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SSST Subjects

EC 340 Labour Economics

 
 

Programme(s) where module is offered

  • BSc in Economics with International Business
  • BSc in Economics with Finance
 

Status (core, option, free choice)

Core

 

FHEQ Level

5

 

Unit Value

6 ECTS

 

Semester taught

Autumn

 

Pre-Requisite Modules or Qualifications

Introduction to Microeconomics (EC 110),

Introduction to Macroeconomics (EC 130)

 

Module Code

EC 340

 

Module coordinator

Goran Mirascic

 

Applicable From

2017

 

Educational Aims of the Module

  • This module is envisioned to represent a comprehensive and understandable application of economic analysis to the behaviour of, and relationship between employers and employees.
  • The employment relationship being one of the most important relationships in our daily lives also attracts a great deal of legislative attention, and mastering the regulation of the labour market is a key to understanding an array of social problems in any society.
  • Labour economics in that regards will be primarily concerned with abovementioned relationship in response to the general incentives of wages, prices, profits, and working conditions.
  • In the framework of legislative attention given to these matters, the module will cover issues like minimum wage, pension reform regulations, safety and health regulations, welfare reform, immigration policies and antidiscrimination laws.
 

Module Outline/Syllabus

  • Labour Economics: Basic Concepts (Introduction)

  • Overview of the Labour Market

  • The Demand for Labour

  • Labour Demand Elasticities

  • Frictions in the labour Market

  • Supply of Labour to the Economy: The Decision to Work

  • The Decision to Work: Household Production, the Family, and the Life Cycle

  • Compensating Wage Differentials and Labour Markets

  • Investments in Human Capital: Education and Training

  • Worker mobility: Migration, Immigration and Turnover

  • Pay and Productivity: Wage Determination within the Firm

  • Gender, Race and Ethnicity in the Labour Market

  • Unions and the Labour Market

  • Unemployment

  • Inequality in Earnings

  • The Labour-Market Effects of International Trade and Production Sharing

 

Student Engagement Hours

Type Number per Term Duration Total Time

Lectures

15 1.5 22.5

Workshops

5 1.5 7.5

Seminars

5 1.5 7.5
Tutorials 5 1.5 7.5

Total Contact Hours

45.0

Total Guided/Independent Learning Hours

105.0
Total Engagement Hours 150.0
 

Assessment Method Summary

Type Number Required Duration / Length Weighting Timing / Submission Deadline

Exam

1

3 hours

50%

Week 17

Mid-semester test

1

2 hours

20%

Week 9

Group project and presentation

1

2000 words

20 minutes

20%

10%

Week 10

 

Module Outcomes

Intended Learning Outcomes:

  • To understand key economic terminology as used in the field of Labour Economics and to be competent in the reading of field related literature

  • Critically analyse economic constraints and problems and to systematically approach analysis (and perhaps resolution) of such problems.

  • Understand the dynamics of the labour market.

  • Articulate on employers / employees behaviour in the labour market.

  • Describe how wages, prices, profits and working conditions can impact labour market dynamics

  • Evaluate how behavioural economics and migration can relate to the labour market

  • Critically analyse the relationship between wages and productivity

  • To develop ability to challenge current thinking and engage in debates on contemporary issues and topics.

  • Analyse a range of information using and comparing alternative methods and choose the method with the most relevant results.

Teaching and Learning Strategy:

  • Teaching will mostly be done in a lecture format with plenty of real-world examples crucial for understanding the core topics. In addition to the key text book, supplementary resources will be used, including the most recent articles. In this way, students will be able to relate the theoretical part to the current real world issues. (ILO: 1-9)

  •  

  • Project work serves as research/investigation assignment for self-study engagement and for better understanding of current situation in the labour market. It enables students to integrate theoretical concepts with the practical application by analysing popular case studies. (ILO: 1-9)

  •  

  • Tutorials will include appropriate tools and practice problems. Learning is organised and supported to encourage active learning, for example by in-class exercises and supervisor supported study. (ILO: 1-9)

  • In-class participation and discussion will be used to encourage students to actively present their arguments on the important topics from the field of Labour Economics. (ILO: 1-9)

Assessment Strategy:

  • Midterm exam and Final exam (ILO: 1-9)

  • Course projects (ILO:1-9)

  • Continuous assessment (ILO: 1-9)

Practical Skills:

  • Ability to identify problems in the field of Labour Economics and apply various solutions for real-life concerns.

