Economics in the Bible

<p class=ql-align-justify>Many people think that there is no or mere connection between economics and the Bible. When people hear that I majored in economics and biblical studies they wonder why I studied the two quite different fields. Then they guess that I just gave up what I previously studied (economics) to become a pastor. However I think that the Bible teaches a lot about economics which I define the study of decision making by economic agents - an individual a firm a market or a government - in everyday life. Microeconomics is the study of an individual's decision making for him/her and his/her household to maximize utility (that is satisfaction) and a firm's decision making to maximize its profit. Macroeconomics is the study of a government's decision making for a country as a whole under various situations of employment/unemployment inflation business cycles growth etc.</p><p class=ql-align-justify></p><p class=ql-align-justify>When we say about an economy it generally means a situation or a status of a country in terms of employment/unemployment inflation gross domestic product (GDP) or consumption exports/imports and/or national budget/debts or of a household in its budget and/or consumption. However in the New Testament the Greek word <em>oikonomia</em> which corresponds to the English word economy is used more about (managing or governing) <u>activity</u> rather than a situation or a status. Its meanings in the New Testament include <u>stewardship</u> or the <u>management</u> of the household (Luke 16:2-4); <u>mission</u> or <u>dispensation</u> (of spreading the gospel) (1 Cor. 9:17); and God's <u>plan</u> or <u>dispensation</u> of human salvation (Eph. 1:10). I believe that God wants his people to be saved not only spiritually but also materially. By material salvation I mean that God's people can also be saved materially in this world by learning economics of God - learning how to manage their time money and life according to the will of God and his instructions.</p><p></p>