Economy, Psychology, Politics and Us – By Nisal Rukshan The Economy of a country has a profound impact on the effective functioning of all other sectors. To measure the economic perspectives, many standardized factors such as Gross Domestic Product (GDP) – the total gross value added by all domestic producers in the economy, Gross National Income – per capita (GNI), Exports and imports of goods and services, have to be considered. In psychology, thoughts, feelings, and behaviors are considered to provide a better understanding of human activities. These human activities vary according to social, economic, political, and scientific factors. The behavioural economics reveals how human behaviours are consistent with economic perspectives. It further explains beyond the neo-classical definitions of rational or optimal decision-making. By deriving the foundations of questioning and through researching on these fields, behavioural economists further elaborate that “people as human beings who are subject to emotion and ...

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