Phonology is the study of sound organization and usage in languages, distinct from phonetics, and relates to morphology, syntax, and pragmatics. It analyzes phonemes, the smallest sound units, and their interaction, employing various models like generative, autosegmental, metrical, and lexical phonology. Lexical phonology discusses the interaction between phonology and morphology, distinguishing between lexical and post-lexical rules applied within and across word boundaries.