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The Collaborative International Dictionary of English v.0.48 (gcide)

Economics \E`co*nom"ics\ ([=e]`k[o^]*n[o^]m"[i^]ks), n. [Gr. ta`
o'ikonomika`, equiv. to "h o'ikonomi`a. See {Economic}.]
1. The science of household affairs, or of domestic
management.
[1913 Webster]

2. Political economy; the science of the utilities or the
useful application of wealth or material resources; the
study of the production, distribution, and consumption of
goods and services of a nation or region, and its effect
on the wealth of a country. See {Political economy}, under
{Political}. "In politics and economics." --V. Knox.
[1913 Webster PJC]