Complex sentence: Socioeconomics (also known as socio-economics or social economics) is the social science that analyzes how societies progress, stagnate, or regress because of their local or regional economy, or the global economy.
Split into simpler sentences: Socioeconomics (also known as socio-economics or social economics) is the social science that studies how economic activity effects social processes. In general it analyzes how societies progress, stagnate, or regress because of their local or regional economy, or the global economy.