30147 - THE ECONOMICS OF IMPERFECT LABOUR MARKETS
CLEAM - CLEF - BESS-CLES - BIEMF
Course taught in English
Go to class group/s: 31
This course is an introduction to labour economics. The course objective is to understand how labour markets work and how they are affected by institutions and labour market policies. Both empirical evidence and standard theory are covered. The course highlights the effects on efficiency and the redistributive properties of institutions operating in imperfect labour markets, subject to market failures. This provides three reasons for the existence of institutions: i) remedying market failures, ii) achieving some redistributive goals, and iii) remedying potential negative side effects of other institutions.
- Labour supply, labour demand and labour market equilibrium.
- Minimum Wages.
- Unions and Collective Bargaining Institutions.
- Anti-Discrimination legislation.
- Regulation of Working Hours.
- Early Retirement Plans.
- Family Policies.
- Education and Training.
- Migration Policies.
- Employment Protection Legislation.
- Unemployment Benefits.
- Active Labour Market Policies and Activation.
- Payroll Taxes.
The exam is in written form, notably a one-hour written exam with 2-3 questions, carrying each the same weight on the final grade. There is a midterm exam covering the first half of the course and a final exam covering the remaining half. Those not passing the midterm exam will have to take a general exam covering both parts (with 4 to 6 questions and lasting two hours).
t. boeri, j. van ours, The economics of imperfect labour markets, Priceton University Press, 2nd edition .
- G. Borjas, Labour Economics, McGraw-Hill International edition, 6th edition.
The technical level required by the course is modest. Attending students should have taken an introductory course in microeconomics, a semester of calculus and an introductory course in statistics. In any event a numeric and geometric treatment of many key results is offered to ease the understanding of how institutions operate. In such simpler treatment, all the main arguments are presented and the main results outlined, even though they lack the rigor and the generality that the use of algebra allows.