ECON 3400 - Labor Economics

Credits: (3)
Typically Taught Spring Semester: Full Sem
The study of labor economics explores choices made by the two sides of the labor market, employers and workers and how these choices interact in determining wage and employment levels. Hence, an important part of the course consists of a detailed analysis of labor demand and supply. This analysis is followed by a discussion of why the labor market often does not clear, i.e., why we observe unemployment. The analysis focuses on special features of the labor market such as minimum wage, labor unions and efficiency wages. Other topics include the effect of education and training on earnings, the optimal incentive structure of an employment contract and determinants of income inequality.
Pre-requisite(s): ECON 2010 , and earn a “C” or better in MATH 1050 , MATH 1080 , MATH 1090 , or MATH 1210  or; earn a “C” or better in any math course for which either MATH 1050 , MATH 1080 , or MATH 1090  is a prerequisite or; score 3 or higher on AP Calculus exam or; score 70 or higher on ACCUPLACER College Level Math (CLM) or; score of 26 or higher on Math ACT or; score of 65 or higher on ALEKS.