Labour Economics
A.Y. 2023/2024
Learning objectives
The course deals with all main topics related to the functioning of the labor market to make the students able to:
- know the theoretical problems related to the behavior of workers, firms and institutions in the determination of wages and employment.
- apply this knowledge and understanding in the solution of simple economic problems
- analyze, evaluate and comment in a conscious and critical way, with autonomy of judgement, the, empirical evidence for both OECD countries and developing economies;
- develop communication skills, participating with awareness and language ownership in the debate proposed in the classroom on the economic problems that will be stimulated by the teacher during the discussion of any topics;
- finally, through the knowledge of the course program, develop their learning skills in relation to the study of both other economic disciplines and juridical disciplines.
- know the theoretical problems related to the behavior of workers, firms and institutions in the determination of wages and employment.
- apply this knowledge and understanding in the solution of simple economic problems
- analyze, evaluate and comment in a conscious and critical way, with autonomy of judgement, the, empirical evidence for both OECD countries and developing economies;
- develop communication skills, participating with awareness and language ownership in the debate proposed in the classroom on the economic problems that will be stimulated by the teacher during the discussion of any topics;
- finally, through the knowledge of the course program, develop their learning skills in relation to the study of both other economic disciplines and juridical disciplines.
Expected learning outcomes
Knowledge and understanding skills: the students will develop knowledge and will have to demonstrate understanding of the mechanisms that underlie how to operate in the labour market; - Application skills: during the frontal lessons will be offered the possibility to apply knowledge and understanding through the proposal of simple and practical economic problems that will be solved in the classroom with the involvement of the students; - Autonomy of judgment: the student, through the knowledge and competences acquired, will then be able to analyze, evaluate and comment in a conscious and critical way, with autonomy of judgment, the main facts of labour market. - Communicative skills: the student will have to develop communication skills by participating with awareness and language properties in the debate proposed in the classroom on economic issues. This ability must, however, emerge during the written evaluation; - Learning skills: knowledge of the proposed program will enable students to develop their learning capacities in relation to the study both of other economic and legal disciplines.
Lesson period: First semester
Assessment methods: Esame
Assessment result: voto verbalizzato in trentesimi
Single course
This course can be attended as a single course.
Course syllabus and organization
Single session
Responsible
Lesson period
First semester
Course syllabus
Part I: Labour supply and demand ( Labour demand: the hiring and firing decisions made by firms; Labour supply in the short term: how many workers choose to enter the labour market and how many hours they are willing to work; Labour markets; Competitive labour markets;).
Part II: Non competitive labour markets; Labour markets structure)
Part III: Macroeconomics of labor markets (Unemployment, inflation, aggregate demand. The neo-classical model; Unemployment, inflation, aggregate demand. The Keynesian model; Inflation, bargaining, aggregate supply. The model of Friedman and New Classical Macroeconomics; 4. Inflation, bargaining, aggregate supply. New Keynesian macroeconomics and non competitive markets).
Part IV: Economics of education and human capital (Long-term labour supply. The human capital theory; Economics of education. Main reference models; Education supply. Efficiency and effectiveness assessment; The overeducation phenomenon).
Part V: Work organization in the firm (1. Internal labour markets; 2. Institutional firm models in Labour Economics: Firm A and Firm J; 3. Human resource management and new organizational practices; 4. Firm-provided training).
Part II: Non competitive labour markets; Labour markets structure)
Part III: Macroeconomics of labor markets (Unemployment, inflation, aggregate demand. The neo-classical model; Unemployment, inflation, aggregate demand. The Keynesian model; Inflation, bargaining, aggregate supply. The model of Friedman and New Classical Macroeconomics; 4. Inflation, bargaining, aggregate supply. New Keynesian macroeconomics and non competitive markets).
Part IV: Economics of education and human capital (Long-term labour supply. The human capital theory; Economics of education. Main reference models; Education supply. Efficiency and effectiveness assessment; The overeducation phenomenon).
Part V: Work organization in the firm (1. Internal labour markets; 2. Institutional firm models in Labour Economics: Firm A and Firm J; 3. Human resource management and new organizational practices; 4. Firm-provided training).
