Glossary
Economics Professor Terms & Vocabulary
15 essential economics professor terms with plain-English definitions: the vocabulary you’ll hear in training and on day one.
Key economics professor vocabulary
These 15 terms come up constantly in economics professor training, on the job and in interviews. Knowing them helps you follow instructions, document accurately and sound prepared.
- Adjunct
- Part-time instructor.
- Econometrics
- Statistics for economics.
- Elasticity
- Responsiveness to price.
- Fiscal policy
- Government spending and taxes.
- GDP
- Value of goods and services.
- Inflation
- Rising prices.
- Monetary policy
- Central bank actions.
- Office hours
- Time set aside for students.
- Opportunity cost
- What you give up.
- Peer review
- Expert review of research.
- Regression
- Statistical relationship.
- Sabbatical
- Paid leave for research.
- Supply and demand
- How markets set prices.
- Syllabus
- Course plan.
- Tenure
- Permanent faculty status.
Practice these terms
Test yourself with the free Economics Professor practice test: it includes vocabulary questions built from this list. For a complete course, see Economics Professor training.
Browse terms from every career in our career glossary.