Let's Put Demography Back into Economics: Population Pyramids in Excel

Humberto Barreto ()

No 2016-02, Working Papers from DePauw University, School of Business and Leadership and Department of Economics and Management

Abstract: In 1960, George Stigler wrote that, “In 1830, no general work in economics would omit a discussion of population, and in 1930, hardly any general work said anything about population.” Today, the economics curriculum remains largely devoid of demography and this needs to change immediately. After witnessing a population explosion in the last half of the 20th century, fertility rates are crashing throughout the world. We are in the midst of another demographic sea change, slamming on the brakes right after accelerating faster than ever before. This has important consequences for economies everywhere. Instead of glibly tossing a dependency ratio onto a slide, this paper offers an easy way to improve demographic literacy in undergraduate economics students using population pyramids. Hypothetical data are used to explain the pyramid and teach its dynamic properties, then real-world data are used to provide historical context, current demographic snapshots, and a glimpse of the future. Throughout, Microsoft Excel is used and its ability to download data directly from the US Census Bureau’s International Data Base with a single click of a button provides a flexible, powerful tool to explore various countries. Download PopulationPyramid.xlsm from academic.depauw.edu/~hbarreto/working and follow along with the instructions provided in this paper.

Keywords: teaching; pedagogy; education; cohort; ageing; demographics (search for similar items in EconPapers)
JEL-codes: A1 A2 J1 (search for similar items in EconPapers)
Date: 2016-05
New Economics Papers: this item is included in nep-his, nep-hpe and nep-pke
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