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2012/2013  KAN-CM_N76  Household Economics

English Title
Household Economics

Course information

Language English
Exam ECTS 7.5 ECTS
Type Elective
Level Full Degree Master
Duration One Quarter
Course period Third Quarter
Changes in course schedule may occur
Wednesday 08.00-09.40, week 6-13
Thursday 08.00-09.40, week 6-12
Time Table Please see course schedule at e-Campus
Study board
Study Board for MSc in Economics and Business Administration
Course coordinator
  • Natalia Khorunzhina - Department of Economics
Main Category of the Course
  • Economics, macro economics and managerial economics
Last updated on 17-10-2012
Learning objectives
After completing this course the students should be able to:
  • Understand the concepts and theories of modern household economics discipline
  • Understand the mechanism of decision making on the level of households
  • Apply analytical tools used in household economics
  • Interpret the results of economic models
  • Communicate their research
The course assumes familiarity and completed bachelor courses in microeconomics, financial theory and basic econometrics.
Individual project followed by oral defense:
Type of test Oral with Written Assignment
Marking scale 7-step scale
Second examiner Second internal examiner
Exam period Spring Term and Summer Term
Aids Please, see the detailed regulations below
Duration Please, see the detailed regulations below
Students are expected to write a small individual paper as an examination requirement.

The students will be assessed by an individual project: a research paper.  The maximum size of the paper is 10 A4 pages.  The paper is evaluated by both teachers.
The students will have to defend their project at an oral defense.
Prerequisites for attending the exam
Students are expected to write a small individual paper as an examination requirement.
Course content
This is an advanced level course that aims to equip you with major theories and tools of the modern, developing study of household economics. Households make both every day and long term choices over consumption and savings; they invest in housing; they interact with financial institutions regarding loans and mortgages; they often make economic and financial choices facing constraints on their ability to borrow; they are subject to complex taxation. Last but not least, households carry an important non-tradable asset - human capital, which makes household’s labor supply, intra-household bargaining, and optimal career planning to be among the important issues of many economic policies and programs. All these include the topics to be covered in the course. The course is organized as a collection of the modern research-based topics on household economics that will be supported by related case studies.
Course material consists of a series of research papers made available online.
The course’s development of personal competences: 
During the course, students will develop both the empirical and theoretical skills necessary to analyze and understand how different household’s characteristics affect household’s decisions
Teaching methods
Student workload
SAT 225 hours
Expected literature
Becker, Gary, “The Economic Approach to Human Behavior”, Chicago: University of Chicago Press, 1976.
Campbell, John Y. "Household Finance," Journal of Finance, 2006, v61(4,Aug), 1553-1604.
Handbook of Population and Family Economics, Amsterdam: North-Holland Publishing Company, 1997, 125-187.
 “Household Portfolios” by Guiso, Haliassos, and Jappelli, Cambridge, MA: MIT Press.
Last updated on 17-10-2012