Relationship of Sociology and Economics
Sociology and economics as social sciences have close relations. The relationship between the two is so close that one is often treated as the branch of the other. But this does not mean that economics is a branch of sociology.
Interrelationships:
- Both are interested in studying the economic problems of the people and also their means of earning and methods of spending. Both provide data & also help each other in finding out & solving social-economic problems.
- Distribution & production of goods, which is the field of study of economists, must be studied after taking into consideration the social needs.
- Sociologists have contributed to the study of different aspects, economic organization. A sociologist provides knowledge of property system, division of labor, occupations, industries, organization, etc., to an economist. Matters as labor relations, the standard of living, employer-employee relations, social classes, socio-economic planning, socio-economic reforms, etc., are common to both economists and sociologists.
- The area of co-operation between sociology and economics widening. Economists are now analyzing the social factors influencing economic growth. Economists are working with sociologists in their study of the problems of economic development in underdeveloped countries. Economists are more and more making use of the sociological concepts and generalizations in the study of economic problems.
- Further, there are certain socio-economic problems of great importance to be studied by both economists and sociologists. Such problems like poverty, beggary, unemployment, overpopulation and unregulated industrialization have both social and economic implications. Combined studies of both the experts in this regard may be of great practical help in addressing the challenges.
Difference between Sociology and Economics
In spite of the inter-relationship between the two sociology and economics, they different. Points of differences between the two are mentioned here:
| Sociology | Economics |
| Sociology is a science of society and social relationships. | Whereas economics is a science of wealth and choice. |
| Sociology is a much younger science which has a very recent origin. | Whereas economics is comparatively an older science. |
| The scope of sociology seems to be wider. | The scope of economics is narrower. |
| Sociology is general social science. | Economics is a special social science. |
| Sociology is concerned with the social activities of man. | Whereas economics is concerned with the economic activities of man. |
| Sociology is abstract in nature and less precise also. Social variables are very difficult to measure and quantify. | Economics is concrete in nature. Economic variables can be measured and quantified more easily and accurately. |