Em387s19 - Lecture notes 1 PDF

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E/M 387 Labor Economics Spring, 2019 Larry Wohl ([email protected]), 161 Beck Hall, 7453(office) Office Hours: 9:20-9:50 MTWF, 1:30-2 MW, 1:30-3 T and by appointment, or just drop in In this course, students will survey important business and policy issues in the field of labor economics. Specifically, you will be expected to learn to apply the tools of basic microeconomic theory in the analysis of real-world labor market problems. Among the many topics we will consider are: minimum wage laws, welfare policies, employment and training programs, immigration and migration, equal opportunity and affirmative action, unions and collective bargaining, and unemployment and job search. You will also learn about a variety of institutional factors that frequently require alternative approaches to traditional economic modeling. Such institutional factors include labor history, labor laws, seniority systems, and union politics, among others. We will focus on the linkages between theory and the real world. In addition to learning how to use theory to develop and analyze public policies, you will also learn how to combine theory with empirical evidence to provide input for decisions by employers. The main text for the course is Labor Economics, 7th ed. by George Borjas. I encourage you to make good use of it. I strongly encourage you to ask questions about topics you don't understand or which you simply want to discuss, and the text should be the starting point for such questions/discussions. There will also be periodic readings assigned from outside the text posted on Moodle. This is a writing course, and in addition to Borjas, you will also read Economical Writing, 2nd ed. by Deirdre McCloskey. It is also recommended that you have a good dictionary, a manual of style, and a grammar handbook to aid in your writing. If you do not already own such books from previous writing courses, they should become part of your permanent library and will likely be useful in future courses as well. Grades for the course will be based on 700 possible points. These will come from three exams worth a total of 350 points, 150 points worth of homework and short writing assignments, 150 points from three case studies, and 50 points for participation. Exams are given at night because they tend to run fairly long--1.5 to 2 hours. Exams are a mix of problems and essays. Prior to exams, I will distribute study guides with sample questions from old exams. Homework and writing assignments will be problems and short essays similar to (and designed to prepare you for) exam questions. I will tell you more about the case studies over the next week. Participation points are based on attendance and contributions to our discussion, both on pre-assigned questions and more generally. While I don’t have an attendance policy for my classes, I will expect you to be in class every day unless there is a very compelling reason to miss, and your participation grade will be docked for each unexcused absence. Discussion questions for class will be assigned ahead of time, and I will periodically assign portions of the text to individuals or groups to present. Tentative Schedule and Topic Outline Week 2-11 2-18 2-25 3-4

Topic Labor Market Basics: Labor Markets and Labor Supply-Hours Labor Supply-Participation Labor Demand Labor Market Equilibrium

Reading Assignments chapters 1 & 2 chapter 2 chapter 3 chapter 4

Exam #1 tentatively scheduled for Tuesday, March 12, 125 points 3-15 3-18 3-25 4-1 4-8 4-15

Labor Markets in Action: Compensating Wage Differentials CWD, continued, Human Capital Theory Human Capital Theory, continued Spring Break Rest and Relaxation The Wage Structure Labor Mobility

chapter 5 chapter 6 chapter 6 chapter 7 chapter 8

Exam #2 tentatively scheduled for Tuesday, April 23, 125 points

4-26 4-29 5-6 5-13 5-20

Special Topics in Labor Markets: Labor Market Discrimination LMD, continued, Labor Unions Labor Unions, continued Incentive Compensation, Unemployment Unemployment

chapter 9 chapter 10 assigned readings chapters 11-12 chapter 12

Final Exam, currently scheduled for Friday, May 24, 1 pm, 100 points Accessibility Resources At its May 2011 Faculty Meeting, the faculty approved changes to Faculty Handbook Section 2.2.7: “Through information provided in syllabi, faculty members will notify students of the availability of disability services at Gustavus and how to access them.” The following statement is recommended for inclusion on all syllabi: Gustavus Adolphus College is committed to ensuring equitable and inclusive learning environments for all students. If you have a disability and anticipate or experience barriers to equal access, please speak with the accessibility resources staff about your needs. A disability may include mental health, attentional, learning, chronic health, sensory, physical, and/or short-term conditions. When appropriate, staff will guide students and professors in making accommodations to ensure equal access. Accommodations cannot be made retroactively; therefore, to maximize your academic success at Gustavus, please contact them as early as possible. Accessibility resources staff are located in the Center for Academic Resources and Enhancement (https://gustavus.edu/care/accessibility/) (x7227). Accessibility Resources Coordinator, Katy Clay, ([email protected]), can provide further information. Academic Honesty At its November 2006 Faculty Meeting, the faculty approved changes to Faculty Handbook Section 2.2.6: “Through information provided in syllabi and/or other means, faculty members will explain to students how the Honor Code will operate in their respective courses.” The following statement is suggested as a pledge for students to sign on all graded assignments and projects: “On my honor, I pledge that I have not given, received, or tolerated others’ use of unauthorized aid in completing this work.” I inform you now that my policy is to give a zero on the first offense, and flunk anyone caught cheating or using someone else's work on exams or homework a second time. On homework assignments, I expect the work you turn in to be your own, but you are encouraged to work with others unless specifically asked not to do so. Homework assignments are intended to help your preparation for exams, so you need to be able to do the work independently. At the same time, you can learn a lot from each other, and it is important to take advantage of that opportunity. Full descriptions of the Academic Honesty Policy and the Honor Code can be found in the Academic Catalog (online at https://gustavus.edu/general_catalog/current/acainfo). For more information about the Honor Code, contact Dean Micah Maatman ([email protected] or x7541). Help for Multilingual Students Some Gusties may have grown up speaking a language (or languages) other than English at home. If so, we refer to you as “multilingual.” Your multilingual background is an incredible resource for you, and for our campus, but it can come with some challenges. You can find support through the Center for International and Cultural Education’s (https://gustavus.edu/cice/) Multilingual and Intercultural Program Coordinator (MIPC), Carly Overfelt ([email protected]). Carly can meet individually for tutoring in writing, consulting about specific assignments, and helping students connect with the College’s support systems. If you want help with a specific task (for example, reading word problems on an exam quickly enough or revising grammar in essays), let your professor and Carly know as soon as possible. In addition, the Writing Center (https://gustavus.edu/writingcenter/) offers tutoring from peers (some of whom are themselves multilingual) who can help you do your best writing. Research Help You can always get help with your research at the library. Reference librarians will help you find information on a topic, develop search strategies for papers and projects, search library catalogs and databases, and provide assistance at every step. Drop-ins and appointments are both welcome. Visit https://gustavus.edu/library/reference_question.php for hours, location, and more information....