Does all within:
All about economics.
play the role of pronoun?
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Sign up to join this communityIt's all about economics
No, "all" is not a pronoun here, but a determinative. The entirety meaning doesn't apply to "about economics" but to "it". "All about economics" is not a PP (preposition phrase), not a single constituent. The "all" is an adjunct and the PP is just "about economics".
The meaning can be glossed as "It is entirely about economics".
(Note that I have inserted "it's" as subject+verb to enable the sentence to be analysed.)