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Bio-economics (or Biophysical economics) is the study of the feasibility and desirability of metabolic patterns associated with socio-economic systems.(Giampietro and Mayumi, 2009) The concept of bio-economics was proposed by Lotka and was developed by Georgescu-Roegen with the fund-flow model involving the principles of energetics. (REFERENCE)

Bio-economics integrate matter and energy flows as well as monetary flows in one single representation, resulting in linking all together multi-dimensional aspects such as economic, ecological, social and demographic ones.(Giampietro and Mayumi, 2009)