Labour Economics

Main Contents

Theory of Individual Labour Supply & the Work-Leisure Model

Utility Maximisation in Labour Market

Wage Rate Changes: Income Effect and Substitution Effect

Backward-bending Labour Supply Curve

Wage Elasticity of Labour Supply

Labour Supply of Women

Cash Grants and Labour Supply

Impact of Welfare on Labour Supply

The Earned Income Tax Credit

The Theory of Job Search

A Stock-Flow Model of the Labour Market

Becker’s Time Allocation Model

Becker’s Income Effect and Substitution Effect

Commodity Characteristics

Household Choices

Cyclic Changes in Participation Rates

Lifecycle Aspects of Labour Supply

The Choice of Retirement Age

Child Care and Labour Supply

Theory of Perfectly Competitive Labour Market

Wage and Employment Determination

Wage Determination within the Firm

The Employment Contract

Motivating Workers

Compensation Plans

Incentive Pay: Piece rate and Time rate

Tournament

Economics of Fringe Benefits

Theory of Optimal Fringe Benefits

Profit-sharing Equity Compensation

Efficiency Wage Payments

Hedonic Wage Theory and Employment Benefits

Production Function – Demand for Labour

Employment Decision in the Short-Run