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Course title |
Family Economics |
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Semester |
109-2 |
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Designated for |
COLLEGE OF SOCIAL SCIENCES GRADUATE INSTITUTE OF ECONOMICS |
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Instructor |
EUNBI KO |
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Curriculum Number |
ECON7062 |
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Curriculum Identity Number |
323EM6860 |
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Class |
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Credits |
3.0 |
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Full/Half
Yr. |
Half |
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Required/
Elective |
Elective |
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Time |
Monday 7,8,9(14:20~17:20) |
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Remarks |
Restriction: MA students and beyond OR Restriction: Ph. D students
The upper limit of the number of students: 30. |
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Ceiba Web Server |
http://ceiba.ntu.edu.tw/1092ECON7062_ |
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Course introduction video |
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Table of Core Capabilities and Curriculum Planning |
Table of Core Capabilities and Curriculum Planning |
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Course Syllabus
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Please respect the intellectual property rights of others and do not copy any of the course information without permission
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Course Description |
This is a graduate course in macroeconomics focusing on the subjects that are determined in family. It also focuses on lifecycle choices of individuals. This course will cover decisions in education such as schooling and vocational training related to human capital accumulation, work and consumption decisions, financial choices, and family formations through marriage and having children. We will look at empirical findings and theories in those topics. |
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Course Objective |
The course aims to expose students to issues related to important family decisions and their macro implications. Individual decisions mentioned above are made by individuals (micro-level), but they will affect macroeconomy through changing the distribution of educational attainment, earnings, savings, and even marriage and birth rates. We can build economic models base on dynamic maximization problems under uncertainties to understand those decisions and use the knowledge to make policy implications. |
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Course Requirement |
待補 |
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Student Workload (expected study time outside of class per week) |
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Office Hours |
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Designated reading |
Topics:
1. Marriage/Formation of Family
- Risk-sharing between partners
- Resource-sharing within a family
- Issues in marriage tax/subsidies
2. Decisions Regarding Having Children
3. Consumption and Savings over Lifetime
- Income profiles and consumption
- Overlapping generations model
- Financial choices
4. Education and Work (Higher Education, Vocational Training)
- Returns to a college education
- Skill heterogeneity, labor market sorting
- Industry/Occupation choices
5. Human Capital Accumulation
- Human capital accumulation by experience, long-term unemployment |
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References |
1. Angus Deaton, “Franco Modigliani and the life-cycle theory of consumption”, BNL Quarterly
Review, 2005
2. Martin Browning and Thomas F. Crossley, “The Life-Cycle Model of Consumption and
Saving”, Journal of Economic Perspectives, 2001
3. Albert Ando and Franco Modigliani, “The “Life Cycle” Hypothesis of Saving: Aggregate
Implications and Tests”, The American Economic Review, 1963
4. John Ameriks, Joseph Briggs, Andrew Caplin, Matthew D. Shapiro, and Christopher Tonetti,
“Long-Term-Care Utility and Late-in-Life Saving”, Journal of Political Economy, 2020
5. Colm Harmon and Hessel Oostrebeek, “The Returns to Education: Macroeconomics”, Journal
of Economic Survey, 2003
6. Eleanor Brown and Howard Kaufold, “Human Capital Accumulation and the Optimal Level
of Unemployment Insurance Provision”, Journal of Labor Economics, 1988
7. Postel-Vinay and Robin, “EquilibriumWage Dispersion with Worker and Employer Heterogeneity”,
Econometrica 2002.
8. Costas Meghir and Luigi Pistaferri, “Earnings, Consumption and Lifecycle Choices”, NBER
Working Paper No. w15914, 2010
9. Bagger, Fontaine, Postel-Vinay, and Robin, “Tenure, Experience, Human Capital andWages:
A Tractable Equilibrium Search Model of Wage Dynamics”, AER, 2014.
10. Burdett and Mortensen, “Wage Differentials, Employer Size and Unemployment”, IER,
1998.
11. Shi, “A Directed Search Model of Inequality with Heterogeneous Skills and Skill-Biased
Technology”, REStud, 2002
12. Gary S. Becker, ”A Theory of Marriage: Part I”, The Journal of Political Economy, 1973
13. Gary S. Becker (1981, Enlarged ed., 1991). “A Treatise on the Family”, Cambridge, MA:
Harvard University Press.
14. Guler, Guvenen, and Violante, “Joint-Search Theory: New Opportunities and New Frictions”,
JME, 2012. |
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Grading |
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