Economics at Home and Prices Increase after Disasters

MACROECONOMICS
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Chapter 3
In my family, I do not think that tasks or house chores are divided among family members based on the economic principle of comparative advantage. Emily Oster’s “You-re Dividing the Chores Wrong” shows that women end up undertaking more house chores than men in marriages. Females are better in multitasking than males. For instance, Oster asserts that before she gave birth to her daughter, she cooked and washed the dishes simultaneously. She performed more activities in the house more efficiently than her husband. However, it did not mean that she had to do everything. Similarly, in my family, my mother undertakes more house chores than my father. In contrast, my father does more when it comes to maintaining the exterior of the house and he is good at it.
Oster has introduced essential economic concepts of absolute and comparative advantages. Absolute advantage means that people should do everything even if they are not the best. On the contrary, comparative advantage shows that individuals should do what they are best in1. When it comes to improving tasks allocation in my family, comparative advantage can significantly help. The best way to do it is by listing all the activities so that family members can choose what they like. Everyone should be assigned tasks that they like and the ones that will remain to be subdivided randomly. In the long run, everyone should be responsible for specific activities even if they are not good in them.
Chapter 4
After a disaster, I am mo...