Household economics covers the economic analysis of all decisions made by households. The microeconomic foundations of household economics were pioneered by the founders of the New Home Economics (NHE), Gary Becker and Jacob Mincer. All family economics is included in household economics and Becker's Treatise on the Family is therefore a major contribution to both fields. Topics covered include:
consumption and savings
labor supply and allocation of time to household production and leisure
child-related topics: fertility and parental investments in children's wellbeing
the demand for health (part of health economics)
intergenerational relations, including bequests and care of older relatives
household formation via cohabitation, marriage or independent living, including the study of mate selection
divorce and separation
marriage-related transfer payments such as brideprice, dowry, alimony, and child support
financial relations among partners and spouses
Anti-poverty transfers and labor supply in low-income families
intra-household risk sharing, crowding out of household insurance by public insurance policies
macroeconomic applications, including studies related to economic development.
The methods of analyses include market analyses, cost–benefit analyses, experimental analysis, and intra-household bargaining theories.
