Hmmm, and what do you say οικονομια means? I suggest it depends on the context and here in the passage which you referenced it appears to be speaking along the lines of "a dispensing" of the truth because Paul is speaking about teaching and-or preaching, ("dispensing" whatever it might be that one believes to be the truth). The ASV seems to bring this out by the context, (though I do not say I wholeheartedly agree with the exact rendering).
1 Timothy 1:3-7 ASV
3 As I exhorted thee to tarry at Ephesus, when I was going into Macedonia, that thou mightest charge certain men not to teach a different doctrine,
4 neither to give heed to fables and endless genealogies, which minister questionings, rather than a dispensation of God which is in faith; so do I now.
5 But the end [τελος - point aimed at] of the charge [command or mandate] is love out of a pure heart and a good conscience and faith unfeigned:
6 from which things some having swerved have turned aside unto vain talking;
7 desiring to be teachers of the law, though they understand neither what they say, nor whereof they confidently affirm.
As may be seen Paul is speaking concerning what should be taught, (by Timothy), and also what was erroneously being taught by some which had turned aside, who were teaching or dispensing things he calls "fables and endless genealogies" rather than an edifying-dispensing of truth in faith and of Elohim.
