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Industrial Relations Cod. 5116 Pietro Garibaldi Preliminaries

Industrial Relations Cod. 5116 Pietro Garibaldi Preliminaries. Logistic……. First Part: Lecturer: Pietro Garibaldi Office Number: Via Salasco 5, Room 12 (first floor) Office Hours: Teusday: 11.00-13.00 Assistant: Lorenza Negri Via Salasco 5, Room 10/A. Hours…. Lecture Hours:

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Industrial Relations Cod. 5116 Pietro Garibaldi Preliminaries

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  1. Industrial Relations Cod. 5116 Pietro Garibaldi Preliminaries

  2. Logistic…… • First Part: • Lecturer: Pietro Garibaldi • Office Number: Via Salasco 5, Room 12 (first floor) • Office Hours: Teusday: 11.00-13.00 • Assistant: Lorenza Negri Via Salasco 5, Room 10/A

  3. Hours…. • Lecture Hours: • Room Number N25 • Monday 14.30-16.00 • Monday 18.00-19.30 • Tuesday 16.15-17.45 • Thursday 10.30-12.00 • Classes: (dr. Mattia Makovec) • Wednsday: 12.3-14.00

  4. Exam Format and further info… • Written format (see handout for details) • For further details • Lorenza Negri (assistant); • SID (third floor) • Website…(see below)

  5. Web Site • You will find: • Power Point Presentations • Lectures Notes • Problem Sets and Solutions www.frdb.org/~pietrogaribaldi/teaching/IndRelations.htm

  6. A Course in Two Parts • First Part: Pietro Garibaldi • Labor Economics • Personnel Economics • Second Part:Human Resource Management

  7. Labour Economics (LE) Pesonnel Economics (PE) and Human Resource Management (HRM) • This course deals with labor, the most important factor in the economic system (there would no economic system without people!). • …..but economics has to do with rationality, with cost benefit analysis,…. while people are human beings, they have feelings, culture. • Traditionally, LE and HRM specialists have not spoken to each other….

  8. Human Resource Managers about Economists • …economics can not be useful for managing human resources. Economic theory assumes that individual hate effort, behave opportunistically, have conflicting obejcts. In the economist mind, individuals are lazy, dishonest, and inside firms they have conflicting objectives. (O’Reilly e Pfeiffer 2000)

  9. Economists versus HRM Management • …all these emphasis on case studies. How can we generalize? • In case studies all depends on the speific setting of the firm; • To understand the world we need well spelled out theory, starting from obvious assumptions, down to empirical predictions • Without models, we do not really learn much

  10. ….Economics and Management • But you are taking a degree in International Economics and Management! • So somehow the two disciplines must have a way to talk to each-other! • The spirit of this course, Industrial Relations, is to show that to be a good human resource manager, you need both skills: sound economic analysis and good management experience

  11. Part I: the Economics Approach • Part Ia: Labour Economics (outside the firm) • Part Ib: Personnel Economics (inside the firm) • Textbooks: • - (ES) Ehrenberg R. and Smith. R. (2002) Modern Labor Economics, Addison Wesley, 8th Edition • - (L) Lazear, E., Personnel Economics for Managers, John Wiley & Sons.

  12. Syllabus Overview: Labour (LE) • I How the Labor Market Works? An overview (key concepts, labour force, unemployment, labour demand, labour supply, equilibrium) • II: The Demand for Labour • Short run • -Long run • -Hours/Employment, • III: The Supply of Labour • -How people decide labour force participation

  13. Labour continues • Unions in the Labor Market • What unions do? • How do they negotiate with firms? • Unemployment • frictional • structural • Let’s move inside the firm…

  14. Personnel Economics • Economics of Human Resources • Human resources today are key to organizational success: “Putting People First..” • High skill workers are difficult to hire, and to retent. • People need motivation. • What economics has to say about these issues? • A lot • People Respond to Incentives!

  15. Recruitment and Hiring • Recruitment and Hiring • Whom should you hire? • How to get the best applicants? • How to select among different applicants? • Motivating through pay systems? • Choice of Compensation system • How Big Should be the Bonus? • How to structure promotion decisions

  16. ..further PE • Teams • When is it profitable to form teams • Specific motivational issues in teams • Work-life considetaions • What should be the life-cycle of wages?

  17. What we will not cover! • Many practical issues • Legal issues • How to negotatiate with workers • How to organiza HR department • How to organize assesment center • We will go inside the firm, but with a theoretical perspectives!

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