Labour Economics

This subject is not offered in 2016.

Estimated total time commitment of 120 hours per semester

One of the following 2 subjects:

Plus one of the following subjects:

None

None

ECON40008 Labour Economics

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

This is an advanced subject in labour economics. Topics to be covered will include: Overview of labour market outcomes in Australia; Labour supply (including labour force participation, hours of work, and the effects of public policy); Labour demand; Human capital; Labour market discrimination; Unemployment; Wage determination; Earnings distributions; Impact of unions. Other topics may include labour market flows (including the analysis of quits and layoffs), immigration, and employment structures within firms. In each topic relevant theory and empirical research (especially relevant Australian studies) will be examined.

On successful completion of this subject students should be able to:

• Describe the fundamental features of a labour market, its operation, and role in the economy;
• Apply relevant microeconomic and macroeconomic theory to explain the main potential determinants of labour market outcomes;
• Critically evaluate empirical evidence on the operation of labour markets, and on the main determinants of labour market outcomes;
• Formulate simple theoretical models of the operation of the labour market, and design strategies for empirically testing theories.

• 2-hour end of semester examination (70%);
• 2000 word individual essay due in week 12 (10%);
• A 15 minute individual in class presentation (individual), individually allocated time from week 3 to week 11 (5%); and
• Three group completed problem sets no more than 6 pages each due in weeks 5, 8 and 11) (15%)

You will be advised of prescribed texts by your lecturer.

This subject is not available as a breadth subject.

On successful completion of this subject, students should have improved the following generic skills:

• Evaluation of ideas, views and evidence
• Synthesis of ideas, views and evidence
• Critical thinking
• Application of theory to economic policy and business decision-making
• Summarise and interpretation of information
• Statistical reasoning
• Problem solving skills
• Oral communication
• Written communication

Students may not gain credit for both ECON90013 Labour Economics and ECON40008 Labour Economics.