Lecture 1 Introduction, key concepts, overview.pdf - International Labour Markets Spring 2018 Peter Jensen Department of Economics and Business Aarhus

Lecture 1 Introduction, key concepts, overview.pdf -...

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1 International Labour Markets Spring 2018 Peter Jensen Department of Economics and Business Aarhus University Introduction, key concepts, overview About the course: aim, structure, etc. Introduction to labor economics Overview of the labor market (key concepts, theory) Literature: Chapters 1 and 2 in “Modern Labor Economics”
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2 Aim of the course Provide a review of how economists address labor market questions Develop intuition and skills in applying microeconomic analysis to the labor market Primary focus of this course will be on developing an understanding of the determinants of wage rates and employment levels in labor markets Analytical tools of labor economics will be used to examine such contemporary policy issues as minimum wage laws, educational investments, worker mobility and migration, and labor market discrimination. Structure of the course FORMAT 8 double lectures followed by 1 month of preparation of seminar papers that are presented and commented upon at a “ mini- conference”, after which there is 2 weeks to revise and hand in the final version of your papers COURSE REQUIREMENT Seminar paper on a chosen topic, written by one or more students (max 3 per group), plus presentation of it at the mini-conference (including peer feedback on other papers) EVALUATION 50% weight is given to in-class presentation of the paper at the mini-conference (plus peer feedback on other papers); 50% weight is given to the revised final paper
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3 Preliminary schedule NO. WEEK TOPIC 1 Week 6 Introduction, key concepts, overview 2 Week 7 Labour demand, minimum wages 3 Week 8 Labour supply 4 Week 9 Wages 5 Week 10 Human capital, education and training 6 Week 11 Migration 7 Week 12 Discrimination 8 Week 14 Unemployment Literature Main text: Ehrenberg and Smith: Modern Labor Economics - Theory and Public Policy, 13 th edition Supplementary text: (not compulsory) Boeri and van Ours: The Economics of Imperfect Labor Markets Slides of the lectures on Blackboard (provided before or shortly after the day of the class) Journal articles and working papers necessary for writing your seminar paper
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4 What is Labor Economics? Market economies rely on markets to allocate scarce resources (goods and services) Why do we need labor economics? Refinements are needed because labor markets involve people and not products Asymmetric information about workplaces, workers, work Observed and unobserved heterogeneity In labor markets, labor is supplied by households and demanded by firms. These are the opposite of the roles that are played by households and firms in product markets.
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