economics
- 1The study of how resources are allocated, distributed, and consumed, including capital, investment, and the management of the factors of production.
Economics helped her understand why unemployment tends to rise during a recession.
His course in economics covered everything from inflation to international trade.
Note
A discipline that began at home: econom(y) plus -ics, from the Greek oikonomía, "the management of a household." Despite its plural look it is an uncountable noun that takes a singular verb, so you write "economics is," not "economics are." Its sardonic nickname is the dismal science, and The Economist in 2013 caught its uneasy standing neatly: too fluid to be a science, too rigorous to be an art.
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Origin
Formed from "economy" plus the suffix "-ics." "Economy" comes from Latin oeconomia, from Ancient Greek οἰκονομία (oikonomía), meaning "the management of a household."