Although the divine economy is the central topic in the New Testament, it has not been touched that much among the Christians in past centuries. The matter of God's economy is greatly developed in Paul's writings. Ephesians is a book on God's eternal purpose to have the church as the Body of Christ. In such a book, Paul uses the word "economy" (1:10; 3:2, 9). In Ephesians the Apostle Paul wants to show us that the church as the Body of Christ is something of God's economy. Paul uses the word economy in relationship with other words such as good pleasure, will, and purpose (1:9, 11). God has a good pleasure which is His heart's desire. God also has a will which is according to His good pleasure. The reason why I visit a certain place is because I first have a desire. Then I make a decision to go to that place. This is the exercise of my will according to my desire, my good pleasure. God's will came out of His desire. In Ephesians the word purpose is used as a noun and as a verb (3:11; 1:9). The purpose comes out of the will. In God's heart there was a desire, and out of this desire God made a will. According to God's will, He made a purpose.
Because God has a purpose, He needs an economy. The Greek word for economy is oikonomia. This Greek word is composed of two words—oikos meaning house or household and nomos meaning law. Economy is a "house law," a household administration. This household administration is for the carrying out of God's purpose, God's plan. God's economy is God's planned administration to carry out His eternal purpose.
We all need to realize what God's eternal purpose is. Bible scholars have discovered that in God's planned administration there are different ages. The Bible unveils to us the age before the law, the age of the law, the age of grace, and the age of the kingdom. These are the four main ages revealed in the Scriptures. The age before the law was from Adam to Moses (Rom. 5:13-14). The age of the law was from Moses to Christ's first coming (John 1:17). The age of grace is from Christ's first coming to His second coming (John 1:17; Titus 2:11). The fourth age will be the age of the kingdom, the age of the millennium, the thousand years of Christ's reign (Rev. 20:4-6). In these four different ages, God has different ways to deal with His people. In the age before the law, God dealt with the patriarchs mainly according to His mercy and grace based upon His promise. In the age of the law, from Moses to Christ's first coming, God dealt with His people according to the law. From Christ's first coming to His second coming, the age of grace, God deals with us according to His grace. After Christ's second coming, for one thousand years God will deal with His people according to His kingdom. These are the four main different ways for God to deal with people in the four different ages. Although these Bible teachers saw these four different ages, they did not tell us the purpose for which God deals with people in these four major ways.