An artist accepts party runs microstate (7)
I believe the answer is:
andorra
'microstate' is the definition.
(I've seen this before)
'an artist accepts party runs' is the wordplay.
'artist' becomes 'RA' (Royal Academician, member of Royal Academy of Arts).
'accepts' means one lot of letters goes inside another.
'party' becomes 'do' (do is a kind of party).
'runs' becomes 'r' (cricket abbreviation).
'an'+'ra'='anra'
'do'+'r'='dor'
'anra' placed around 'dor' is 'ANDORRA'.
(Other definitions for andorra that I've seen before include "Small republic between Spain and France" , "Pyrenean country" , "Self-governing principality in Pyrenees" , "Pyrenean principality" , "Small European country" .)