Social Science Assessment

Social Science
Assessment

Contents
INTRODUCTION...........................................................................................................................3
PART A...........................................................................................................................................3
Draw a diagram of the intertemporal budget constraint..............................................................3
2. Show the intertemporal pattern of consumption that maximises the utility and explain why
this is unique................................................................................................................................5
3. Draw a new diagram which shows the Robin's budget constraint...........................................6
4. (a) When the hourly wage has decreased, make the budget constraint...................................7
4 (b) The hourly wage of Robin has increased, now draw the supply sloping curve. Also
describe the circumstances under which the supply curve is downwards sloping......................8
PART B...........................................................................................................................................8
What are the extent would increases the women's share of household's resources.....................8
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
Economic analysis is the study of the economic system which is related to the production
process or an industry. The main aim of this is to determine how the effectively the overall
economy with their operating (Cevik, Yıldırım and Dibooglu, 2021). Budget constraints is
boundary of the opportunities set which also includes the consumption that someone can afford
within the given price of the commodity and the income of the consumer. This respective essay
is based on analysing the budget constraint and the certain factors which is contributing to the
growth of the women and leads to get the career growth and gender equality at the workplace
across the UK.
PART A
Draw a diagram of the intertemporal budget constraint.
Income = 30000
Interest rate = 5 %
Interest earned = 30000 * 5% = 1500
Step 1
C = consumption
S = Savings
Y = Income
S = Y1 – C1
1500 = 30000 – C1
C1 = 30000 – 1500
C1 = 28500
C2 = Y2 + ( 1 + r) * Y1
= 0 + ( 1 + 0.05) * 1500
= 0 + 1575 = 1575.
Present value of Consumption = C1 + (C2 / (1 + r))
= 28500 + (1575 / ( 1 + 0.05))

= 28500 + (1575 / 1.05) = 31500.
Present value of Income = Y1 + ( Y2 / (1 + r))
= 30000 + (0 / (1 + 0.05))
= 31500.
So, it can be analysed the the present value of income and consumption are equal.