economics
noun
uk/ˌiːkəˈnɒmɪks/ us [ U ] ECONOMICS
the study of the way in which economies work, for example, the way in which they make money and produce and distribute goods and services:
One of the laws of economics is that today's shortage is tomorrow's glut.
He has a degree in economics.
She's economics professor/professor of economics at the University of Berkeley.
See also
applied economics
classical economics
development economics
financial economics
global economics
industrial economics
information economics
labour economics
macroeconomics
mathematical economics
microeconomics
supply-side economics
welfare economics
[ plural ] FINANCE
business activities considered from a financial point of view, and whether or not products or services are likely to make a profit:
Energy policy must be built on economics if it is to succeed.
We are trying to change the economics of the digital business to let consumers benefit.