Labour economics

In this module you will examine how the labour market operates. Starting with a detailed analysis of theoretical and empirical aspects of labour supply and demand, the module focuses on the implications of equilibrium in terms of factor rewards and employment. Macroeconomic aspects of the labour market are also examined with particular emphasis on the causes and consequences of unemployment.  

The aims of this course are for you

(a) to survey the broad area of labour economics and

(b) to analyse how individuals, families, firms and governments operate within a contemporary labour market.

The approach is a two‐fold one: a theoretical survey with the incorporation of empirical evidence from several developed countries.

Likely topics:  

• labour supply

• labour demand

• static equilibrium

• human capital

• the economics of discrimination

• unemployment

• efficiency wages.