Besides the things I already commented on, here are a few other things I’d consider:
Setting a fixed with makes the nodes having them the same width but also creates problem for very long words in the itemize environment. In addition to that the itemize environment introduces a rather high horizontal white space in front of the bullet. (Similar things happen in Saving a list in a re-usable box.)
I would avoid itemize and reproduce the behavior with a simply tabular environment (see my answer on the linked question) which inserts the bullet on its own.
For a more pleasing output I center the first line (kind of a header, isn’t it?) and add additional vertical space. The rectangle split shape might help here.
The needed options are:
shape=rectangle split,
rectangle split parts=2: we want two parts,
rectangle split part align={center,left}: the first part is centered, the second part is left-aligned.
rectangle split draw splits=false: by default the shape has lines between the separate parts, this disables them.
In the second example, I have used my positioning-plus library to place the psych and the FGID node vertically centered to the other nodes.
The first example needs the positioning library (which is loaded by positioning-plus so it is not loaded explicitly).
Code
\documentclass{beamer}
\usepackage{tikz,array}
\usetikzlibrary{positioning-plus,arrows,shapes.multipart}
\tikzset{
block/.style={
shape=rectangle split,
draw,
rectangle split part align={center,left},
rectangle split parts=2,
rectangle split draw splits=false},
Circle/.style={shape=circle, draw, align=left}}
\newcommand*{\itemizeTabular}[2][l]{%
\begin{tabular}{!{\kern\tabcolsep\usebeamertemplate{itemize item}}#1@{}}#2\end{tabular}}
\begin{document}
\begin{frame}\centering
\begin{tikzpicture}[auto, thick, >=stealth]
\node[block] (child) {%
Early life\nodepart{two}
\itemizeTabular{Genetic\\Environmental}};
\node[block, right=of child] (psych) {%
Psychoscial factors\nodepart{two}
\itemizeTabular{life stress\\Psychological stress\\coping\\social support}};
\node[block, below=of psych] (phys) {%
Physiology\nodepart{two}
\itemizeTabular{Motility\\Sensation\\Inflammation\\Altered bacterial\\flora}};
\node[Circle, right=of phys](FGID) {FGID};
\path[->] (child) edge (psych)
edge (phys);
\path[<->] (psych) edge (phys)
edge (FGID)
(phys) edge (FGID);
\end{tikzpicture}
\end{frame}
\begin{frame}\centering
\begin{tikzpicture}[auto, thick, >=stealth]
\node[block] (psych) {%
Psychoscial factors\nodepart{two}
\itemizeTabular{life stress\\Psychological stress\\coping\\social support}};
\node[block, below=of psych] (phys) {%
Physiology\nodepart{two}
\itemizeTabular{Motility\\Sensation\\Inflammation\\Altered bacterial\\flora}};
\node[block,left=of (phys)(psych)] (child) {%
Early life\nodepart{two}
\itemizeTabular{Genetic\\Environmental}};
\node[Circle, right=of (phys)(psych)](FGID) {FGID};
\path[->] (child) edge (psych)
edge (phys);
\path[<->] (psych) edge (phys)
edge (FGID)
(phys) edge (FGID);
\end{tikzpicture}
\end{frame}
\end{document}
Output


circlewhich uses the shapecircle. Either use a different name or or usecircle/.style={shape=circle}. Also relevant: Should \tikzset or \tikzstyle be used to define TikZ styles? and Difference between "right of=" and "right=of" in PGF/TikZ.\largedoesn’t take an argument, the correct use would be{\large Physoscial factors}.<-->isn’t correct. (Do you mean<->?) – Qrrbrbirlbel Aug 09 '13 at 17:41