First year York University students responded to online questionnaires. In Study 1 (n = 285), their feelings about their financial situation, as well as depression, ruminative brooding, and social support were assessed. Study 2 (n = 68) examined students’ optimism (T1), social support (T2), and depression (T2) 8 weeks later. The following scales were used to measure the variables: STUDY 1 Economic threat: Threat subscale of Stress Appraisal Measure (4 items) (Peacock & Wong, 1990) Ruminative brooding: Ruminative Brooding subscale of Ruminative Responses Scale (5 items) (Treynor, Gonzalez, & Nolen-Hoeksema, 2003) Depression: Depression/Dejejection subscale of Profile of Mood States (8 items) (Shacham, 1983) Social Support: Emotional Support subscale of Informational, Practical, & Emotional Support Scale (3 items) (Caplan et al., 1980) STUDY 2 Optimism: Revised Life Orientation Test (10 items) (Scheier, Carver, & Bridges, 1994) Social Support: Multidimensional Scale of Perceived Social Support (12 items) (Zimet, Dahlem, Zimet, & Farley, 1988) Depression: Depression subscale of Hopkins Symptom Checklist (Derogatis et al., 1974) (10 items) Economic Threat and Depression: The Role of Coping Styles and Dispositions Economic Stress The recent financial crisis has affected individuals world-wide due to high unemployment, stagnating savings, and uncertainty about the future. Young people are particularly affected and experience twice the unemployment rate as individuals. Many students have borrowed money to finance their education but have few job prospects in the future to enable them to repay their loans, resulting in anxiety about their financial situation. Beginning in 2009, our lab at York University embarked on a study investigating the effects of the recession worldwide. We developed a questionnaire consisting of measures of key variables, which was then used by our international collaborators who collected data using the same instrument. We were therefore able to compare reactions to the financial crisis across different countries. Transactional Theory of Stress We adapted Lazarus and Folkman’s (1986) transactional theory of stress to explain how the economic recession has contributed to people’s anxiety and depression (Figure 1). Psychological stress occurs when people appraise their environment as exceeding their resources. When exposed to a potential stressor, people first consider whether or not the stressor threatens their well-being, known as primary appraisal. Then they engage in secondary appraisal, in which various coping options for dealing with the perceived stressor are appraised. Finally, individuals cope in an attempt to deal with the stressor. Rachelle Sass & Esther Greenglass York University, Toronto, Canada* INTRODUCTION The results of these studies have theoretical significance by contributing to stress and coping theory, and particularly the interaction between threat, ruminative brooding, and social support (Study 1). Participants high in ruminative brooding, who also experienced high social support, were found to be less depressed compared to those who had low social support. Further, Study 2 demonstrated the interaction between optimism (T1) and social support (T2) on depression (T2), which supports a step-by-step process wherein greater optimism leads to greater social support, and greater social support leads to lower depression. These results point to interventions which could help people cope and plan more effectively in difficult economic times to lessen their psychological distress. In particular, results point to the importance of developing and maintaining supportive networks during the stressful transition to college or university. RESULTS DISCUSSION Figure 1: Transactional theory of stress model (Lazarus & Folkman, 1986) Figure 2: Moderated mediation results (Study 1) In Study 1, a series of regression equations were performed, which revealed a moderated mediation effect. Ruminative brooding was found to be a partial mediator of economic threat on depression (Figure 2). Social support moderated the effect of ruminative brooding on depression, approaching significance. Study 2 demonstrated that social support at Time 2 mediated the effect of optimism at Time 1 on depression at Time 2 (Figure 3). *Grateful acknowlegment to the Greenglass Lab. For more information contact Rachelle Sass: Figure 3: Mediation results (Study 2) METHOD