The economics economy

Posted by on March 21st, 2018 | 0 comments | gapfill, IELTS, interactive, noun phrases, nouns, speaking, Task 1, Task 2, vocabulary, writing

Economy, economic, economics

Study the following rules relating to the various forms of the word ‘economy’.

  1. Economy is a countable noun, and like any other countable noun it needs a determiner (usually an article and/or ‘s’).
  2. Economy may be modified, but it always has a determiner:
  • the Indonesian economy
  • a healthy economy
  • healthier economies
  1. Economic is an adjective and so it can modify a noun.
  • economic adviser
  • economic reasons
  • economic activity
  1. When I say the economy, I’m usually talking about the economy of my own country.
  2. Economics is a noun. It can be (a) an academic discipline, (b) a broad professional area, and (c) a discussion topic:
  • Edi studied economics at university.
  • If I’m a teacher, I work in education. A doctor works in health. An economist is someone who works in economics.
  • Let’s not discuss economics. It’s so boring!
  1. The noun economics can be used to pre-modify another noun:
  • ..good economics faculties in Australia.
  1. Indonesians often write “I studied economy.” But they mean “I studied economics.”


Now test your understanding of the rules!

Edi studied economics at university because he was concerned about the economy in his country. He knew that the Indonesian economy was not a healthy economy. At the same time, he understood the economic value of education, and he knew there were good economics faculties in Australia, so he went to study there and was soon able to compare the Indonesian economy with healthier economies in other countries.

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