Labour Economics-Theory and Practice

By Prof. Falguni Pattanaik | IIT Roorkee

Learners enrolled: 1020 | Exam registration: 248

ABOUT THE COURSE:
Labour Economics is a field of study that examines the behavior of individuals, firms, and markets in relation to the employment and compensation of labour. This course delves into the analysis of workforce trends, wage determination, labor market policies, and the impact of government interventions on employment. Students will explore theoretical frameworks and empirical methods to understand the dynamics of labour markets, addressing issues such as unemployment, discrimination, and the role of human capital in shaping economic outcomes.

INTENDED AUDIENCE: UG & PG

INDUSTRY SUPPORT: Both Public Sector and Private Sector Industries

Summary

Course Status :	Completed
Course Type :	Elective
Language for course content :	English
Duration :	8 weeks
Category :	Economics Management Studies Economics
Credit Points :	2
Level :	Undergraduate/Postgraduate
Start Date :	22 Jul 2024
End Date :	13 Sep 2024
Enrollment Ends :	05 Aug 2024
Exam Registration Ends :	16 Aug 2024
Exam Date :	22 Sep 2024 IST

Note: This exam date is subject to change based on seat availability. You can check final exam date on your hall ticket.

Page Visits

Course layout

Week 1: Evolution and Growth of Labour Economics, Overview of Labour Market: The actors in the Labour Market; Need of Labour Market Theories, Dynamics of Labour Market.

Week 2: Labour Supply: Neoclassical Model of Labour Supply; Household Production Model of Labour Supply; Hours of Work Decision. Policy Application: Welfare Programs and Work Incentives

Week 3: Labour Demand: Neoclassical Model of Labour Demand: Employment Decision in Short-run and Long-run, Elasticity of Demand for Labour and its Applications. Policy Application: Affirmative Action and Production Costs

Week 4: Labour Market Equilibrium (Competitive market): Equilibrium in a single Competitive Market, Competitive Equilibrium across Labour Markets; The Cobweb Model. Policy Application: Payroll Taxes and Subsidies

Week 5: Labour Market Equilibrium (Non-competitive market): Outcomes of Non-competitive Labour Markets: Monopsony, and Monopoly.

Human Capital and Labour Market: Education in the Labour Market: The Schooling Model, Education and Earning, Estimating the Rate of Return to Schooling.

Week 6: The Wage Structure and Wage Differentials: Wage Structure; Compensating Wage Differential and Job Amenities, Policy Application: Health Insurance and the Labour Market

Week 7: Labour Market Discrimination: Race and Gender in the Labour Market, Employer Discrimination, Employee Discrimination, Policy Application: Determinants of the Female-Male Wage Ratio

Labor Mobility: International and Domestic Worker Mobility, Decision to Immigrate; changes in income levels and migration costs, Job Turnover Job Turnover and the Age-Earnings Profile, Policy Applications on Worker Mobility

Week 8: Unemployment: Types of Unemployment, The Steady-State Rate of Unemployment, Job Search, Policy Application: Unemployment Compensation, The Phillips Curve

Labour Market Dynamics in India: Employment, Unemployment and Labour Force Dynamics, Structural Changes in the Economy and Employment, Wage Patterns and Inequality, Increasing Informalization of Employment: Challenge of Social Security, Employment Strategies, Policies and Programmes

Books and references

Borjas, George, J, Labor Economics, McGraw-Hill: New York, 6^th Edition-2012
Cahuc, Pierre, and Andre Zilberberg, Labor Economics , MIT Press: Cambridge, Mass. and London 2^nd Edition
Sandrine Caze and SherVerick, Perspectives on Labour Economics for Development, Academic Foundation, New Delhi-2013
Campbell McConnell, Stanley Brue and David Macpherson, Contemporary Labor Economics-McGraw-Hill Education, New York, 11^thEdition-2016
Ronald G Ehrenberg and Robert S. Smith, Modern Labor Economics: Theory and Public Policy, Prentice Hall, 11^thEdition-2011
Ben Fine, Labour Market Theory- A Constructive Reassessment, Routledge-1998

Instructor bio

Prof. Falguni Pattanaik

IIT Roorkee

Prof. Pattanaik is an Associate Professor at the Department of Humanities and Social Sciences, Indian Institute of Technology, Roorkee, with extensive knowledge in the field of Labour and Development. Prof. Pattanaik's academic endeavors include teaching graduate and postgraduate courses on Labour Economics, and Macroeconomics.
As a researcher, Prof. Pattanaik focuses on the theoretical and practical aspects of Macroeconomics in relation to Labour and Development, specifically examining issues concerning Growth, Employment, and Poverty. His valuable contributions have been published in esteemed national and international journals specializing in the field of Labour and Development. Additionally, Prof. Pattanaik actively engages in Institutional and Government-sponsored projects, leveraging his expertise as an expert consultant. His contribution extends further as an independent reviewer and esteemed member of the editorial teams for various national and international journals.

Course certificate

The course is free to enroll and learn from. But if you want a certificate, you have to register and write the proctored exam conducted by us in person at any of the designated exam centres.
The exam is optional for a fee of Rs 1000/- (Rupees one thousand only).
Date and Time of Exams: 22 September 2024 Morning session 9am to 12 noon; Afternoon Session 2pm to 5pm.
Registration url: Announcements will be made when the registration form is open for registrations.
The online registration form has to be filled and the certification exam fee needs to be paid. More details will be made available when the exam registration form is published. If there are any changes, it will be mentioned then.
Please check the form for more details on the cities where the exams will be held, the conditions you agree to when you fill the form etc.

CRITERIA TO GET A CERTIFICATE

Average assignment score = 25% of average of best 6 assignments out of the total 8 assignments given in the course.
Exam score = 75% of the proctored certification exam score out of 100

Final score = Average assignment score + Exam score

YOU WILL BE ELIGIBLE FOR A CERTIFICATE ONLY IF AVERAGE ASSIGNMENT SCORE >=10/25 AND EXAM SCORE >= 30/75. If one of the 2 criteria is not met, you will not get the certificate even if the Final score >= 40/100.

Certificate will have your name, photograph and the score in the final exam with the breakup.It will have the logos of NPTEL and IIT Roorkee .It will be e-verifiable at nptel.ac.in/noc.

Only the e-certificate will be made available. Hard copies will not be dispatched.

Once again, thanks for your interest in our online courses and certification. Happy learning.

- NPTEL team

SWAYAM Helpline / Support