Household Production: An

Analysis of the Role of Women

in Gross Domestic Product

By: Amy Russ

Advisor: Dr. Cassandra
Copeland
Index
 Review Household Production
Presentation: Then vs. Now
 New Definition
 Social views
 Cost/Benefits
 Models
 Important variables
 Connections to each other
 Findings
Review Household Production
Costs/Benefits
 Costs
 Time
 Opportunity costs
 Benefits
 Social economic policies
 Well-being
Models
 Gary Becker Model
 Opportunity Costs Model
 Market Valuation Model
Gary Becker Model
 H=f(T, M, C, Hu)
 Where T=time, M=money, C=commodities,
and Hu=human capital

 Connection between variables

 Time and Money
 Commodity and Human capital
Opportunity Costs Model
 H=f(Y, T, M, C, Hu)
 where Y=list of vector variables, then, Y=f(age,
education, household size, work experience…),
T=time, M=money, C=commodities, and
Hu=human capital
 Connection between Variables
 New variable Y
Market Valuation Model
 H=f(T, M, C, Hu)
 where T=time, M=money, C=commodities, and
Hu=human capital

 Connection between Variables

Findings
 Changing role of women in society
 Which model best measures household
production as supported by the
research?
 Opportunity costs model
 Why?
Should Household Production
be Included in GDP?