ECO3004 : Labour Economics
ECO3004 : Labour Economics
- Offered for Year: 2024/25
- 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 | |
Pre-requisite
Modules you must have done previously to study this module
| Code | Title |
|---|---|
| ECO2101 | Microeconomic Analysis |
| ECO2102 | Macroeconomic Analysis |
Pre Requisite Comment
N/A
Co-Requisite
Modules you need to take at the same time
Co Requisite Comment
N/A
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:
.
Learning Outcomes
Intended Knowledge Outcomes
1.To be able to interpret personnel practices in terms of underlying economic principles.
2.To be able to demonstrate knowledge and understanding of key aspects of modern labour economics, drawing on relevant theory and empirical evidence
3.To be able to demonstrate the ability to apply the tools of economic analysis to selected issues in labour market policy
4.To know and understand the main techniques used in current research in labour economics.
Intended Skill Outcomes
1. Develop skills to analyse economic issues relating to personnel problems and economics of the labour market, both theoretical and empirical.
2. Further develop skills in written communication and numeracy.
3. Analyse and solve problems using economic analysis.
4. Further develop skills in planning and organising, initiative and adaptability.
Teaching Methods
Teaching Activities
| Category | Activity | Number | Length | Student Hours | Comment |
|---|---|---|---|---|---|
| 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 | Assessment preparation and completion | 1 | 67:00 | 67:00 | N/A |
| 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.
Reading Lists
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.
Timetable
- Timetable Website: www.ncl.ac.uk/timetable/
- ECO3004's Timetable
Past Exam Papers
- Exam Papers Online : www.ncl.ac.uk/exam.papers/
- ECO3004's past Exam Papers
General Notes
N/A
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Disclaimer
The information contained within the Module Catalogue relates to the 2024 academic year.
In accordance with University Terms and Conditions, the University makes all reasonable efforts to deliver the modules as described.
Modules may be amended on an annual basis to take account of changing staff expertise, developments in the discipline, the requirements of external bodies and partners, and student feedback. Module information for the 2025/26 entry will be published here in early-April 2025. Queries about information in the Module Catalogue should in the first instance be addressed to your School Office.