Breadth Objectives. We will discuss three major areas of family economics: a) formation and dissolution of families, b) household production and allocation of resources and c) inequalities within and between families. Students will be able to:
-Identify important changes to the Asian family unit, as well as some of the most important underlying causes
-Explain theories of decision making at the family level
-Illustrate the role of the family in the transmission of social inequality
-Discuss how policies address related social issues from an economic perspective
Depth Objectives. The readings in this module represent some of the most important and influential theories in microeconomics. Students are allocated time to go carefully through these readings and are required to identify at least two questions they have every week, including the extent to which the theories are able to explain and predict actual behaviour. In addition, students will have the chance to choose an area of social policy and to use insights from economics of the family to produce a memo reviewing and evaluating current policies.
-Critically appraise economic models of the family
-Use economic models compatible with empirical analysis to evaluate these policies