Definition of "economic theory" [economic theory]

• (economics) a theory of commercial activities (such as the production and consumption of goods) (noun)

WordNet. Princeton University. 2010.

• "For in the minds of men like Alfred Marshall, Stanley Jevons, John Bates Clark, and the proliferating faculties that surrounded them, there were no wolves in the economic world anymore, and therefore no life-and-death activities for economic theory to elucidate."
• "At Eureka College, my major was economics, but I think my own experience with our tax laws in Hollywood probably taught me more about practical economic theory than I ever learned in a classroom or from an economist, and my views on tax reform did not spring from what people called supply-side economics."