03977 - Labour Economics

Learning outcomes

The course aims to provide and develop the analytical tools needed for the interpretation of the dynamics in the labour markets in the frame of an eclectic approach. At the end of the course the student is expected to be able to: deeply understand the foundations of the analysis of the demand for labour and the supply of labour in perfect and imperfect competition; examine in detail the issues connected to the knowledge economy and data driven economy and their impact on human resources formation; handle the analytical tools needed for understanding the current debate on labour markets evolution; express autonomous evaluations on the most important issues concerning labour markets; analyse recent institutional changes in the Italian, European and global labour markets in the light of the theoretical models learned.

Course contents

The course has been planned as an Integrated Course (IC), composed of two modules: the Module I is named “Labour Economics”; the Module II is named “Workshop in Economics”.

The general aim of the course is twofold. On the one hand, it aims to provide a full overview of the main analytical tools employed by labour economics at the micro, macro and meso-economic level, including micro-economic foundations. On the other hand, the course seeks to emphasize the complexity of the discipline often leading to conflicting approaches, due to the different emphasis on the relevant issues, on the different analytical methods adopted and on the policy solutions proposed. Thus, in addition to partial equilibrium analysis, referring to the 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.

Both modules are held by Prof. Gilberto Antonelli. The lectures will take place in the first semester starting on Monday 15th of September 2025.

The syllabus is organised as follows.

Introduction: Labour Markets, Economic Theory and Statistical Information

1. Economic theory, stylized facts and data on labour markets

2. Cyclical states and structural scenarios

3. Prevailing markets forms in labour markets

4. Basic indicators on Italian labour markets

6. Complexity of structural analyses of labour markets in a poly-crisis world

7. Principal answers from economic policy

8. Crucial issues

Module I: Microeconomics of the Labour Markets

I.1. Labour markets in perfect competition

I.1.1. Demand for labour in the short run

I.1.2. Demand for labour in the long run and labour organisation in the firm

I.1.3. Labour supply in the short run

I.1.4. Labour supply in the long run and education of human resources

I.1.5. Perfect competition equilibria

I.2. Labour markets in imperfect competition and labour markets structure

I.2.1. When the buyer of labour services is not in perfect competition

I.2.2. When the seller of labour services is not in perfect competition

I.2.3. When the buyer and the seller of labour services are not in perfect competition

I.2.4. Imperfect competition equilibria

I.2.5. Economic role of the unions

I.2.6. Nature, form and structure of the labour markets

Module II: Macroeconomics of the Labour Markets

II.1. Labour markets amongst cyclical end structural positions

II.2. Human resources accountancy

II.3. Unemployment, inflation and aggregate demand

II.4. Inflation, bargaining and aggregate supply

Readings/Bibliography

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

Antonelli G., Labour markets and inequality, in Rehbein B. e Jodhka S.S. (eds.) (2024), Global Handbook of Inequality, Cham, Springer Nature.

Antonelli G. (2025), Investments and innovation in different stages of markets globalisation, in Wimmer C. and Rieder T. (eds.), Global inequality, Leiden, Brill BV, "Studies in Critical Social Sciences" (in corso di pubblicazione).

Antonelli G. e Civilini F., Education and inequality, in Rehbein B. e Jodhka S.S. (eds.) (2024), Global Handbook of Inequality, Cham, Springer Nature.

Teaching methods

Teaching includes front lectures and tutorials. The course contents will be presented in a systematic way in the front lectures following the above syllabus. Tutorials will be devoted to go into analyses and specific questions relevant to the preparation of tests. Specific readings will be suggested during the course as either additional or replacing bibliographic references.

Assessment methods

The examination will consist of two written exams in presence with evaluation in thirtieth which will be carried out connecting online the laptop with the platform EOL (https://eol.unibo.it) at the time indicated on AlmaEsami’s calendar.

Each of the two tests consist of 15 questions to be answered in 30 minutes within a 40-minute time window.

EOL gives the test vote immediately, but before the votes are final, the teacher verifies everything and publishes on AlmaEsami the vote actually proposed. If the final vote is sufficient, it will be possible to record it after formal acceptance of the proposed vote. In case of insufficient vote, the minutes will show: Withdrawn. The students who regularly attend the course will have the chance to take an intermediate written exam.

Information on the dates of appeals and venues for trials is available in advance. However, changes may be made even at the last minute due to force majeure. In this regard, too, it is necessary that students register from the beginning of the lectures of Module I to the Distribution List of both modules and stay on the alert. The offices and AlmaEsami are the depositories of this information, and the teachers themselves may be unaware of last hour changes. It is therefore best to always refer to them.

Teaching tools

In addition to the pre and post class time slots, where programme topics can be reflected or further developed, reception is available by appointment. E-mail is also used for clarification and explanation. Assisted web navigation is particularly useful 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.

To the students with SLD or temporary or permanent disabilities it is suggested that they get in touch as soon as possible with the relevant University office (https://site.unibo.it/studenti-con-disabilita-e- dsa/en) and with the lecturer in order to seek together the most effective strategies for following the lessons and/or preparing for the examination.

For other relevant information see:

https://www.unibo.it/sitoweb/gilberto.antonelli

http://www.sdic-school.org

Office hours

See the website of Gilberto Antonelli