section_path: Etymology
section_name: Etymology
paragraph_text: Etymology
  
  The word economy in English is derived from the Middle French 's yconomie, which itself derived from the Medieval Latin 's oeconomia. The Latin word has its origin at the Ancient Greek 's oikonomia or oikonomos. The word's first part oikos means "house", and the second part nemein means "to manage".
  
  The most frequently used current sense, denoting "the economic system of a country or an area", seems not to have developed until the 1650s.