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Unit of study_

ECON6009: Economics of the Labour Market

The purpose of this unit is to study some of the major issues in modern labour markets. Trends such as the increase in part-time work, the growing inequality in income and earnings, changes in the returns to education, and the simultaneous increase in hours of work and unemployment are addressed. The material consists of both empirical facts relating to the labour markets and the theories which are used to understand these facts. Part of the unit is devoted to the study of wage and employment contracts in the presence of uncertainty and other information problems. Imperfect information will have implications for the level of employment and unemployment, the structure of wages, and the use of particular forms of compensation such as bonuses, trust funds, and performance bonds.

Code ECON6009
Academic unit Economics
Credit points 6
ECON6001 or ECON6701 or ECON6002 or ECON6702

At the completion of this unit, you should be able to:

  • LO1. understand the economic concepts, theories, and approaches used in the study of labour economics
  • LO2. apply appropriate economic tools to analyse decision-making by suppliers and demanders of labour
  • LO3. evaluate underlying theories, concepts, assumptions, limitations, and arguments in labour economics
  • LO4. understand the main econometric problems and empirical techniques used in analysing labour markets, and in evaluating alternative theories
  • LO5. present coherent arguments on current issues in labour markets and labour market policies
  • LO6. communicate effectively, both orally and in writing, through assessment tasks and tutorial participation.

Unit outlines

Unit outlines will be available 1 week before the first day of teaching for the relevant session.