economics
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economics
The academic discipline that deals with the economy, that is, the production, distribution, and consumption of goods and services. The plural 'Wirtschaftswissenschaften' is often used in German.
Sie studiert Wirtschaftswissenschaft an der Universität Frankfurt.
She is studying economics at the University of Frankfurt.
This long word is made up of three parts: 'die Wirtschaft' (the economy), the linking -s, and 'die Wissenschaft' (science / academic discipline). So it literally means 'the science of the economy.'
Die moderne Wirtschaftswissenschaft nutzt viele mathematische Modelle.
Modern economics uses many mathematical models.
When talking about the subject of study, the plural form 'die Wirtschaftswissenschaften' (economics) is very often used. So people typically say 'Wirtschaftswissenschaften studieren' (to study economics).
Mein Bruder studiert Wirtschaftswissenschaften in Berlin.
My brother is studying economics in Berlin.
In a university setting and among students, the subject is often informally abbreviated as 'WiWi.' This abbreviation is very common.
Bist du auch im WiWi-Kurs am Freitagmorgen?
Are you also in the WiWi course on Friday morning?
economy / pub
'die Wirtschaft' and 'die Wirtschaftswissenschaft' belong to the same topic area, but they do not mean the same thing. 'Die Wirtschaft' is the real-world system of companies, work, trade, production, and consumption in a country or region. 'Die Wirtschaftswissenschaft' is the academic subject that studies and explains this system. Learners may confuse the words because both have to do with economics. When talking about prices, companies, or the situation of a country, you usually mean 'die Wirtschaft' (the economy). When talking about studies, research, or a school or university subject, 'die Wirtschaftswissenschaft' (economics) fits.
Ich interessiere mich für Wirtschaftswissenschaft, weil ich Märkte besser verstehen möchte.
I am interested in economics because I want to understand markets better.
Nach der Krise erholt sich die Wirtschaft nur langsam.
After the crisis, the economy is recovering only slowly.