(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.

Audio Pronunciation: (ec·o·nom·ics)

Download Audio Pronunciation: economics.mp3

Usage Notes:

  • 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.

Related Video:

Additional Information:

Related Terms:


Works Consulted

Collins English Dictionary: Complete and Unabridged. 6th ed. 2003. Glasgow, Scotland: Collins.

Farlex. (N.d.) Dictionary, Encyclopedia and Thesaurus. Farlex. (

Macmillan. (N.d.) Macmillan Dictionary. (

Merriam-Webster. (N.d.) Merriam-Webster Dictionary. (

Oxford University Press. (N.d.) Oxford Dictionaries. (

Princeton University. 2010. WordNet. (

Random House Webster’s College Dictionary. 1997. New York: Random House.

Taylor & Francis. (N.d.) Routledge Handbooks Online. (

Wikipedia contributors. (N.d.) Wikipedia, The Free Encyclopedia. Wikimedia Foundation. (

Wikipedia contributors. (N.d.) Wiktionary, The Free Dictionary. Wikimedia Foundation. (


How to Cite the Definition of Economics

ASA – American Sociological Association (5th edition)

Bell, Kenton, ed. 2015. “economics.” In Open Education Sociology Dictionary. Retrieved November 14, 2018 (

APA – American Psychological Association (6th edition)

economics. (2015). In K. Bell (Ed.), Open education sociology dictionary. Retrieved from

Chicago/Turabian: Author-Date – Chicago Manual of Style (16th edition)

Bell, Kenton, ed. 2015. “economics.” In Open Education Sociology Dictionary. Accessed November 14, 2018.

MLA – Modern Language Association (7th edition)

“economics.” Open Education Sociology Dictionary. Ed. Kenton Bell. 2015. Web. 14 Nov. 2018. <>.