Relationship between Sociology and Economics

Relationship between Sociology and Economics

Sociology and economics as social sciences have close relations. Relationship between the two is so close that one is often treated as the branch of the other. Likewise, let’s discuss how both are mutually related.

Similarities:

The relationship of sociology with economics is very close, intimate and personal. Likewise social relationships are also affected by economic relationships. Economic activities to a great extent are social activities. Hence both are mutually related.

1. Economics takes the help of Sociology. For its own comprehension economics takes the help of sociology and depends on it. Economics is a part of Sociology hence without the help from sociology economics can’t understand itself completely.
2. Economic welfare is a part of social welfare. For the solution of different economic problems such as inflation, poverty, unemployment etc. economists takes the help of sociology and takes into account the social events of that particular time. At the same time society controls the economic activities of man.
3. Some economists also consider economic change as an aspect of social change. Economic draws its generalization basing on the data provided by Sociology. Thus economics cannot go far or develop without the help of Sociology.
4. Sociology also takes the help from economics. Economics greatly enriches sociological knowledge. An economic factor greatly influences each and every aspects of social life. Economics is a part of sociology hence without the help of economics we can’t understand sociology properly.
5. Economic factors play a very important role in every aspect of our social life that is why Sociologists concerned with economic institutions.

Thus both economics and sociology are closely related to each other. Economic welfare is considered as a part of social welfare. It is not possible to study economic welfare without an adequate knowledge about social laws. Economics seeks the help of Sociology in this connection.

Differences:

1. Sociology is a science of society and social relationships whereas economics is science of wealth.
2. Sociology is a much younger science which has very recent origin whereas economics is comparatively old.
3. Sociology is an abstract science whereas economics is concrete in nature.
4. Sociology is a general social science whereas economics is a special social science.
5. Sociology is concerned with the social activities of man whereas economics is concerned with the economic activities of man.
6. Society is studied as a unit of study in Sociology whereas man is taken as a unit of study in economics.
7. Both Sociology and economics differ from each other in respect of the methods and techniques they use for their study.