Transcript 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
– Economics as CHOICE
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.
Gary Becker
Gary Becker
Gary Becker
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

Marital Status
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
US Women, % Ever Married by Age, 1960, 1980, 2000
100
90
80
Percentage
70
60
1960
50
1980
200
40
30
20
10
0
18-19
20-24
25-29
30-34
Age Group
35-39
40-44
45-54
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
-6.9
+3.5
YEAR
Education 16+
YEARS
Source: Your Text p. 57. Between the years 1970
and 1995
Family Structure
Family Household
 Non-Family Household
 Householder

US Family Type, 1960 2002
87.4
90
76.3
80
70
Percentage
60
50
1960
40
17.7
2002
30
9.8
20
2.7
10
0
Married Couple
Female Householder
Fam ily Type
Male Householder
6
US Family Type with Children Under 18
90.9
100
90
72.2
80
Percentage
70
60
50
1960
40
22.4
2002
30
8.2
20
0.9
5.3
10
0
Married Couple
Female Householder
Family Type
Male Householder
Marriage and Work

The Next set of Tables is from:
The next set of Tables are from:

The next set of tables is from:
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”
Other Issues
Economies of Scale
 Risk Sharing
 Demand and Supply of Marriage
 Female/ Male Ratios

Ratio of Women to Men
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