Question

Why do think it important that economists track the students “until they die “ ? What type of question Would this information help answer?

Answer 1

Students come across so many phases of their lives, like childhood, young age, middle age, elder age, and older age. There are different economical aspects in each of these phases; such as earnings would be higher in middle ages compare to young ages, savings plays an important role in older ages, unemployment pattern in young ages, etc. All these are important, because these matter economic growth. A group or class of students could be tracked throughout their lives for understanding those aspects and to get the better view of economical sequence. Therefore, this is important.

It helps to give answer the following questions:

1) Which age has more consumption attitude / savings attitude?

2) Why students are still unemployed although they have adequate qualifications?

3) How their standard of living changes by the change of inflation?

4) Why people become immigrants?

All these are not macroeconomic factors; there might be microeconomic indicators too, like an individual demand pattern is completely different from the group as a whole.