implications of psychological research for the economy

Question 1

what is the economy?

Answer 1

the state of a country or region in terms of the production and consumption of goods and services

Question 2

what does ‘implications’ mean?

Answer 2

how does what we learn from the findings of psychological research influence, affect, benefit or devalue our financial prosperity?

Question 3

social influence: how could understanding minority influence lead to implications for the economy?

Answer 3

• minorities can advocate change that will benefit the economy
• by understanding how a minority can bring about change, minorities can be encouraged to make changes that will save money
  > eg. environmentalists and recycling save money by recycling goods rather than buying everything new
• also changes to consumption eg. vegetarian / vegan

Question 4

memory: how could research into eyewitness testimony have implications for the economy?

Answer 4

improving EWT can lead to more EWs and therefore money saved on police resources because they will be looking for the correct person

Question 5

memory: how could the development of the cognitive interview lead to implications for the economy?

Answer 5

if the cognitive interview is more effective than the standard police interview, then time and therefore money could be saved by doing more effective interviews, rather than multiple

Question 6

attachment: why could bowlby’s view on the role of the mother lead to implications for the economy?

Answer 6

• bowlby thought that children needed their mothers so women felt like they needed to “stay at home”
• if mothers are staying at home then they aren’t working and contributing to taxes etc.

Question 7

attachment: what are the implications of psychological research into the role of parenting?

Answer 7

• psychological research has shown that both parents are equally capable of providing the emotional support necessary for healthy psychological development
• this understanding promotes more flexible working arrangements within the family
• it is now the norm in lots of households that the mother is the higher earner and so work longer hours
• many couples share childcare responsibilities across the working week
• therefore, modern parents are better equipped to maximise their income and contribute more effectively to the economy

Question 8

attachment: how could research into the harmful effects of deprivation / privation lead to implications for the economy?

Answer 8

• children that have secure childhood attachments go on to become productive members of society, so hold down jobs and contribute to the economy
• children with deprivation or privation may find it difficult in later life to be a productive member of society
• they may also cost more to the government to help and support in later life

Question 9

psychopathology: how could more effect treatments for mental illness lead to implications for the economy?

Answer 9

• if the treatment is more effective then it could lead to money being saved by the NHS not having to pay out for treatments that aren’t as effective
• so the person could be treated quicker, saving money on further treatments

Question 10

psychopathology: why would it be beneficial to the economy if treatments are so effective people could return to work?

Answer 10

• if people can return to work because treatments have been effective then it means that they will be contributing to the economy (eg. paying taxes, national health) rather than being unable to work
• absence from work costs the economy an estimated £15 billion a year
  > 1/3 of all absences are caused by mild to moderate mental health disorders such as depression, anxiety and stress (the telegraph 2014)

Question 11

psychopathology: even though drugs treatments might be as effective as CBT why might it be more beneficial for the economy if people have CBT instead?

Answer 11

• drugs are sometimes accused of being a quick and short term fix
• by having CBT, it targets the root cause rather than just masking symptoms
• therefore, it could mean that the treatment might have a more long-term effect, saving money on not needing further drug treatments

Question 12

biopsychology: how could research into machines that think like humans lead to implications for the economy?

Answer 12

• it could lead to saving money for businesses and organisations by having machines doing jobs to save money eg. recognising faces of CCTV
• may also need to job loss and unemployment impacts the economy