Discuss the relationship between economic and other social science

Economics as Related to other Social Sciences by Mark Bryn Agcambot on Prezi

discuss the relationship between economic and other social science

It is related to other social sciences like sociology, politics, history, ethics, We shall discuss, in some detail, economics in its relation to other. Economics as Related to other Social Sciences and its primary concern is to find out the relationship between the authority and the masses. In this article we will discuss about the relationship of economics with other a brief review of the relation between economics and other related disciplines such .

Resources include fertile soil, water, crop yields, fossil fuels and mineral rock. Economic activity reveals the human adaptation to the real and perceived limitations on available resources.

Difference of Economics to Other Social Sciences

Humans may place a high price on a resource because the good is perceived to be rare and of great value. Scarcity of resources will have an impact on communities and demographics.

Other social sciences study the social, political and psychological impact that scarcity has on a community, such as an increase in divorce rates or crime due to high unemployment in an area, but do not focus study on the economic reasons for the impact. Rational Choice Both economics and political science include the study of rational choice in human behavior. While rational choice presumes that all actors have full information when making a decision, the reality is that full information is available to all actors only in special circumstances.

Relationship of Economics with Other Subjects

In politics, the manipulation of information and knowledge contributes to political influence. Economic theory presumes that individuals think and behave rationally when making economic decisions. Although human behavior is not this simple, economic theory uses this simplicity to establish laws and principles that generally explain shifts in economic events.

discuss the relationship between economic and other social science

For example, the law of supply and demand dictates that when supply increases, price decreases. 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.

Difference of Economics to Other Social Sciences | Synonym

Economics studies the impact of businesses, government legislation and treasuries, banks and the stock market. All of these disciplines study the behaviour of human beings individually and in groups. For this reason they also are sometimes termed behavioural sciences. We may now make a brief review of the relation between economics and other related disciplines such as psychology and sociology. Economics is particularly concerned with consumption, production and resource use by individuals and groups.

Economics is also concerned with the procures by which households and firms make decisions about the use of scarce resources. Psychologists and economists share an interest in what motivates people to take certain action.

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. This perspective often leads economists to draw different conclusions.

discuss the relationship between economic and other social science

Economics and Political Science: Economics interacts with almost all other academic disciplines. Economics has various things common with political science.