ECO 743SEM - Labor Economics

The approach is primarily that of applied microeconomics, with occasional excursions into macroeconomics. The difficulties in identifying and estimating the demand for labor, short run and long run, are explored. On the supply side, we include a review of the studies of labor force participation, search theory, the human capital model, and studies of mobility. The above is then used for analyzing models of aggregate wage change for studying relative wages. The latter is given attention within the frameworks of industrial occupational, and regional wage structures, and also union-nonunion differentials. Policy questions regarding wages, inflation, unemployment, and labor market problems of disadvantaged groups are considered.

Credits: 3