The aim of the course is to provide the microeconomic foundations to comprehend the behaviour of workers and firms in supplying and demanding labour services and the way the labour market works
Basic knowledge of the microeconomic theory
The Labour Supply
The worker-consumer's preferences, budget constraints, short term labour supply curve, female labour supply, household labour supply, long term labour supply curve.
The Labour Demand
The function of production. Short and long term labour demand. The Hicks- Marshall rules of derived demand. The costs of adjustment and the labour demand.
The Market Equilibrium
The case of perfect competition. Non competitive markets: monopoly and monospony. Competitive equilibrium among labour markets.
The Human Capital
The model of the education. Theory of the signals. The investment in human capital.
Discrimination in the Labour Market
Discrimination by the employers, discrimination by workers, consumers discrimination, statistical discrimination.
Models efficient bargaining, right to manage model, model with strikes.
Definitions, job search, efficiency wages, implicit contracts
G.J. Borjias, Labour Economics, McGraw Hill
the course is organized with traditional frontal lessons, seminars with external experts, reading articles.
Final assessment is based on a written test consisting of open questions about the topics covered in the program.