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Essay from the year 2009 in the subject Sociology - Economy and Industry, grade: B, , language: English, abstract: Sociology and economics have been regarded as two distinct and diversesubjects in the realm of social sciences. Although both of these subjects are aboutunderstanding the society, sociologists and economists differ in a number of ways ona number of issues of debate. For example, sociological studies are more dependenton empirical research and often involve considerable amount of fieldwork andcollection of data. On the other hand, economics is more dependent on theory basedmathematical deductions, although economic implications are extensively examinedin the realm of business and commerce. However, with the lapse of time, it hasbecome increasingly clear that in order to obtain a holistic view of society, bothsociological and economic information are necessary. Therefore, in the mid 20thcentury, several scholars started working on economic issues from strictlysociological perspective. In this way, economic entities like the household, the firm,and the government are now being looked into with relation to people and the societyat large. Business organisations are particularly important because they can be thoughof as quasi-social structures that do not always strictly behave according as wellestablished economic formulas, theories, and doctrines. Sociologists are now utilisinga number of academic and research approaches to understand business entities morecomprehensively. In this essay, the most important sociological approaches arediscussed concisely.