The major focus of this course is a theoretical and empirical analysis of wage and employment determination in the labor market. In connection, we examine the role of public policy and how it affects wage and employment outcomes.
Most of us allocate a substantial fraction of our time to the labor market. Our action on the labor market influences many aspects of our life: our wealth, the goods we consume, whom we associate with, where we vacation, etc. In this course, we explore the ideas economists use to understand how labor markets work. This will aid our understanding of topics such as education and training, discrimination and the impact of antidiscrimination programs, changes in wage inequality over time, immigration, unemployment, and poverty.