The Greek word oikonomia comes from the verb that means to manage, regulate, administer, and plan.  The word itself is a compound whose parts mean literally to administer or manage the affairs of an inhabited house. Dr. Ryrie defined a dispensation as a “distinguishable economy in the outworking of God’s purpose. If one were describing a dispensation, he would include other things, such as the ideas of distinctive revelation, responsibility, testing, failure, and judgment.” With this basic idea and definition in mind, I will try to represent in the chart below a view supported by the some Traditional Dispensationalists. What I mean by “some” is that this chart does not intend to represent all the views inside Traditional Dispensationalism, but just a common view.

Dispensations