Topics: Labour economics, Labor, Jacob Mincer Pages: 11 (2459 words) Published: April 8, 2013
2013 Unit Guide Template
[ECW 2141]
[Labour Economics]

Topics include the supply of and the demand for labour, education and training, the operation of labour markets, including the role of institutions in the labour market, wage relativities, disadvantaged groups in the labour market, and the role of trade unions. Also included is a study of issues related to hiring and payment decisions made by firms. Special attention is given to the current labour market conditions The unit provides an opportunity to apply the study of economics to understand real world problems. Mode of Delivery| On campus |

Workload requirements| Unit is worth 6 credit points|
Unit Relationships| |
Prerequisites| ECW 1101|
Co-requisites| |
Prohibitions| |
Chief Examiner(s)| Gareth Leeves|
Unit Coordinator(s):If there is more than one unit coordinator, include their details| Gareth Leeves| Campus:| Sunway|
Phone:| 5514 6279|
Office hours:| |
Campus Coordinator | Svetlana Maslyuk|
Campus:| Gippsland|
Phone:| 990 26676|
Office Hours:| |
| |
Campus Coordinator | Lionel Frost |
Campus:| Berwick |
Phone:| 990 47068 |
Email:| |
Office Hours:| |
| |
Campus Coordinator | Derick Blaauw |
Campus:| South Africa |
Phone:| +27 11 559 3799|
Office Hours:| |
Tutor(s)| To be notified|
Campus:| |
Phone:| |
Email:| |
Consultation hours:| |

Learning Outcomes
. Unit objectives
On completion of this unit students should be able to:
• understand the operation of labour markets by drawing on basic economic principles; • think critically about the implications of labour market activity for society; • recognise the issues involved in labour market activities through a consideration of issues such as unemployment and labour market disadvantage; • apply analytical skills developed through an analysis of continuing change in the labour market and labour market policy.

Graduate Attributes
Monash prepares its graduates to be:
1. responsible and effective global citizens who:
a. engage in an internationalised world
b. exhibit cross-cultural competence
c. demonstrate ethical values
2. critical and creative scholars who:
a. produce innovative solutions to problems
b. apply research skills to a range of challenges
c. communicate perceptively and effectively


Week| Activities| Assessment|
0| | No formal assessment is undertaken in week 0|
1| Introduction and Overview Labour Supply I| McConnell, Brue and Macpherson, Chapter 1 and Chapter 3| 2| Labour Supply II| McConnell, Brue and Macpherson, Chapter 2 Norris, K., Kelly R. and Giles, M., Chapter 2, for Australian perspective. Additional reading:| 3| Labour Quality: Investing in Human Capital| McConnell, Brue and Macpherson, Chapter 4Additional reading; Daly and Lewis (2010), “The Private Rate of Return to an Economics Degree: An Update”, Economic Papers.| 4| The Demand for Labour| McConnell, Brue and Macpherson, Chapter 5| | Mid-Semester Break| |

5| Mid-semester Examination| |
6| Recruitment and Hiring| Lazear and Gibbs Chp 1 and 2| 7| Wage Determination and Pay Schemes| McConnell, Brue and Macpherson, Chapter 6 and Chapter 7Lazear and Gibbs Chp 10 and Chp 11Additional reading: Bowl and Ransom (2010), “Monopsony in American Labor Markets, EH.Net Encyclopedia, edited by Robert Whaples. January 23, 2002. URL| 8| The Wage...
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