What is econophysics? If it is just the use of physical methods to investigate economic problems, In what way is econophysics different, if at all, from orthodox mainstream economics? If it is really different from mainstream neoclassical economic thought, Is econophysics just another nonmainstream, or heterodox, approach to economic problems? Can econophysics contribute to the understanding of economic phenomena in a different way than economics itself, no matter if this understanding comes from the orthodox or heterodox traditions? Answering these questions form the subject of the present chapter. The next sections will present a discussion on the similarities and differences between economics and econophysics from the methodological and practical viewpoints. For the benefit of readers not entirely familiar with physical terminology, there will be first a very short summary about the origins of modern physics followed by a similarly short overview on the history of economic thought.