Psychology and the economy

• What is the economy?

  The production, distribution and consumption of goods and services
• What do we mean by implications of psychological research for the economy?


  How does what we learn from the findings of psychological research influence, affect, benefit or devalue our economic prosperity
• What are three examples of psychological research which have had implications for the economy?

  1. Research on attachment

  2. Research on psychopathological disorders

  3. Research on social influences and social change
• How has research on attachment had implications for the economy?

  The idea of children forming multiple attachments - both parents can provide emotional support for child and so promotes more flexible working arrangements within the family = maximise income and contribute more effectively to economy.
• How has research on psychopathology had implications for the economy?

  - Absence from work due to mental disorders costs the economy billions of pounds a year

  - Treatment for disorders allow sufferers to manage their condition and return to work
• How has research into social influences and social change had implications for the economy?

  Social influence research tells us how behaviour and attitudes can be changed through minority influence - can use this to implement changes within the economy