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LABOR ECONOMICS

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Learning Outcomes

  • explain characteristics of labor markets and the basic approaches to labor market
  • Specifies the characteristics of the labor market
  • Explains the views of neo-classical school.
  • Explains the views of Institutional economists
  • explain the derivation of the labor supply curve.
  • Explains the characteristics of indifference curves.
  • Shows the budget constraint.
  • Specifies the level of equilibrium condition.
  • draws individual backward labor supply curve
  • Defines the market labor supply curve.
  • Explains non-wage factors affecting the supply of labor
  • interpret the labor force participation rate.
  • Defines the concept of the labor force participation rate.
  • Specifies decisions of the labor force participation
  • interprets the labor force participation rate datas
  • explain the short-and long-term demand for labor.
  • derives short-run labor demand curve for a perfectly competitive firm
  • derives short-run labor demand curve for a imperfectly competitive firm
  • graphs isoquants curves
  • shows the level of employment equilibrium.
  • shows relationship between short-run and long-run labor demand curves.
  • explain the determination of wages and wage differentials.
  • explains how wages are determined in various markets.
  • Specifies alternative approaches to the determination of wages.
  • explains the causes of wage differentials.
  • make an assessment about unemployment.
  • defines the concept of unemployment
  • classifies the types of unemployment.
  • Calculates the unemployment rate
  • compare policies to combat unemployment.
  • explains passive employment policies.
  • explains active employment policies.
  • compares the policies to combat unemployment.
  • Description
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