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Marriage and the Family: An Economic Approach

Marriage and the Family: An Economic Approach. Chapter 3 Part II. Chapter 3 Part II (continuation). There are a variety of Reasons Why Economists have undertaking the study of marriage: Marriage is a central feature in a women’s live (man) Family is an Important Institution

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Marriage and the Family: An Economic Approach

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  1. Marriage and the Family: An Economic Approach Chapter 3 Part II

  2. Chapter 3 Part II (continuation) • There are a variety of Reasons Why Economists have undertaking the study of marriage: • Marriage is a central feature in a women’s live (man) • Family is an Important Institution • Economics as CHOICE

  3. Chapter 3 Part II (continuation) • There are a variety of Reasons Why Economists have undertaking the study of marriage (continuation): • Marriage is a Miniature Economy • Economics can bring different perspective to the study a Marriage.

  4. Gary Becker

  5. Gary Becker

  6. Gary Becker

  7. Marital Status • Next Table from your Text, p. 55 • Data is for Women Age 15 and older • Data for 1950 and 1960 is adjusted due to the fact that age included 14 and older • Data source is Current Population Reports

  8. Married, Spouse Present (%) Never Married (%) Divorced/ Separated (%) 2002 50.5 24.7 13.2 1990 53.3 22..8 11.8 1980 55.4 22.4 9.4 1970 58.4 22.1 5.7 1960 63.0 17.8 5.0 1950 66.8 18.8 2.4 Marital Status

  9. YEAR MARRIED, SPOUSE PRESENT NEVER MARRIED ALL WOMEN -12.5 +7.3 Age 25-34 -23.0 +18.0 Education <12 years -17.5 +10.0 Education 16+ YEARS -6.9 +3.5 Source: Your Text p. 57. Between the years 1970 and 1995

  10. Family Structure • Family Household • Non-Family Household • Householder

  11. Marriage and Work • The Next set of Tables is from:

  12. The next set of Tables are from: • The next set of tables is from:

  13. Principle Agent • Principle-Agent Problem • Exists when the agent doesn’t fully do what the principal want him/her to do • The interest of the principle and the agen are generally very different • Problem in usually “knowledge”

  14. Other Issues • Economies of Scale • Risk Sharing • Demand and Supply of Marriage • Female/ Male Ratios

  15. Age All White Black Hispanic 20-24 99 98 117 116 25-29 100 96 125 120 30-34 98 98 125 108 35-39 98 99 125 117 Source your Text p. 90 Ratio of Women to Men

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