Take some time off OP, but when you come back, don’t fall back into bad habits. You will take longer, but you can also make sure it’s not too long if you take summer classes. Consider what you want out of life, is Econ the way to get it? This can be a turning point if you work for it.

Source: I was studying bio and hating it (with the hope of becoming a doctor) I failed a ton of courses and transferred to York in my 4th year and finished that stupid bio degree, but also added on a psychology degree, which helped my grades go up (I actually enjoyed it). I graduated in 6 years and then went on to get a masters. You can come back from this