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Household economics analyses all the decisions made by a household. These analyses are both at the microeconomic and macroeconomic level. This field analyses the structures of households, the behavior of family members, and their broader influence on society, including: household consumption, division of labour within the household, allocation of time to household production, marriage, divorce ...
In sociology, household work strategy (a term coined by Ray Pahl in his 1984 book, Divisions of Labour) [13] [14] is the division of labour among members of a household. Household work strategies vary over the life cycle as household members age, or with the economic environment; they may be imposed by one person, or be decided collectively. [15]
Sociology of the family is a subfield of sociology in which researchers and academics study family structure as a social institution and unit of socialization from various sociological perspectives. It can be seen as an example of patterned social relations and group dynamics. [1]
Family economics applies economic concepts such as production, division of labor, distribution, and decision making to the family. It is used to explain outcomes unique to family—such as marriage, the decision to have children, fertility, time devoted to domestic production, and dowry payments using economic analysis.
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
The family was also important because birth, family ties, and local custom determined economic status in communities. [2] They describe the family as a "productive unit" and state that physical strength was an essential element in survival. [2] The family economic unit has always been dependent on specialized labor done by family
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Jeremy Greenwood, Professor of economics at the University of Pennsylvania has explored how technological progress has affected the family. In particular, he discusses how technological advance has led to more married women working, a decline in fertility, an increase in the number of single households, social change, longer lifespans, and a ...