Labor Economics

Course title:

Labor Economics

Course code:

IFLEC

ECTS:

3

In-class hours

Lectures:

15

Laboratory work/Tutorials:

15

Self-preparation hours

Practical training:

30

Other:

15

Total hours:

75

Language:

English

Study cycle:

BSc, MSc

Semester:

Winter, summer

Faculty:

Faculty of Economics

Name of the lecturer(s):

Chief Assist. Prof. Haik Garabedian, PhD

Mode of delivery:

Face-to-face, distance learning

Prerequisites:

English Proficiency

Learning outcomes of the course unit:

1.            Key concepts and theories of labor economics, including labor supply and demand and wage levels.

2.            Analyze labor market behavior employing economic models.

3.            Evaluate the impact of labor market institutions such as trade unions and protections legislation.

4.            Measuring the role of education and training in improving productivity and income returns.

Course contents:

1.            Introduction to Labor Economics

2.            Labor economics (employment, wages, productivity).

3.            Labor Supply

4.            Labor Demand

5.            Human Capital Theory

6.            Wage Determination

7.            Unemployment

8.            Labor Mobility and Migration

Recommended or required reading:

1.       Borjas, George J. (2020). Labor Economics (8th ed.). McGraw-Hill Education. Widely used undergraduate and graduate textbook covering theory, evidence, and policy applications.

2.       Ehrenberg, Ronald G., and Smith, Robert S. (2017). Modern Labor Economics: Theory and Public Policy (13th ed.). Routledge. Balanced mix of theoretical framework and empirical analysis, with strong policy relevance.

3.       Boeri, Tito, and Van Ours, Jan. (2021). The Economics of Imperfect Labor Markets (3rd ed.). Princeton University Press. Focuses on institutions, regulations, and labor market imperfections in Europe.

4.       Nickell, Stephen, and Layard, Richard. (1999). Labor Market Institutions and Economic Performance. In Handbook of Labor Economics, Vol. 3. Elsevier., Key reading for understanding how labor market policies affect employment and wages.

5.       World Bank. (2020). World Development Report: The Changing Nature of Work. Examines global labor market transformation under automation and digitalization.

Planned learning activities and teaching methods:

Traditional lectures: Explain key topics such as labor supply and demand, wage determination, human capital, unemployment, and discrimination.

Interactive lectures: Incorporate polls, Q&A, or short problem-solving breaks.

Presentations summarizing findings and policy implications.

Discussion boards on current labor market issues and events

Assessment methods and criteria:

Exercise evaluation, Written exam (multiple choice and short answers).

Each student will develop a thematic project. The goal is to apply in practice the knowledge and skills acquired during the lectures.

The completed projects are presented and discussed collectively during a seminar session. The project topics are selected by each student according to his/her interests.

15 hours are dedicated to project consultation and delivery.