lecture1_Aug31_slides

lecture1_Aug31_slides - Economics of Poverty and...

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August 31, 2011 1 Economics of Poverty and Discrimination
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Course Introduction n “The main purpose of economics is to understand  and alleviate poverty” -Gary Becker, 1996 n Who lives in poverty? n What are the causes of poverty? n What policies does the US use to address poverty? n How does discrimination contribute to poverty?
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POOR OR NOT?: SCENARIO A  n A couple in their early 20s share a room in a group  apartment. The husband works for McDonald s for  $14,000 per year.  The wife has been unemployed  for over a year, and recently gave up looking for  work. n Would your answer change if the wife was  unemployed because she is a law student and  expects to have a well-paying job after finishing her  degree?
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POOR OR NOT?: SCENARIO B n An eighty-year-old widow has lived for 60 years in a  house that is now worth $600,000. She lives primarily off  of Social Security, which is barely adequate to pay the 
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lecture1_Aug31_slides - Economics of Poverty and...

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