The application of microeconomics to the study of labor markets. The demand for and supply of labor, compensating wage differentials, human capital investment, alternative compensation policies, unions, discrimination, and unemployment.
Additional Requirements for Graduate Students: A course project or additional exam will be required of graduate students.
Athena Title
Labor Economics
Prerequisite
ECON 4010
Semester Course Offered
Offered every year.
Grading System
A - F (Traditional)
Student learning Outcomes
Students will analyze labor market outcomes using microeconomic models of labor supply, labor demand, and equilibrium, and interpret how wages and employment levels adjust to policy and market changes (e.g., minimum wages, immigration).
Students will compute and interpret quantitative measures such as labor elasticities, compensating wage differentials, and returns to education, demonstrating fluency in both algebraic and graphical representations.
Students will critically evaluate empirical research in labor economics by understanding identification strategies, data limitations, and the interpretation of causal effects.
Students will communicate economic reasoning effectively, both verbally and in writing, through problem sets, quizzes, and discussions that integrate theory with policy relevance, sharing ideas, comments, feedback and reflections with one another in class.
Topical Outline
Introduction
The Supply of Labor
The Demand for Labor
Labor Market Equilibrium
Government Interventions
Immigration
Compensating Wage Differentials
Human Capital Investment
Discrimination
The Structure of Compensation
Unions
Institutional Competencies Learning Outcomes
Analytical Thinking
The ability to reason, interpret, analyze, and solve problems from a wide array of authentic contexts.
Critical Thinking
The ability to pursue and comprehensively evaluate information before accepting or establishing a conclusion, decision, or action.
