Economics of Labor Markets ((4 Credits))

Catalog description

This course provides an economic analysis of the market for workers (the labor market). Students will analyze the determinants of labor supply and labor demand. Topics include educational and training investments, occupational choice, worker mobility, pay and productivity, wage structure, income inequality and policy issues such as labor shortages, the effects of minimum wage on employment, the labor effects of outsourcing, economic analysis of unemployment, the impact of welfare policy on labor supply and demand and the role of unions. Students will examine additional topics that may vary across terms. Additional topics may include gender wage differentials, economics of marriage and divorce, demographic trends and economic issues related to occupational health and safety, changes in levels of unionization and immigration. The course satisfies economics skills in BME guidelines. Highly Recommended (not required): Knowledge in Algebra that is needed for the introductory course in microeconomics. Note: This course is also listed as LABR 3055 Labor Economics. Students should not enroll in both ECON 3045 and LABR 3055. This course was previously LAB 263174 Labor Economics. Prerequisites: Microeconomics ECON 2020 , or equivalent.