Labour Economics (2225.YR.015290.1)
General information
Type: |
OPT |
Curs: |
3 |
Period: |
S semester |
ECTS Credits: |
3 ECTS |
Teaching Staff:
| Group |
Teacher |
Department |
Language |
| Year 3 |
Zelda Brutti |
Economía, Finanzas y Contabilidad |
ENG |
Prerequisites
Prerequisites include basic microeconomics and a course in statistics or econometrics. Experience with basic data analysis and graph production is helpful.
Course Learning Objectives
This course is an introduction to the field of labor economics, which studies the market in which the traded good is the work performed by people and aims at explaining actually observed behavior on this market. In the course we will use a mix of economic theory, policy discussion, reading of real-world cases and data analysis. We will be addressing topics that include labor supply and labor demand, wage determination and wage differentials, unemployment, human capital accumulation, discrimination, migration.
After taking this course, the student should:
- know the basic functioning and mechanisms of the labor market
- have a good overview of the complexities of this market and features that distinguish it from other goods markets
- be able to read and understand articles and reports that make use of the concepts covered in this course
CONTENT
1. Introduction Facts about employment and earnings; labor economics and policy; recent trends in labor economics; actors on the labor market; review of the demand and supply framework. |
2. Labor Supply Introduction; the individual decision to work; the labor supply curve; income and substitution effects in work supply; empirical evidence. |
3. Labor Demand Introduction; the firm's decision to hire and fire workers; differences between the long and the short run; the firm's decision to offer amenities beyond salary; empirical evidence. |
4. Labor Market Equilibrium The competitive labor market; wage determination; demand and supply-side shocks to the equilibrium; real-world examples. |
5. Wage differentials Theories and causes of wage differentials; empirical evidence on wage differentials; the role of unions and collective bargaining. |
6. Employment and Unemployment Determinants; measurement issues, international comparisons; types of unemployment; empirical trends and evidence, including a focus on recent recessions. |
7. Human capital Introduction; the decision to accumulate human capital; the education production function; economic returns to human capital; empirical evidence. |
8. Mobility and Discrimination Labor mobility decision; labor mobility trends; Roy selection; types of discrimination; antidiscriminatory policies. |
Methodology
Lectures will be delivered face-to-face in the classroom; beyond the main exposition of concepts by the lecturer, active participation and debate by students is explicitly encouraged. Depending on class size, group-work activities may be set up.
ASSESSMENT
ASSESSMENT BREAKDOWN
| Description |
% |
| Take-home thought questions |
20 |
| Two partial examinations |
40 |
| Final exam |
40 |
Assessment criteria
Students will be evaluated on their understanding of the topics covered in lectures and in their ability to elaborate on them further and to draw relevant implications, both at home and in class.
Beyond the evaluation activitied listed below, there is a 10% bonus for strong participation as determined by contribution to class discussion and regular attendance.
Bibliography
Borjas, George J. "Labor Economics". 8th ed. Boston, MA: McGraw-Hill, 2021.
Ehrenberg, Ronald G. and Smith, Robert S. "Modern Labor Economics - Theory and Public Policy". 11th ed. Boston, MA: Pearson / Prentice Hall, 2012
+ specific readings assigned during termtime
Timetable and sections
| Group |
Teacher |
Department |
| Year 3 |
Zelda Brutti |
Economía, Finanzas y Contabilidad |
Timetable Year 3
From 2023/2/15 to 2023/5/10:
Each Wednesday from 17:00 to 19:00. (Except: 2023/3/1 and 2023/4/5)
