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Both of these terms are used to describe the study of the effects of the planets and other cosmic bodies on the lives of people.
The term horoscope means chart (scope) of the hour (horo). The term horoscope is generally widely associated with the daily, weekly or monthly Sun sign horoscopes found in newspapers and on the internet. In fact, it is a perfectly legitimate astrological term which describes a map of the solar system at the exact time and place of birth; usually shown as a 360 degree wheel divided into 12 houses with the planets placed therein.
Astrology means star (astro) study (logy).
It is the science of the interrelationships between the parts of the cosmos as a whole. It is also the art of interpreting the effects of these relationships on people.