| CODE | CLS1110 | |||||||||
| TITLE | Labour Economics | |||||||||
| UM LEVEL | 01 - Year 1 in Modular Undergraduate Course | |||||||||
| MQF LEVEL | 5 | |||||||||
| ECTS CREDITS | 4 | |||||||||
| DEPARTMENT | Centre for Labour Studies | |||||||||
| DESCRIPTION | This study-unit covers the topic of labour economics and discusses various theories that impact labour supply and demand. The unit deals with Human Capital, wage differentials and labour market equilibrium and discusses the unions' involvement in collective bargaining and wage setting through the application of Game Theory. The link between inflation and unemployment is discussed using the Philips curve and short and long-run situations. Students are made aware of the effects of taxation, national insurance and social benefits on labour demand and supply. Active labour market and supply-side policies are discussed, as well as different types of unemployment. Finally, the unit focuses on the local and international labour market, globalisation and labour market adjustments. Study-unit Aims The aim of the study-unit is to make students aware of: - Similarities and differences between the labour market and the market for goods and services - What factors influence the labour market - What causes unemployment and its effects on labour - How institutions and the global economic environment influence the labour market Learning Outcomes 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: - explain the relation between wages and human capital - identify how work and leisure are balanced - judge if a policy is likely to hinder labour demand or labour supply - describe how global trends and regional employment policies influence labour market participation and unemployment rates 2. Skills (including transferable [generic] skills): By the end of the study-unit the student will be able to: - apply economic theories to interpret the Maltese labour market - interpret labour market signals - maximise the labour rate of return - design initiatives which re-integrate the unemployed in the labour market Main Text/s and any supplementary readings Required readings: - Smith, S. (2003). Labour Economics. UK: Routledge. (Available at the Library) - Papers and notes handed throughout the study-unit |
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| STUDY-UNIT TYPE | Lecture | |||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Simon Bugeja |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2024/5. It may be subject to change in subsequent years. |
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