Course Description:

Introduction to microeconomic and macroeconomic models of labor markets where information is asymmetric, agents behave strategically, and firms have market power. Application of theoretical models to real-world issues such as minimum wages and the future of work. Independent student research.

Learning objectives:

-      Gain confidence with constrained maximisation

-      Work with labor market models and understand their application to real-world issues

-      Gather information and prepare for post-graduation job search

-      Conduct student-led research using BLS data

Requisite courses: 11, 101. (Econ 103 – econometrics - is an optional pre-req. You will be fine if you have not taken it, but it is good background knowledge).

Textbook:

The Economy, by the CORE Econ team

• The Economy 2.0 Microeconomics,. This textbook is available for free online, here: http://core- econ.org/the-economy

• The Economy 2.0 Macroeconomics. The 2nd  edition of the macro units has not yet been published but I will provide lecture slides that cover the required material.

• The Economy (1st edition) - available for free online, here: http://core-econ.org/the-economy/v1/

Outline of Topics and Related Readings:

1. Working hours (2.0 Microeconomics, unit 3)

2. The firm and its employees (2.0 Microeconomics, unit 6)

3. The supply side – unemployment and real wages (2.0 Macroeconomics, unit 1)

4. Supply side policies, institutions and inequality (2.0 Macroeconomics, unit 2)

5. Technological progress, employment and living standards in the long-run (1.0 unit 16)

Possible data sources:

https://www.bls.gov/oes/current/oes_nat.htm

https://www.bls.gov/bls/blswage.htm

www.indeed.com/career/salaries

https://www.glassdoor.com

https://www.builtinla.com

Your CV should be 1 page in length. The other requirements should take around three pages. Each section should be clearly labelled with a sub-heading. Include a cover page with your name, student ID and the name of the occupation you have chosen. (If the name you go by is different from the name on the roster, please include both names so we can match you to the roster). References or a bibliography are not required.

BLS Assignment

The Bureau of Labor Statistics (BLS) publishes ajournal called the Monthly Labor Review. They are currently  piloting a student version of this journal, called the Student Monthly Labor Review (SMLR). Your assignment is to write a research paper that fulfils the requirements for submission to the Student MLR. After completing the assignment, you can submit it to BLS if you want to. This assignment is optional groupwork – you should submit it in “groups” of 1 to 4 students (use the discussion forums on bruin learn to form groups if you want to).

Papers should be 5 to 10 pages in length and original data analysis is required.

Papers can include ◦ a description of emerging trends ◦ an innovative research or new ways of looking at data ◦ an interesting economic observation or ◦ a new method or methodology

-      A fact sheet is available on bruin learn.

-      BLS will host a webinarabout this project (probably in January) to provide further information.

-      The grading criteria for the assignment for this class will be provided (for the outline and the finished paper)

Policies:

MISSED EXAMS and LATE ASSIGNMENTS:

Exams must betaken at their scheduled time. If a student misses an exam due to a verifiable emergency, they should contact the instructor. Assignments are due in class on the date given above. Late assignments will lose 10% of the total possible grade each day they are late.