03977 - Labour Economics

Course Unit Page

Academic Year 2018/2019

Learning outcomes

The course aims to provide and develop the analytical tools needed to interpret the dynamics of the labour market, according to an eclectic approach. At the end of the course the student is expected to: a) know in depth the fundamentals of both labour supply and demand in perfect and imperfect competition; b) have analysed thoroughly issues related to the knowledge economy, highlighting as the latter leads to radical changes in the mechanisms of formation of human resources; c) know how to interpret the dynamics of the Italian labour market using the models studied d) master the analytical tools needed to understand the terms of the debate on the labour market e) be able to work out independent judgements on the various issues concerning the labour market.

Course contents

The aim of the course is twofold. On the one hand, it aims to provide a full overview of the main analytical tools of labour economics at both microeconomic and macroeconomic levels. On the other hand, the course seeks to emphasize the complexity of the discipline often leading to conflicting approaches, due both to the different emphasis associated to relevant issues and to the different analytical methods respectively adopted. Thus, in addition to partial equilibrium analysis, referring to a mainstream approach, the course will also provide the students with analytical models that emphasize the role played by both the labour market structure and the macroeconomic context in which these markets are placed.

 

The program will be divided into two modules and four parts. Giovanni Guidetti and Gilberto Antonelli are respectively the lecturers of the two modules..

First module

Part I: Labour supply and demand in perfect competition

1. Labour demand: the hiring and firing decisions made by firms

2. Labour supply in the short term: how many workers choose to enter the labour market and how many hours they are willing to work.

3. Perfect competition in labour markets

Part II: Non perfect competition and structure of labour markets

1. Non competitive labour markets

2. Economic role of trade unions

3. Nature, form and structure of the labour markets

Second module

Part III: Macroeconomics of labour markets

1. Labour markets in the macroeconomic system

2. Determinants and effects of unemployment

3. Unemployment, inflation, aggregate demand. The classical model

4. Unemployment, inflation, aggregate demand. The Keynesian model

5. Inflation, bargaining, aggregate supply. The Friedama model and the New Classical Macroeconomics

6. Inflation, bargaining, aggregate supply. The New Keynesian macroeconomics and the imperfect competition model

Part IV: Economics of education and human capital

1. Labour supply in the long-term. The human capital theory

2. Economics of education. Main reference models.

3. Education supply. Efficiency and effectiveness assessment

4. Internal laboyr markets

5. Firm organization and human resources

6. Human resources training and new organzational practices

Readings/Bibliography

Antonelli G., Guidetti G., Economia del lavoro e delle risorse umane, Torino, Utet, 2008.

Single chapters associated to the different parts of the programme are here below listed.

Parte I: Labour demand and supply

Antonelli G., Guidetti G., Economia del lavoro e delle risorse umane, Torino, Utet, 2008. (Chapters 1, 2).

Alternatively students may use the following textbook.

Borjas G.J., Labor Economics, New York, McGraw-Hill, 2010 (Chapters 2, 3).

Part II: Labour markets

Antonelli G., Guidetti G., Economia del lavoro e delle risorse umane, Torino, Utet, 2008. (Chapters 4, 5).

Alternatively students may use the following textbook.

Borjas G.J., Labor Economics, New York, McGraw-Hill, 2010 (Capp. 4, 5.1, 5.2, 5.3, 5.4, 5.6, 5.7, 5.8, 10);

Part III: Macroeconomics of labour markets

G. Antonelli e G. Guidetti, Economia del lavoro e delle risorse umane, Torino, Utet, 2008. (Chapters 8, 9).

Alternatively students may use the following textbook.

Carlin W. e Soskice D., Macroeconomia, Bologna, Clueb, 1992 (Chapters 6, 7, 8).


Part IV: Economics of education and human capital

Antonelli G. e Guidetti G., Economia del lavoro e delle risorse umane, Torino, Utet, 2008. (Chapter 3, 7).

Alternatively students may use the following textbook.

Borjas G.J., Labor Economics, New York, McGraw-Hill, 2010 (Cap. 6, 7)

Teaching methods

Lectures

In office hours the lecturer will be available to explain and deepen the course contents.

Specific readings will be suggested during the course as either additional or replacing bibliographic references.

Prior knowledge of standard economics, acquired through a university course, is warmly recommended

Knowledge of the English language is very helpful, as it widens the range of reading options

Assessment methods

The examination will consist of a written exam including both modules of the programme

The students who regularly attend the course will have the chance to take intermediate written exams.

Teaching tools

During office hours the lecturer will be available to explain and deepen the course contents.

Assisted web navigation will be carried out in order to download on-line references and statistical sources on the relevant topics.


The help of librarians is useful to find both basic and specific bibliographical references

Links to further information

https://www.unibo.it/sitoweb/gilberto.antonelli/cv http://www.sdic-school.org/

Office hours

See the website of Gilberto Antonelli