| Unit description | This is a unit in the economics of the labour market. It deals with some of the most fascinating and practical questions in economics, questions such as the following. How do firms use their remuneration systems to motivate their employees to work hard? When and why do employers and employees want a ‘long-term relationship’? What are deferred compensation systems? What are internal labour markets and why do some firms run them? Why do some firms structure executive salaries to mimic the monetary payoff structure of a sporting tournament? Is investing in a university degree a good idea? Why do firms invest in training their employees? Who ultimately pays for this investment; the employer or the employee? How can asymmetric information lead to discrimination in the labour market? How would we measure such discrimination? Has the demand for labour in recent years resulted in job polarisation; that is, in the creation of ‘lovely’ jobs and ‘lousy’ jobs? This unit explores these issues and much more. |
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