Academy
Part of speech: noun
Definition: A society of learned men united for the advancement of the arts and sciences, and literature, or some particular art or science; as, the French Academy; the American Academy of Arts and Sciences; academies of literature and philology. A school or place of training in which some special art is taught; as, the military academy at West Point; a riding academy; the Academy of Music. An institution for the study of higher learning; a college or a university. Popularly, a school, or seminary of learning, holding a rank between a college and a common school. A place of training; a school. A brothel (1811 Dictionary of Vulgar Tongue)
Example sentence: I think the Swedish Academy wished to manifest its solidarity with the living spirit of Greece today.
Academic
Part of speech: adjective
Definition: Belonging to an academy or other higher institution of learning.Belonging to the school or philosophy of Plato; as, the academic sect or philosophy.Being scholarly; literary or classical, in distinction from scientific.Conforming to set rules and traditions.Having an aptitude for study.Having no practical importance.
Part of speech: noun
Definition: A member of an academy, college, or university; an academician.A person who attends an academy.One holding the philosophy of Socrates and Plato; a Platonist.