ØASØK4700 Labour Economics Course description

The course introduces students to basic economic theories of how labour market functions and the policy implications. It will also present empirical methods used in the current literature to analyse the roles of market institutions and policy interventions of various kinds. Topics include market equilibrium in competitive and non-competitive labour markets, human capital, unemployment, job search, migration, discrimination and collective bargaining.

Language of instruction is Norwegian.

Eksamen i emnet er en skoleeksamen på 4 timer.

None

After completing the course, students will acquired the learning outcomes defined in knowledge, skills and general competence:

Knowledge

The student has

• in-depth knowledge of the economic theories of labour market, including what factors determine the supply decisions of workers and the demand decisions of employers and how the labour market balances out the conflicting interests of the two parties
• advanced knowledge of how various institutional features (labour market discrimination, labour union, incentive pay systems etc.) impact the labour market outcomes (distribution of earnings, employment opportunity etc.)
• advanced knowledge of how investments in human capital determine the shape of the wage distribution
• advanced knowledge of how unemployment exists and persists in labour markets and the challenges in policymaking addressing unemployment

Skills

The student can

• analyse theoretical models to investigate how labour markets function and interpret the model findings to address challenges in policymaking
• analyse relevant data and design empirical models to investigate effects of economic and social policies (migration, discrimination, education etc.) on labour-market outcomes
• analyse empirical evidence and relate critically to economic theories to enhance understanding of policy effects and to make policy recommendations
• acquire skill to work independently to develop and study research questions using existing theories and research methods

General competence

The student can

• communicate with practitioners and policy makers to design and analyse labour-market policies
• engage in analytical discussions of economic reports and policy papers
• disseminate knowledge through presentation and discussion to both specialists and to the general public
• critically reflect on scope and limitations of economic policies to address the functioning of labour markets

Various work methods will be used such as lectures, interactive discussions about current issues, and assignments. The students are expected to work on assignments both individually and in groups outside of the joint lectures.

The following coursework requirements must have been approved in order for the student to take the exam:

Coursework 1: Presentation in class of a research article from the curriculum (question, methodology and results) assigned by the lecturer. The presentation can be individually or in groups of two, and should last at least 10 minutes.

The purpose of the coursework is to learn and to show competencies in (a) engaging critically with economic research and (b) present and discuss economic knowledge.

All required coursework must be completed and approved by the given deadline in order for the student to take the exam. If one or more coursework requirements have not been approved, the student will be given one opportunity to submit an improved version by the given deadline.

I dette kurset vil vi lære å bruke spillteori for å analysere markeder med imperfekt konkurranse, noe som kjennetegner et flertall av markedene studentene senere vil komme ut for. Kurset vil gi studenten en dypere forståelse av de underliggende mekanismene bak bedriftenes valg av strategier i slike markeder. Når få bedrifter konkurrerer i et marked med et fåtall aktører, vil det være strategisk interaksjon mellom bedriftene - en bedrifts strategivalg (f.eks. prissetting, produksjonskvantum, markedsføring) påvirker strategivalget til andre bedrifter.

Teorien vil knyttes tett mot aktuelle eksempler fra en rekke markeder og studentene vil i løpet av kurset bli i stand til å vurdere konkrete konkurransepolitiske problemstillinger.

Ingen forkunnskapskrav.

Studenten skal etter å ha fullført emnet ha følgende totale læringsutbytte definert i kunnskaper, ferdigheter og generell kompetanse:

Kunnskap

Studentene har:

• en dypere forståelse av markeder med imperfekt konkurranse
• kunnskap om bruk av offentlige virkemidler som konkurranse- og næringspolitikk

Ferdigheter

Studentene kan:

• bruke spillteori til å analysere en bedrifts muligheter og strategivalg
• gi anbefalinger om prisstrategier i ulike markedssituasjoner
• gi anbefalinger om nærings- og konkurransepolitikk

Generell kompetanse

Studentene kan:

• forstå hvordan samspillet mellom bedrifters strategiske valg og offentlige virkemidler påvirker markedsutfall

Undervisningen vil legges opp med 4 timer forelesning per uke.

For å kunne framstille seg til eksamen må studenten ha følgende godkjente arbeidskrav:

• Arbeidskrav 1: Studentene skal i gruppe på to studenter skrive en semesteroppgave.

Arbeidskravet må være gjennomført og godkjent innen fastlagt frist for at studenten skal kunne framstille seg til eksamen. Dersom arbeidskravet ikke blir godkjent, gis det anledning til å kunne levere en forbedret versjon én gang innen angitt frist.