In the Eastern Orthodox Church, economy is a bishop's discretionary power to dispense with church standards (or "canons", as they are called) that a parish priest would otherwise be required to follow. Often it amounts to retroactive recognition granted to sacraments performed in heterodox churches when a person converts to Orthodoxy, or in Orthodox jurisdictions with which the bishop's jurisdiction is not in full communion.

Such dispensations are made with a view towards putting the spirit before the letter and helping the cause of the salvation of souls. Generally only bishops can decide to make such deviations. They are seen to be justifiable because the canons are not laws but rather suggestions and guidelines which might, at times, become an impediment.

However, the normal case should always be akribia, or strict adherence to the standards.