The entire economic system of a country or region, including the production, distribution, and consumption of goods and services. A synonym for 'Wirtschaft' (economy).
example
Die digitale Transformation verändert die globale Ökonomie grundlegend.
Digital transformation is fundamentally changing the global economy.
Usage tips
Word family
The word family includes the adjective 'ökonomisch' (economic, economical) and the terms for a person 'der Ökonom' or 'die Ökonomin' (economist).
EXAMPLE
Aus ökonomischer Sicht ist diese Investition sinnvoll.
From an economic point of view, this investment makes sense.
Context clue
The three meanings can be distinguished well from context. 'Die globale Ökonomie' (the global economy) means the economic system. 'Ökonomie studieren' (to study economics) refers to the science. 'Die Ökonomie der Mittel' (economy of means) describes the sparing use of resources.
EXAMPLE
Die deutsche Ökonomie ist stark vom Export abhängig.
The German economy is heavily dependent on exports.
Register and style
'Ökonomie' (economy / economics) is a rather formal and academic word. In many everyday situations, especially when referring to the economic system, the word 'Wirtschaft' (economy) is used more often.
EXAMPLE
Der Artikel analysiert die Auswirkungen der Krise auf die europäische Ökonomie.
The article analyzes the effects of the crisis on the European economy.
Typical collocations
In the meaning 'Sparsamkeit' (economy / frugality), 'Ökonomie' often appears with a genitive or a preposition that indicates what is being used efficiently. Typical phrases are 'Ökonomie der Bewegung' (economy of movement), 'Ökonomie des Raumes' (economy of space), or 'Ökonomie der Mittel' (economy of means).
EXAMPLE
Ein guter Sportler zeichnet sich durch eine hohe Ökonomie seiner Bewegungen aus.
A good athlete is characterized by a high degree of economy in their movements.
Compare with
synonym · confusable
Ökonomie vs Wirtschaft
economy / pub
'die Wirtschaft' and 'die Ökonomie' can both mean the economic system of a country or region. In this sense, they are very similar. 'Wirtschaft' is very common in everyday language, in the news, and in politics. 'Ökonomie' often sounds somewhat more formal or academic. The words can be confusing because in many texts they can mean the same thing. However, you have to pay attention to the context: 'Wirtschaft' can also mean a pub/tavern or household management. 'Ökonomie' can also mean the academic field of economics or economical behavior. For the general economic system, both work, but 'Wirtschaft' usually sounds more natural in everyday language.
Ökonomie
Im Kurs sprechen wir über die Ökonomie Europas.
In the course, we are talking about Europe's economy.
Wirtschaft
Die Regierung will die Wirtschaft mit neuen Investitionen stärken.
The government wants to strengthen the economy with new investments.