What was economics like as a field before Adam Smith, the father of *modern* economics? Adam Smith is called the "father of modern economics" and his book The Weath of Nations, a fundamental work in the field of economics, is considered the first modern book on economics.  In addition, economics first became a study in 1776 when The Wealth of Nations was published.  

Why is the word "modern" used in both descriptions?  I know that individuals throughout the centuries and even Aristotle have dabbled with some economic theories, but I do not recall anyone making any significant contributions to economics before Adam Smith.  

Were there important contributions to economics made before 1776?
If not, then why do we use the term "modern" even if there was no one in the study previously?
There exists the... "Adam Smith of the Arabs": Ibn Khaldun. He lived during the 14th century. The work of his that focuses on Economics is Muqaddimah translated in English in 1958 as "The Muqaddimah: An Introduction to History".  

He advocated less involvement of the state in production and trade activities, which should focus instead on stabilization policy. He also argued in favor of a reduction in military expenses, in order to invest more on education and technology. He also pointed to the increased efficiency that comes from specialization of labor.  

Don't all these sound eerily familiar? (400 years before Adam Smith). For a summary of his economic theories, see here.