FACULTY OF BUSINESS

Department of Economics

ECON 428 | Course Introduction and Application Information

Course Name
Labor Economics
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
ECON 428
Fall/Spring
3
0
3
5

Prerequisites
  ECON 101 To succeed (To get a grade of at least DD)
or ECON 102 To succeed (To get a grade of at least DD)
or ECON 100 To succeed (To get a grade of at least DD)
or GEEC 203 To succeed (To get a grade of at least DD)
Course Language
English
Course Type
Elective
Course Level
First Cycle
Mode of Delivery -
Teaching Methods and Techniques of the Course -
Course Coordinator -
Course Lecturer(s)
Assistant(s) -
Course Objectives Economics is the study of how a nation most efficiently allocates its scarce productive resources to satisfy the seemingly unlimited wants and needs of society. Labor is one of these scarce resources, therefore labor economics developed as a separate field in economics. This course will introduce students to the main topics, ideas, and methodologies of labor economics. While making use of some seminal empirical studies in selected topics, issues concerning the Turkish labor market will also be undertaken.
Learning Outcomes The students who succeeded in this course;
  • Will be able to explain the dynamics of labor market.
  • Will be able to compare the theories concerning the optimal choice of work and leisure.
  • Will be able to explain the impact of the population and the demographic structure of a nation on its labor market.
  • Will be able to explain why human capital is essential for economies.
  • Will be able to explain the reasons underlying the acquisition of different years of education by individuals.
  • Will be able to analyze the determinants of labor demand, labor supply, and equilibrium in labor markets.
  • Will be able to discuss the role of unions and the importance of collective bargaining in labor markets.
Course Description This course will introduce students to main topics, ideas and methodologies of labor economics. In this course topics such as labor supply theory, labor demand, wage determination, labor allocation, income distribution and labor unions will be undertaken by focusing on population, human capital and migration. Meanwhile, labor market in Turkey will be explored. Moreover, empirical research on unemployment and wage differences will be discussed in order to familiarize students with labor market data and methodologies of labor economics.

 



Course Category

Core Courses
Major Area Courses
X
Supportive Courses
Media and Management Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Related Preparation
1 Preliminaries Borjas Chap 1
2 Overview of the Labor Market Ehrenberg&Smith Chap 2
3 The Demand for Labor Borjas Chap 4
4 Labor Demand Elasticities Borjas Chap 4
5 Quasi-Fixed Labor Costs and Their Effects on Demand Ehrenberg&Smith Chap 5
6 Supply of Labor to the Economy Borjas Chap 2
7 Labor Supply: Household Production, the Family, and the Life Cycle Borjas Chap 3
8 Compensating Wage Differentials and Labor Markets Borjas Chap 6
9 Investments in Human Capital: Education and Training Borjas Chap 7
10 Gender, Race and Ethnicity in the Labor Market Ehrenberg&Smith Chap 12
11 Worker Mobility Borjas Chap 9
12 Pay and Productivity Borjas Chap 12
13 Students’ Presentations
14 Students’ Presentations
15 Students’ Presentations
16 Review of the Semester

 

Course Notes/Textbooks

Borjas, G:J., Labor Economics

Suggested Readings/Materials

Ehrenberg and Smith, Modern Labor Economics, 8th .ed

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
16
10
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
Presentation / Jury
1
30
Project
1
20
Seminar / Workshop
Oral Exams
Midterm
Final Exam
1
40
Total

Weighting of Semester Activities on the Final Grade
18
60
Weighting of End-of-Semester Activities on the Final Grade
1
40
Total

ECTS / WORKLOAD TABLE

Semester Activities Number Duration (Hours) Workload
Theoretical Course Hours
(Including exam week: 16 x total hours)
16
3
48
Laboratory / Application Hours
(Including exam week: '.16.' x total hours)
16
0
Study Hours Out of Class
16
2
32
Field Work
0
Quizzes / Studio Critiques
0
Portfolio
0
Homework / Assignments
0
Presentation / Jury
1
15
15
Project
1
10
10
Seminar / Workshop
0
Oral Exam
0
Midterms
0
Final Exam
1
25
25
    Total
130

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Competencies/Outcomes
* Contribution Level
1
2
3
4
5
1

To be able to acquire a sound knowledge of fundamental concepts, theories, principles and methods of investigation specific to the economic field.

X
2

To be able to apply adequate mathematical, econometric, statistical and data analysis models to process economic data and to implement scientific research for development of economic policies.

X
3

To be able to participate in academic, professional, regional, and global networks and to utilize these networks efficiently.

X
4

To be able to have adequate social responsibility with regards to the needs of the society and to organize the activities to influence social dynamics in line with social goals.

5

To be able to integrate the knowledge and training acquired during the university education with personal education and produce a synthesis of knowledge one requires.

6

To be able to evaluate his/her advance level educational needs and do necessary planning to fulfill those needs through the acquired capability to think analytically and critically.

X
7

To be able to acquire necessary skills to integrate social dynamics into economic process both as an input and an output.

X
8

To be able to link accumulated knowledge acquired during the university education with historical and cultural qualities of the society and be able to convey it to different strata of society.

X
9

To be able to take the responsibility as an individual and as a team member.

10

To be able to attain social, scientific and ethical values at the data collection, interpretation and dissemination stages of economic analysis.

X
11

To be able to collect data in economics and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1)

X
12

To be able to speak a second foreign at a medium level of fluency efficiently.

13

To be able to relate the knowledge accumulated throughout human history to their field of economics.

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest

 


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