module specification

This module enables students to acquire a systematic knowledge and understanding of economic theory, applications, current issues, policies and empirical evidence in the labour market.

It explores how models and empirical analysis can be applied to evaluate labour market policies, such as the minimum wage, welfare and tax programmes and immigration restrictions.

It examines a wide range of labour market challenges such as gender differences in labour force supply and participation; gender and race pay gaps; discrimination; migration and the development of human capital. This enables students to develop a much deeper understanding of equality issues in labour markets.

It instils an appreciation of the economic dimension of wider social, political, national and international human resource issues.

In this module, equality is promoted by treating everyone with equal dignity and worth, while also raising aspirations and supporting achievement for those students with diverse requirements, entitlements and backgrounds

Students are encouraged to reflect and draw on their diverse socio-cultural backgrounds and educational and work experiences.

A range of transferrable and subject specific skills are developed, in particular: self- assessment and reflection; written and oral communication; subject research; review and evaluation of available literature and evidence; data and quantitative analysis; critical thinking; thinking independently and problem solving.

EC5063 Applied Microeconomics

Introduction: an overview of labour markets

Labour supply: use models of individuals and households and empirical evidence from the UK and US, examine the determinants of labour force participation and the impact of work incentives, recent evidence on employment and unemployment in the UK and US

Female labour force participation and supply: factors influencing it, recent evidence to from the UK and US

Labour demand: considering the level and composition of demand for labour by firms and the link with productivity

Labour market: analysis of impact of minimum wage, taxes, different welfare benefits and external shocks on the labour market in terms of wages and employment, with reference to examples from the UK and US labour markets

Human capital: assessment of the effects of education and training on earnings and labour market outcomes, graduate labour market and recent empirical evidence in the UK and US

Labour migration: examination of recent trends in the UK and US, analysis of impact on native labour market in terms of employment and pay, evaluation of economic costs and benefits to individuals, firms, and the economy

Labour market discrimination: examination of different types of discrimination, analysis of recent empirical evidence on gender and race discrimination in the UK, EU and US, measurement in terms of pay differences and occupational segregation, and the effectiveness of anti-discrimination legislation with reference to the UK and US

Students’ learning is organised around formal direct contact time with the teaching team, and reflective independent learning. Student formal contact time is normally 3 hours per week consisting of 2 hours lectures and 1 hour seminar. Lectures are interactive and deliver core subject knowledge, theory and analysis in labour market economics. Seminars are student centred and emphasise student learning through discussion, solving economic problems, presentation of journal articles and formative feedback.

Individual presentations of journal articles will enable students to review and discuss labour market issues and problems faced by organisations, government policy interventions, and distributional and ethical issues.

Students are expected to complement the 'formal' learning activity with independent reading, engaging with research published in academic journals, participating in class discussions, solving set problems and preparing for coursework.

Professional and transferable skills are developed in lectures and seminars, and through independent directed learning and assessment. Skills development is enhanced through working cooperatively solving economic problems and discussion of journal articles.

The module makes extensive use of blended learning through the use of virtual learning environment platform, WebLearn, where module handbook, lecture slides, seminar questions, coursework brief, assessment and grading criteria, journal articles and other relevant learning materials are available. Links to other online resources, government data bases and videos are also available on Weblearn.

On successful completion of this module students will be able to:

1. Demonstrate a broad knowledge and a systematic understanding of labour market economics covering theory and application with regards to factor influencing demand for and supply of labour.

2. Examine the impact of minimum wage, taxes, welfare benefits and external shocks on equilibrium wage and employment in the labour market.

3. Examine, provide evidence and evaluate qualitative and quantitative data to understand and critically evaluate a wide range of labour market issues with reference to gender differences in labour force participation and supply, gender and racial pay gap, human capital, discrimination and labour migration.

Core Textbook:

1. Borjas, G. (2023). Labour economics, 9th Ed., New York, McGraw-Hill. [This is an E-BOOK. Hard copies available at 331 BOR]

2. Ehrenberg, R.G. and Smith, R.S. (2021). Modern labour economics: theory and public policy,14th Ed., Abingdon, Oxon, Routledge. [This is an E-book. Hard copies are available at 331 HER] Additional Textbooks and Reading:

3. Boeri, Tito and Jan Van Ours (2013). The economics of imperfect labour market, 2nd ed., Princeton, Princeton University Press. [This is an E-book. Hard copies are available at 331.12 BOE].

4. Lazear, Edward P.; Michael Gibbs (2017). Personnel economics in practice. 3rd edition. Wiley. [Hard copies are available at 658.3 LAZ]

5. McConnel, C.R., Brue, S.L. and Macpherson, D. (2021). Contemporary labour economics, 12th Ed., Dubuque, Iowa, McGraw. Hill Education. [Hard copies are available at 331 MCC].

6. Smith, S. (2003). Labour economics, 2nd Ed., London: Routledge. [This is an E-Book. Hard copies are available at 331 SMI].