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

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. Marital Status Married, Spouse Present (%) Never Married (%) Divorced/ Separated (%) 200250.524.713.2 199053.322..811.8 198055.422.49.4 197058.422.15.7 196063.017.85.0 195066.818.82.4

10. 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

11. Family Structure Family Household Non-Family Household Householder

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

15. The next set of Tables are from: The next set of tables is from:

22. 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”

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

25. Ratio of Women to Men AgeAllWhiteBlack Hispanic 20-249998117116 25-2910096125120 30-3498 125108 35-399899125117 Source your Text p. 90