|LEVEL||04 - Years 4, 5 in Modular UG or PG Cert Course|
|DESCRIPTION||The study-unit deals with the operation of labour markets and how government policy and unions can influence the labour market. The explanations will be based on theoretical perspectives and empirical findings. Topics to be covered include definitions of unemployment, labour demand and labour supply interactions, wage determination, disequilibrium in the labour market, labour market frictions, human capital, the role of unions, bargaining theories and active market policies.
1. Knowledge & Understanding: By the end of the study-unit the student will understand the following concepts:
1. Labour market concepts, labour demand, labour supply, deficient demand unemployment, frictional unemployment, other forms of unemployment.
2. Labour market statistics.
3. Factors affecting labour demand.
4. Factors affecting labour supply.
5. Labour market equilibrium.
6. The wage adjustment function with and without not market forces.
7. Market disequilibrium and the Phillips curve.
8. Policies that address deficient demand unemployment.
9. Human Capital.
10. Search Unemployment.
11. Labour Market Discrimination.
12. The role of Unions and bargaining theories.
13. Active market policies.
2. Skills: By the end of the study-unit the student will be able to:
- demonstrate how labour markets operate in theory and to apply such theory to real world labour markets.
- use labour market data to assess the factors that influence labour demand, labour supply and wage rate changes.
- explain the role of unions and other institutional factors on the labour market.
Main Text/s and any supplementary readings
- Ehrenberg, R.G., Smith, R. (2011) Modern Labor Economics: Theory and Public Policy.
- Sapsford, D., Tzannatos, D. (1993) The Economics of the Labour Market.
- Bosworth, D., Dawkins,P. and Stromback. T. (1996) Economics of the Labour Market.
- NSO (Malta) Labour Force Survey – latest edition.
|STUDY-UNIT TYPE||Lecture and Tutorial|
|METHOD OF ASSESSMENT||
The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints.
Units not attracting a sufficient number of registrations may be withdrawn without notice.
It should be noted that all the information in the study-unit description above applies to the academic year 2017/8, if study-unit is available during this academic year, and may be subject to change in subsequent years.