The meaning of Augustus in the Bible
(From Easton's Bible Dictionary)

the cognomen of the first Roman emperor, C. Julius Caesar Octavianus, during whose reign Christ was born (Luke 2:1). His decree that "all the world should be taxed" was the divinely ordered occasion of Jesus' being born, according to prophecy (Micah 5:2), in Bethlehem. This name being simply a title meaning "majesty" or "venerable," first given to him by the senate (B.C. 27), was borne by succeeding emperors. Before his death (A.D. 14) he associated Tiberius with him in the empire (Luke 3:1), by whom he was succeeded.

See more on the meaning of Augustus in the Bible:
Augustus {International Standard Bible Encyclopedia}
Augustus {Hitchcock's Bible Name}

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