The Labor Economic course introduces the students to the basic theories and labor markets. It will emphasize the interaction between theory and empirics. The first part of the course is devoted to study the labor demand decisions taken by firms in competitive markets, the supply decisions taken by rational workers, and the equilibrium outcomes in such markets. The second part of the course analyzes imperfect labor markets and how migration may impacts the economies of host countries. The second part of the course analyzes the role of labor market institutions, and covers other important topics in labor economics: human capital, workers selection and training, wage incentive scheme, wage inequality and discrimination.
Expected learning outcomes
Upon successful completion of this subject, the students will be able to:
1. Demonstrate a sound understanding of the core concepts and tools of Labour Economics and Policy.
2. Apply economic principles and reasoning to critically analyse labour market phenomena and contemporary academic literature.
3. Develop an understanding of the future role work and jobs in evolving social and economic enviroments.
4. Communicate their knowledge and understanding of labour market and related social issues using written, verbal expression.
5. Critically evaluate government policies affecting work and jobs
6. Interpret labour market statistics and the statistical outputs in academic papers policy reports and broader economic and social commentary.