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.

ØASØK4100 Microeconomics

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.

The exam in the course is a supervised exam of 4 hours.

The following aids are permitted:

• One dictionary (native language-English/English-native language or English-English)
• A digital calculator will be available at this exam (you are not allowed to bring your own calculator)

Grade scale A-F

The exam papers are assessed by one internal and one external examiner.

At least 25% of the exam papers will be assessed by two examiners. The grades awarded for the papers assessed by two examiners form the basis for determining the level for all the exam papers.

Jørgen Modalsli