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Homework 4 – ECON 471

1. The article “China’s Population: Peak Toil,” describes how the number of working-age Chinese has started to fall. Please describe what is likely to happen to the dependency ratio and how China might temporarily surmount this challenge. (10 points)

2. From the same article, “affluence and education” is described as “the best contraceptive.” Why is this? Please use an economic concept in your answer. (10 points)

3. How does the article “Fertility Decline, the Demographic Dividend, Poverty and Inequality: Demography and Inequality” extend the material of this lesson? (10 points)

4. The article “Gender Inequality: Growth is Not Enough” describes how some 4 million women go missing each year (the article is not clear on the per year part, but a check of the 2011 World Development Report, on which this article is based, will confirm this). What accounts for this? (10 points)

5. Using the previous article, what would happen to TFR and BR if women and girls were no longer missing? (10 points)

6. In the Gapminder World tool, use the menu on the right side to select the “Four Tigers” (Hong Kong and Taiwan might not be available) as well as Japan and Uganda. You might want to set “opacity” (the slider under the country list) to the far left to make other countries disappear. Please keep the horizontal axis as-is but on the vertical axis select “Population > Children and elderly (per 100 adults),” which is the dependency ratio. After this is set up, press the “Play” button at the bottom-left to view their change over time. Describe their behavior over the years and what concept this illustrates. (10 points)

7. Reset the Gapminder World tool. Do not select any countries. We will now be analyzing all countries and by default, all countries are automatically selected after the tool is reset. On the horizontal axis select “Population > Population growth > Crude death rate (deaths per 1,000 population)” and on the vertical axis select “Population > Population growth > Crude birth rate (births per 1,000 population).” After this is set up, press the “Play” button. What does the resulting animation illustrate? Do the changes you see happen at the same times? (10 points)

8. Reset Gapminder World again. Do not select any countries, we will be analyzing all countries again. On the vertical axis select “Education > Gender equality > Ratio of girls to boys in primary and secondary education (%)” and on the horizontal axis select “Population > Population growth > Crude birth rate (births per 1,000 population).” After this is set up, press the “Play” button. What does this animation illustrate? (10 points)

9. If two countries steady state level of per capita income was described by the Solow model and they had the same values for γ, α and δ but different values for n, what would their ratio of per capita income be? (10 points)

10. Two countries, A and B, differ in population growth rates and rates of investment. Country A has an investment rate of 10% of GDP and a population growth rate of 1% per year, while country B has an investment rate of 20% of GDP and its population grows at 4% per year. Both countries have the same rate of depreciation of 5% and α = 1/3. Use the Solow model to calculate the ratio of their steady state levels of income per capita. How can you explain the result? (10 points)