ECONOMY

• Psychological research


  It involves real people, investigating real behaviours which have real consequences/implications/applications
• Psychological research can produce a 'ripple effect' in society i.e. it can be the springboard for social change, for the adoption of new ideas, for the modification of some existing ideas and practices
• Implications of psychological research for the economy (macro scale)

  • Funding research into memory loss and dementia
  • Teachers off ill with stress means more money spent by schools on expensive supply agencies
  • Local councils being given more money to spend on bike lanes to encourage cycling
  • Fear of crime means governments spend more on recruiting police officers
• Implications of psychological research for the economy (micro scale)

  • Research into government cuts shows that more vulnerable people are at risk of deteriorating mental health
  • Research shows that women who take maternity leave are perceived as less reliable by employers and so they are overlooked for promotion and the attendant pay rises that go with it
  • Research shows that processed foods are linked to poor cognitive functioning which could lead an individual to adopt a healthy eating plan
• Attachment


  Babies form attachments with adults who are sensitive to their needs, and they form multiple attachments from 10 months onwards
• Both parents can take it in turns to look after the baby initially

  Saving money on nursery fees
• The mother can return to work


  Knowing that the child is happy to attach to others (e.g. the father, nursery workers etc.) which is contributing to the workplace and the family unit financially
• Eyewitness testimony


  Understanding how to question witnesses means that it is less likely that an innocent person is sent to prison due to faulty eyewitness identification of them as the perpetrator
• Miscarriages of justice (innocent person found guilty) are expensive for society as they involve the initial trial, the cost of keeping someone in prison, the appeals process, a re-trial and possible financial compensation for the wrongly-accused