Difference Between Sociology and Economics – Sociology vs Economics
By BYJU'S Exam Prep
Updated on: November 14th, 2023
The difference between sociology and economics is that sociology refers to the in-depth study of human behaviour in society and collective groups. In contrast, economics studies the economic aspects of human life, specifically how products and services are produced, distributed, and consumed. Sociology and economics are both disciplines falling under the wider social sciences umbrella.
Difference Between Sociology and Economics PDF
Social sciences are disciplines that take a scientific approach to study human behaviour in various contexts. Sociology and Economics difference is that sociology is the study of social interactions or social activities, whereas economics is the study of only human economic activity. Read the key differences between sociology and economics discussed below.
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Difference Between Sociology and Economics
The difference between sociology and economics is that sociology is concerned with society as a whole, which encompasses a variety of institutions and systems. Economics examines how wealth is obtained, distributed, and shared in society. The following table provides a clear understanding of Sociology and Economics differences.
Sociology and Economics
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Difference Between Sociology and Economics |
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Sociology |
Economics |
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Sociology is concerned with the in-depth study of diverse collectives of people. |
Economics delves in-depth into the economics practiced by individuals, businesses, and economies. |
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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. |
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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. |
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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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The social interactions that people have are the focus of sociology. |
Economics is focused on human economic activity. |
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The study of sociology is abstract and less exact. Social factors are particularly challenging to quantify and evaluate. |
The nature of economics is concrete. Economic variables are easier and more accurate to measure and quantify. |
Sociology and Economics
The importance of sociology and economics in their respective fields of study is significant. The relationship between them aids economists and sociologists in formulating methods for societal welfare.
Therefore, a comprehensive analysis of sociology and economics is necessary for all developmental programs and schemes. Below is the difference between sociology and economics, along with a brief description.
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.
What is Economics?
Economics is a branch of social science concerned with producing, distributing, and consuming 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 individuals, businesses, and the 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.
Relationship between Sociology and Economics
The relationship between sociology and economics is that both sociology and economics are social science subfields that focus on examining all facets of human development. They research their respective fields of interest; sociology and economics both employ scientific methodologies.
The similarities between sociology and economics are as follows:
- Sociology and economics are interdependent in their respective studies.
- Economics primarily focuses on human economic issues and is closely tied to social activities in society.
- Economic issues significantly impact sociology, which is concerned with studying social beings.
Conclusion:
Key Difference Between Sociology and Economics
The key Difference Between Sociology and Economics is that Sociology is the study of human society, whereas Economics is the study of production units. Auguste Comte contributed towards the origin of modern-day Sociology, while the father of modern economics is Adam Smith.
