Word: economics Part of Speech: noun Etymology: From economic (noun) (obsolete) + -s (suffix forming pluralia tantum, and regular plural forms of nouns). Economic is derived from Middle English economike, iconomique (“household management”), and then: * from Middle French iconomique, oeconomique, and Old French iconomike (“(noun) household management; person in charge of household management; (adjective) relating to household management; relating to domestic or family matters; relating to management of a state; reducing costs or expenses, economical”) (modern French économique); and * from their etymon Latin oeconomicus (“(noun) household manager, housekeeper, steward; (adjective) relating to orderly arrangement of written material”) (whence Late Latin economicus (“relating to (management of) a household”)), and economica (“household management”), both from Ancient Greek οἰκονομῐκός (oikonomĭkós, “skilled in household management; frugal, thrifty, economical”) (whence Koine Greek οἰκονομῐκός (oikonomĭkós, “relating to orderly arrangement of written material”)); from οἰκονόμος (oikonómos, “master of a house; household manager, steward; administrator, manager”) + -ῐκός (-ĭkós, suffix meaning ‘of or relating to’ forming adjectives). Οἰκονόμος (Oikonómos) is derived from οἶκος (oîkos, “dwelling place, house; estate”) (ultimately from Proto-Indo-European *weyḱ- (“(verb) to enter in; to settle; (noun) settlement”)) + νόμος (nómos, “law, ordinance”) (from νέμω (némō, “to distribute; to possess”) (ultimately from Proto-Indo-European *nem- (“to distribute; to give; to take”)) + -ος (-os, suffix forming o-grade action nouns from verbs)). By surface analysis, econom(y) + -ics (suffix forming nouns denoting fields of knowledge or practice). Pronunciation: /ˌiːkəˈnɒmɪks/, /ˌɛ-/, /ˌɛkəˈnɑmɪks/, /ˌi-/, /ˌiːkəˈnɔmɪks/ 1. Now chiefly home economics: the art or science of household management, especially relating to the appropriate organization of resources; housekeeping. Labels: dated, plural, singular Example: Thus Logick, Phyſicks, Metaphyſicks, are the burden of Volumes, and the dayly entertainment of the Diſputing Schools: vvhile the more profitable doctrines of the Heavens, Meteors, Minerals, Animals; as alſo the more practical ones of Politicks, and Oeconomicks, are ſcarce ſo much as glanc'd at. Example: [H]e now furthermore contrived the scheme of a little Club, where monthly over a frugal dinner some reunion might take place; […] The scheme was approved by the persons concerned: I have a copy of the Original Regulations, probably drawn up by Sterling, a very solid lucid piece of economics; […] 2. Now chiefly home economics: the art or science of household management, especially relating to the appropriate organization of resources; housekeeping. Labels: dated, plural, singular Example: Being now turned of sixteen, and the family economics getting yearly more propitious and flourishing, he, as his brother had already been, was sent to Glasgow University, in which city their Mother had connexions. 3. The study of resource and wealth allocation, consumption, and distribution, of capital and investment, and of management of the factors of production. Labels: broadly, plural, singular Example: Mary studied economics for five years before going into banking. Example: The Annals of the French Republic, from the Eſtabliſhment of the Conſtitution of the third Year, 6 vols. 8vo.— […] In the fourth [volume] are military pieces; in the fifth and ſixth, various literary intelligence, and memoranda reſpecting commerce, œconomics, &c. may be found. 4. The study of resource and wealth allocation, consumption, and distribution, of capital and investment, and of management of the factors of production. Labels: broadly, plural, singular Example: rural economics Example: [T]he extraordinary thing is that the "Gibson Paradox"—as we may fairly call it—is one of the most completely established empirical facts within the whole field of quantitative economics, though theoretical economists have mostly ignored it. 5. The study of resource and wealth allocation, consumption, and distribution, of capital and investment, and of management of the factors of production. Labels: broadly, plural, singular Example: [T]he oppression has gone far farther than into the economics of Ireland; inwards to her very heart and soul. The Irish National character is degraded, disordered; till this recover itself, nothing is yet recovered. Example: He assured his father that it would never be well for England until this order of the Peasantry was restored to its pristine condition; […] to its condition in all those moral attributes, which make a recognised rank in a nation; and which in a great degree, are independent of economics; manners, customs, ceremonies, rights, and privileges. 6. The study of resource and wealth allocation, consumption, and distribution, of capital and investment, and of management of the factors of production. Labels: broadly, plural, singular Example: The economics of running a restaurant are not easy to get right.