Discuss the relationship of economics to other social sciences

Difference of Economics to Other Social Sciences | Synonym

discuss the relationship of economics to other social sciences

Relation with Economics explain the inter-relatedness of different Social Sciences and political Science, Sociology, Economics, History and Law. A multidisciplinary field, sociology draws from a variety of other social sciences, including anthropology, political science, psychology, and economics. All of the social sciences seek to understand and establish causal relationships between Political science, sociology, psychology and economics are social science branches that seek to anticipate, understand and explain current The institutions studied by economics is different than other social sciences, although .

In order to study these parallels, one must know to what extent and on what terms do they differ. Where political science deals with the problems of city or state in which men live; sociology focuses on the social lives and emotions related to the masses.

Both are concerned with the study of the society but the opinions being subjectively different.

Relationship of Political Science with social science

Whichever decision the government takes it is always regulated by the society and for the society. Any law is constructed, enforced or implemented because it has something to do with the masses.

Difference of Economics to Other Social Sciences

Relationship between sociology and economics Categorically speaking, Economics is the study of goods and services. Not forgetting that these economic processes and changes are largely determined by the social environment itself.

Economics is concerned with the material wealth of man, and depending on his wealth it is determined that where he should be placed in the society. His respect, status, and class are all results of his monetary possessions. The relationship between Sociology and History: Everything or subject has deep roots which can only be known by studying their history.

Relationship of Economics with Other Subjects

In order to know the sociology of something, it is necessary to know their history and they both are intimately related. Social institutions are in a way inherited from the past. While sociologists are interested in all facts of organised human activity, economists are interested mainly in organised activities that related o the production and consumption of goods and services. As a general rule economists assume that individuals pursue their self-interest and respond to various signals or incentives in the light of that self-interest.

Although this may seem obvious, it is somewhat different viewpoint on human behaviour from that of psychologists and sociologists.

Relationship of Economics with Other Subjects

This perspective often leads economists to draw different conclusions. Economics and Political Science: Economics interacts with almost all other academic disciplines. Economics has various things common with political science. For example, in both subjects we teach public finance, financial relations between the centre of the study as also the economics of planning. When price decreases, demand increases, but only to a point. Institutions The institutions studied by economics is different than other social sciences, although there is great overlap with regard to the government.

Economics studies the impact of businesses, government legislation and treasuries, banks and the stock market. These institutions influence the human ability or willingness to conduct business for the purpose of obtaining wealth. Government legislation works to protect consumers from producers for better or worse. In some countries, government legislation severely restricts entrance of new businesses to the marketplace.

discuss the relationship of economics to other social sciences

Resemblance to Natural Science Economics resembles natural science more than other social science disciplines. The "understanding" of economic forces and events provided by the study of economics is based on theorems and principles, many of which have proven sustainable even as economists have been forced to develop new understandings of economic events. A Nobel Prize is also offered in economics for advancements in research.

discuss the relationship of economics to other social sciences