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Ecological matter basically focuses on environmental related activities or it is environment concerned whereas economic is concerned or related to financial performance.For example in a leather manufacturing industry, if you control the environmental affects (on land, soil etc) of tanning process by reducing the chromium load (amount of chromium which is used in liquor for tanning process to convert raw skin into leather so that it cannot putrefy and becomes flexible or stretchable) that is an ecological process or initiative. Chromium can lead to various types of cancers in human being through water contamination.But if you reduce the power consumption for a particular operation or process that should be treated as an economic process or initiative.
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