||Theory of advertising: economics and psychology deals with elementary principles of our discipline. It applies to fundamental principles of general psychology and theoretical microeconomics. Author does not mention the aspects of advertising campaign in practice, its impacts and tests of fruitfulness deliberately. Step by step he devotes historical evolution, imperialism of advertising, looking for optimum advertising costs of firm. Other themes are sponsorship, advertising in CPE and, mainly, human factor and rationality of individuals, process of learning and specific behavior as snobbery, effects of crowd or native ability.