Family economics means that it is by applying the economic concepts like decision making, distribition, division of labour etc for studying a particular family.

In the past, the familiy economics is a narrow conept and there is not so much importance to the family economics. During that period an individual effort to make the economy more stronger.
But in this present economy everyone has their own contributions to make the economy more stable and attain growth in the coming days. Now the family economics is being more broader than the older days and it provides a lot of oppurtunities to the business firms by skilled labourers.