The Economics of Household Consumption

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This text provides an overview of concepts, theories and methods related to the study of household consumption. It summarizes the most recent data on consumption patterns and trends, together with factors that influence consumption - population trends, prices, and distribution of resources - and examines how consumption data are used by business, government and other organizations. The work will give the student a knowledge of household consumption patterns and an understanding of how to use such knowledge. It three general purposes, which correspond to the three parts of the book, are: to provide the tools students need in order to use information about household consumption, including major concepts and theories used in the study of consumption, empirical methodologies and sources of data; to describe current patterns, trends and problems in household consumption in the United States and other countries; and to show how information about household consumption is used. This text is designed for upper-division courses in consumption economics, consumer science and family resource management.

Author Bio

Frances M. Magrabi is professor of consumption economics in the School of Human Resources and Family Studies at the University of Illinois at Urbana-Champaign. She received her PhD from Iowa University. Young Sook Chung is assistant professor of home management at Taegu University, Korea. She received her PhD from the University of Illinois at Urbana-Champaign. Sanghee Sohn Cha, who received her PhD from the School of Human Resources and Family Studies at the University of Illinois, has taught at Seoul National University and Sook-Myung Women's University, Korea. Se-Jeong Yang, also with a doctorate from the University of Illinois, is employed as an economic analyst at the CNB Economic Research Institute, Seoul, Korea.