Treatments for mental disorder vary depending on the theory behind the mental disorder, research of various therapies, and the efficacy (success) of the treatments against the disorder. The biological approach to mental disorders is often associated with the medical model, which includes the use of medications to treat and/or manage the symptoms related to a particular mental disorder. Genetic factors have been a significant part of diagnosing disorders related to developmental disabilities, such as Down’s syndrome. However, as the understanding of genetics and their interactions with environmental catalysts grows, a greater understanding of the onset of mental disorders is also growing.
Describe the main types of psychotherapies; for each type, explain how it may be more effective for a particular set of disorders.
Describe the major types of drug classes that are used to treat mental disorders. Briefly explain how they work based on their neurochemistry.
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Discussion
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Discussion
Capital budgeting is an important process for companies, involving the analysis and the selection of long-term fixed assets for investment purposes. Many methods are available for assessing strong capital projects, with each with its benefits and limitations. The Net Present Value (NPV) method is largely judged for its ability to account for the time value of money, which provides an obvious degree of the profitability of a project by comparing the present value of cash coming to go (Knoke et al., 2020). NPV provides a dollar amount that represents the added value of the project to the companies, which provides clear decision-making. However, NPV relies heavily on the proper estimation of cash flows and discount rates, which can be challenging, especially for projects with improper future cash flows. In addition to this, it poses the reinvestment at the discount rate, which may not always reflect market conditions properly.
Another technique that is usually used is the Internal Rate of Return (IRR), which computes the discount rate at which the present value of the cash coming is equal to that of the cash going. IRR provides a percentage return on the investment, which makes it easy to compare projects with different cash flow patterns. Its reflexive nature helps in decision-making, but it can sometimes lead to unclear decisions, especially when there are many IRRs or offbeat cash flow patterns. In addition, IRR does not evaluate the scale of investment, which strongly affects the comparison between the projects.
The Payback Period method measures the time required for the starting investment to be taken from a project’s cash flows. It provides simple and observable measures for assessing liquidity and risk, especially for projects with high doubt (Shafiee et al., 2020). However, the Payback Period ignores the cash flows beyond the payback period, which ignores the project’s long-term profitability. It also ignores the time value of money, which leads to possible errors in evaluating the project’s profitability.
The Profitability Index (PI) compares the present value of upcoming cash flows to the starting investment, which provides ideas into the efficiency of the project in generating the value per unit of investment. PI helps rank projects based on their strong profitability, but it may not provide clear guidance when comparing mutually unique projects with diverse cash flow timings and scales. In addition, PI supposes the reinvestment at the project’s discount rate, which may not match with the actual market conditions. In conclusion, while each capital budgeting method provides some unique ideas, no single method is without restrictions. Companies often use a combination of techniques to make well-informed investment decisions, evaluating different factors such as risk, liquidity, and profitability in order to confirm the proper utilization of resources and maximization of shareholder wealth.
References Knoke, T., Gosling, E., & Paul, C. (2020). Use and misuse of the net present value in environmental studies. Ecological Economics, 106664. https://doi.org/10.1016/j.ecolecon.2020.106664 Shafiee, M., Alghamdi, A., Sansom, C., Hart, P., & Encinas-Oropesa, A. (2020). A through-life cost analysis model to support investment decision-making in concentrated solar power projects. Energies, 1553. http://dx.doi.org/10.3390/en13071553
Responses
Response 1:
Describe the main types of psychotherapies; for each type, explain how it may be more effective for a particular set of disorders.
The three main types of psychotherapies are the psychodynamic (psychoanalytical) approach, the cognitive-behavioral approach, and the family and couple approach. All three of these have in common are their length of use and the solid nature of their theoretical conceptualization. Existence of specific training in their practice by clinicians, and their widespread use within the field of healthcare. (Currie 2004) The psychodynamic approach focuses on the internal, unconscious mental forces that individuals are largely unaware of, but drive emotions and actions. Unconscious psychological activities include underlying desires and anxieties that are present deep within the mind yet influence personality and behavior. (Currie 2004) The cognitive-behavioral approach focuses on changing unhelpful or unhealthy thoughts and behaviors. It includes a combination of 2 therapies: ‘cognitive therapy’ and ‘behavior therapy’. Basis of both these techniques is that healthy thoughts lead to healthy feelings and behaviors. The family and couple approach uses the broad conceptual foundations of systems of psychology which uniquely focuses on both the understanding and the intervention in systemic relational systems. For instance, couples, families, groups, organizations, and society. The unique focus on both systemic and relational elements of behavior is unique to the family and couple approach. (Currie 2004)
Describe the major types of drug classes that are used to treat mental disorders. Briefly explain how they work based on their neurochemistry.
The main types of psychiatric medication are antidepressants (help with moderate or severe depression), antipsychotics (experiencing bipolar disorder, also helps control hypomania and mania), sleeping pills and minor tranquilizers (help with sleep if experience severe insomnia difficulty getting to sleep or staying asleep or experience severe anxiety, to help you feel calm), lithium and other mood stabilizers (help stabilize mood if experience extreme mood swings). (England 2021)
Antidepressant and Antipsychotics drugs increase the reuptake of serotonin (tianeptine), increase the release of serotonin and norepinephrine (mirtazapine), act directly on serotonin and melatonin receptors (agomelatine) or otherwise influence synaptic neurotransmission. Dopamine is a neurotransmitter, which means that it passes messages around your brain. Most antipsychotic drugs are known to block some of the dopamine receptors in the brain. This reduces the flow of these messages, which can help to reduce your psychotic symptoms. (England 2021)
Lithium works by changing the release of chemicals like dopamine or serotonin in the brain. (England 2021)
Stabilizers influence certain neurotransmitters in the brain (chemicals in the nerve cells) that may be involved in causing mood disturbance. Anticonvulsants reduce the “excitability” of nerve impulses in the brain. (England 2021)
References:
Currie, Marie (2004). National Library of Medicine. The Three Approaches of Psychotherapy. https://www.ncbi.nlm.nih.gov/books/NBK7123
England, Chasey (2021). Psychiatric Medication. Mind. https://www.mind.org.uk/information-support/drugs-and-treatments/aboutmedication
Response 2:
Treatments for mental disorder vary depending on the theory behind the mental disorder, research of various therapies, and the efficacy (success) of the treatments against the disorder. The biological approach to mental disorders is often associated with the medical model, which includes the use of medications to treat and/or manage the symptoms related to a particular mental disorder. Genetic factors have been a significant part of diagnosing disorders related to developmental disabilities, such as Down’s syndrome. However, as the understanding of genetics and their interactions with environmental catalysts grows, a greater understanding of the onset of mental disorders is also growing.
· Describe the main types of psychotherapies; for each type, explain how it may be more effective for a particular set of disorders.
· Describe the major types of drug classes that are used to treat mental disorders. Briefly explain how they work based on their neurochemistry.
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