EC6063 - Issues in Labour Markets (2026/27)
| Module specification | Module approved to run in 2026/27 | ||||||||||
| Module title | Issues in Labour Markets | ||||||||||
| Module level | Honours (06) | ||||||||||
| Credit rating for module | 15 | ||||||||||
| School | Guildhall School of Business and Law | ||||||||||
| Total study hours | 150 | ||||||||||
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| Assessment components |
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| Running in 2026/27(Please note that module timeslots are subject to change) |
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Module summary
This applied module examines contemporary issues and challenges in labour markets, drawing on recent empirical research and policy debates.
It blends theoretical insights with real-world applications, analysing how firms design incentive systems, how trade unions influence wage outcomes, and how broader economic forces such as globalisation, migration and technological change and artificial intelligence (AI) are reshaping work.
This module enables students to acquire a systematic knowledge and understanding of economic theories, applications, current issues, policies and empirical evidence in the labour market.
It develops the ability to think independently about labour market issues; apply economic principles and analysis in a variety of contexts to the labour market, business and government and drawing on the models and tools developed.
It examines a wide range of labour market challenges such worker recruitment, retention, pay, reward, wage differentials, income inequality, gender and race pay gaps, and trade unions,
The aims of this module are:
1. You will examine a wide range of labour market challenges such labour recruitment, retention, pay, compensation, shirking, wage differentials, income inequality and collective bargaining by trade unions.
2. You will critically assess how gender, ethnicity, race and occupational segregation create inequality in labour market outcomes in terms of pay, employment and unemployment.
3. You will develop an appreciation of the economic dimension of social, political, national and international human resource issues.
4. You will be encouraged to reflect and draw on your socio-cultural backgrounds, education and work experiences.
Prior learning requirements
NA
Available for Study Abroad? YES
Syllabus
Personnel economics: LO1 and LO4
Examination of different labour market contracts and compensation methods, worker motivation and effort, monitoring, shirking, retention, promotion, efficiency wages, and analysis of recent empirical evidence in the UK and US.
Wage differentials: LO2 and LO4
Examination of impact of changes in labour supply and demand; human capital; technological advances; globalisation; collective bargaining; and institutional factors such as tax and welfare policies on wage differentials using empirical evidence in the UK.
Analysis of how technological change, especially Artificial Intelligence (AI), affects labour demand, job quality, types of skills and occupations.
Labour market discrimination: LO3 and LO4
Definition and different types of discrimination in labour market.
Theory of discrimination using the “Taste model”.
Critical evaluation of recent trends in gender and race inequality in labour market outcomes with respect to pay gaps, employment and unemployment in selected countries such as the UK, USA and EU.
Occupational and industrial segregation and anti-discrimination legislation in selected countries such as the UK, USA and EU.
Collective bargaining and trade unions: LO3 and LO4
Analysis of recent trends in trade union membership, composition, power and regulation in the UK.
Theoretical models of union behaviour, bargaining and wage setting.
Impact of trade unions and collective bargaining on labour market in terms of employment, pay, productivity, strike action and economic performance.
Balance of independent study and scheduled teaching activity
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 of labour market issues. Seminars are student centred and emphasise student learning through discussion, solving economic problems and formative feedback.
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, conducting research and preparing for coursework.
Transferable skills are developed in lectures and seminars, and through independent directed learning and assessment.
The module makes extensive use of blended learning through the use of virtual learning environment platform, WebLearn, where module handbook; lecture recordings; lecture slides; seminar questions; guideline answers to seminar questions; assessment strategy; assessment and grading criteria; coursework brief and other relevant learning materials are available. Links to other online resources, government data bases and videos are also available on WebLearn.
A feed-forward strategy is used to provide early feedback to students to improve their final coursework submission. Use of the feed-forward strategy and class discussion of detailed grading and assessment criteria create an opportunity for dialogue between students and staff and promote shared understanding of the basis on which academic judgements are made.
Students are encouraged to reflect and draw on their diverse socio-cultural backgrounds, education and work experiences and demonstrate cultural, ethical and socioeconomic awareness in their coursework assessment, where appropriate.
As part of the assessment, students are required to apply Artificial Intelligence to a range of concepts and evaluate its implications.
Students will be encouraged to engage with the career development and employment skills resources within London Metropolitan's Gateway to Success Weblearn unit.
Learning outcomes
On successful completion of this module students will be able to:
1. Demonstrate an in-depth understanding of theories, issues, problems and policies in economics of human resources with respect to labour recruitment, retention, shirking, pay, compensation and reward.
2. Use qualitative and quantitative evidence and economic reasoning to critically evaluate the impact of changes in demand for and supply of labour; technological development and Artificial Intelligence; globalisation; education; trade unions and institutional factors on labour market outcomes.
3. Examine, provide evidence and evaluate qualitative and quantitative evidence to understand and critically evaluate occupational segregation, gender and ethnic/race inequality and the impact of collective bargaining by trade unions in the labour market.
4. Develop a range of transferrable and subject specific skills: subject research; written communication; review and evaluation of available literature and evidence; data and quantitative analysis; critical thinking and problem solving; and ethical, socioeconomic and cultural awareness; and reflect on your socio-cultural backgrounds, education and work experiences.