Meaning of Homo economicus in English:

Homo economicus

noun

Economics
  • A hypothetical person who behaves in exact accordance with their rational self-interest.

    Also called economic man

    ‘using rational assessments, Homo economicus attempts to maximize utility as a consumer and economic profit as a producer’
    • ‘To give a simple example, imagine Homo economicus in mate search, trying to find a woman to marry.’
    • ‘He can understand homo economicus better than he can real men.’
    • ‘Homo economicus, by definition, is motivated by self-interest.’
    • ‘The neoclassical theory, then, assumes only one type of capitalist, homo economicus, who is rational.’
    • ‘In the city market, homo economicus is a 'rule-following animal'.’

Pronunciation

Homo economicus

/ˌhəʊməʊ ˌɛkəˈnɒmɪkəs/ /ˌhɒməʊ ˌɛkəˈnɒmɪkəs/

Origin

Late 19th century Latin for economic man.