Date of Graduation

5-2021

Document Type

Thesis

Degree Name

Bachelor of Science in Business Administration

Degree Level

Undergraduate

Department

Economics

Advisor/Mentor

Farmer, Amy

Abstract

In 2018, suicide was the tenth leading cause of death in the United States, claiming the lives of over forty-eight thousand people.1 Globally, eight-hundred thousand people die from suicide every year, which is twice the number from homicide.2 For years, there has been a stigma around mental illness causing it to be a taboo topic, but recently there has been more of a focus and acceptance in our society. Along with the stigma, throughout most of history there has not been a focus on innovating and curing mental health diseases. In many cases, these diseases left unchecked lead to irrational behaviors and individuals feeling as if they have little-to-no options. Mental illness and suicide not only affect the people and families involved, but also friends, communities, and the greater society as a whole. There are a multitude of direct and indirect costs associated with these issues. The objective of this paper is to determine the total economic effect and societal impact of mental illness and suicide. The main statistics and comparisons will be with the United States and comparing to overall global positioning. The United States still remains one of the worst countries in this category despite some of the highest rankings in attention to mental illness. It is vital to look at how mental illness is caused and then what these issues can begin to affect in people’s lives. After the economic aspects of mental illness are assessed, further studies should be done on how to address this issue and begin to come up with ideas on how to improve this problem and society as a whole.

Keywords

mental illness economics; economics; mental health sector; mental health regression; mental illness

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