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% Document Info
\author{carol2008}
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  /Title (econ-175.pdf)
  /Creator (Cheatography)
  /Author (carol2008)
  /Subject (Econ 175 Cheat Sheet)
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\noindent
\begin{multicols}{3}
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    {\parbox{\dimexpr\textwidth-2\fboxsep\relax}{\noindent
        \hspace*{-6pt}\includegraphics[width=5.8cm]{/web/www.cheatography.com/public/images/cheatography_logo.pdf}}
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\begin{tabulary}{11cm}{L}
    \vspace{-2pt}\large{\bf{\textcolor{DarkBackground}{\textrm{Econ 175 Cheat Sheet}}}} \\
    \normalsize{by \textcolor{DarkBackground}{carol2008} via \textcolor{DarkBackground}{\uline{cheatography.com/79007/cs/19225/}}}
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\noindent
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  \mymulticolumn{2}{p{5.377cm}}{\bf\textcolor{white}{Cheatographer}}  \\
  \vspace{-2pt}carol2008 \\
  \uline{cheatography.com/carol2008} \\
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  \mymulticolumn{1}{p{5.377cm}}{\bf\textcolor{white}{Cheat Sheet}}  \\
   \vspace{-2pt}Not Yet Published.\\
   Updated 10th April, 2019.\\
   Page {\thepage} of \pageref{LastPage}.
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  Measure your website readability!\\
  www.readability-score.com
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\begin{document}
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\begin{multicols*}{3}

\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{OC Fertility Model(app cost)}}  \tn
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\mymulticolumn{1}{p{5.377cm}}{\vspace{1px}\centerline{\includegraphics[width=5.1cm]{/web/www.cheatography.com/public/uploads/carol2008_1553919162_Picture1.png}}} \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{X: Goods (p=1) \newline p: cost/kid \newline w:salary \newline c:time/kid \newline N: \# of kids \newline T: total time ( T=L+cN) \newline I:other income}  \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}-}
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\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{2.4885 cm} x{2.4885 cm} }
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\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Change variables}}  \tn
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change I & change W(increase) \tn 
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% Row 1
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Effect: 1.consume more X and N. 2. curve shift up 3. slope unchanged & Effect: 1.effect on N is ambiguous. 2. slope changes. 3. 2 effect evolved.(1)income: more N.(more \$ can spend on fixed cost of kids) 2. substitute: less N(OC cost of kids increase) \tn 
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\hhline{>{\arrayrulecolor{DarkBackground}}--}
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\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{p{0.4977 cm} p{0.4977 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{income VS substitution effect}}  \tn
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\mymulticolumn{2}{x{5.377cm}}{a} \tn 
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\hhline{>{\arrayrulecolor{DarkBackground}}--}
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\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{2.14011 cm} x{2.83689 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Why marry? Who marry who?(Lab10)}}  \tn
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Odds ratio & 1: neutral.  no positive or negative sorting \tn 
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(F{[}1,1{]}{\emph{F{[}2,2{]})/(F{[}1,2{]}}}F{[}2,1{]} & 2. A value close to 0 : very negative sorting; \tn 
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% Row 2
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 & 3. high values (10, 100+) , very positive sorting. \tn 
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\hhline{>{\arrayrulecolor{DarkBackground}}--}
\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{Why called the odds-ratio: \newline The numerator is the odds of being in cell {[}1,1{]} compared to {[}1,2{]}, and the \newline denominator is odds of being in cell {[}2,1{]} compared to {[}2,2{]}. \newline  If there were no tendency to marry one sex rather than the other, the odds of \newline marrying a "male" would be the same for females and males and the \newline ratio would be 1.}  \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}--}
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\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{p{0.4977 cm} p{0.4977 cm} }
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\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Becker's QQ fertility model}}  \tn
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\mymulticolumn{2}{x{5.377cm}}{Utility: U = U(X, n, q)} \tn 
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\mymulticolumn{2}{x{5.377cm}}{Constrain:X + p`c`qn = I} \tn 
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% Row 2
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\mymulticolumn{2}{x{5.377cm}}{n=(I-x)/(qp`c`)} \tn 
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\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{goods (X) \newline  number of kids (n)  \newline "higher quality" child (q) \newline I:total income}  \tn 
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\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{X}
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Graphing Budget constraint}}  \tn
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\begin{tabularx}{5.377cm}{X}
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Interaction between q and q}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{Total child costs = p`n`n +p`q`q + p`c`qn} \tn 
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\mymulticolumn{1}{x{5.377cm}}{p`n` per child price (of any quality) (pregnancy, -contraception, ...)} \tn 
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\mymulticolumn{1}{x{5.377cm}}{p`q` per quality price (independent of n) (a set of encyclopedias, ...)} \tn 
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\mymulticolumn{1}{x{5.377cm}}{p`c` price depending on q \& N (school fees, visits to doctor, new shoes, ...)} \tn 
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\mymulticolumn{1}{x{5.377cm}}{How much does it cost to increase n by +1?} \tn 
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\mymulticolumn{1}{x{5.377cm}}{πn∼ p`n`+p`c`q} \tn 
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\mymulticolumn{1}{x{5.377cm}}{How much does it cost to increase q by +1?} \tn 
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\mymulticolumn{1}{x{5.377cm}}{πq∼ p`q`+p`c`n} \tn 
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\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{reason for low fertility rate: \newline (1) costs of contraception fall – causing n to go down because fewer unintended births. \newline (2) Price of a unit of quality goes down too – and people purchase more q. \newline (3) But price per child goes up. This has a further negative effect on the number of kids, n. \newline (4) Which can result in further increases in q and further declines in n until a new equilibrium is reached}  \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}-}
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\begin{tabularx}{5.377cm}{X}
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{why fertility decline irreversibility?}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{} \tn 
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\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{Fertility generally falling over time as wages rise \newline • Puzzle: why in economic crisis doesn't fertility rise again – as wages go down? \newline • Possible answer: \newline – Norms about child quality appear fairly irreversible. \newline – So to reduce pcqn, parents reduce n}  \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{X}
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Summary (1)}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{Quantity-quality interaction good for explaining demographic transition (rapid, big fertility declines) • Cost-of-time model good for explaining more recent trends, especially as female wages rise • Can combine two models} \tn 
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\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{p{0.4977 cm} p{0.4977 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Summary (2)}}  \tn
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\mymulticolumn{2}{x{5.377cm}}{} \tn 
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\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{Answers to puzzle of how fertility could fall with economic growth \newline 1. It doesn't (because income effect dominates) \newline 2. It does, substitution effect (cost of time) dominates \newline 3. Parents get utility from quality, too. And so once fertility starts falling, big shifts \newline toward quality. \newline 20}  \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{2.4885 cm} x{2.4885 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Becker's theory of "gains to marriage"}}  \tn
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\mymulticolumn{2}{x{5.377cm}}{gains:come from comparative advantage} \tn 
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1.economies of scale & ES:Easier and cheaper to vacuum 2 rooms \tn 
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2.household public goods & PG:A clean house, magazines \tn 
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3.K:own-children & Biological children,provide utility to both parents \tn 
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4.K: can build marriage-specific capital & partners. {\bf{Important point: a contract (to stay together) provides incentive to invest in marriage-specific capital. Risky without contract.}} \tn 
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% Row 5
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\mymulticolumn{2}{x{5.377cm}}{Comparative Advantage vs Production possibility frontiers} \tn 
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\hhline{>{\arrayrulecolor{DarkBackground}}--}
\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{why not just live with roommates? \newline 1.own children \newline 2.Marriage contract}  \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}


% That's all folks
\end{multicols*}

\end{document}