EC3311 Labour Economics

We will meet and discuss the following questions:

· "Unemployment is high because real wages are too high''. Discuss.

· Discuss problems in defining and measuring unemployment.

· "There are always some vacancies, so any unemployment must be voluntary''. Discuss

· Explain the distinction between stocks and flows. How can different flow-levels generate the same level of unemployment?

 

Seminar 2: Efficiency Wages

Topic: Evidence on Efficiency Wages

Paper to be presented:.

· Krueger, A.B. (1991) Ownership, Agency, and Wages: An Examination of Franchising in the Fast-Food Industry. Quarterly Journal of Economics 106, 75-101.

 

Seminar 3: Unions

Topic: Effect of Unions

Papers to be presented:

· Booth, A. (1995), "The Economics of the Trade Union", Cambridge University Press,