Class Notes (806,584)
Canada (492,337)
Economics (1,278)
ECN 340 (200)
Lecture 6

Lecture 6

4 Pages
Unlock Document

Ryerson University
ECN 340
Thomas Barbiero

New Home Economics The New Home Economics: Family is a firm Transforms inputs and produces the things wanted by the family The Marriage Contract: Marriage is a legally enforceable contract between two people It is an open-ended contract; not all eventual possibilities are spelled out Marriage much like constitution Purpose of dating is to work at provisions of the contract (some do not take enough time to do this) Poorly put together contract soon lead to dissolution What are some of the misunderstandings that can occur in a marriage contract? What would you include in the contract? o Career, children, etc What are the obstacles to taking your spouse to court for breach of contract? Ex: Suing him for not cutting the grass o Could not have a proper relationship; marriage council a better option Divorce is a dissolution of the contact, just like a break-up of a business Investment in a marriage makes it more difficult to break-up o Children, joint mortgagebank account, etc Living together with the capacity to simply walk out may force the other party to be more considerate Costs and Benefits of Marriage: Costs: 1. Independence 2. Making decisions in a family Family decisions require input from all members. I.e. Buying a car
More Less

Related notes for ECN 340

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.