other general education disciplines from theoretical economics domain, since only these disciplines provide fundamental knowledge for creation of economic system, economic policy and achievement of a successful economic and general development of every socio-political community.