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Psychology and the Economy
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Elias
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Cards (15)
What does psychological research involve?
Real people investigating real
behaviors
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What is a potential outcome of psychological research in society?
It can lead to
social change
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What are some applications of psychological research?
Modification
of existing ideas and practices
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How does psychological research impact government spending?
It influences spending on
health
,
education
, and law
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How does teacher stress impact school finances?
More money spent on
supply agencies
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How does fear of crime affect government spending?
Increased spending on recruiting
police officers
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Why might doctors prefer drug therapy for depression?
It is
cheaper
than
cognitive behavioral therapy
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What small-scale economic implications arise from psychological research?
Vulnerable people risk deteriorating
mental health
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How does maternity leave affect women's employment perceptions?
Women are seen as
less reliable
by employers
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What is a consequence of women being perceived as less reliable?
They may be overlooked for
promotions
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What does research suggest about workforce happiness?
A happy workforce is more
productive
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How can employers respond to research on workforce happiness?
Introduce schemes to boost
employee
well-being
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What are the economic implications of Schayer & Emerson's research?
Parents can share childcare
responsibilities
Savings on
nursery fees
Mothers can return to work
confidently
Both
parents
contribute
financially
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What are the economic implications of Loftus & Palmer's research?
Improved questioning reduces
wrongful
convictions
Fewer
miscarriages
of justice save
costs
Reduces
expenses
related to trials and appeals
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How should students approach exam questions on psychological research and the economy?
Think practically about benefits and costs
Link studies to business, health, and education
Consider
macro
and
micro
economic impacts
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