Labor Economics

Universidad Carlos III de Madrid

Course Description

  • Course Name

    Labor Economics

  • Host University

    Universidad Carlos III de Madrid

  • Location

    Madrid, Spain

  • Area of Study

    Business Administration, Economics, International Economics, Peace and Conflict Studies

  • Language Level

    Taught In English

  • Course Level Recommendations


    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • ECTS Credits

  • Recommended U.S. Semester Credits
  • Recommended U.S. Quarter Units
  • Overview

    The aim of the course is to apply the tools of economic analysis to the labour market. Once students understand the basic principles governing the world of work, they should be able to identify problems and discern possible solutions. It is stressed that economic models are critical to find and analyze the appropriate data. Moreover, it is shown how empirical results should inform sound public policy.
    Part I. Introduction
    1. Basic Concepts and Overview: Economic Activity and the Labor Market. How Does the Labor Market Work?
    What is Special about the Labour Market?
    Part II. The Labor Supply
    2. The Labor Supply in the Short Run: The Theory of Individual Labor Supply
    3. The Labour Supply in the Long Run (I): Population, Participation Rates, and Hours of Work
    4. The Labour Supply in the Long Run (II): The Qualification of the Workforce and Investment in Human Capital
    Part III. The Labour Demand
    5. The Labour Demand of the Firm and the Labor Demand in the Market. The Demand for Labour in the Short and
    in the Long Run. Applications
    Part IV. Wage Determination and the Allocation of Labor
    6. Wage Determination in Competitive and non Competitive Markets
    7. Alternative Pay Schemes and Labour Efficiency. The Wage Structure. The Influence of Trade Unions on Wages
    Part V. Discrimination and Mobility
    8. Discrimination in the Labour Market
    9. Determinants and Consequences of Migration
    Part VI. Unemployment
    10. Overview of the Study of Unemployment: The Case of Spain
    11. The Macroeconomic Approach to Unemployment
    12. The Microeconomic Approach to Unemployment: Job Search and Unemployment Duration
    The structure of study of each topic will be common:
    - Lectures. Each topic will be introduced from an empirical point of view. This part will be completed with the
    theoretical study of the issues with a focus on micro and / or macroeconomic applications to labor economics.
    - Recitations, to solve exercises and problems.
    The students should also write an essay about one of the topics covered during the course. This activity will be
    completed with computer practice sessions, where they try to replicate the results of some of the most relevant
    research papers related to the topics of study. The student should present to the class at
    Página 1 de 2
    the end of the course the essay. The main objective of the presentation is to demonstrate its ability to link the
    economic problems and the techniques used in the test with their classroom learning.
    Final exam (60%) + Practice (10%) + Presentation class (10%) + test (20%).
    % end-of-term-examination: 60
    % of continuous assessment (assigments, laboratory, practicals?): 40
    - C. R. C. McConnell, S. L. Brue and D. A. Macpherson. Contemporary Labor Economics, , McGraw-Hill, , 9th

Course Disclaimer

Please note that there are no beginning level Spanish courses offered in this program.

Courses and course hours of instruction are subject to change.

Eligibility for courses may be subject to a placement exam and/or pre-requisites.

Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.

ECTS (European Credit Transfer and Accumulation System) credits are converted to semester credits/quarter units differently among U.S. universities. Students should confirm the conversion scale used at their home university when determining credit transfer.

Please reference fall and spring course lists as not all courses are taught during both semesters.

Availability of courses is based on enrollment numbers. All students should seek pre-approval for alternate courses in the event of last minute class cancellations

Please note that some courses with locals have recommended prerequisite courses. It is the student's responsibility to consult any recommended prerequisites prior to enrolling in their course.


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