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Family Economics - ECO00079M

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  • Department: Economics and Related Studies
  • Module co-ordinator: Mr. Simon Weber
  • Credit value: 10 credits
  • Credit level: M
  • Academic year of delivery: 2021-22
    • See module specification for other years: 2022-23

Module summary

This module aims to give you a solid grounding in family economics at the graduate level.

The module is structured under the following three topics: 

1. Facts

(a) Marriage, divorce and remarriage

(b) Labour supply and time use

(c) Marriage patterns

(d) Fertility

2. Models of household behavior and household formation 

(a) The unitary model

(b) Collective models

(c) Matching models

3. Structural estimation

(a) Preliminaries: Linear programming.

(b) Preliminaries: Convex analysis.

(c) Preliminaries: Programming with Matlab and Julia.

(d) Non parametric approaches (revealed preferences, etc)

(e) Parametric approaches

Module will run

Occurrence Teaching period
A Spring Term 2021-22

Module aims

This module's objectives would be threefold.

  1. Provide the students with a solid theoretical foundation on the economics of the family. The course would cover the unitary models a-la-Becker, collective models, and matching models of the marriage market.

  2. Introduce the students to structural estimation in the field of family economics. We would cover both the parametric and nonparametric (e.g. revealed preferences) approaches to estimating these models. We would apply these techniques to estimate collective models (sharing rules, etc) and matching models of the marriage market (marital preferences, measures of assortativeness, etc).

  3. Discuss programming and computational challenges pertaining to the estimation of these models, and familiarize the students (if needed) to programming languages such as Matlab or Julia.

Module learning outcomes

Upon completing this module, students should be able to:

 

  1. Understand and critically analyze various kinds of household decision making models

  2. Learn and apply the related structural estimation techniques on household data

  3. Identify areas where further research needs to be done, and where it might have a good chance of making progress given current knowledge.

Indicative assessment

Task Length % of module mark
Essay/coursework
Short Research Project / Critical Review		 N/A 100

Special assessment rules

None

Indicative reassessment

Task Length % of module mark
Essay/coursework
Short Research Project / Critical Review		 N/A 100

Module feedback

Written feedback within 20 working days will be provided in accordance with the University Policy on Assessment Feedback and Turnaround Time.

Indicative reading

  1. Browning, Martin, Pierre-André Chiappori, and Yoram Weiss. Economics of the Family. Cambridge University Press, 2014.

  2. Chiappori, Pierre-André. Matching with transfers: The economics of love and marriage. Princeton University Press, 2017.


The information on this page is indicative of the module that is currently on offer. The University constantly explores ways to enhance and improve its degree programmes and therefore reserves the right to make variations to the content and method of delivery of modules, and to discontinue modules, if such action is reasonably considered to be necessary. In some instances it may be appropriate for the University to notify and consult with affected students about module changes in accordance with the University's policy on the Approval of Modifications to Existing Taught Programmes of Study.