Economics of Population

Economics of Population

1. Population

   • Demography: is the statistical study of human population
   • Underpopulation: when an increase in population causes an increase in the average income per head
   • Overpopulation: when an increase in population causes a decrease in the average income per head
   • Optimum Population: is when the average income per head is at its highest possible level

2. Trends in Births and Deaths

   • Birth Rate: is the average number of live births per 1,000 people per year
   • Fertility Rate: is the number of live births in a geographic area in a year per 1,000 woman of childbearing age
     • Total Fertility Rate: is the average number of babies born to women during their reproductive years
   • Death Rate: is the average number of deaths per 1,000 people per year
   • Infant Mortality: refers to the number of children out of every 1,000 born alive who die on or before their first birthday

3. Life Expectancy: is the number of years, based on statistical averages, that a given person of a specific age, class or other demographic variable may be expected to live

4. Density of Population is the average number of people per square kilometre

5. Migration

   • Net Migration is the difference between emigration and immigration during a period of time
   • Push Forces
     • Low Wage Rates
     • High Levels of Unemployment
     • Lack of Opportunities
     • Religious persecution
   • Pull Forces
     • Employment opportunities
     • Higher Wages
     • Better Standard of Living
     • A more attractive climate
   • Economic Consequences of an Increase in Emigration
     • Higher Dependency Ratio
     • 'Brain Drain'
     • Unemployment reduced
     • Demand for state services fall
   • Economic Consequences for a Country Experiencing Increased Immigration
     • Positive
       • Improved Dependency Ratio
       • Gov. Revenue increases
       • Increased demand for goods and services
     • Negative
       • Drain on state finances
       • Exploitation of immigrants
       • Pressure on provision of state services

6. The Census

   • It is the official count of the nation's people and a compilation of economic, social and other data, used by the government in the formulation of development policies and plans. It occurs every four years
   • Economic uses of a Census
     • Demographic Changes
     • Pension planning
     • Infrastructural requirements
     • Future levels of consumer demand
     • Regional policy

7. An ageing population is living longer, has an average life span that is increasing and has a growing percentage of the population who are in an older age bracket

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