The influence of psychology in financial decision making

Psychology is the study of behavior and mind, embracing all aspects of human experience. It is an academic discipline and an applied science which seeks to understand individuals and groups by establishing general principles and researching specific cases.

Psychiatry is devoted to the diagnosis, prevention, study and treatment of mental disorders. These include various abnormalities that are affective, behavioural, cognitive and perceptual.

Psychology undergraduate programs may award an associate's degree in psychology, a Bachelor of Science or Bachelor of Arts. BS programs may place a greater emphasis on scientific methodologies or on biological bases of behavior than BA programs, but this varies a good deal from school to school. The American Psychological Association notes that there is much overlap and the decision is not critical. Either should cover the prerequisites—of course, programs may be impressed by a transcript that goes above the minimum in psychological scientific standards.