economics
ee-kuh-NO-mihks
Economics (noun) means the academic and social science studying how resources, wealth, goods, and money are produced, distributed, and consumed. Example: “She majored in economics before going into banking.”
noun
1
The academic and social science studying how resources, wealth, goods, and money are produced, distributed, and consumed.
"She majored in economics before going into banking."
"The economics of the project just didn't add up."
"My brother is studying economics at university and finds it fascinating."
How to use economics
Learner’s notesIn plain EnglishThe study of money, trade, and how goods and resources move through a society — or informally, "the financial side" of a situation.
Common pairings
study economics
the economics of
behavioural economics
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Etymology
Formed from "economic" plus the suffix "-s" used for fields of study, following the same pattern as "physics" or "politics."
Synonyms
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economic science
economic theory
dismal science
political economy
Rhymes for economics
See all rhymes for economics →Frequently asked questions
What does “economics” mean?
The word “economics” means the academic and social science studying how resources, wealth, goods, and money are produced, distributed, and consumed. In plain terms, the study of money, trade, and how goods and resources move through a society — or informally, "the financial side" of a situation.
How do you pronounce “economics”?
“Economics” is pronounced ee-kuh-NO-mihks (/ˌɛkəˈnɑmɪks/ in IPA).
How do you use “economics” in a sentence?
Here is “economics” used in a sentence: “She majored in economics before going into banking.”
What is another word for “economics”?
Words with a similar meaning to “economics” include dismal science and political economy.
What part of speech is “economics”?
“Economics” is a noun.
Is “economics” a common word?
“Economics” is a fairly common word in modern English, usually learned at around the B1 level.
What is the difference between microeconomics and macroeconomics?
Microeconomics studies individual pieces of the economy — households, firms, and single markets, and how they set prices and quantities. Macroeconomics studies the economy as a whole, looking at growth, inflation, unemployment, and national policy. Together the two branches cover economics from the ground up.
What is the difference between economics and finance?
Economics is the broad social science of how societies produce, distribute, and use resources. Finance is narrower — the practical management of money, investments, and risk by people, companies, and institutions. Finance draws heavily on economics but focuses on handling money rather than explaining whole economies.
Is economics a science?
It's classed as a social science: it uses data, theories, and models to explain human behavior around scarcity and choice, much as natural sciences study the physical world. Because it deals with unpredictable people and can't run controlled experiments easily, its conclusions are less exact than in fields like physics.
Why is economics important?
It explains how scarce resources get shared out, why prices rise and fall, and how jobs, wages, and living standards take shape. Understanding it helps individuals make smarter money decisions and helps governments design sensible policy on tax, spending, trade, and interest rates.
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