economics

ec-o-nom-ics · noun

imported

Definitions

noun

  1. 1.

    The branch of knowledge concerned with the production, consumption, and transfer of wealth.

  2. 2.

    The financial aspects or conditions of a particular activity, region, or group.

Phrases & expressions

  • •
    Supply and demand economics — The fundamental theory of how markets work.
  • •
    Home economics — The study of household management (somewhat dated).
  • •
    Behavioral economics — The study of psychological factors in economic decisions.
  • •
    Keynesian economics — Economic theories based on the work of John Maynard Keynes.

Related words

See also: economic, economist, economy, finance
Synonyms: economic science, political economy

Etymology

From Greek oikonomia meaning "household management," from oikos meaning "house" and nemein meaning "to manage." The modern sense developed in the 18th and 19th centuries as the study became a formal discipline.