musicology vs arts

musicology and arts both are nouns.

Word	Noun	Adjective	Verb	Adverb
musicology	Yes	No	No	No
arts	Yes	No	No	No

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

musicology: the scholarly and scientific study of music
arts: studies intended to provide general knowledge and intellectual skills (rather than occupational or professional skills)

Other hypernyms of musicology include humanistic discipline, humanities, liberal arts.

musicology (noun)	arts (noun)
the scholarly and scientific study of music	studies intended to provide general knowledge and intellectual skills (rather than occupational or professional skills)