|Lecturer:||Prof. Christina Felfe de Ormeño, PhD|
|Time:||Tue, 14 - 16 h|
|Lecturer:||Prof. Christina Felfe de Ormeno, PhD|
|Time:||Group 1: Wed, 12 - 14 h|
|Group 2: Wed, 14 - 16 h|
Structure and content
This course provides an introduction into modern labor economics. Participants will be familiarized with the core theoretical models of modern labor economics and the basic methods of modern empirical labor economics. As such the course will be divided into two parts: the lecture where the theory is taught as well as the exercise class which are „hands on“ sessions in order to be able to conduct an economic analysis both theoretically as well as empirically.
The lecture will cover the following topics:
I. Structure of the labor market
1. Labor supply
2. Labor demand
3. Labor market equilibrium
The objective of this part is to provide an understanding of the determinants of labor supply and labor demand and how they match and finally reach an equilibrium. This also implies studying the design and effects of policy interventions in order to combat inefficiencies.
II. Wage formation
4. Human capital formation
5. Compensating wage differentials
7. Wage structure and inequality
The objective of the second part to investigate the different determinants of wages and to understand the reasons (justified or unjustified) why some people earn more than others.
The third and last part of the lecture deals with one of the biggest challenges to policy makers: unemployment.
Participants should be acquainted with the core models of modern labor economics and dominate the basic methods of modern empirical economic analysis.
Main reference for the lecture is Borjas, G.J. (2016): "Labor Economics", 7th edition, McGraw‐Hill. Basis for the empirical part are well-published economic articles which will be published on Wue Campus in due course.
Written exam (60 min.) which will contain questions on the theoretical part and empirical part.
Basic knowledge in microeconomics and econometrics is desirable.
Prof. Christina Felfe de Ormeño, PhD
Structure and content
Empirical methods are the core of public policy making. Writing an empirical paper requires creativity, but also strong econometric skills. The aim of the course is to familiarize students how to structure the different steps required to write an empirical paper and provide them with the essential skills to conduct their own empirical study. At the end of the semester, students should be able to formulate a clear research question, identify the contribution to the existing literature and structure the necessary steps to answer the research question empirically. The result of the seminar serve as a basis for an empirical bachelor thesis in labor/public economics.
Participants should acquire the skills to set up an empirical study to analyze a public policy question.
Angrist, J. and Pischke, S. (2015). “Mastering Metrics the Path from Cause to Effect”. Princeton University Press
Basic knowledge in microeconomics and econometrics (taught in the lecture “Public Policy”).
A first meeting to discuss the procedure of the seminar will take place on Wednesday, October 23, 2019 at 1:30 pm in room 298. Presentation of the outline of the seminar paper is scheduled for mid December, 2019. The deadline to hand in the seminar paper is March 15, 2020.