| Weeks | Lecture Topics & Key Dates |
| 1 | LECTURE 1:INTRODUCTION TO THE STUDY OF LABOUR MARKETSTopics covered include; what is modern labour economics, schools of thought in labour economics, is labour fundamentally different from other commodities, labour market processes and labour market outcomes.Readings:Kaufman & Hotchkiss (hereafter K & H) Ch.1Garvey, G. T. (1994) “Why labour is not different?” Agenda, 1(1), pp 5-12 |
| 2 & 3 | Tutorials begin in week 2 (relax, your tutor will lead the first tutorial)LECTURES 2 & 3:LABOUR SUPPLY IN THE SHORT-RUNTopics covered include; the neoclassical theory of short-run labour supply, applications and criticisms of the theory and a look at some evidence on the Australian labour supply.Readings:K&H Ch.2 pp 44-62 and pp71-94. & Ch.3 pp114-150 and pp156-158Norris et al Ch 2, optional reading |
| 4 & 5 | WITHIN SESSION MULTIPLE CHOICE CLASS TEST HELD IN NORMAL TUTORIAL TIME WEEK 5LECTURES 4 & 5:LABOUR DEMAND: SHORT RUN & LONG RUNThis topic presents and critically evaluates the neoclassical theory of labour demand in the short-run and long-run. Modified models of labour demand are also considered. The lecture also examines the hypothesis that labour demand has become polarised, with growth occurring mainly at the top and bottom of the skill distribution.Readings:K&H Ch.4 pp172-204 & Ch.5 pp217-244Goos, M, Manning, A, and Salomons, A. (2009), ‘Job Polarisation in Europe’, American Economic Review: Papers and Proceedings, 99(2), pp58-63.Norris et al Ch 3 optional reading |
| 6 & 7 | LECTURES 6 & 7HUMAN CAPITAL THEORY AND THE QUALITATIVE DIMENSION OF LABOUR SUPPLYThis topic looks at the human capital account of investment in education and on-the-job training. It also explores the education/earnings relationship from both an empirical and theoretical perspective.Readings:K&H Ch.7 pp326-340 and pp351-368Norris et al Ch 4 optional reading |
| | Mid session break |
| 8 | LECTURE 8:THE DETERMINATION OF WAGES UNDER PERFECT COMPETITION. THE ECONOMICS OF THE MINIMUM WAGE.Examination will be made of the wage determination under competition. The rationale and economic consequences of government determined minimum wages will also be explored.References:K & H Ch 6 pp260-294.Dowrick, S. and Quiggin, J. (2003), A survey of the literature on minimum wages, February 2003 [http://ecocomm.anu.edu.au/people/info/dowrick/Minimum-Wage.pdf] |
| 9 & 10 | Compulsory essay due week 10, Tuesday October 13, 2pm, via econ244 box at BESS LECTURES 9 & 10:EMPLOYEE MOTIVATION AND COMPENSATION. COMPENSATION IN EXECUTIVE LABOUR MARKETS (THE THEORY OF TOURNAMENTS) This topic looks at issues surrounding the control of worker effort via payment schemes and other mechanisms. More specifically, piece rates versus time rates, and the theory of deferred-payment schemes. These lectures also examine compensation in executive labour markets via Tournament Theory. Empirical evidence in relation to all these issues is discussed.Readings: ** these references, and the detailed lecture slides, are the references you need to read for this topic. The others are purely optional and are included for the benefit of students who would like to go more deeply into this topic.**K&H Ch 10 pp505-511, pp530-534, pp552-555. Ch 7 pp367-368. Norris et al pp 102-103.Paul Milgrom & John Roberts (1992) Economics, Organization and Management. Englewood Cliffs: Prentice Hall. Ch.12 &13.Ehrenberg & Smith Ch.11Lazear, E. P. (1998) Personnel Economics for Managers. New York: Wiley. Chs 5, 9 & 11Lazear, E. P (1999) “Personnel Economics: Past Lessons and Future Directions”, Journal of Labor Economics, 17(2), 199-236.Lazear, E. P (2000a) “The Future of Personnel Economics”, Economic Journal, 110(Nov.), F611-639.Lazear, E. P (2000b) “Performance Pay and Productivity”, American Economic Review, 90(5),1346-61.Chang, C & Miller, P (1996) “Incentive Effects in the Australian Labour Market: An Application of the Lazear and Moore Model”, Australian Economic Papers, (June), 114-127.Lazear, E. P. & Moore, R. L. (1984) “Incentives, Productivity and Labor Contracts”, Quarterly Journal of Economics, (May), 275-296.Hutchens, R. (1987) “A Test of Lazear‟s Theory of Delayed Payment Contracts”, Journal of Labor Economics, 5(4, part2), S153-S170. |
| 11 | LECTURE 11:OCCUPATIONAL WAGE DIFFERENTIALS: THEORY, APPLICATIONS AND EVIDENCEThe classical and hedonic theories of compensating wage differentials will be presented and assessed. The hedonic theory will be applied to an examination of issues such as occupational health and safety, the growth of fringe benefits and the work/family-life balance debate. The lecture will also examine and appraise the empirical evidence relating to compensating wage differentials.References:K & H Ch 8 pp387-418 and pp431-434 |
| 12 | LECTURE 12:INTERNAL LABOUR MARKETS AND JOB STABILITYThis lecture examines the theory of internal labour markets. The origin of this theory by the institutional school in the USA will be briefly examined. The theory will also be used to reflect upon the ‘changing nature of the employment relationship’ debate that has been occurring in recent years.Readings:K & H Ch 6 pp295-300Dobbie and MacMillan (2010) ‘Internal Labour Markets in Australia: Evidence from the Survey of Education and Training’, Australian Journal of Labour Economics 13(2):137-154 Norris et al Ch 5, optional reading |
| 13 | LECTURE: 13DISCRIMINATION IN THE LABOUR MARKETThis lecture examines the causes and consequences of discrimination in the labour market. The measurement of discrimination in wages is outlined, as are recent trends in gender based wage discrimination.Readings:K & H Ch.9 pp447-450, pp461-480Norris et al Ch 7, optional reading Smith, S. (1994), Labour Economics, Routledge, Chapter 5. |
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