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Table of Contents

  1. University of London International Programmes Programme Specification and Regulations for Economics, Management, Finance and the Social Sciences (New Regulations)
  2. Important information regarding the Programme Specification and Regulations
  3. Programme Specification
  4. Detailed Regulations
  5. Annex A: Structures - Degrees
  6. Annex A: Structures - Diplomas for Graduates
  7. Annex A: Structures - Diploma in Economics and Diploma in Social Sciences
  8. Annex A: Structures - Selection Groups
  9. Annex B: Syllabuses for Economics, Management, Finance and the Social Sciences
    1. AC1025 Principles of accounting
    2. AC3059 Financial management
    3. AC3091 Financial reporting
    4. AC3093 Auditing and assurance
    5. AC3097 Management accounting
    6. AC3143 Valuation and securities analysis
    7. DV1171 Introduction to international development
    8. DV2169 Economic policy analysis in international development
    9. DV3044 Economics of development
    10. DV3162 Complex emergencies and humanitarian responses
    11. DV3165 Development management
    12. DV3166 Global environmental problems and politics
    13. EC1002 Introduction to economics
    14. EC2020 Elements of econometrics
    15. EC2065 Macroeconomics
    16. EC2066 Microeconomics
    17. EC2096 Economic history in the 20th century
    18. EC3015 Economics of labour
    19. EC3016 International economics
    20. EC3022 Public economics
    21. EC3099 Industrial economics
    22. EC3115 Monetary economics
    23. EC3120 Mathematical economics
    24. FN1024 Principles of banking and finance
    25. FN2029 Financial intermediation
    26. FN3023 Investment management
    27. FN3092 Corporate finance
    28. FN3142 Quantitative finance
    29. GY1009 Human geography
    30. GY1147 Physical geography: fundamentals of the physical environment
    31. GY1148 Methods of geographical analysis (half course)
    32. GY2109 Geographies of development
    33. GY2149 Biogeography
    34. GY2150 Geomorphological processes
    35. GY2151 Environmental change
    36. GY2152 Hydrology
    37. GY2164 Economic geography
    38. GY3068 Society and the environment
    39. GY3153 Space and culture
    40. GY3154 Geomorphological applications
    41. GY3155 Biodiversity
    42. GY3156 Tropical land management
    43. GY3157 Independent geographical study
    44. IR1011 Introduction to international relations
    45. IR1034 World history since 1917
    46. IR2084 Nationalism and international relations
    47. IR2085 International institutions
    48. IR2137 Foreign policy analysis
    49. IR3026 International political economy
    50. IR3083 International political theory
    51. IR3140 Security and international relations
    52. IS1060 Introduction to information systems
    53. IS1168 Introduction to computer systems architecture and programming
    54. IS2062 Information systems development and management
    55. IS2136 Information systems and organisations
    56. IS2138 Information and communication technologies: principles and perspectives
    57. IS3139 Software engineering: theory and application
    58. IS3159 Research project in information systems
    59. IS3167 Management and Innovation of e-business
    60. MN1107 Introduction to business and management
    61. MN2079 Elements of social and applied psychology
    62. MN3027 The law of business organisations
    63. MN3028 Managerial economics
    64. MN3032 Management science methods
    65. MN3075 Human resource management
    66. MN3077 Management: international and comparative perspectives
    67. MN3119 Strategy
    68. MN3127 Organisation theory: an interdisciplinary approach
    69. MN3141 Principles of marketing
    70. MT105A Mathematics 1 (half course)
    71. MT105B Mathematics 2 (half course)
    72. MT1173 Algebra
    73. MT1174 Calculus
    74. MT2076 Management mathematics
    75. MT2116 Abstract mathematics
    76. MT2176 Further calculus (half course)
    77. MT2175 Further linear algebra (half course)
    78. MT3040 Game theory (half course)
    79. MT3041 Advanced mathematical analysis (half course)
    80. MT3042 Optimisation theory (half course)
    81. MT3043 Mathematics of finance and valuation (half course)
    82. MT3095 Further mathematics for economists
    83. MT3170 Discrete mathematics and algebra
    84. PS1114 Democratic politics and the State
    85. PS1130 Introduction to modern political thought
    86. PS2082 Comparative politics
    87. PS3086 Democracy and democratisation
    88. PS3088 Politics and policies of the European Union
    89. PS3108 Political analysis and public choice
    90. SC1021 Principles of sociology
    91. SC1158 Reading social science (half course)
    92. SC2145 Social research methods
    93. SC2163 Sociological theory and analysis
    94. SC3057 Social policy
    95. SC3144 Historical sociology
    96. SC3160 Population and society
    97. ST104A Statistics 1 (half course)
    98. ST104B Statistics 2 (half course)
    99. ST3133 Advanced statistics: distribution theory (half course)
    100. ST3134 Advanced statistics: statistical inference (half course)
  10. Annex B: Laws syllabuses
  11. Annex C: Table of Automatic Accreditation of Prior Learning 2011-12
  12. Annex D: Scheme of award
  13. Annex E: Assessment Criteria
  14. Glossary of terms
  15. Related documents and other sources of information
  16. Corrections

EC3015 Economics of labour

Note

Students may bring into the examination hall their own hand held electronic calculator. If calculators are used they must satisfy the requirements listed in Section 4, Assessment for the programme, of the Detailed Regulations.

Prerequisites (applies to degree students only)

MN3028 Managerial economics or EC2066 Microeconomics.

Syllabus

Labour supply

  • participation and hours of work.
  • human capital formation.
  • empirical evidence.

Labour demand

  • labour demand as derived demand for goods and services, determinants of the sensitivity of the demand for labour with respect to the wage (assuming firms take wages as given) wage structure and its determination - market mechanisms, market clearing and efficiency.
  • evidence on changes in wage structures over time, skilled versus unskilled, men versus women etc.

Policy issues and labour market dynamics

  • why wage differentials exist amongst similar workers: information aspects and labour market frictions; dynamic monopsony, efficiency wages, discrimination, search and matching models, evidence.
  • Institutional aspects of labour markets, trade unions and professional associations, minimum wages, equal pay acts etc.
  • Determinants of unemployment and potential policies: job subsidies/in work benefits, active labour market policies, work sharing.