The fact that society is influenced by economic factors while economic processes are largely determined by the social environments clearly proves the relation between sociology and economics. Economics is concerned with that part of individual and social action which is most closely connected with the attainment and use of material requisites of well being. It is concerned with the material wellbeing of the humans.
But economic welfare is only a part of human welfare and it can be sought only with the proper knowledge of social laws. In order to solve economic problems of unemployment, poverty or inflation an economist has to take into consideration the social phenomena existing at that particular time. Sociology is thus of considerable help to economics in providing specific data into which economic generalisations may be fitted. Economic and social order is inextricably interwoven.
Many of the problems of sociology and economics are common. The problems of population growth, environmental pollution, slum, child and family welfare and urbanisation are as much economic as sociological which cannot be solved unless and until the social attitudes of the people are studied. The field of economics is restricted to the economic activities whereas sociology is concerned with all the social relationships. Economics is much older than sociology. Sociologist is concerned with the social aspects of production rather than mechanism of production.