FAMILY ECONOMICS AND POLICY - 2019/0

Module code: ECO3051

Module Overview

The module examines the nature and behaviour of households in modern economies. The module will introduce a supply and demand model of the marriage market, the analysis of household production and division of labour in the family, gains from marriage, the marriage market, divorce, intra-household bargaining, economics of fertility, and investment in children. The module contains both theoretical and empirical components and will include the interpretation of estimates from econometric analysis.

Module provider

Economics

Module Leader

BLANDEN Joanne (Economics)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 6

JACs code: L110

Module cap (Maximum number of students): N/A

Module Availability

Semester 1

Prerequisites / Co-requisites

None

Module content

Indicative content includes:


  • Analysis of the economic aspects of the family. Development and application of microeconomic tools to the study of households and their interaction in the economy.

  • The marriage market, 

  • Intra-household bargaining; Divorce

  • Fertility; sex ratio and its imbalances

  • Household production and the division of labour

  • Investments in children, in life and through inheritance

  • The impact of state interventions in the family


Assessment pattern

Assessment type Unit of assessment Weighting
School-timetabled exam/test CLASS TEST - ESSAY BASED QUESTIONS - 1 HOUR 15 30
Examination 2 HOUR EXAMINATION 70

Alternative Assessment

Not applicable

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate their understanding of household behaviour and contemporary family policies.

Thus the summative assessment for this module consists of:


  • The coursework will be composed of one in-class test (30%) of multi-part questions. This will provide students with an assessment of their understanding of the basic concepts and empirical patterns, indicated in the learning outcomes and module content.

  • Final exam of two hours consisting of three sections including short-answer questions, a question based on a stimulus (for example, real world data, or an Economist article) and some essay questions.  



Formative assessment and feedback

Students will receive verbal feedback during lectures through direct questioning.

After the class test, the test questions, solutions, and main mistakes will be discussed in class. Each student will receive their own script with comments on their performance and a written marking scheme by question. All this feedback will help students to judge their own performance and prepare for the final exam. In addition, students will be encouraged to attend office hours to receive further verbal feedback.

Module aims

  • provide students with the microeconomic tools needed to analyse fundamental contemporary questions concerning the individuals' behaviour inside and outside the family.
  • help students to understand contemporary issues in economics and public policy concerning the formation and dissolution of families, family decision making, and investments made in children.

Learning outcomes

Attributes Developed
001 Apply economics to fundamental contemporary questions concerning individuals' behaviour inside and outside the family. KCT
002 Apply standard economic principles to the analysis of marriage, divorce, fertility and child-rearing. KCT
003 Describe the main features of, and trends in, the UK household patterns and family policies. KCT
004 Interpret relevant data and empirical findings on household behaviour. KCT
005 Assess appropriate policies for various social problems related to these phenomena. KCT

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Overall student workload

Independent Study Hours: 128

Lecture Hours: 22

Methods of Teaching / Learning

The learning and teaching strategy is designed to:


  • enhance skills in analytical and critical thinking, and in written and verbal presentation

  • appreciate the complexities of decision making, weighing theory and practice



The learning and teaching methods include:


  • 2 hour lectures / classes (including in-class discussions) x 11 weeks.


Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.

Reading list

Reading list for FAMILY ECONOMICS AND POLICY : http://aspire.surrey.ac.uk/modules/eco3051

Programmes this module appears in

Programme Semester Classification Qualifying conditions
Economics BSc (Hons) 1 Optional A weighted aggregate mark of 40% is required to pass the module
Business Economics BSc (Hons) 1 Optional A weighted aggregate mark of 40% is required to pass the module
Economics and Finance BSc (Hons) 1 Optional A weighted aggregate mark of 40% is required to pass the module

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2019/0 academic year.