Ökonomik

Ökonomik is the German term for the science of economics, the study of how individuals, firms, and institutions allocate scarce resources to produce goods and services, distribute incomes, and decide among competing uses. It analyzes choices under constraints and how markets coordinate activities.

The field encompasses microeconomics, macroeconomics, econometrics, and applied areas such as development, public, international, environmental, and behavioral economics. Core methods include theoretical modeling, mathematical analysis, and empirical work using data and statistical tools to test hypotheses and quantify policy effects. It also considers institutions, incentives, and information that influence economic outcomes.

Historically, the term Ökonomik has long been used in German-speaking contexts to denote the science of the economy. It is closely related to the broader category of Wirtschaftswissenschaften and the older concept of politische Ökonomie. German scholars have emphasized both theoretical foundations and empirical, historical approaches within the discipline.

In contemporary usage, Ökonomik is often used interchangeably with economics, though in everyday language “Ökonomie” or “Wirtschaft” may refer more to the economy as a system. Universities in German-speaking countries typically teach economics under the umbrella of Wirtschaftswissenschaften, incorporating both tools of analysis and policy relevance.