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This lecture explores the reasons behind the decrease in fertility rates, including the social empowerment of women, family planning, income levels, and changing social beliefs. It also discusses the relationship between standard of living and fertility, using examples from different countries. The instructor analyzes the demographic transition, focusing on the impact of a young population and a low dependency ratio on economic growth. Moreover, the lecture delves into the evolution of age pyramids in various regions, highlighting the implications of gender imbalances on population dynamics.