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ECO723Social Sciences2 Unitsintermediate

Labour Economics

This course introduces students to traditional and contemporary topics in labor economics. It develops an analytical framework for issues and policies related to the labor market, providing an overview of institutional aspects and recent trends. The course examines labor demand and supply, wage determination, and employment discrimination. It also covers government policies on wage setting, unemployment, education, and retraining, focusing on interactions between workers, firms, and the government.

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156h

Study Time

13

Weeks

12h

Per Week

intermediate

Math Level

Course Keywords

Labor SupplyLabor DemandWage DiscriminationLabor UnionsMinimum Wage

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level

Builds on foundational knowledge

65%

intermediate

📊

Math Level

Moderate Math

📖

Learning Type

Theoretical Focus

Course Topics

Key areas covered in this course

1

Labor Supply

2

Labor Demand

3

Human Capital

4

Wage Determination

5

Labor Unions

6

Wage Discrimination

7

Minimum Wage Laws

8

Welfare Reform

9

Trade Union Policies

Total Topics9 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assessments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Labor Economist

Apply your skills in this growing field

Human Resources Manager

Apply your skills in this growing field

Compensation Analyst

Apply your skills in this growing field

Policy Analyst

Apply your skills in this growing field

Market Research Analyst

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

Government AgenciesConsulting FirmsLabor UnionsResearch InstitutionsPrivate Sector Companies

Study Schedule Beta

A structured 13-week journey through the course content

Week

1

MODULE ONE: The Supply of Labour and Accumulation of Human Capital

2h

Unit 1: Concept of Supply of Labour

2 study hours

•Read Unit 1: Concept of Supply of Labour
•Define labor supply and its key determinants.
•Discuss the factors influencing an individual's decision to participate in the labor force.

Week

2

MODULE ONE: The Supply of Labour and Accumulation of Human Capital

2h

Unit 2: Income and Substitution Effects

2 study hours

•Read Unit 2: Income and Substitution Effects
•Analyze the impact of wage changes on labor supply decisions.
•Differentiate between the income and substitution effects and their implications for labor supply.

Week

3

MODULE ONE: The Supply of Labour and Accumulation of Human Capital

2h

Unit 3: Human Capital Investments

2 study hours

•Read Unit 3: Human Capital Investments
•Define human capital and its role in labor economics.
•Discuss the different types of investments in human capital and their impact on productivity.

Week

4

MODULE ONE: The Supply of Labour and Accumulation of Human Capital

2h

Unit 4: Is Education a good Investment?

2 study hours

•Read Unit 4: Is Education a good Investment?
•Evaluate the economic returns to education.
•Analyze the factors influencing the decision to invest in education and its implications for labor market outcomes.

Week

5

MODULE TWO: Demand for labour in competitive and non-competitive markets

2h

Unit 1: Demand for Labour when market is competitive

2 study hours

•Read Unit 1: Demand for labour when market is competitive
•Explain the concept of derived demand for labor.
•Analyze the factors influencing the demand for labor in competitive markets.

Week

6

MODULE TWO: Demand for labour in competitive and non-competitive markets

2h

Unit 2: Labour demand when market is non-competitive

2 study hours

•Read Unit 2: Labour demand when market is non-competitive
•Discuss the characteristics of non-competitive labor markets.
•Analyze the factors influencing labor demand in imperfectly competitive markets.

Week

7

MODULE TWO: Demand for labour in competitive and non-competitive markets

2h

Unit 3: Monopsony in the labour market

2 study hours

•Read Unit 3: Monopsony in the labour market
•Define monopsony and its implications for labor market outcomes.
•Analyze the effects of monopsony power on wages and employment levels.

Week

8

MODULE THREE: Labour unions and the determination of equilibrium wages

2h

Unit 1: Evolution of unions and collective bargaining

2 study hours

•Read Unit 1: Evolution of unions and collective bargaining
•Discuss the historical development of labor unions.
•Explain the process of collective bargaining and its role in wage determination.

Week

9

MODULE THREE: Labour unions and the determination of equilibrium wages

2h

Unit 2: Determination of equilibrium wages

2 study hours

•Read Unit 2: Determination of equilibrium wages
•Analyze the factors influencing equilibrium wage levels.
•Discuss the role of labor unions in wage determination.

Week

10

MODULE FOUR: Wage Discrimination (Gender, Race, and Inequality in Earnings)

2h

Unit 1: Why Wage differentials exist amongst similar workers

2 study hours

•Read Unit 1: Why Wage differentials exist amongst similar workers
•Identify the sources of wage differentials among similar workers.
•Discuss the factors contributing to wage inequality in the labor market.

Week

11

MODULE FOUR: Wage Discrimination (Gender, Race, and Inequality in Earnings)

2h

Unit 2: Theories of market discrimination

2 study hours

•Read Unit 2: Theories of market discrimination
•Explain the different theories of labor market discrimination.
•Analyze the economic effects of discrimination on wages and employment.

Week

12

MODULE FOUR: Wage Discrimination (Gender, Race, and Inequality in Earnings)

2h

Unit 3: Policies to end Discrimination

2 study hours

•Read Unit 3: Policies to end Discrimination
•Evaluate the effectiveness of policies aimed at reducing labor market discrimination.
•Discuss the challenges in implementing anti-discrimination policies.

Week

13

MODULE FIVE: Labour Policies

6h

Unit 1: Minimum Wage Laws

2 study hours

•Read Unit 1: Minimum Wage Laws
•Define minimum wage laws and their objectives.
•Analyze the economic effects of minimum wage laws on employment and wages.

Unit 2: Labour Welfare Reform

2 study hours

•Read Unit 2: Labour Welfare Reform
•Discuss the goals and objectives of labor welfare reform.
•Analyze the impact of welfare reform on labor market participation and poverty rates.

Unit 3: Trade Union Policies

2 study hours

•Read Unit 3: Trade Union Policies
•Explain the different types of trade union policies.
•Analyze the impact of trade union policies on wages, employment, and working conditions.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Review the core concepts of labor supply and demand, focusing on the factors that shift these curves.

2

Create concept maps linking Units 3-5 database concepts.

3

Practice applying labor market models to analyze the effects of minimum wage laws and other policies.

4

Focus on understanding the different theories of wage discrimination and their policy implications.

5

Review all key terms and definitions from each unit, creating flashcards for quick recall.

6

Allocate specific time slots for focused study sessions, avoiding distractions.

7

Prioritize topics based on their weight in the final examination, as indicated in the course guide.

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