Study of flying saucers (7)

I believe the answer is:

ufology

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'study' is the definition.
(I have seen 'Study of exotica' mean 'ufology' so perhaps 'study' could also mean 'ufology')

I cannot understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for ufology that I've seen before include "Study of exotica" , "Study of (supposedly) alien craft" , "Study of weird things in sky" , "New world for the study of flying saucers" , "Formal study of flying saucers" .)

I've seen this clue in The Telegraph, the Sydney Morning Herald and The Times.

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