文档介绍：LABOR ECONOMICS
Ning Guangjie
Tel: 23504565
E-mail:seanning@
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Chapter 1 INTRODUCTION
What does labor economics study?
Labor economics studies how labor markets work.
Such as labor force participation, the firm’s demand for the high-skill workers, wage determination, the human capital investment, the labor mobility, the labor market discrimination, trade Unions and unemployment.
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The actors in the labor market:
workers(utility maximum), firms(profit maximum)and government(influence the supply and demand or change the rules of the game)
Learning labor economics can help you have a better understanding of the real labor economic problems and predict the labor market es.
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The theory helps us understand how the facts are generated, and where the facts can help shape our thinking about the way labor markets work.
Model: simplify; The realism of assumption
to the extent to which it helps us understand and predict how labor markets work.
Theory and facts
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anization of the course
Chapter 2 Labor supply
Chapter 3 Labor Demand
Chapter 4 Labor Market Equilibrium
Chapter 5 Human Capital
Chapter 6 Contract and Work Incentive
Chapter 7 Trade Union
Chapter 8 Labor Mobility
Chapter 9 Unemployment
Appendix: An introduction to Regression Analysis
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Chapter 2 Labor Supply Whether to work and how many hours to work Labor supply in short run, static labor supply decision, in long run
Some stylized facts about labor supply
Measuring the labor force(LF): BLS CPS
The employed(E, a worker must have been at a job with pay for at least 1 hours, or worked at least 15 hours on a non-paid job such as the family farm ), the unemployed(U, a worker must either be on a temporary layoff from a job, or have no job but be actively looking for work in the 4-week period prior to the reference week) , out of the labor force, the population(P)
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LF=E+U,
Labor force participation rate=LF/P
Unemployment rate=U/LF
The official unemployment rate understated the re