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Transcript of Family1
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Economics of Gender, Race, Family
Victoria Vernon, Ph.DEmpire State College
Lesson 1: Trends, Definitions
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Changes for Women, 1960-2000
0
20
40
60
80
100
120
140
% wom enever
m arried, 20-24
% Singlem otherfam lies
births per1000
wom en, 15-44
% births tounm arried
wom en
% m arriedwom enworking
ratio ofwom ens
earnings tom ens
earnings
% B.A.degreesgoing towom en
1960
2000
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Changes for Men, 1960-2000
0
20
40
60
80
100
120
140
% m en everm arried, 20-
24
% Singlefather
fam lies
% m arriedm en
working
1960
2000
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8.9
22.8 20
0
5
10
15
20
25
1958 1982 2000
Divorces per 1000 Marriages
16.7 in 2005
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Median Age of 1st Marriage
15
20
25
30
1890 1910 1930 1950 1970 1990
Males Females
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What is Economics?Economics studies human behavior
Central question of Economics :How do we allocate LIMITED RESOURCES
to satisfy the most pressing of our UNLIMITED WANTS?
• Limited– Money– Time– Effort
We can’t always get everything we want
How do we make choices over alternatives?
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Every Choice Has a CostOPPORTUNITY COST=
value of best alternative foregone 1. OC of taking 1 hour off work = lost hourly wage (ex:$20)
2. OK of being a full time mother for a year =
lost income and work experience (ex: $90,000)
Find opportunity cost of : 1. Taking this course2. Watching TV for 3 hours 3. Oprah Winfrey’s week of vacation4. Spending $ 200 on a pair of shoes
“Whatever is worth doing is worth doing well.” Always?
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How do we make choices?• People are SELF-interested
– Maximize our own joy, happiness, UTILITY=subjective measure of joy, pleasure,
happiness, satisfaction from consuming goods/services
• People are RATIONAL– respond to incentives– compare COSTS and BENEFITS of alternatives,
select one with highest NET BENEFITS Examples of decisions:
Buy coffee or tea?Get married or not?Spend evening at home, rent a movie, or go to a show?
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Rational decision example: Go to college?
• Benefits:–higher future income: $100,000– lower insurance rates: $10,000–better health: $50,000–other ?
Total benefits : $160,000
Benefits> Costs
• Costs:– tuition, books: $20,000– lost income: $100,000
Total cost: $120,000
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Labor Force Participation Rate
LFPR =Number of people in the labor force (those working or looking for work)
Noninstitutionalized working age (age 16 and older)
population
* 100%
For example, in February 2007:
LFPR = 152,784,000
230,834,000* 100% = 66.2%
Labor force = employed + unemployedUnemployed = people actively looking for work
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employed62%unempl.
4%
not in LF34%
Civilian Noninstitutional Population, 16+September 2004
NOT in the labor force• children• disabled• retired• housewives/househusbands• full time students• unemployed, not looking for work (discouraged workers)
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Labor Force Participation Rates
0102030405060708090
100
Par
tici
pati
on R
ate
(%)
Males Females All
0
50
100
150
200
250
300
350
Mill
ions
of P
erso
ns
Population Labor Force
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LFP of Married Women, 16+
16.724.8
31.7
41.450
58.4 61.3
0
10
20
30
40
50
60
70
1940 1950 1960 1970 1980 1990 2000
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Historical Experience of College Women• Research by Goldin:
– Family and work experiences of college-educated throughout 1st half of 20th century.
• For that 1st birth cohort:– For both men and women, college rare around year 1900– For women: very rare to combine work and family.– 1/3 of women who went to college never married.– Nearly half never had kids (including ¼ who did marry).– Occupations: 60% school teachers.
• As move forward by cohort: college-educated women more and more likely to marry and have kids.
• Choices then and now:– First: work or family.– Then: work and family.– Now : career then family.