Ekonomikos

Ekonomikos is a term used to refer to the discipline of economics or to matters related to the economy. In Greek, oikonomikos (οικονομικός) is an adjective meaning economic, and oikonomia (οικονομία) denotes the management of resources, historically household management and, more broadly, the economy. The English word economics shares this lineage but has developed as a distinct social science focused on resource allocation.

Economics studies how individuals, firms, and governments make choices under scarcity, including production, distribution, and consumption of goods and services, price formation, and the functioning of markets. It analyzes efficiency, welfare, and trade-offs, and assesses the effects of policies such as taxation, regulation, and monetary action.

The field has a long history, from ancient and medieval discussions of value to the classical economists of the 18th and 19th centuries, such as Adam Smith and David Ricardo, and through the marginal revolution to modern neoclassical economics. The 20th century added formal models, econometrics, and new approaches like Keynesian analysis, game theory, and behavioral economics.

Subfields include microeconomics, macroeconomics, econometrics, development economics, international economics, environmental economics, and behavioral economics. Methods combine theoretical modeling with empirical analysis, using data, statistics, and computational tools. Ekonomikos informs public policy, business strategy, and scholarly debate, while raising questions about growth, equity, and sustainability.