Module description
What is the module about?
The aims of the course are to introduce students to key concepts in labour economics most notably labour market theory and the theory of personnel economics, develop an understanding of how these tools can be used to address theoretical, applied and policy problems. And to develop an understanding of the nature and role of the labour markets across the world.
Who should do this module?
Those who interested in labour economics theory and their direct relevance to the workplace, Those interested in the use of theories to analyse real-world labour market questions such as: "How wages are set?", "Why people stay on benefits?", "What are the rewards from studying?", "Who is promoted within a firm?", "Why (and when) people change job?", "How unions operate?” and “Why people migrate, and return to their origin country?" A recurrent discussion is around how governments use those theories to design reforms in their own country’s labour markets.
Provisional Lecture Outline
Lecture 1: Labour demand I
Lecture 2: Labour demand II
Lecture 3: Labour Supply I
Lecture 4: Labour Supply II
Lecture 5: Labour market equilibrium, Frictions, Monopsony
Lecture 6: Wage Differentials - Wage structure
Lecture 7: Human capital
Lecture 8: Unions and the labour market
Lecture 9: Immigration
Lecture 10: Unemployment
Assessment details
80% Oral Examination
20% Peer Assessment (Oral Group Presentation)
The format of the examination has not yet been confirmed. All students will be expected to sit any remote exams in January, but semester 1 only students will be set an alternative assessment in lieu of in-person exams
Teaching pattern
Weekly Lecture
Weekly Tutorial
Suggested reading list
Labour Demand; Labour Supply; The Wage Structure; Labour Mobility; Frictions; Unions; Immigration
The main textbook is:
- Ehrenberg, Ronald and Smith, Robert, Modern Labor Economics, Theory and Public Policy Boston, 13th edition, 2017, or earlier editions.
Additional readings are provided in:
- Borjas George J., Labor Economics, McGraw-Hill, International, Eighth Edition, 2016 or earlier editions