ECON6009: Semester 1, 2021

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Units ECON6009 Semester 1 2021 [Normal day]

Unit of study_

ECON6009: Economics of the Labour Market

Semester 1, 2021 [Normal day] - Camperdown/Darlington, Sydney

Overview

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.

Unit details and rules

Unit code	ECON6009
Academic unit	Economics
Credit points	6
Prohibitions ?	None
Prerequisites ?	ECON6001 or ECON6002
Corequisites ?	None
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Katrien Stevens, katrien.stevens@sydney.edu.au

Type	Description	Weight	Due	Length
Final exam (Open book)	Final exam (take home) Take home written examination	50%	Formal exam period	2 hours
Outcomes assessed:
Presentation	Online presentation Presentation of research article and leading of class discussion	8%	Multiple weeks	30 minutes (TBC)
Outcomes assessed:
Assignment	Review article Written report about research article	12%	Multiple weeks	max. 1100 words (TBC)
Outcomes assessed:
In-semester test (Open book)	Mid-semester exam Take home written examination	30%	Week 08 Due date: 28 Apr 2021 at 18:00	1.5 hours
Outcomes assessed:
= group assignment ? = Type C final exam ? = Type C in-semester exam ?

Assessment summary

Mid-semester exam: This exam will be based on the material covered in weeks 1 to 6.
Final exam: The final exam will cover material from the entire unit, but with an emphasis on material discussed since the midterm exam.
Review article: Students will write a review article which includes an overview and brief critical appraisal of an assigned journal article. The article will be chosen from a list of assigned readings and is related to topics discussed in lectures. This is aimed at deepening insights into the material studied.
Online Presentation: In small groups, students will present key insights into the research article (as discussed in their review article). The group presenting will also prepare questions for and lead class discussion related to the article. These student presentations are planned for weeks 6, 12 and 13.

Detailed information for each assessment can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name	Mark range	Description
High distinction	85 - 100
Distinction	75 - 84
Credit	65 - 74
Pass	50 - 64
Fail	0 - 49	When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see sydney.edu.au/students/guide-to-grades.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Weekly schedule

WK	Topic	Learning activity
Week 01	Introduction to labour economics	Lecture (3 hr)
Week 02	Individual labour supply	Lecture and tutorial (3 hr)
Week 03	Dynamic labour supply (life-cycle)	Lecture and tutorial (3 hr)
Week 04	Education and human capital	Lecture and tutorial (3 hr)
Week 05	Labour demand and adjustment costs	Lecture and tutorial (3 hr)
Week 06	Student presentations 1	Seminar (3 hr)
Week 07	Labour market equilibrium and compensating wage differentials	Lecture and tutorial (3 hr)
Week 08	Midsemester exam	Seminar (3 hr)
Week 09	Discrimination	Lecture and tutorial (3 hr)
Week 10	Contract models: incentives and insurance	Lecture and tutorial (3 hr)
Week 11	Unemployment	Lecture and tutorial (3 hr)
Week 12	Student Presentations 2	Seminar (3 hr)
Week 13	Student presentations 3	Seminar (3 hr)

Attendance and class requirements

Attendance: According to Faculty Board Resolutions, students in the Faculty of Arts and Social Sciences are expected to attend 90% of their classes. If you attend less than 50% of classes, regardless of the reasons, you may be referred to the Examiner’s Board. The Examiner’s Board will decide whether you should pass or fail the unit of study if your attendance falls below this threshold. If a unit of study has a participation mark, your attendance may influence this mark.
Lecture recordings: Most lectures (in recording-equipped venues) will be recorded and may be made available to students on Canvas. However, you should not rely on lecture recording to substitute your classroom learning experience.
Preparation: Students should commit to spend approximately three hours preparation time (reading, studying, homework, essays, etc.) for every hour of scheduled instruction.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

The key textbook for this unit is R.G. Ehrenberg and R.S. Smith (2018) Modern Labor Economics - Theory and Public Policy (13th Edition, International edition, Routledge). This textbook is available for purchase online as either a hard copy or e-book. [A previous edition of this textbook can be used but students are responsible for studying the correct materials.]

The textbook will be supplemented with a number of published research articles. These articles are required reading and will form the basis for class discussion. Knowledge of these papers will be assumed and tested in an exam. These additional readings can be accessed through the Library eReserve/Reading List on Canvas.

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

Outcomes
Graduate qualities

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.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

Based on student feedback, student learning is enhanced by (1) making tutorials more interactive and by getting student actively involved and (2) after student presentations, students are expected to take active part in class discussion following student presentations. Further feedback is welcome.

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Disclaimer

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