Economics of Labour Markets: Theory and Policy Analysis

Course Description

This comprehensive 5-day course explores the economics of labour markets, focusing on theoretical models, empirical evidence, and policy implications. Participants will gain a deep understanding of labour supply and demand, wage determination, human capital investment, and the impact of various labour market policies and institutions.

Learning Objectives

• Analyze labour supply and demand dynamics using economic models
• Evaluate the determinants of wage differentials and income inequality
• Assess the economic impact of labour market policies and institutions
• Apply economic theory to real-world labour market issues and policy challenges
• Interpret empirical evidence on labour market outcomes and trends

Course Modules

Day 1: Labour Market Fundamentals

• Introduction to labour market economics
• Labour supply theory and empirical evidence
• Labour demand theory and firm behavior
• Labour market equilibrium and wage determination

Day 2: Human Capital and Wage Differentials

• Human capital theory and returns to education
• On-the-job training and skill acquisition
• Compensating wage differentials
• Labour market discrimination theories

Day 3: Labour Market Institutions and Policies

• Minimum wage laws and their effects
• Unions and collective bargaining
• Unemployment insurance and social safety nets
• Active labour market policies

Day 4: Labour Mobility and Migration

• Internal migration and regional labour markets
• International labour migration
• Job search theory and frictional unemployment
• Technological change and labour market dynamics

Day 5: Contemporary Labour Market Issues

• Gender gaps in labour force participation and earnings
• The gig economy and non-standard employment
• Automation and the future of work
• Labour market impacts of globalization

Practical Wins for Participants

• Ability to analyze and interpret labour market data and trends
• Enhanced understanding of policy trade-offs in labour market interventions
• Improved capacity to evaluate the effectiveness of labour market programs
• Developed skills in applying economic theory to real-world labour issues