economics
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economics
The academic discipline that deals with macroeconomic relationships, such as inflation, unemployment, and economic growth. It is also known as VWL.
Sie studiert Volkswirtschaftslehre im vierten Semester.
She is studying economics in her fourth semester.
This long word is easy to understand if you break it down into its three parts: 'Volk' (nation, people), 'Wirtschaft' (economy), and 'Lehre' (science, doctrine, teaching). So it is literally the 'study of the economy of the people.' The 's' in the middle connects the word parts.
Die Grundlagen der Volkswirtschaftslehre sind für viele Studiengänge wichtig.
The fundamentals of economics are important for many degree programs.
In everyday language, especially at universities and in the news, the abbreviation 'VWL' is almost always used. It is very useful to know this abbreviation.
Er hat einen Masterabschluss in VWL.
He has a master's degree in economics.
As a subject of study, this word is often combined with certain verbs. Typical examples are: 'Volkswirtschaftslehre studieren' (to study economics), 'sich für Volkswirtschaftslehre einschreiben' (to enroll in economics), or 'eine Vorlesung in Volkswirtschaftslehre besuchen' (to attend a lecture in economics).
Meine Schwester interessiert sich sehr für Volkswirtschaftslehre.
My sister is very interested in economics.
economy / economics
'die Ökonomie' and 'die Volkswirtschaftslehre' are close in meaning when 'Ökonomie' means the academic field. 'Ökonomie' is a more general word for economic relationships or economics as a discipline. 'Volkswirtschaftslehre' is more specific: it studies the economy of a country or large markets, for example inflation, unemployment, and growth. The words can be confused because both appear in university studies, politics, and the news. As a simple guide: 'Ökonomie' is broader, while 'Volkswirtschaftslehre' is a specific field of study.
Heute besprechen wir in Volkswirtschaftslehre, warum Arbeitslosigkeit für ein Land ein großes Problem ist.
Today in economics, we are discussing why unemployment is a major problem for a country.
Luis interessiert sich für Ökonomie, weil er verstehen will, warum Preise steigen.
Luis is interested in economics because he wants to understand why prices rise.