It also exposes topical questions that can be addressed with the above-mentioned theories, models and methods
At the end of this learning unit, the student is able to :
|1||The aim of the course is to ensure that students can use economic theory and state-of-the art econometrics to assess the determinants and the consequences of labour productivity for individuals, firms and labour markets.
- First, how does economic theory a priori conceives labour productivity and its determinants (e.g., the division of labour, the role of human capital; capital intensity and scientific/technological progress…)? Also what is the link between labour productivity and wages, and why it is that the two may no align (wage discrimination)?
- Second, what are the conceptual, methodological and econometric challenges involved in measuring labour productivity and identifying its determinants?
- Third, how and to which extent can wage data inform us about labour productivity?
- Fourth, how can firm-level data be used to gauge and apprehend labour productivity, and several topical issues wherein it plays a key role?
In this course, there is a strong focus on linking economic theory, econometrics and empirical findings to policy issues (human capital investment, ageing, gender wage discrimination, job turnover).
Due to the COVID-19 crisis, the information in this section is particularly likely to change.The emphasis of the course is on linking basic theoretical insights with empirical patterns in the labor market, using a combination of methodologies.
Most of course consists of lectures, but there will be a number of problem sets/exercises throughout the semester, which all students must hand in individually
Students are expected to have familiarity with programs like SAS, R or STATA
Due to the COVID-19 crisis, the information in this section is particularly likely to change.
Ongoing assessment (40% of final grade) + end-of-term written exam (60% of final grade) during which students are requested to answer a questionnaire covering the whole set of issues covered by the course
- Becker, G.S. and K.M. Murphy (1992); The Division of Labor, Coordination Costs, and Knowledge; The Quarterly Journal of Economics, 107(4), pp. 1137-1160
Becker, G.S. (1971), The Economics of Discrimination, 2nd edn. Chicago, Ill.: University of Chicago Press.
Arrow, K.(1972), Some mathematical models of race in the labor market. In Racial Discrimination in Economic Life, ed. A.H. Pascal. Lexington, Mass.: Lexington Books, pp. 187–204.
- Hellerstein, J.K., D. Neumar, and K. Troske (1999), Wages. Productivity. and Worker Characteristics: Evidence from Plant-Level Production Functions and Wage Equations. Journal of Labor Economics, 17(3), pp. 409-446
- Lazear, E.P. & Oyer, P. (2009), Personnel Economics, in Handbook of Organizational Economics, Princeton University Press [forthcoming]
- Vandenberghe, V. (2017), The Productivity Challenge. What can be expected from better-quality labour and capital inputs? Applied Economics, 49(40), pp. 4013-4025
Smith, A. (1776), The Wealth of Nations, Random House, Inc.