Difference Between Sociology and Economics

By : Neha Dhyani

Updated : May 16, 2022, 7:50

Sociology and economics are both disciplines falling under the wider social sciences umbrella. Social sciences refer to disciplines that take a scientific approach to study human behaviour in various contexts. Sociology refers to the in-depth study of human behaviour in society and collective groups of people. In contrast, economics studies the economic aspects of human life, specifically how products and services are produced, distributed, and consumed. Let's explore the Difference Between Sociology and Economics.

What is Sociology?

As the name suggests, sociology involves the study of society or collective groups of people who may connect through associations such as social class, age demographics, religious beliefs, geography, gender, race, and sexuality.

  • By doing so, sociologists attempt to answer complex questions on modern social issues.
  • These social issues span a wide spectrum, from poverty and non-inclusive work cultures to discrimination and lack of access to healthcare.
  • Sociologists leverage scientific methods to understand how various communities engage, the evolution of social constructs, and their impact on social change.

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What is Economics?

Economics is a branch of social science concerned with the production, distribution, and consumption of goods and services. It also covers aspects like resource management and the transfer and flow of wealth. Economics plays a valuable role in the functioning of world economies, businesses, and financial ecosystems, as it offers a framework for studying the actions and decision-making of the individual, businesses, and a government.

  • Within this branch exists two sub-branches. Microeconomics is the study of the behaviours of individual consumers and producers. On the other hand, macroeconomics examines economies on a state, national, and global scale.
  • The role of economists is to formulate and publish diverse economic indicators that evaluate the state of the economy. For example, Gross Domestic Product (GDP) and Per Capita Income are two popular indicators.
  • There are multiple economic systems, such as Market Economy, Planned Economy, Centrally Planned Economy, Socialist, and Communist Economies.
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Difference Between Sociology and Economics

SOCIOLOGYECONOMICS
Sociology is concerned with the in-depth study of diverse collectives of people.Economics delves in-depth into the economics practised by individuals, businesses, and economies.

With a degree in sociology, one explores roles such as policy analyst. Sociology majors can also work in fields like criminal justice and public health.

Careers in economics span a wide range, from economists and financial risk analysts to economic researchers and investment analysts.
Sociology is an analytical subject where practitioners leverage diverse techniques to study various aspects of human behaviour in the context of groups.On the other hand, economics uses various formulae to indicate the state of economics governing individuals, businesses, and economic systems.
Famous sociologists include Emile Durkheim and Max Weber.Prominent economists include Raghuram Rajan, Amartya Sen, Abhijit Banerjee, Esther Duflo, and Michael Kremer.

 

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FAQs on the Difference Between Sociology and Economics

Q 1. Are both considered to be social sciences despite the Difference Between Sociology and Economics?

Though there is a Difference Between Sociology and Economics, both these two disciplines fall under the larger umbrella of social sciences.

Q 2. What is the Difference Between Sociology and Economics regarding their genesis?

The Difference Between Sociology and Economics regarding their genesis is that the Frenchman August Compte coined the term sociology to bring all studies of human activity under one umbrella in the 1830s. Hesiod, an 8th-century BC Greek farmer/poet, is considered to be one of the early economic thinkers. But modern economics found a voice through Scottish philosopher Adam Smith's book, An Inquiry into the Nature and Causes of the Wealth of Nations, published in 1776.

Q 3. What is the Difference Between Sociology and Economics in terms of their study?

The Difference Between Sociology and Economics is also reflected in the study approaches. Sociology is studied through quantitative and qualitative methods, whereas economics is studied more quantitatively. However, economics leverage sociology to understand the social factors for economic outcomes.

Q 4. What is the primary Difference Between Sociology and Economics?

The primary Difference Between Sociology and Economics is - sociology is concerned with the in-depth study of diverse collectives of people. On the other hand, economics delves in-depth into the economics practised by individuals, businesses, and economies.