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This course aims to present a rigorous economic analysis of different aspects of the labour markets and of the related economic policies. This course presents models of how firms make decisions about their need for workers, how workers make labor supply decisions, and how wages and other benefits are determined. This course aims to investigate important labor policy issues using the tools of economics; construct and defend arguments on important issues related to labor economics; assess, and criticize existing empirical work in labor economics.
Work and Leisure Preferences. Labor Supply and Labor Demand. Theories and Practice of Wage Determination, and How Wage Structures and Wage Differentials Develop and Evolve. Macro-institutional Forces Related to Labor, Labor Markets. Wages. Labor Force Participation. Evolution and Change in Labor Markets. Employment and Unemployment. Trends, Measurement and Analyses of Labor Productivity. Labor Mobility. Labor Market Discrimination. The Role of Government and Unions in Labor Markets. The İmpact of the Current Economic Recession on Labor Economic Variables. Salaried Professionals. Monopsony and Monopoly. Efficiency Wage Payments. The Wage Structure and The Theory of Wage Differentials.
Upon succesful completion of this course, a student will be able to
1. Have the ability to apply basic micro-economic tools to Explain the functioning of the labour market.
2. Utilize models that describe the labor market and policy effects.
3. Have the ability to apply micro-economic tools to analyze practical labor market policy and business problems.
4. An awareness of policy debates in labor economics.
5. Demonstrate the knowledge of the important features of the labor markets.
6. Explain the functioning of labor markets and labor market policies.
7. Utilize empirical microeconomic research on issues related to labor.
8. Explain the main changes that have taken place in labor markets.