1) (n) Short for "economics."
2) (adj) Very cheap, low-quality, and budget. Short for "economical."
3) (v) To scam (con) someone over the internet.
Jeff: "How's that new Navigator you got over the internet, man? Those cars are sweet...and what a steal for $10,000!"
Geoff: "Um, yeah. It was a damned compass...you know those things you navigate with?"
Jeff: "OOOOOOOH that sucks man...haha, navigator...I get it! You got straight-up ECONNED!!!"
Geoff: "I should have known there was something up when they didn't have a picture. And it was totally econ too. It came from the Dollar Store and the needle was broken. Retail value: 20 cents."
Jeff: "You should have known better, idiot. You're an econ major!" *SMACK!!!*