Last modified: 25 May 2018 11:16
This course focuses on the behaviour of employers and employees in response to the incentives of wages, prices, and profits. The employment relationship is one of the most important of our lives as we allocate a large proportion of our time to the labour market. This course develops an understanding of how labour markets work, and will apply this to understand social and economic problems facing modern societies, such as the impact of welfare benefits and the usefulness of wage taxes and subsidies. We also introduce the key ideas of the economics of incentives, remuneration packages and labour contracts.
|Second Sub Session
|30 credits (15 ECTS credits)
The course aims to develop an understanding of the level and structure of wages and employment in advanced industrial nations. Distinguishing the nature and determinants of the supply of and demand for labour, the course analyses the behaviour of labour markets and offers explanations of the major outcomes. Current policy issues such as the impact of welfare benefits on labour supply, wage taxes and subsidies, and competing models of the labour market will be explored. The course will also introduce students to personnel economics and key ideas in the economics of incentives, such as remuneration schemes, the structure of labour contracts, tournament and contests, as well as discrimination in labour markets.
The course runs every two years, starting in 2013/14.
Information on contact teaching time is available from the course guide.
1 three-hour examination (80%)
3000 word essay (20%)
This will take place via tutorial discussions, and via the in-course assessment.
Feedback is given in the in-course assessment (essay), giving students guidance on how to improve answer and general presentation of essay.