21032 - PERSONNEL AND LABOUR ECONOMICS FOR MANAGERS
Department of Economics
Course taught in English
Go to class group/s: 31
ACME (6 credits - II sem. - OP | SECS-P/01) - AFC (6 credits - II sem. - OP | SECS-P/01) - AI (6 credits - II sem. - OP | SECS-P/01) - CLELI (6 credits - II sem. - OP | SECS-P/01) - CLMG (6 credits - II sem. - OP | SECS-P/01) - DES-ESS (6 credits - II sem. - OP | SECS-P/01) - DSBA (6 credits - II sem. - OP | SECS-P/01) - EMIT (6 credits - II sem. - OP | SECS-P/01) - ESS (6 credits - II sem. - OP | SECS-P/01) - FIN (6 credits - II sem. - OP | SECS-P/01) - GIO (6 credits - II sem. - OP | SECS-P/01) - IM (6 credits - II sem. - OP | SECS-P/01) - MM (6 credits - II sem. - OP | SECS-P/01) - PPA (6 credits - II sem. - OP | SECS-P/01)
Course Director:
TITO MICHELE BOERI
TITO MICHELE BOERI
Suggested background knowledge
There are no formal prerequisites to attend the course. However, a basic knowledge of microeconomics, macroeconomics, and statistics can help students benefit more fully from the course.
Mission & Content Summary
MISSION
The course provides an understanding of how the labor market works and gives students the tools to analyze human resource management from an economic perspective. Using both theory and data, it explores how firms manage employees and how labor market policies influence individual and organizational behavior. Key topics include employment contracts, hiring and termination decisions, and the design of recruitment and incentive policies. A major focus is on how labor market institutions like unemployment benefits, taxation, employment protection laws, and health and safety standards shape workforce decisions and business strategies.
CONTENT SUMMARY
1. The Labor Market Inside and Outside the Firm
- Why study personnel economics?
- The decision to work and to hire
- From individual choices to aggregate labor supply and demand
- Perfectly competitive labor markets
- Imperfect labor markets: inside and outside the firm
- Key definitions and measurement tools
2. Labor Market Institutions
- Why so many institutions?
- Institutions and competition
- What can we learn from reforms?
3. Core Institutions
- Minimum wages
- Collective bargaining inside and outside the firm
- Workplace discrimination and gender quotas
- Working hours and remote work
- Early retirement
- Work–family reconciliation policies
- Education and on-the-job training
- Employment protection legislation
- Unemployment benefits and active labor market policies
- Workplace safety regulations
Intended Learning Outcomes (ILO)
KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...
By the end of the course, students will learn how economic principles can improve HR management, particularly in hiring strategies, pay structures, and incentives. They will also gain the skills to assess and develop effective personnel policies that balance company goals with employee motivation.
APPLYING KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...
Through case studies, research, and policy analysis, students will build a solid framework to tackle challenges in HR management and labor economics, preparing them for roles in business, consulting, and policy-making.
Teaching methods
- Lectures
- Collaborative Works / Assignments
DETAILS
Lecture slides will be made available to students in advance to facilitate active participation. Class will be interactive, with an emphasis on open discussion and critical engagement with the material. Students will also take part in group presentations based on survey data collected from human resource managers, allowing them to apply theoretical concepts to real-world organizational practices. Additionally, selected sessions will feature guest lectures from HR professionals, offering practical insights into the challenges and strategies of personnel management.
Assessment methods
| Continuous assessment | Partial exams | General exam | |
|---|---|---|---|
|
x | x |
ATTENDING STUDENTS
All students are required to complete a written exam.
Attending students will take two written exams:
- a midterm exam (1 hour, 3 questions) on the first part of the course;
- a final exam (1 hour, 3 questions) on the second part of the course.
Each exam accounts for 50% of the final grade
To pass the course, students must obtain a minimum grade of 18/30 in both exams.
NOT ATTENDING STUDENTS
All students are required to complete a written exam.
Non-attending students will take a single final written exam (2 hours, 6 questions) covering the entire course syllabus.
Teaching materials
ATTENDING AND NOT ATTENDING STUDENTS
- Boeri & Van Ours, The Economics of Imperfect Labor Markets, 3rd edition, 2021, Princeton University Press
- Slides distributed before each lecture
Last change 28/07/2025 10:44