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Abstract
The lecture provides an introduction to some of the central issues in labor economics, including the determinants of labor supply, firms' demand for workers, minimum wages, unemployment, wage inequality, immigration, and labor market discrimination. It presents recent empirical research papers on these issues and discusses the empirical challenges related to their research designs.
Objective
After taking this course, students will be able to - analyze the behavior of actors in the labor market within the conceptual framework of economic theory. - explain phenomena such as unemployment, wage inequality, labor market discrimination, and labor market imperfections. - comment on policy-relevant issues such as minimum wages, a universal basic income, immigration, and unemployment insurance. - comprehend and present the results of the relevant empirical studies on these issues. - understand the challenges associated with a causal identification of research questions in labor market research. - comprehend the idea behind important statistical methods that modern empirical researchers apply to overcome these challenges.
Content
In this course, students will get answers to a range of relevant questions about modern labor markets: Who works, how much, and why? Do people work less if they have a universal (guaranteed) income or pay higher taxes? How does a firm determine its employment? Does a minimum wage reduce the employment of workers it intends to help? How does unemployment arise? What are the effects of insuring workers against unemployment? Did technological change (e.g., computers and robots) contribute to the rise in wage inequality in developed countries? What are the effects of immigration on resident wages and employment? Is there wage and hiring discrimination against women, men, and foreigners in the labor market, and if so, why? After presenting how modern labor economics conceptualizes these issues, the course discusses state-of-the-art empirical research papers that answer these questions. In this context, the course familiarizes students with modern data science methods that researchers apply to get causal answers to research questions. This introduction to modern applied economics does not require any prior background in economics or statistics. The lecture targets students interested in the functioning of labor markets and the academic debate about specific labor market policies. A second target group is students that want to learn how modern empirical research in labor economics uses big data to analyze central issues in labor economics. Students are expected to participate in the in-class discussions actively. They will also be able to read and present a critical research paper on one of the topics discussed in class. The performance will be assessed based on a written exam at the end of the semester.
General Information
- Language
- English
- Levels
- MSC
- Frequency
- Yearly recurring
Examination
- Type
- graded semester performance
Course Components
| Type | Title | Time & Place | Hours |
|---|---|---|---|
| lecture |
Labor Economics
Does not take place this semester.
|
No time listed | 2 h weekly |
Offered In
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Management, Technology and Economics Master (Welcome and Introduction to MSc ETH MTEC Monday, 18.09.2023, 14.00 - 16.45 h, Room tba)
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