Sociology and Economics has a close relationship. Relationship between sociology and economics is very close because society is very much influenced by economics.
Economics is the study of economic problems of the people or the study of human behaviour centered round the scarce means with alternative use and unlimited human wants. If we want to eradicate poverty from a community, we require the help of economists. But bringing a change in the outlook of the community members and arousing their consciousness about the poverty, falls in the jurisdiction of sociology. Every economic change, say, industrialization brings new social problems in the country and thus the sociologists are required for planning and eradication of the social problems. Economic changes effect social life. For instance, business prosperity affects the rate of marriages. The employment of women in different fields has changed the structure and functions of the family in modern life. Re-organizational and dis organizational problems have cropped up in family and marriage institutions. Economic is the study of production, distribution, consumption and exchange of goods and services. Economics deals with only economic variables, i.e., demand. supply, price, money flow. input-output ratios and the like. Relatively little attention has been paid to the individual's behaviour. his motivation or his social organization. Values and preferences in affecting the supply of labour, customs and tradition of the consumers, contribution of non-economic (punctuality, work ethics, honesty) factors of production have been left to sociologists and psychologists.
Modern sociologists and economists think alike in terms of systems and sub-systems. They put emphasis on the interdependence of the parts of a system of production or a social system. Both stress on the quantification of observations and mathematical models as aids in analyzing data. The socioeconomic approach is becoming popular among sociologists and economists alike.
Difference between Sociology and Economics
- Sociology studies all kinds of social relationships.
- It is generalized science
- The scope of sociology seems to be wider. It has a comprehensive viewpoint.
- It is a science of recent emergence.
- Sociology has abstract in nature and less precise. Social variables are very difficult to measure and to quantify.
- It deals with only those relationship which are economic in character.
- It is a special social science.
- The scope of economics is narrower. It does not have a comprehensive viewpoint.
- It has attained an advanced degree of maturity.
- Economics is concrete in nature. It is more precise. Economic variables can be measured and quantified more easily and accurately.