Entrepreneurial psychology: Revising the Psych 101 course

Abstract

Extant courses in psychology typically begin with the assumption that a stable system of government exists which supports the foundation for the development of society and entrepreneurship. This approach excludes the discussion of capital or assumes its existence. The purpose of this paper is to acknowledge a new CDR index that is remarkable for explaining real gross domestic product (GDP) adjusted for purchasing power parity (G) and use it to introduce new suggestions for teaching psychology as it applies to entrepreneurship theory. It is assumed that the pertinent psychology course is available as a required or optional course for business administration students. The benefit to psychology students is to expand their knowledge about growing areas within psychology and to enable them to join the entrepreneurship community even if they are not themselves entrepreneurs. The benefit to business students is to join the entrepreneurial community as well as to become successful entrepreneurs, as well as help further develop those critical thinking skills that are typically advanced in psychology courses.