Prerequisites for admission
The positive examination of Economics is compulsory
Teaching methods
Teaching is provided by means of face-to-face lessons designed to present the foundations of microeconomic and macroeconomic theory of labour market, including the analysis of case studies carried out with the partecipation of students.
Teaching Resources
Antonelli G., Guidetti G., Economia del lavoro e delle risorse umane, Torino, Utet, 2008.
Single chapters associated to the different parts of the programme are here below listed.
Parte I: Labour demand and supply
Antonelli G., Guidetti G., Economia del lavoro e delle risorse umane, Torino, Utet, 2008. (Chapters 1, 2).
Alternatively students may use the following textbook.
Borjas G.J., Labor Economics, New York, McGraw-Hill, 2010 (Chapters 2, 3).
Part II: Labour markets
Antonelli G., Guidetti G., Economia del lavoro e delle risorse umane, Torino, Utet, 2008. (Chapters 4, 5).
Alternatively students may use the following textbook.
Borjas G.J., Labor Economics, New York, McGraw-Hill, 2010 (Capp. 4, 5.1, 5.2, 5.3, 5.4, 5.6, 5.7, 5.8, 10);
Part III: Macroeconomics of labour markets
G. Antonelli e G. Guidetti, Economia del lavoro e delle risorse umane, Torino, Utet, 2008. (Chapters 8, 9).
Alternatively students may use the following textbook.
Carlin W. e Soskice D., Macroeconomia, Bologna, Clueb, 1992 (Chapters 6, 7, 8).
Part IV: Economics of education and human capital
Antonelli G. e Guidetti G., Economia del lavoro e delle risorse umane, Torino, Utet, 2008. (Chapter 3).
Alternatively students may use the following textbook.
Borjas G.J., Labor Economics, New York, McGraw-Hill, 2010 (Cap. 6)
Part V: Work organization in the firm
Antonelli G., Guidetti G., Economia del lavoro e delle risorse umane, Torino, Utet, 2008. (Chapter 7).
Single chapters associated to the different parts of the programme are here below listed.
Parte I: Labour demand and supply
Antonelli G., Guidetti G., Economia del lavoro e delle risorse umane, Torino, Utet, 2008. (Chapters 1, 2).
Alternatively students may use the following textbook.
Borjas G.J., Labor Economics, New York, McGraw-Hill, 2010 (Chapters 2, 3).
Part II: Labour markets
Antonelli G., Guidetti G., Economia del lavoro e delle risorse umane, Torino, Utet, 2008. (Chapters 4, 5).
Alternatively students may use the following textbook.
Borjas G.J., Labor Economics, New York, McGraw-Hill, 2010 (Capp. 4, 5.1, 5.2, 5.3, 5.4, 5.6, 5.7, 5.8, 10);
Part III: Macroeconomics of labour markets
G. Antonelli e G. Guidetti, Economia del lavoro e delle risorse umane, Torino, Utet, 2008. (Chapters 8, 9).
Alternatively students may use the following textbook.
Carlin W. e Soskice D., Macroeconomia, Bologna, Clueb, 1992 (Chapters 6, 7, 8).
Part IV: Economics of education and human capital
Antonelli G. e Guidetti G., Economia del lavoro e delle risorse umane, Torino, Utet, 2008. (Chapter 3).
Alternatively students may use the following textbook.
Borjas G.J., Labor Economics, New York, McGraw-Hill, 2010 (Cap. 6)
Part V: Work organization in the firm
Antonelli G., Guidetti G., Economia del lavoro e delle risorse umane, Torino, Utet, 2008. (Chapter 7).
Assessment methods and Criteria
The exam consists only of an oral test. The oral test aims to verify, in addition to the knowledge of the notions, the ability to critically address the elaboration of the acquired knowledge. Grades will be communicated through the on line verbalization procedure and the student can refuse the grade and retake the exam. The attending students will have access to intermediate exams (not compulsory or binding). Information about intermediate tests enrollments and dates will be communicated in Ariel.
Educational website(s)
Professor(s)
Reception:
14.30 -15.30
Dipartimento di Diritto Privato e Storia del Diritto, stanza 1117