I know "economy" and "economics" are related terms that do not mean the same thing. But I am having trouble understanding a question asking me to state how globalization has affected the world's "economics". And I am wondering if economics here is used to actually mean "economy".

Many thanks

  • 1
    You'll have to give a full context before anyone can help you much. Economy is the word for the totality of commerce in some sphere; economics is the study of economy. Generally, they wouldn't be interchangeable. – deadrat Oct 6 '15 at 9:12

As well as the study of economies, there seems to be another less common meaning of economics:

economic conditions http://www.merriam-webster.com/dictionary/economics

economic matters, especially relevant financial considerations http://www.thefreedictionary.com/economics

the condition of a region or group as regards material prosperity. Google definition

This seems to be the meaning the author intended.

  • Yes, I believe the author meant economic conditions. – user140086 Oct 6 '15 at 9:23
  • It wouldn't be unusual for the term economics to be used loosely in that way, even though it is not strictly appropriate. – WS2 Oct 6 '15 at 10:24

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