This is a one semester course in labor economics for undergraduate students. We will start with an overview of the labor market demonstrating how demand for labor and supply of labor together determine employment and wages. Following this, we will delve deeper into what determines labor demand by analyzing profit maximizing behavior of individual firms under various market conditions. Next we will further explore what determines supply of labor by analyzing how preferences for consumption, leisure, and occupation characteristics determine individuals’ willingness to work. Finally, we will briefly analyze special topics in labor economics including immigration, wage differentials by race and gender, and unemployment.
Prerequisites: Intermediate Micro (Econ 121 or 125) and Econometrics (Econ 131 or 135).