Course content

The course addresses the functioning of the labor market and how adjustments in the labor market affect key economic variables. The course discusses both the effects of economic policy and the normative implications for how policy should be designed. The course covers both theoretical models and empirical analyses of key relationships in the labor market.

Learning outcome

Knowledge

You learn

• The determinants of labour supply and hours worked and the role of welfare and unemployment policy

• How wages are determined and models of efficiency wages and hedonic wages and compensating wage differentials and how these models are consistent with observed wages

• How labour market policy affects worker outcomes and the functioning of the labour market

• The effects of technological change on labour market outcomes.

Skills

You should be able to

• criticize and evaluate the findings of relevant journal articles and government reports

• understand and explain the source of variation in labour market outcomes such as wages, hours worked, unemployment and labour market participation.

• explain and evaluate the effects of economic and labour market policies on the functioning of the labour market.

General competence

You should be able to

• read and understand academic articles dealing with issues discussed in the course

• use the content of the course in your own academic work like your master thesis

Learning methods and activities

2 hours of lectures every week. The course has compulsory activities. Specific requirements will be announced at the beginning of the term. The term papers can be written as a joint project. The course is an optional master's course and is not taught every semester. Check courses that are taught at https://www.ntnu.no/econ/valgfrie-masteremner. Students enrolled in ISØ's master programs can take the course any semester. Contact the department (kontakt@econ.ntnu.no) to get access to learning resources.

Compulsory assignments

• Mandatory activity

Specific conditions

Recommended previous knowledge

Bachelor's degree in Economics

Required previous knowledge

None

Course materials

Announced at the beginning of the term.

Credit reductions