Definition of Economics
(noun) The social science concerned with description and analysis of the production, distribution, and consumption of goods and services and the allocation and management of investments, money, and wealth.
Examples of Economics
- Determining the causes of depression or recession.
- Studying the affect of climate change on the global economy.
- American English – /ek-uh-nAHm-iks/
- British English – /e-kuh-nOm-iks/
International Phonetic Alphabet
- American English – /ˌɛkəˈnɑmɪks/
- British English – /ˌiːkəˈnɒmɪks/
- Also called economic science.
- Informally called the dismal science.
- Historically called political economy.
- An (noun) economist (adverb) economically studies the economy to create (adjective) economic or (adjective) economical works.
- Economic Sociology Resources – Books, Journals, and Helpful Links
- Word origin of “economics” – Online Etymology Dictionary: etymonline.com
- allocation of resources
- conspicuous consumption
- division of labor
- social science
Collins English Dictionary: Complete and Unabridged. 6th ed. 2003. Glasgow, Scotland: Collins.
Delaney, Tim, and Tim Madigan. 2015. The Sociology of Sports: An Introduction. 2nd ed. Jefferson, NC: McFarland.
Farlex. (N.d.) TheFreeDictionary.com: Dictionary, Encyclopedia and Thesaurus. Farlex. (http://www.thefreedictionary.com/).
Macmillan. (N.d.) Macmillan Dictionary. (https://www.macmillandictionary.com/).
Merriam-Webster. (N.d.) Merriam-Webster Dictionary. (http://www.merriam-webster.com/).
Oxford University Press. (N.d.) Oxford Dictionaries. (https://www.oxforddictionaries.com/).
Princeton University. 2010. WordNet. (https://wordnet.princeton.edu/).
Random House Webster’s College Dictionary. 1997. New York: Random House.
Taylor & Francis. (N.d.) Routledge Handbooks Online. (https://www.routledgehandbooks.com/).
Wikipedia contributors. (N.d.) Wikipedia, The Free Encyclopedia. Wikimedia Foundation. (https://en.wikipedia.org/).
Wikipedia contributors. (N.d.) Wiktionary, The Free Dictionary. Wikimedia Foundation. (http://en.wiktionary.org).
ASA – American Sociological Association (5th edition)
Bell, Kenton, ed. 2015. “economics.” In Open Education Sociology Dictionary. Retrieved November 28, 2023 (https://sociologydictionary.org/economics/).
APA – American Psychological Association (6th edition)
economics. (2015). In K. Bell (Ed.), Open education sociology dictionary. Retrieved from https://sociologydictionary.org/economics/
Chicago/Turabian: Author-Date – Chicago Manual of Style (16th edition)
Bell, Kenton, ed. 2015. “economics.” In Open Education Sociology Dictionary. Accessed November 28, 2023. https://sociologydictionary.org/economics/.
MLA – Modern Language Association (7th edition)
“economics.” Open Education Sociology Dictionary. Ed. Kenton Bell. 2015. Web. 28 Nov. 2023. <https://sociologydictionary.org/economics/>.