This is a graduate course in labor economics. The course will focus …
This is a graduate course in labor economics. The course will focus on covering theory and evidence on inequality, wage structure, skill demands, employment, job loss, and early-life determinants of long-run outcomes. Particular areas of focus are: (1) wage determination, including the Roy model, equalizing wage differentials, and models of discrimination; (2) the roles played by supply, demand, institutions, technology and trade in the evolving distribution of income.
Lecture Objective: Students understand what “there ain't no such thing as a …
Lecture Objective: Students understand what “there ain't no such thing as a free lunch” really means. In other words, they can identify different types of nonmonetary compensation and how they form part of real wages.
The lesson incorporates two MRU videos about compensating wage differentials from our Principles of Microeconomics video course. We also mix in discussion prompts, exercises, practice questions, graphs and charts, and pre- and post-class assignments. Finally, we provide supplementary resources such as additional data sources, relevant news articles and blog posts, two episodes of Planet Money, and a podcast conversation between Tyler Cowen and Peter Thiel.
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