Case Study on Baby Baubles and Opportunity Costportunity Cost (Essay Sample)
Here are the instructions for the essay, and the supporting article and the rubric will be attached.
After you identify the topic, you will need to read through the selected article carefully and think about connections between the case and the subject that you learned in class. Discuss your opinion by applying microeconomic theory and concepts to the case. Key words are listed below each topic.
1. Baby baubles and opportunity costs (Ch 1).
“To those of us of an economical bent, this is clearly a story about opportunity cost. Once women are set on a more or less equal footing with men and liberated to plan careers and form aspirations for lives beyond the home and family, the choice to become pregnant and give birth entails more alternatives to forgo--a weighter cost. According to the Times, many women consider their new child sufficient compensation, but then very many do not.”
Key words: Opportunity cost; female labor market participation
Baby Baubles and Opportunity Cost
Historically, women have often been marginalized in the community. They were not afforded equal rights to men. They were denied voting rights and a chance to advance in their careers. Today's women have been liberated, and they have the same rights as men. The time is right to be a female. This can be attributed to the women empowerment groups in the community and civil rights groups which champion for women's rights. Women are now being treated as men equals, and this has afforded them an opportunity to advance their careers. Organizations have developed more mature policies to address harassment at the workplace, equal pay as well as gender inequality. Women can now enter the workforce and be expected to work at the same level as men or even surpass them. Women are increasingly getting prominent roles in the workplace and better pay. Women today are being paid better salaries and wages relative to their male counterparts than their mothers and grandmothers used to be paid. The advancement of women in the career ladder has left them with a hard choice to make. They now have to choose between their careers or childbearing or strive to strike a balance between the two. They are faced with having to give up their careers by having to take time off to care for their children. If they end up taking time to take care of their children, it may end up hurting their careers. This is a choice they have to carefully consider before making a decision. Losing their careers is the opportunity cost for childbearing for today's career woman. Statistics show that women are more likely to say that taking time off their jobs to take care of a family member hurt their careers more than men do, (Madowitz, 2016). This paper examines the opportunity cost faced by career women in having babies.
College education has had an impact on fertility. More women are now going to college in comparison to earlier years. Higher education affects the career aspiration of women, family roles, labor market involvement, and fertility. There is a demographic divide between highly educated women and the less educated in the United States. More women are going to college from a background where previously they were not. Most women who are highly educated delay their time of childbearing. They end up having fewer children than women who are less educated. Opportunity cost plays an important role in this scenario. In making a family as well as career decisions, women have to weigh some competing factors. Childbearing and college education place a demand on the energy, commitment and time of college-going women, (Teghtsoonian, 1997). These demands compete owing to the incompatibility between having quality education and childbearing. College-going women will more often than not choose education over childbearing. In doing so, they weigh the pros and cons of making either of the two choices to choose what will bring more gains than the other. Higher education will guarantee them a high standing in society. This will make them command more respect than their uneducated counterparts. A college education will also boost their chances of getting a better job when they enter the labor market. With a better job come higher wages and salaries. This will i
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