ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Sociology And Economics

Updated on April 17, 2016

It is easier to distinguished sociology from Economics because it concerns itself with a special sector of human experience. Economics investigates all that have to do with business, with getting and spending, with producing and consuming, and with distributing and exchanging the resources of the world.

As Economics developed under the influence of the classical school of Adams smith in England, it deals almost exclusively with the inter-relationships of purely economics variables, the relations of price and supply, money flows, input-output ratios and such phenomena. Economics thus studies only one segment of society unlike sociology, classical economics was largely deductive, starting with the basic assumptions about economics, rationality, and deducing from these an elaborate theory of economic behavior.

The theory of price for example assumes that individual buyers will buy less if the price rises and that producers will produce more. Price under perfect competition is determine by the interaction of the curves derived from plotting changes in supply and demand in relation to price movements.

The theory of the firm shows how profits can be maximized given various relations between fixed cost, average costs and marginal costs, Whether managers actually behave in this way is another matter. Thus little attention has been paid by economist to the individual's actual economic behavior or motivation, and only modest energy has gone into studying productive enterprises as social organizations.

Many important problems, highly relevant to economics have not really become the object of concentrated economic research.Studies of the role of values and preferences in affecting the supply of labor, the influence exerted by prestige and customs on the price of goods, the origins and motivations of entrepreneurs and managers and the contribution of education to psychologists.

Economics thus provides us with models of behavior in limited circumstances and under stated assumptions.This is unlike sociology that studies all aspects of social relations and providing models of behavior based on purely empirical data. However, sociology and economics are coming closer together in trying to bring its model more closely into line with what actually happens in real world, economists have increasingly tried to measure economic behavior as it does in econometric, and to modify their theories in the light of empirical data.

On the other hand, there has been a growing interest among sociologists in the study of the economic system. This convergence can be identified as the problems of economic development and growth in underdeveloped countries have forced economist to widen their perspectives and to pay attention to the non-economic contexts of production- the way in which the extended family, for example may hinder mobility of labor. A particularly interesting example of convergence is the use of the economist notion of exchange to explain various social phenomena such as power.

All social interactions involve an exchange of benefits. Where the interaction, is one-sided, one party can regularly use the threat of withdrawal of favor to achieve compliance. That is, power relationship exists. Thus economist think as sociologist do, especially in terms of systems and subsystems, the relations between parts, especially patterns of dependence, dominance, exchange e.t.c. Both are also interested in measurements; often precise and the relationships between sets of variables, as well as the use of mathematical models as aids in analyzing data.


    0 of 8192 characters used
    Post Comment

    No comments yet.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)