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Principles of microeconomics
Course overview
Intermediate micro theory
Course overview
Labour economics
Course overview
1. Introduction
What labour economics studies
Measuring the labour market
Regression and natural experiments
2. Labour supply
The work-leisure choice
Income and substitution effects
Labour force participation and the reservation wage
The labour supply curve and its elasticity
Welfare programs and work incentives
Labour supply over the life cycle and the business cycle
3. Labour demand
Short-run labour demand
Long-run labour demand
Elasticity of labour demand
Overtime regulation
4. Labour market equilibrium
Competitive labour market equilibrium
Minimum wages
Payroll taxes and employment subsidies
Mandated benefits
Monopsony
The cobweb model and labour market shocks
5. Compensating wage differentials
Compensating wage differentials and risky jobs
Hedonic wages and the value of a statistical life
Job amenities, health benefits and layoffs
6. Education
Schooling as an investment in human capital
Returns to schooling
School quality and the education production function
Education as a signal
7. The wage distribution
On-the-job training and the age-earnings profile
Evaluating government training programs
Measuring inequality
Rising wage inequality
Intergenerational mobility
8. Labour mobility
Migration and job turnover
Immigration
9. Discrimination
Taste-based discrimination
Statistical discrimination and measuring discrimination
10. Labour unions
Unions and collective bargaining
Union wage effects
11. Incentive pay
Incentive pay
Efficiency wages
12. Unemployment
Measuring unemployment
Job search and Employment Insurance
Unemployment and the business cycle
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Principles of microeconomics
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