These factors mean that the old economic theories are not always working properly and are not always properly adapted to the current globalization conditions.

Following from this, as more importance is weighted towards behavioural economics, the old theories and rational behaviours of population are believed to weigh less now and thus give misleading guidance to the market players.

4. a. I believe that economic terms can be used for both examination of political actions and such notions as discrimination, marriage, fertility, divorce and the like, or in general the sociological actions. The reasoning for this is the situation in which the economy is currently. Though the business cycles theory have been criticised heavily, I believe that when economy is booming and people have generally positive expectations to the economic development and their personal well being, they are driven away and treat any sociological phenomenon (such as decision to have kids...
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