Introduction

In this site you can find materials for the undergraduate course Human Capital and the Economy that I teach at the University of Chicago. The course is inspired by and adapted from Gary Becker's PhD course. You can find Becker's 2010 lectures on YouTube. Link below.

Course contents

1. Definition of human capital  

Becker, G.S., 1992. Human capital and the economy. Proceedings of the American Philosophical Society, 136(1), pp.85-92.

Slides

2. Parental investment

Becker, G.S. and Tomes, N., 1986. Human capital and the rise and fall of families. Journal of Labor Economics, 4(3, Part 2), pp.S1-S39.

Becker, G.S., Kominers, S.D., Murphy, K.M. and Spenkuch, J.L., 2018. A theory of intergenerational mobility. Journal of Political Economy, 126(S1), pp.S7-S25.

Slides

Practice problem

3. Family technology

Becker, G.S. and Tomes, N., 1986. Human capital and the rise and fall of families. Journal of Labor Economics, 4(3, Part 2), pp.S1-S39.

Slides

Practice problem

4. Nature versus Nurture

Becker, G.S. and Tomes, N., 1986. Human capital and the rise and fall of families. Journal of Labor Economics, 4(3, Part 2), pp.S1-S39.

Slides

Practice problem

5. Old age

Becker, G.S., Murphy, K.M. and Spenkuch, J.L., 2016. The manipulation of children’s preferences, old-age support, and investment in children’s human capital. Journal of Labor Economics, 34(S2), pp.S3-S30.

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Practice problem

6. Adulthood

Becker, G.S., 1962. Investment in human capital: A theoretical analysis. Journal of Political Economy, 70(5, Part 2), pp.9-49.

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Practice problem

7. Health

Becker, G.S., 2007. Health as human capital: synthesis and extensions. Oxford economic papers, 59(3), pp.379-410. 

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Practice problem

8. Marriage

Becker, G.S., 1965. A Theory of the Allocation of Time. The Economic Journal, pp.493-517.

Becker, G.S., 1973. A theory of marriage: Part I. Journal of Political economy, 81(4), pp.813-846.

Becker, G.S. 1996. Spouses and Beggars: Love and Sympathy, in Accounting for Tastes, Ch. 12.

Slides

Problem set

9. Fertility

Becker, G.S. and Lewis, H.G., 1973. On the Interaction between the Quantity and Quality of Children. Journal of Political Economy, 81(2, Part 2), pp.S279-S288.

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Practice problem

10. Tastes

Stigler, G.J. and Becker, G.S., 1977. De gustibus non est disputandum. The American Economic Review, 67(2), pp.76-90.

Becker, G.S. and Mulligan, C.B., 1997. The endogenous determination of time preference. The Quarterly Journal of Economics, 112(3), pp.729-758.

Slides

Practice problem

11. Specialization

Becker, G.S., 1985. Human capital, effort, and the sexual division of labor. Journal of Labor Economics, 3(1, Part 2), pp.S33-S58.

Becker, G.S. and Murphy, K.M., 1992. The division of labor, coordination costs, and knowledge. The Quarterly Journal of Economics, 107(4), pp.1137-1160.

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Practice problem

12. Economic growth

Becker, G.S., Murphy, K.M. and Tamura, R., 1990. Human capital, fertility, and economic growth. Journal of Political Economy, 98(5, Part 2), pp.S12-S37.

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Practice problem

13. What's next?

Rayo, L. and Becker, G.S., 2007. Habits, peers, and happiness: an evolutionary perspective. American Economic Review, 97(2), pp.487-491.

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Practice problem