A process of major change in a country's economy. This can involve a large-scale transfer of resources from primary to industrial sector activity, as in many newly industrialized country (NICs). It can also involve a shift in methods of economic organization, from a mainly planned to a largely market-based economy, as in many previously planned economies of the former USSR and Central and Eastern Europe.

• social opportunity cost
• social overhead capital
• social safety net
• social security benefits
• social security contributions
• social services
• social welfare function
• society, co-operative
• soft budget constraint
• soft currency
• soft landing
• soft loan
• soil erosion
• sole proprietor
• sole trader
• Solow growth model
• Solow residual
• solution
• solvency
• sound money
• sources of capital
• sovereign debt
• sovereignty, consumer
• spare capacity
• special deposits