Lesson 12 - Psychology and the Economy Flashcards
The Economy
Refers to the state of a country or region in terms of the production and consumption of goods and services and the supply of money
Ways in which Psychology Affects the Economy
Impact on healthcare service
Impact on laws and policies
Impact on government finances
Impact on employment and productivity
The Economy
Social Influence
Research helps understand how behaviour and attitudes can be changed
Research has been used to encourage people to engage in more healthy behaviours such as eating more healthily
Resulting change means people are healthier in general
Economic implications reduces pressure on NHS resources and people taking less time off work, improving productivity
The Economy
Memory
Cognitive interview was developed based on psychological research into the way in which memory works
Hugely improved amount of accurate information collected from eyewitnesses
Implications for economy is that the amount spent on wrongful arrests/imprisonment and wasted police time will be vastly reduced
The Economy
Attachment
Research has come a considerable way since Bowlby asserted a child only ever forms a secure attachment and lasting monotropic bond with its mother
Led to prevention of women being able to work
Recent research questioned Bowlby and shown importance of father and that both parents are capable of providing emotional support
Now normal for households to have flexible working arrangements
Modern parents better equipped to maximise their income and contribute more effectively to the economy
The Economy
Mental Health
Absence from work costs the economy £15bn a year, 1/3 absences are caused by mental health disorders
Drug therapies have been essential in reducing mental illness cost to economy
Finds treatments for mental health issues and means people can return to work sooner and take less absences
However providing treatment might be a financial burden to the NHS which is already under great financial strain
