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London School of Economics and Political
Science (LSE)
Modules
15
Economics of Labour
Prerequisite – 28 Managerial
economics or
66 Microeconomics
Labour supply
Labour demand
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labour demand as derived demand for
goods and services, determinants of the sensitivity of the demand
for labour with respect to the wage (assuming firms take wages as
given)
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wage structure and its determination
– market mechanisms, market clearing and efficiency
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evidence on changes in wage structures
over time, skilled versus unskilled, men versus women etc.
Policy issues and labour market dynamics
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why wage differentials exist amongst
similar workers: information aspects and labour market friction's;
dynamic monopsony, efficiency wages, discrimination, search and
matching models, evidence.
- Institutional aspects of labour markets,
trade unions and professional associations, minimum wages, equal
pay acts etc.
- Determinants of unemployment and potential
policies: job subsidies/in work benefits, active labour market policies,
work sharing.
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