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Labour Economics (ECON40008)

HonoursPoints: 12.5On Campus (Parkville)

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Overview

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Semester 2
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This is an advanced subject in labour economics. Topics to be covered will include: overview of labour market outcomes in Australia; labour supply (including labour force participation, hours of work, and the effects of public policy); labour demand; human capital; labour market discrimination; unemployment; wage determination; earnings distributions; impact of unions. Other topics may include labour market flows (including the analysis of quits and layoffs), immigration, and employment structures within firms. In each topic relevant theory and empirical research (especially relevant Australian studies) will be examined.

Intended learning outcomes

On successful completion of this subject students should be able to:

  • Describe the fundamental features of a labour market, its operation, and role in the economy;
  • Apply relevant microeconomic and macroeconomic theory to explain the main potential determinants of labour market outcomes;
  • Critically evaluate empirical evidence on the operation of labour markets, and on the main determinants of labour market outcomes;
  • Formulate simple theoretical models of the operation of the labour market, and design strategies for empirically testing theories

Generic skills

  • High level of development: application of theory to practice; interpretation and analysis.

  • Moderate level of development: oral communication; written communication; problem solving; statistical reasoning; critical thinking; synthesis of data and other information; evaluation of data and other information; use of computer software; accessing data and other information from a range of sources; receptiveness to alternative ideas.

  • Some level of development: collaborative learning; team work.

Last updated: 14 January 2025