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| Detailed information |
| Pre-requisites |
(*)KS Einführung in die Volkswirtschaftslehre KS Einführung in die Mikroökonomie
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| Original study plan |
Bachelor's programme Economics and Business 2021W |
| Objectives |
Overview of market labor theory with empirical applications.
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| Subject |
Unemployment, employment, and distribution of income are basic questions in regards to economic labor theory and often key topics during political debates. This includes issues such as the impact of new technology, EU expansion into eastern Europe, migration, etc. Dealing with labor demand and supply from the beginning is advantageous as a reference model can be built which could aid in analyzing the effects of particular social programs or changes in demographic structures.
Issues regarding income distribution in lieu of human capital theory by Nobel prize winner Gary S. Becker which models individual education decisions can be analyzed. Wage differences may come about for different reasons (market-induced or not-market induced): compensating wage differentials due to working conditions, pensions due to salary negotiation with unions, or discrimination.
Additional course topics include the regulation of labor markets, unemployment and performance-related wages. The course aims to combine theoretical insight with an empirical approach to research issues, accompanied by practical examples.
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| Criteria for evaluation |
2 examinations; plus a re-sit examination, if necessary
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| Methods |
Lecture
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| Language |
English |
| Study material |
Borjas, George J., (2000): Labor Economics, McGraw-Hill (NY), Chapters 1-5, 7, 9.
Ehrenberg, R., Smith, R. (1994): Modern Labor Economics; Harper Collins (NY), Chapter 8.
Oswald, A. J. (1985): The Economic Theory of Trade Unions;
Scandinavian Journal of Economics, 87(2), 160-193.
Lazear, E. (1995): Personnel Economics, MIT-Press, Chapters 2-3.
Bosworth, Derek, Dawkins, Peter und Thorsten Stromback: The Economics of the Labour Market, Addison Wesley Longman (Harlow), Chapter 24.
Addison, John, Barrett, C. und Stanley Siebert: The Economics of Labour Market Regulation, in: Addison und Siebert (Hrsg.), Labour Markets in Europe, The Dryden Press, 1997, 62-101.
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| Changing subject? |
No |
| Further information |
Course readers and materials are in English
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