Curriculum The Economics of Death
The Economics of Death
A sensitive but important topic: how economists value life, the funeral industry, cremation costs and firewood, counting deaths, excess deaths during COVID-19, end-of-life care costs, unclaimed money and insurance claims, annuities and longevity risk, land for cemeteries, living wills and digital assets after death.
- What Is a Life Worth? The Value of a Statistical Life How economists estimate the "value of a statistical life" from how much people pay to reduce small risks, why governments use it, and why it's ethically debated. 📄 Read-aloud
- The Funeral Industry How funerals became an industry with services, caskets and plots in many countries, why grieving families are vulnerable to overspending, and consumer protection rules. 📄 Read-aloud
- Cremation, Firewood and Electric Crematoriums How traditional wood-fired cremation uses large amounts of firewood and adds to pollution, and how electric and gas crematoriums offer cheaper, cleaner alternatives. 📄 Read-aloud
- Counting Deaths: Civil Registration in India Why recording births and deaths matters for policy, how India's Civil Registration System works, and why death registration has historically been incomplete. 📄 Read-aloud
- Excess Deaths and COVID-19 How researchers estimate "excess deaths" by comparing actual deaths with expected deaths, and why estimates of India's COVID-19 toll differed from official figures. 📄 Read-aloud
- The Cost of Dying: End-of-Life Healthcare Why a large share of lifetime healthcare spending happens in the last months of life, the financial burden on Indian families, and the role of palliative care. 📄 Read-aloud
- The Economics of Death: Checkpoint 1 Quick checkpoint - five questions on the value of a statistical life, funerals, cremation, death registration and excess deaths. 5 questions
- Unclaimed Money and Insurance Claims How large amounts of money in bank accounts, insurance policies and investments go unclaimed after deaths, and India's efforts like UDGAM to help families find it. 📄 Read-aloud
- Annuities and Longevity Risk How annuities turn savings into guaranteed lifetime income, why they protect against the risk of outliving money, and why few people buy them. 📄 Read-aloud
- Land for the Dead How growing cities face shortages of burial land, why cemetery plots become expensive, and solutions like reuse, vertical cemeteries and cremation. 📄 Read-aloud
- Living Wills and the Right to Die with Dignity How India's Supreme Court recognised passive euthanasia and living wills in 2018, simplified the process in 2023, and the ethical and practical issues involved. 📄 Read-aloud
- Digital Assets After Death What happens to online accounts, cryptocurrency, photos and digital money after someone dies, and how families can plan for digital inheritance. 📄 Read-aloud
- Planning Ahead: A Recap Practical steps families can take to reduce the financial burden of death, and a recap of the module. 📄 Read-aloud