The difference is hermeneutics i.e. the study of interpretation theory. Contemporary or modern hermeneutics encompasses not just issues involving the written text, but everything in the interpretative process. This includes verbal and nonverbal forms of communication as well as prior aspects that impact communication, such as presuppositions, preunderstandings, the meaning and philosophy of language, and semiotics. Semiotics, also called semiotic studies or semiology, is the study of sign processes, or signification and communication, signs and symbols, both individually and grouped into sign systems. It includes the study of how meaning is constructed and understood. See
http://en.wikipedia.org/wiki/Biblical_hermeneutics
There are several special literary aspects to look at when studying the bible, but the overarching theme is that each genre has a different set of rules that applies to it. Of the genres found in scripture, there are: narratives, histories, prophecies, apocalyptic writings, poetry, psalms and letters. In these, there are differing levels of allegory, figurative language, metaphors, similes and literal language. For instance, the apocalyptic writings and poetry have more figurative and allegorical language than does the narrative or historical writing. These must be addressed, and the genre recognized to gain a full understanding of the intended meaning. The hermeneutics of religion can be seen as another form of continental philosophical theology.
The system of hermeneutic interpretation developed by Paul Ricœur has heavily influenced the school of thought. A central theme in the hermeneutics of religion is that God exists outside the confines of the human imagination. Trajectory hermeneutics or redemptive-movement hermeneutics is a liberal teaching in postmodern Christianity that parts of the Bible can have progressive, different meanings as a culture unfolds, advances, and matures.
One teaching under this view is that homosexuality was once a sin, but has become acceptable due to cultural changes and advances in understanding of psychology and the social sciences. Proponents of trajectory hermeneutics may point to Romans 1:18–32 and explain that Paul has always been speaking to those who violate their sexual orientation, those that go against their natural desire. But a homosexual’s natural desire is for the same sex, which is now defended as natural.