In recent years, researchers in the political economy of communication have actively engaged in interdisciplinary explorations of the new phenomena and problems introduced by digital technology and information and communication technology within global society. While this trend has facilitated an empirical turn and the intergenerational inheritance of the field, it has also overshadowed the everyday life experiences, work processes and cultural practices of individuals as subjects, causing both “people” and “technology” ensnared in the framework of a computational world. Based on an examination and overview of the background, theoretical development, core viewpoints and research steps of institutional ethnography, this article provides a comprehensive and detailed analysis of the commonalities between the political economy of communication and institutional ethnography in terms of their research traditions, interests, subjects and objectives. On the one hand, these commonalities establish a solid academic foundation for their mutual construction. Combining their research approaches can re-establish diverse connections between micro-level individuals, meso-level organizations, and macro-level power structures, as well as the dynamic relationships between social structures and “meaning in action.” On the other hand, exploring the main pathways for the integration of the two fields, particularly through in-depth research on social issues that have recently garnered significant attention in academia, such as platform labor, digital nomads, and rural communication, can further advance the innovation and development of the political economy of communication. Such integration and its pathways offer new possibilities for transcending the simple combination of theory and method while giving rise to a series of novel and open academic practices.