1. Characteristic of institutions of education typically beyond high school; such as, colleges, universities, or other institutions of advanced learning: Academic circles have been debating the value of Latin as a source for a better understanding of English words for years.
2. Theoretical rather than practical: It is amazing how much heat the intercollegiate debate aroused; after all, the importance of the French Revolution is now only an academic question.

The source of the terms academy, academic and related words

On the outskirts of ancient Athens there was a grove sacred to the hero Akademus. In this park the philosopher Plato established his school or college in about 385 B.C. Both the garden and the school were called Akademia after the name of the hero.

The English words academy, academic, academician, academical and others from that family of words are derived from the name of Plato's school.

The term academy is now applied to institutions of higher learning, secondary schools, or any place where special subjects, arts, and skills are taught, so we have military academies, riding academies, fencing academies, dancing academies, and even billiard academies.

The meaning of the word has also been extended to include societies of learned people who have united to advance learning, literature, the arts, and the sciences; such as, the French Academy, the National Academy of Sciences, and the Academy of Motion Picture Arts and Sciences.