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Personnel Economics and Organizational Behaviour Cod. 5273 Pietro Garibaldi Preliminaries

Personnel Economics and Organizational Behaviour Cod. 5273 Pietro Garibaldi Preliminaries. Logistic……. First Part: Lecturer: Pietro Garibaldi/ Marco Leonardi Office Number: Via Salasco 5, Room 12 (first floor) Office Hours: Under Appointment:

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Personnel Economics and Organizational Behaviour Cod. 5273 Pietro Garibaldi Preliminaries

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  1. Personnel Economics and Organizational Behaviour Cod. 5273 Pietro Garibaldi Preliminaries

  2. Logistic…… • First Part: • Lecturer: Pietro Garibaldi/ Marco Leonardi • Office Number: Via Salasco 5, Room 12 (first floor) • Office Hours: Under Appointment: • Assistant: Erika Somma Via Salasco 5, Room 10/A

  3. Hours…. • Lecture Hours: • Room Number N25 • Monday 14.30-16.00 • Tuesday 16.15-17.45 • Thursday 10.30-12.00

  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 http://www.frdb.org/~pietrogaribaldi/teaching/pec.htm

  6. A Course in Two Parts • First Part: Pietro Garibaldi • Personnel Economics • Second Part:Human • Organizational Behaviour

  7. Pesonnel Economics (PE) and Organizational Behaviour (OB) • 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 OB 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 Management Science • …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, 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 • Personnel Economics (inside the firm) • Textbooks: • - (PG) Garibaldi. P. (2005) Personnel Economics in Imperfect Labor Markets, Oxford University Press, forthcoming • - (L) Lazear, E., Personnel Economics for Managers, John Wiley & Sons.

  12. 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!

  13. Recruitment and Hiring • Optimal Skill Ratio • Whom should you hire? • Skill Labor No Matter What? • How to choose? • Hours Employment Trade-off • More Hours per persone or More people? • How much overtime?

  14. ..further PE • Temporary or Permanent? • All temporary is always optimal? • How many Interim workers? • Recruiting • The Role of Probation • Use of Credentials (what does a Bocconi degree signals?)

  15. ….further PE • Compensation System • Bonus scheme of fixed salary? • How large should the bonus be? • Compensation with Wage Constraints • Minimum wages exists • How to provide incentive in such setting?

  16. …further PE • Formal Education as an Investment • On the Job Training • General training • Firm specific training • Who should pay for training • Perfect and imperfect labor markets

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

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