Economics of Imperfect Labor Markets

Lecture | BSc | 2 hrs | 3 cr | Schwerdt | engl. | ILIAS | ZEuS

Lecture

Wednesday, 10:00 - 11:30, G227a

Course Description

The course puts a focus on labor market institutions and labor market policy. Emphasis will be placed on how public policy affects efficiency on labor markets and on the redistributive properties of institutions operating in imperfect labor markets, subject to market failures. Topics of interest include: minimum wages, unions, anti-discrimination legislation, regulation of working hours, early retirement, family policies, education, migration policies, EPL, unemployment benefits, active labor market policies and payroll taxes. For each institution, the courses presents and discusses the main definitions, available measures, stylized facts, relevant theories, empirical evidence on the causal effects on outcomes of interest, as well as current policy issues. After completion of the course, a student should be able to evaluate how changing economic conditions and public policy will affect the labor market, individuals and businesses.

Outline

1. Introduction
2. Theoretical Framework
3. Econometric Toolbox
4. Minimum Wages
5. Regulation of Working Hours
6. Equilibrium Unemployment Theory
7. Unemployment Benefits
8. Unions and Collective Bargaining
9. Education and Training
10. Employment Protection Legislation
11. Anti-Discrimination Legislation
12. Active Labor Market Policies

Prerequisites and Assessment

Students should have a solid background in microeconomics and econometrics. Assessment will be based on a final exam. The exam will be in written form.

Syllabus and Course Material

For literature and materials see the syllabus.

You have access to the course material via ILIAS.  A password will be provided in the first lecture.