Not quite @Dementedswan
Efficacy is the proportional reduction in disease in the vaccinated group in a clinical trial compared to the unvaccinated group.
Effectiveness/efficiency is the same but in the general population after a vaccine is in general use.
So say in a clinical trial you have 1000 people in the vaccinated group and 1000 people in the unvaccinated group.
In the vaccinated group 1 person becomes infected with the virus.
In the unvaccinated group 30 people become infected with the virus.
The infection risk for the vaccinated group is 1/1000 or 0.1%
The infection risk for the unvaccinated group is 30/1000 or 3%
The vaccine efficacy is calculated by:
(risk of infection in unvaccinated group - risk of infection in unvaccinated group)/risk of infection in unvaccinated group
So (3%-0.1%)/3% = 2.9%/3% = 97% efficacy
Preempting anyone who says hang on 2.9/3 is 0.97, don't forget 2.9% actually means 2.9/100 