economic development and demography

Question 1

what is the total fertility rate?

Answer 1

the average number of children per women throughout her childbearing years (14-49)

Question 2

what is the crude birth rate?

Answer 2

the births per thousand of population

Question 3

what is the crude death rate?

Answer 3

the deaths per thousand

Question 4

what is the infant mortality rate?

Answer 4

infant deaths( age 0-1) per thousand live births

Question 5

what is the life expectancy

Answer 5

expectation of life at birth in years

Question 6

what is the population growth rate?

Answer 6

average annual rate of population change

Question 7

what is the working age

Answer 7

(15-64

Question 8

what are galors growth regimes?

Answer 8

1. malthusian growth regime
   ->technological progress
2. the post malthusian growth regime
   -> demographic transistion
3. the modern growth regime

Question 9

what are the features of the demographic transition?

Answer 9

falling birth rate, falling death rate, improvements in the average global life expectancy, technological progress, falling fertility rate.

Question 10

are children like consumer durables?

Answer 10

Consumer durables yield consumers a stream of utility
Children yield parents a stream of utility
Therefore children have similar characteristics as consumer durables

Question 11

are children like inferior goods?

Answer 11

Inferior goods are those goods that people choose to have less of as their incomes rise
Parents choose to have fewer children as income per capita rises - an empirical stylised fact!

Question 12

what are the benefits to parents of an additional child?

Answer 12

1. consumption Utility
2. income/work utility
3. security utility

Question 13

what is the consumption utility in relation to parenting?

Answer 13

Parents enjoy psychological pleasures from having children
Children yield a stream of utility to parents

Question 14

what is the work utility in relation to parenting?

Answer 14

Child labour has been a feature of all economies during their development

Question 15

what is the security utility in relation to parenting?

Answer 15

the pensions motive

Question 16

what is parental risk aversion?

Answer 16

Because infant and child mortality are high in poor countries a risk averse parent will tend to over procreate
This will be magnified if there is a preference for surviving male children

Question 17

what are the direct costs of additional children?

Answer 17

Feeding, Housing, Schooling, Health

Question 18

what are the indirect costs of additional children>

Answer 18

Opportunity Cost Of Primary Caregivers Time
this is Influenced By: Discrimination, Education, Culture