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, the way the labour market works, and the causes of market failure or the persistence of unemployment.
The learning objectives, the competencies and the outcomes of the course are as follows
Knowledge and understanding: the student must be able to understand what are the determinants of the micro-level labour supply and demand, what are the characteristics of the labor market and what are the factors that prevent the market from being efficient.
Applying knowledge and understanding: at the end of the course, the student will be able to know the main sources, to read the main statistical data on labour market and newspaper and / or magazine articles that analyze the market trends.
Making judgments: once the main models that explain the labor market have been learned, the student must be able to assess the economic causes of unemployment and judge which labor policies are able to better cope with the phenomenon.
Communication skills: the student must be able to respond in a clear, cogent and exhaustive manner to both the final and intermediate written exam questions and to comment in an oral or written form on the suggested readings.
Learning skills: the student must demonstrate good learning skills by being able to deepen their knowledge on bibliographic references relevant to the field under study. Furthermore, the student must demonstrate that he is able to apply the knowledge gained in the evaluation of employment policies.
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.
Migrations, tournover and matching
G.J. Borjias, Economia del Lavoro, Brioschi Editore, 2010
Capp. 1,2,3,4,6, 8, 9,12
The course is organized with traditional frontal lessons, seminars with external experts, reading articles
di George J. Borjas, Mc Grow Hill, 2019
Final assessment is based on a written test consisting of open questions about the topics covered in the program.