ECO3004 : Labour Economics
- Offered for Year: 2024/25
- Available to incoming Study Abroad and Exchange students
- Module Leader(s): Dr Roberto Bonilla Trejos
- Other Staff: Dr Ian Gregory-Smith
- Owning School: Newcastle University Business School
- Teaching Location: Newcastle City Campus
Semesters
Your programme is made up of credits, the total differs on programme to programme.
| Semester 1 Credit Value: | 10 |
| Semester 2 Credit Value: | 10 |
| ECTS Credits: | 10.0 |
| European Credit Transfer System | |
Aims
Semester 1 aims: To develop students’ understanding of the principles and techniques used in traditional labour economics, and use them to analyse core issues such as: labour supply, labour demand, discrimination, labour unions, incentive pay, tournaments theory.
Semester 1 aims: To develop students’ understanding of the principles and techniques used in modern labour economics, and use them to analyse core issues regarding unemployment, wage formation, efficiency wages, turnover raiding and counteroffers and the link between labour markets and marital outcomes. Empirical issues are also analysed in the light of the theoretical analysis.
Outline Of Syllabus
Semester 1:
Labour supply
Labour demand
Discrimination
Labour unions
Incentive pay
Tournaments theory.
Semester 2
The Pissarides Model of Unemployment: Unemployment in a frictional labour market
The Burdett-Mortensen model of on-the-job search: Search in the labour market and wage distributions
Efficiency wages in Traditional and frictional models of the labour market.
Raiding, offers and counter offers in frictional markets.
Labour markets and marriage markets.
Semester 2:
.
Teaching Methods
Teaching Activities
| Category | Activity | Number | Length | Student Hours | Comment |
|---|---|---|---|---|---|
| Guided Independent Study | Assessment preparation and completion | 1 | 67:00 | 67:00 | N/A |
| Scheduled Learning And Teaching Activities | Lecture | 6 | 2:00 | 12:00 | All of these in term 2. Present-in-person |
| Scheduled Learning And Teaching Activities | Lecture | 1 | 1:00 | 1:00 | In Term 2. Present-in-person |
| Scheduled Learning And Teaching Activities | Lecture | 7 | 2:00 | 14:00 | All of of these in Term 1. Present-in-person |
| Guided Independent Study | Directed research and reading | 1 | 50:00 | 50:00 | Term 1 |
| Scheduled Learning And Teaching Activities | Small group teaching | 6 | 1:00 | 6:00 | 3 per term. Present-in-person |
| Guided Independent Study | Independent study | 1 | 50:00 | 50:00 | Term 2 |
| Total | 200:00 |
Teaching Rationale And Relationship
1.Lectures give overview of main theoretical ideas and how to obtain theoretical conclusions from economic models.
2.Seminars provide the opportunity for students to work in a group context, critically discuss issues and apply the theoretic developments to real world examples, and for solving analytical problems. This will include Pre-submission clinic to address the Essay (Term 1) and the Final Examination (Term 2).
3.Private study involves following up reading list references for seminar and examination preparation.
Assessment Methods
The format of resits will be determined by the Board of Examiners
Exams
| Description | Length | Semester | When Set | Percentage | Comment |
|---|---|---|---|---|---|
| Written Examination | 120 | 2 | A | 75 | Unseen |
Other Assessment
| Description | Semester | When Set | Percentage | Comment |
|---|---|---|---|---|
| Essay | 1 | M | 25 | 1000 words |
Formative Assessments
Formative Assessment is an assessment which develops your skills in being assessed, allows for you to receive feedback, and prepares you for being assessed. However, it does not count to your final mark.
| Description | Semester | When Set | Comment |
|---|---|---|---|
| Written Examination | 2 | M | There will be a mock exam question in Semester 2. Feedback will be provided in the form individual meetings during office hours. |
Assessment Rationale And Relationship
The 25% essay is appropriate to assess understanding beyond what is expected in a time limited unseen examination, allowing the student more options to convey their understanding. The exam is the standard tool for examining theoretical material under time and resource constraints.
The combination of 25% essay and 75% exam allows to test a wider set of skills, and also helps the student to obtain timely feedback for the final exam.
The proposed exam is suitable for online take home if required.
Reading Lists
Timetable
- Timetable Website: www.ncl.ac.uk/timetable/
- ECO3004's Timetable