Demography in economics

What does demographic mean in economics?
The Demographics Definition in Economics
The definition of "demographics" is statistical characteristics of the population used to identify certain groups and markets.
Typically, demographics may refer to gender, race, age, and other identifiers as a way to collect data that can be relevant for a variety of uses..
What is the meaning of demographics in economics?
The Demographics Definition in Economics
The definition of "demographics" is statistical characteristics of the population used to identify certain groups and markets.
Typically, demographics may refer to gender, race, age, and other identifiers as a way to collect data that can be relevant for a variety of uses..
What is the relationship between economics and demography?
Demographics—statistical data related to a population—play a key role in rates of economic growth.
That's because the makeup of any population can influence the supply of labor and productivity—known as the demographic dividend._{Sep 6, 2023}.
What is the role of demography in the economy?
Demographic change can influence the underlying growth rate of the economy, structural productivity growth, living standards, savings rates, consumption, and investment; it can influence the long‐run unemployment rate and equilibrium interest rate, housing market trends, and the demand for financial assets..
Advantages of Demographic Dividend
Increased employment of women due to lower fertility rates provides for increased economic growth.
Historically, the demographic dividend has contributed roughly 15% of overall growth in industrialised economies.

Demographic change can influence the underlying growth rate of the economy, structural productivity growth, living standards, savings rates, consumption, and investment; it can influence the long‐run unemployment rate and equilibrium interest rate, housing market trends, and the demand for financial assets.

What is Economic Demography? Economic demography is an area of study that examines the determinants and consequences of demographic change, including fertility, mortality, marriage, divorce, location (urbanization, migration, density), age, gender, ethnicity, population size and population growth.

Population, Productivity, and Prosperity

The labor force participation rateis a metric that tells us what percentage of people in a country are employed or actively looking for work

Technological Advances Support The Economy

Many feel that to sustain economic growth, either the birth rate needs to increase by a large amount, or productivity needs to keep increasing

E-Commerce

E-commerce has taken a huge amount of market share away from traditional brick-and-mortar businesses

The Bottom Line

Demographics do not determine the fate of economic growth, but they can be key to an economy's growth potential

Demographic economics or population economics is the application of economic analysis to demography, the study of human populations, including size, growth, density, distribution, and vital statistics.Demographics—statistical data related to a population—play a key role in rates of economic growth. That's because the makeup of any population can influence the supply of labor and its productivity.Using this definition, any behavior or policy that influences those actions is of interest to economists. Therefore, economists study demographic change. Demography is the statistical study of populations, which highlights the changing structure of the human population.Demographics refer to the socio-economic characteristics of a population that businesses use to identify the product preferences and purchasing behaviors of customers. With their target market’s traits, companies can build a profile for their customer base. They can determine their key customers or target market and create marketing materials.

Demography in economics

Former Federal Agency

The Economics and Statistics Administration (ESA) was an agency within the United States Department of Commerce (DOC) that analyzed, disseminated, and reported on national economic and demographic data.

Demography in economics

What does demographic mean in economics?

What is the meaning of demographics in economics?

What is the relationship between economics and demography?

What is the role of demography in the economy?

Population, Productivity, and Prosperity

Technological Advances Support The Economy

E-Commerce

The Bottom Line