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economics

economics

453 3.5
The study of how people make, buy, and use things and services
  • noun
  • /ɪˈkɒnəmɪks/
translation icon : economía
  • Economics is essential for understanding how goods and services are produced and consumed.
  • economics 101
  • professor of economics
  • economics at university

It is about real basic economics and job growth.

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Examples

  • As Tony Cronman once said, economics is the science of means.

  • An important framework within which economists approach the economics of higher education is through human capital.

    Academic text (2011)
  • You need to make sure that the unit economics pay for the debt.

  • This is what we call in economics a more than fair bet.

  • You got to think about the economics of this.

  • Our next guest shows us why economics is a deeply social science.

  • It's deeply tied to economics, to jobs, to prosperity.

  • It is about real basic economics and job growth.

  • It's a place where philosophy, policy and economics are coinciding.

  • My father taught economics.

Synonyms

political economy
vseconomics
  • Specialized
6 5.3

Study of how governments and policies affect making, sharing, and using things and services

is broader and covers resource management beyond government influence
economic science
vseconomics
1 3.7

The study of how people and countries make, share, and use goods and services

is the formal academic branch term that frames this study as a social science

Compounds

A school subject about running a home, like cooking, sewing, and managing money

supply-side economics
  • Specialized
3 7.2

An economic idea that growth comes from businesses making more goods and investing when governments cut taxes and remove rules

Part of a college or university that teaches and studies economics

voodoo economics
  • Literature
2 9.4

An idea critics use for unrealistic money and growth plans that lack proof

positive economics
  • Specialized
1 6.3

Part of economics that describes, explains, and predicts how the economy works without giving opinions

7.4

A part of economics that studies how a country's basic rules for government affect economic policy

A part of a college or university that teaches and studies economics

People who study and give advice about the economy and money

managerial economics
  • Specialized
6.0

The use of economic ideas to help managers make business decisions

normative economics
  • Specialized
8.0

Expressing opinions about how the economy should be and what governments should do

How Small

microeconomics
  • Specialized
1 6.8
economics
453 3.5
macroeconomics
  • Specialized
6 6.6

Surface Forms

economics singular
economics plural

Morphology

economics = economy (transparent) = econom + ics

The field name is transparently formed from 'economy' with the productive academic suffix '-ics' meaning 'the study of', so learners who know 'economy' can infer the meaning.

Etymology

The word economics comes from the Greek parts oikos ('house') and nomos ('management'), so it originally meant 'household management'. It is the same root as economy and economical, which helps to remember that economics is about managing resources, making, sharing, and using goods and services.