privreda

1. economy
   Srpska privreda je prošle godine porasla za tri odsto. — The Serbian economy grew by three percent last year.
   Turizam je važna grana privrede. — Tourism is an important branch of the economy.
2. (as opposed to the state) business; the business sector
   Država mora da pomogne privredi tokom krize. — The state must help businesses during the crisis.
   Posle fakulteta se zaposlio u privredi. — After university he got a job in the business sector.

Ekonomija can mean both the economy and economics as a science, while privreda refers only to the economy itself or the business sector.