  • To coherently, logically and succinctly advocate positions (not necessarily their own) on employment strategy and policy

  • To explain concepts, problems, possible solutions to unemployment, informal employment and inactivity to both “expert” and lay audiences

  • To listen and appreciate alternative points of view on employment policy, position of labor union and employers’ associations

Teaching and Learning Strategy:

  • Lab exercises with tutor-lead support

  • Individual and group project assignments (PS: 1-4)

  • In-class participation (PS: 1-4)(PS: 1-4)

Assessment Strategy:

  • Midterm exam and Final exam (PS: 1-3)

  • Group project (PS: 1-4)

Transferable Skills:

  • A problem-centered and problem-solving approach

  • Ability to effectively present own point of view

  • Numeracy Skills

  • IT skills

  • Communication Skills: written and oral

  • Presentation Skills

  • Data and facts analyses skills

  • Research Skills

  • Classify data

  • Compare, inspect or record fact

  • Meet deadlines

  • Good time management

  • Organize/manage projects

  • Ability to work independently

  • Ability to work in the team

Teaching and Learning Strategy:

  • Tutorials (TS: 1-10, 14)

  • Group project assignment (TS:1-13, 15)

Assessment Strategy:

  • Midterm exam and Final exam (TS:1-3, 5, 7, 9, 10)

  • Group project assignment (TS:1-13, 15)

  • In-class discussions (TS:1,2,5, 7-10)

 

Key Texts and/or other learning materials

Set text

  • Ronald G. Ehrenberg and Robert S.Smith, (2015) Modern Labor EconomicsTheory and Public Policy, 12th edition, Pearson Education

Supplementary Materials

  • Borjas, G., (2015) Labour Economics, 7th Edition, McGraw-Hill

  • Sloane, P., et al., (2013), Modern Labour Economics, Routledge

  • Thomas, H., (2013), Human Capital and Global Business Strategy, Cambridge University Press

  • Powell, B., (2015), The Economics of Immigration, Oxford University Press

  • Bettio, F., et al., (2015), Gender and the European Labour Market, Routledge

  • Bradley, H., et al., (2008), Ethnicity and Gender at Work: Inequalities, Careers and Employment Relations, AIAA

  • Elsevier, (2017) Journal of Labour Economics,[online], http://www.journals.elsevier.com/labour-economics/open-access-articles (Accessed 14 April 2017).

  • European Association of Labour Economists, (2017) EALE [online], www.eale.nl (Accessed 14 April 2017)

  • MIT, (2016), Lectures in Labour Economics, [online], http://economics.mit.edu/files/4689 (Accessed 14 April 2017)

  • The Economist (2017), Jobs and Labour [online], http://www.economist.com/topics/jobs-and-labour (Accessed 14 April 2017)

Please note

This specification provides a concise summary of the main features of the module and the learning outcomes that a typical student might reasonably be expected to achieve and demonstrate if he/she takes full advantage of the learning opportunities that are provided.

More detailed information on the learning outcomes, content and teaching, learning and assessment methods of each module and programme can be found in the departmental or programme handbook.

The accuracy of the information contained in this document is reviewed annually by the University of Buckingham and may be checked by the Quality Assurance Agency.

Date of Production : April 2017

Date approved by School Learning and Teaching Committee

Date approved by School Board of Study

Date approved by University Learning and Teaching Committee

Date of Annual Review

       
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