About
This course studies the operation of the market for labor, including how wage rates are determined, how the level of employment is determined, and how and why wage rates and employment levels differ across different industries and different types of jobs. Other important topics include the role of labor unions, and the role of the government in taxing or subsidizing labor and in regulating labor market practices (including imposing minimum wages). The course also studies wage contracting behavior and why it may cause wage rates to be relatively inflexible over time.
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