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Labor & Personnel Economics. pablo.agnese@fh-duesseldorf.de www.pabloagnese.com (23.32 00.43). FH Düsseldorf 2013-2014 Pablo Agnese. Outline. Unit 1: Introduction Unit 2: Definitions, facts, and trends Unit 3: The demand for labor Unit 4: The supply of labor

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Presentation Transcript
slide1

Labor & Personnel Economics

pablo.agnese@fh-duesseldorf.de

www.pabloagnese.com

(23.32 00.43)

FH Düsseldorf

2013-2014

Pablo Agnese

slide2

Outline

  • Unit 1: Introduction
  • Unit 2: Definitions, facts, and trends
  • Unit 3: The demand for labor
  • Unit 4: The supply of labor
  • Unit 5: The determination of wages
  • Unit 6: Personnel Economics
slide3

Goals

  • Different approaches / Philosophical background
  • Some technical stuff 
  • Some challenging discussions 
literature
Literature

Main textbooks:

McConnell, Brue, Macpherson

Ehrenberg, Smith

Kaufman, Hotchkiss

Lazear, E., Personnel Economics in practice

Also:

W. Block (Austrian School)

grading
Grading

Test (80%)

Weekly practices (20%)

Monitoring: email exchange and/or tutorials

slide6

Unit 1: Introduction

  • Unit 2: Definitions, facts, and trends
  • Unit 3: The demand for labor
  • Unit 4: The supply of labor
  • Unit 5: The determination of wages
  • Unit 6: Personnel Economics
1 introduction
1.Introduction

1.1 Why labor economics?

  • Socioeconomic reason
  • Quantitative reason
  • Particular features (?)

1.2 Division of labor and comparative advantage

  • Task specialization
  • Efficiency
  • Human capital and technological development
  • Price system
  • Negative effects?
1 3 positive and normative economics
1.3Positive and normative economics
  • Positive economics identifies two assumptions:
    • Scarcity
    • Rationality
  • Normative economics looks at two types of transactions:
    • Beneficial exchange (voluntary)
    • Redistribution (involuntary)
  • Intervention v. non-intervention
slide9

The labor market allows mutually beneficial exchanges between employers and employees

Sometimes this might prove difficult

Market failures and / or government failures :

  • Ignorance or lack of information
  • Externalities
  • Public goods
  • Regulations
  • Price distortion
slide10

1.3 Efficiency and Equality

  • No single set of Pareto-efficient transactions
  • “Social goal” What set is the most equitable?
  • Decisions on equality  political matter
  • Define a subjective standard of justice
  • Economics is NOT a zero sum ​​game!
summary of 1 st class
Summary of 1st class

Why labor economics?

Division of labor and comparative advantages

Positive and normative: role for government?

Market failures: role for government?

Efficiency and equality: role for government?

Say’s law

slide12

We should ask then:

  • Why should we specialize?
    • E.g. Hunters and collectors
    • People have different natural skills (sports, risky jobs)
    • Education
    • Cooperation
  • What are the obstacles?
    • - Coordination
  • How does the capitalist system solve these problems?
    • Price system (commodities and labor!)
    • Prices/wages  productivity of firms/disutility of work