Labor Economics

General

• Code: 752
• Semester: 7th
• Study Level: Undergraduate
• Course type: Special Background
• Teaching and exams language: Greek
• Teaching Methods (Hours/Week): Lectures and Practice work (3)
• ECTS Units: 6
• Course homepage: https://elearning.cm.ihu.gr/course/view.php?id=830
• Instructors: Kourtesi Sofia

Course Contents

1. Introduction and basic concepts.
2. Work and employment.
3. Labor force and labor market.
4. Labor supply.
5. Labor demand.
6. Elasticities of labor demand.
7. Labor market frictions.
8. Compensation and Productivity.
9. Human capital and discrimination in the labor market.
10. The effect of trade union action on wages.
11. The Keynesian model of determining the level of employment.
12. The typology and multiple interpretations of the unemployment phenomenon.
13. The relationship between unemployment and inflation.

Educational Goals

The purpose of the course is the presentation and analysis of the way that neoclassical and Keynesian economic theory analyze the functioning of the labor market and its effects on the level of wages, employment and unemployment.

In particular, students will learn about topics such as work and employment, labor force and labor market, labor supply and demand, human capital and discrimination in the labor market, the effect of trade union action on wages, the Keynesian model of determining the level of employment, the typology and the multiple interpretations of the unemployment phenomenon, the relationship between unemployment and inflation.

Upon successful completion of the course students will be able to:

• Know the operation of the labor market according to neoclassical and Keynesian economic theory.
• Understand its effects on wages, employment and unemployment.
• Analyze and interpret the labor market, labor supply and demand, human capital.
• Interpret the effect of union action on wages, the Keynesian model of determining the level of employment.
• Evaluate and compose reports and analyses that refer to labor market issues.
• Acquire the necessary skills by interpreting the phenomenon of unemployment, the relationship between unemployment and inflation.
• Develop the necessary knowledge and skills for further studies at postgraduate level.

General Skills

• Independent work.
• Team work.
• Decision making.
• Production of free, creative and inductive thinking.

Teaching Methods

• In the classroom, face to face.

Use of ICT means

• Basic software (windows, word, power point, the web, etc.).
• Support of learning process through the electronic platform / e-class.

Teaching Organization

Students Evaluation

Written final exams (60%) that may include:

• Judgemental questions.
• Short answer questions.
• Application exercises.
• True/false and multiple choice questions.
• Composite theoratical questions.

In each question, corresponding evaluation points are specified.
Optional assignment (Essay writing and presentation) corresponds to 40% of the final grade.

Recommended Bibliography

1. Θεόδωρος Λιανός, Άννα Νταούλη – Ντεμούση, Οικονομική της εργασίας, Γ΄ Έκδοση, Εκδόσεις Μπένου Ε., 2017.
2. George J. Borjas, 2016, Τα οικονομικά της εργασίας, 2η έκδοση, Εκδόσεις Κριτική.