ECON 315Labor Economics

3 credits · Economics · Penn State

Labor Economics, ECON 315 (3 credits) (GS) (BA). This course is designed to develop the concepts and techniques of labor economic theory and its applications. Key questions to consider for the course include: Why do some people earn more than others? When would people choose to work or not? When would someone choose to further his or her education? Do earnings differences necessarily mean discrimination? To answer these questions, students will begin the course by learning the basics of the labor market, including labor demand and labor supply. Employment and earnings are then discussed, including the definition of unemployment, different types of unemployment, and reasons individuals would choose to work or not. Data is used to examine labor market trends and their implications. The course also explores human capital, wage determination, collective bargaining, wage differentials, discrimination, and related government policies. Considerable emphasis will be placed on problem solving and the application of labor economics to selected public policy issues and current economic events. Knowledge and understanding will be assessed through exams, homeworks, and a final project. This course is one of several 300-level electives which can used toward the Economics major and meets requirements for a General Education (GS) or Bachelor of Arts social science course.