EC3015 Economics of labour
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.
- participation and hours of work.
- human capital formation.
- empirical evidence.
- 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.