Labour Economics

COURSE CODE: ECO 524

COURSE NAME: LABOUR ECONOMICS

1. Lecture (L)= 2 per week
2. Tutorial (T)= 1per week

3. Practical (P)= Nil

4. Credits (Cr.)= 3 per week

L/T/P= 2/1/0
 Course Outcomes
• CO1: Demonstrate a sound understanding of the core
concepts and tools of Labour Economics and Policy.
• CO2: Apply economic principles and reasoning to critically
analyse labour market phenomena and contemporary
academic literature.
• CO3: Develop an understanding of the future role work and
jobs in evolving social and economic environments.
 Course Outcomes
• CO4: Communicate their knowledge and understanding of
labour market and related social issues using written, verbal
and visual expression.
• CO5: Critically evaluate government policies affecting work
and jobs.
• CO6: Interpret labour market statistics and the statistical
outputs in academic papers policy reports and broader
economic and social commentary.
 Text Books:

1. Labour Economics, George J. Borjas, 6th ed. , 2013,

McGraw Hill Irwin, online

References:

1. Perspectives on Labour Economics for Development, Edited

by Sandrine Cazes and SherVerick, International Labour
Organization, 2013 Publisher: Academic Foundation, New
Delhi Price: Online available

2. Labour Economics (2nd Edition), Stephen Smith, 3Routledge,

2003
 EVALUATION PARAMETERS

1. Continuous Assessment (CA):

a. Total Number of Assignments = 3
b. All assignments are compulsory.
c. Every CA will be of 30 marks but presentation will be
of 15 marks.
d. Attendance carries 5 marks
 Pointers for Presentation

• Student has to prepare a PPT for the presentation with

detailed notes which have to be submitted to the teacher
prior to the presentation.
• The PPT should not be too exhaustive and extra marks
for choosing offbeat news relevant to the subject.
• Take care about the language used in the presentation
and avoid grammatical errors.
 Details of Weightage

CA Details Weightage

Assignment- case based 43.75

Assignment 43.75

Presentation 12.5
2. Mid-Term Exams (MTE):
• No

3. End Term Exams (ETE):

• ETE consists of 70 marks and are converted into 50
marks
 Marks break up

• CA (All three) 45
• Attendance 05
• ETE 50
• Total 100
 Overview of Course contents of
Labour Economics
1. Introduction to labour economics

2. Labour demand

3. Labour market equilibrium

4. Non-competitive labour markets

5. Compensating wage differential

6. Labour market and developing countries

7. Human capital
8. Wage structure
9. Labour market institutions

10. Labour market discrimination

11. Labour Unions

12. Unemployment
 What is Labour Economics?

Labour economics is the study of the market for labour

services in the economy. The main actors in labour
market were :
Households

Firms

Government
The interaction of decision makers in those markets
are related like this:
Why to study Labour Economics?
 Questions
 Why did the labor force participation of women rise
throughout the past century?
 What is the impact of immigration on the wages and
employment opportunities of native-born workers?
 Do minimum wages increase the unemployment rate
of less-skilled workers?
 List of Resources
 https://www.thebalance.com/labor-definition-types-
and-how-it-affects-the-economy-3305859
 https://www.economicsnetwork.ac.uk/teaching/
Online%20Text%20and%20Notes/Labour
%20Economics%2C%20Employment%20and
%20Unemployment
 https://www.cairn.info/revue-journal-of-innovation-
economics-2014-1-page-205.htm
 https://ec.europa.eu/environment/enveco/
growth_jobs_social/pdf/studies/Study
%20Resource%20labour%20productivity%20.pdf
 Student’s Role
• Students are advised to use instruction plan as
rudder for their course study.
• They are required to submit their assignments
well on time.
• Students are advised to visit the websites and
other reference made in the instruction plan.
• They are required to participate on current news
discussion impacting our economy.
• Newspaper discussion should be a regular
practice.
 How
The above said topics will be
taught with the help of:
1.Power points,
2.Case studies
3.Current updates from
Newspaper
4.Related websites etc.
5.Discussion
6.Questioning.
 Next Class:
Introduction to Labour Economics
Meaning, Basic Concepts and Importance of
Labour Economics