There is a relation of economics with other sciences or other disciples. Sometimes economists learn from other sciences and sometimes they give different concepts used in other sciences as well. Economics is the subject matter that studies economic conditions, economic problems, economic circumstances, and economic behavior of society. In society, people are related and connected through different means and in different types of activities.
Among these several activities, economic activities create the subject matter of economics, and others create subject matter of other different social sciences. Therefore, there is a grand interconnection between economics and another field of science. Such linkage and relation of economics with other sciences can be briefly presented as below;
Economics and Political Science
Political science is also a subject related to the social behavior of individuals. Political science is related to helping to make the smooth operation of the government. It means, to continue political activities and to run the government, political leaders must know political science and they have to use political science.
Economics provides knowledge about economic situations of the nation and it helps to solve the economic problems of the nation. It is believed that if there is a better and appropriate political system in the nation, the better and sound economic condition will be achieved and if there is a better and sound economic condition in the country then the political system of the country will be strong and high-flying.
Thus, there is a close and direct relationship between economics and politics.
Economics and History
History is the body of knowledge that provides information regarding past events. That means if we have to know about past events, past situations, conditions, behavior, human life, etc. we must take the information about history.
Economics helps to formulate several plans and policies or formulation of plans and policies for the development of the country is among the major duties of economics.
To formulate such plans, policies, and strategies, first of all, past economic conditions, situations, and events which were made to solve the problems or success or performance of plans and policies, etc. are to be known. And for such the study and knowledge of history is necessary. Therefore, there is an interconnection between economics and history as well.
Economics and Mathematics
The study of economics requires mathematical tools and mathematical models very extensively. It means mathematical tools, ideas, skills, and models are needed to make economic theories and principles capable to measure, compare, and find the cause and effect of changes in different economic variables and policies.
In the study of economics various numbers, mathematical signs, tools, rules, and techniques are frequently used. For example, the quantity demand made by the consumer is presented in mathematical number and similarly, the concept of total, marginal and average play significant role in economic analysis and the measurement is not possible without the help of mathematical tools and formulas.
Various curves are also needed in economics to represent the concept of economic principles like showing the slope of economic variables and economic relationships and the concept of mathematics is needed in such course also. For economic forecasting and prediction also, there is a need for mathematics.
In the modern age, the study of economics and its principles without the help of mathematics is not possible and thus, there is a close relationship between mathematics and economics.
Economics and Sociology
Sociology is the subject related to the study of overall social condition or social activities or social phenomena of the society and economics makes the study of the economic condition of the society. A person living in society comes under the subject matter of both of the subjects.
It means the person living in society performs social activities and economic activities at the same time. To complete social responsibilities economic resources are needed and to be used. So, economics is a part of sociology and both have a close relation.
Economics and Geography
Geography is the subject which makes the study of geographies or geographical condition or situation of available natural resources of the nation. It means this subject keeps the information relating to the distribution of different economic as well as non-economic resources available in the country.
They have economic resources and based on such distribution economic policies are also formulated. So, there is also a close relationship between geography and economics.
Economics and Psychology
Economics deals with human psychology related to economic variables. It means the majority of the economic principles and theories try to study human behavior based on an economic variable.
Thus, these theories are developed based on human psychology. By studying human psychology different economic concepts and hypotheses are developed by different economists. So, economics and psychology are also closely related to each other.
Economics and Ethics
Ethics is also a social science. Ethics studies about moral matters. It discourses the norms, principles, and guidelines that administer correct behavior and morals in societies and human lives. So, it focuses on the query of right and wrong. The main aim of subject ethics is to ensure good life and morality in society.
Marshall said that economics is related to increasing material welfare to promote human welfare and human morality. He also considered that economics is normative science thus focused on the ethical ground of economic activities. As a result, the government restricts different activities based on ethical and judgmental grounds though they could generate a huge amount of revenue to the people and a nation.
However classical economists and modern economists like Robbins powerfully trust that the economist should not consider regarding right or wrong or should not be judgmental on ethical aspects of economic problems or economic variables.
However, the subject matters of economics cannot be separated from the principle and notion of ethics and morality. Marshall measured economics and ethics as connected parts and he looked at economics as a study of resources to make better conditions of life for human beings.
Economics and Jurisprudence
Jurisprudence is the major subject of law and it is considered as the science of law. It includes all the philosophical and originated principles and frameworks of law. The progress of the economy is based on the efficient legal system and legal environment of the nation. Decent and good rules always endorse economic advancement and evil rules act as an obstacle to growth.
Different laws of the country directly affect the investment and capital flow from abroad and the laws and regulation followed in foreign countries also directly affect different economic policy formulation process inside the country.
So economic principles and economic policy formulation are directly affected by the system of law and rules followed in the country. So, there is also a close relationship between jurisprudence and economics.
This all shows a relation of economics with other sciences like political science, sociology, psychology, mathematics, statistics, ethics, etc.
Since the 18th-century economists have always mentioned and believed that economics has been independently developed and separated social science from other social sciences until again it becomes nearer to them from the 1980s. Thus there is a relation of economics with other sciences with varying degrees of it as per need and circumstances of time and situation.