Economics 139: Labor Economics
Summer I, 2015
TR 11:00-1:50, PCYNH 120
Dr. Mike Hilmer
Course Description: Operation of labor markets. Labor force participation, unemployment, labor
mobility, wage inflation, the impact of unio
Journal of Economic PerspectivesVolume 14, Number 3Summer 2000 Pages 7594
The Sports Business as a Labor Market
Lawrence M. Kahn
rofessional sports offers a unique opportunity for labor market research.
There is no research setting other than
Economics 139, Labor Economics
TTh 9:30-10:50 p.m.
Center Hall 115
Instructor: Kate Antonovics
Office: Department of Economics, Room 327
Office hours: Wednesdays 2-3pm
Class webpage: tritoned.ucsd.e
Labor Market Equilibrium
Equilibrium in a Single Market
Wages adjust so that the quantity of labor demanded equals the
quantity of labor supplied.
No excess supply (no unemployment)
No excess demand (no vacancies)
A firms decision about how much labor to use in production is
driven by the firms desire to maximize profits.
Firms thinking about whether to hire a worker
Each worker produces a certain amount to output per hour
Measuring the Labor Force
BLS (Bureau of Labor Statistics)
CPS (Current Population Survey)
Monthly survey of approx. 50,000 households.
Questioned about work activities during particular
week of month (the reference week).
E = Employed
1. Suppose that last month there were 250 million people in the civilian noninstitutional population aged 16 and older. In addition, 152 million people were
employed, and 8 million people were unemployed. Given this information, what
was the unemploym