If you describe something as economic, then it relates to the economy. And the economy? It's all about money, honey.
The adjective economic, meaning “pertaining to management of a household,” first developed in the 1590’s and might remind you of "Home Economics" classes where you once learned to cook and sew. Usually though, we use economic to describe things relating to finance. It’s not the same as financial, but if you’re talking about a town or country whose finances are in dire straits, it’s ok to say "economic ruin."