œconomics

Noun

economics sg or pl

1. (dated, plural, singular) Now chiefly home economics: the art or science of household management, especially relating to the appropriate organization of resources; housekeeping.
   • 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.1661, Joseph Glanvill, chapter XVII, in The Vanity of Dogmatizing: Or Confidence in Opinions. […], London: […] E. C[otes] for Henry Eversden […], →OCLC, page 166

   Synonyms:

   domestic arts, domestic science, domestic sciences, economic, homemaking, household arts, householdry

   1. (dated, plural, singular) Management of household finances; also, the financial situation of a household.
      • 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.1851, Thomas Carlyle, “Universities: Glasgow; Cambridge”, in The Life of John Sterling, London: Chapman and Hall, […], →OCLC, part I, page 41
2. (broadly, plural, singular) The study of resource and wealth allocation, consumption, and distribution, of capital and investment, and of management of the factors of production.
   • Mary studied economics for five years before going into banking.

   Synonyms:

   dismal science, political economy

   1. (broadly, plural, singular) Chiefly with a descriptive word: the application of this study to a particular domain.
      • rural economics
   2. (broadly, plural, singular) The financial situation of a nation, state, etc.
      • [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.1839 (indicated as 1840), Thomas Carlyle, “Finest Peasantry in the World”, in Chartism, London: James Fraser, […], →OCLC, page 26
   3. (broadly, plural, singular) Chiefly followed by of: the financial aspects of an activity, enterprise, etc.
      • The economics of running a restaurant are not easy to get right.