monasticism vs austerity

monasticism and austerity both are nouns.

Word	Noun	Adjective	Verb	Adverb
monasticism	Yes	No	No	No
austerity	Yes	No	No	No

As nouns, austerity is a hypernym of monasticism; that is, austerity is a word with a broader meaning than monasticism:

monasticism: asceticism as a form of religious life; usually conducted in a community under a common rule and characterized by celibacy and poverty and obedience
austerity: the trait of great self-denial (especially refraining from worldly pleasures)

Other hypernyms of monasticism include asceticism, nonindulgence.

monasticism (noun)	austerity (noun)
asceticism as a form of religious life; usually conducted in a community under a common rule and characterized by celibacy and poverty and obedience	the trait of great self-denial (especially refraining from worldly pleasures)