Monash University Handbook 2011 Undergraduate - Unit

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

Synopsis

Contrasting theoretical models of the labour market, with emphasis on the neo-classical model, wage efficiency model and internal labour markets; analysis of the role of trade unions in the labour market; theory of discrimination in the labour market; contrasting theoretical views of the Phillips curve; application of this analysis to a discussion of issues with an emphasis on contemporary issues such as labour market flexibility, discrimination and unemployment.

Objectives

The learning goals associated with this unit are to:

1. employers' incentives and behaviour that determine the labour demand curve, implications of minimum wage laws, and effects of technological change on labour demand
2. various aspects of workers' labour supply behaviour such as whether to work for pay as opposed to consuming leisure or working at home without pay, the choice of occupations with different characteristics, workers' decision to invest in human capital and other investments designed to improve their earning capabilities, and various policy applications that affect workers' choice between work and leisure
3. how the compensation of workers can be structured to create incentives for greater productivity.
4. labour market effects of unions and the contemporary issue of growing income inequality.

Assessment

Within semester assessment: 35%
Examination (2 hours): 65%

Chief examiner(s)

Dyuti Banerjee

Contact hours

3 hours per week

Prerequisites

ECC2000 and ECC2010 or equivalent

Prohibitions

ECC4371