literary study vs liberal arts

literary study and liberal arts both are nouns.

Word	Noun	Adjective	Verb	Adverb
literary study	Yes	No	No	No
liberal arts	Yes	No	No	No

As nouns, liberal arts is a hypernym of literary study; that is, liberal arts is a word with a broader meaning than literary study:

literary study: the humanistic study of literature
liberal arts: studies intended to provide general knowledge and intellectual skills (rather than occupational or professional skills)

Other hypernyms of literary study include arts, humanistic discipline, humanities.

literary study (noun)	liberal arts (noun)
the humanistic study of literature	studies intended to provide general knowledge and intellectual skills (rather than occupational or professional skills)