Introductory Labour Economics for Public Policy

Date/Time: TBC

Location: TBC

Cost: $500 + GST

Course Outline

Description

Labour economics is extremely relatable to most people since it touches on some aspect of their own life experiences – even for those who have never formally been in the labour market. For similar reasons, almost any social or economic policy will have either a direct or indirect effect on workers, potential workers, employers, or all of the above. Hence, those involved in policy should understand how labour markets function, including those factors that influence decision-making by individuals or organisations. Without this understanding, it may be difficult for policy makers to fully assess the ramifications that their policies are likely to have on the economy or on society. Hence, the main objective of this course is to provide participants with a basic understanding of the theory underlying labour economics as well as an understanding of how this theory has been applied, and can continue to be applied, to public policy. This course provides an introduction to labour economics and will help participants understand the following:

• how labour markets function, how labour economics fits into the larger economics framework, and the important role these markets play in people’s lives;
• how labour economics fits into policy making, how it can shape policy, and the latest policy debates pertaining to labour economics;
• how different policies may affect individuals’ decision making and choices; and
• labour economics in the New Zealand context, including key data sets available for analysis and previous research done using these data.

Topics to be covered include, but are not limited to, supply and demand, minimum wages, labour market effects of taxes and subsidies, unemployment, the collective bargaining relationship, discrimination, inequality, human capital, automation, and the ‘gig’ economy.

Course Objectives

This course will provide participants with a better understanding of the following:

• An understanding of key concepts and terms used in labour economics
• Potential ways that policies may affect labour markets and labour market outcomes
• When a labour economics framework may be useful in developing or evaluating policy

Session outline

• Introduction to Labour Economics
• Labour Supply
• Labour Demand
• Labour Market Equilibrium & Wage Determination
• Compensating Wage Differentials
• Human Capital
• Labour Market Contracts and Work Incentives
• Research and data for NZ labour markets

Target Audience and assumed background

This course will be most helpful to policy analysts and policy advisors who would like to have a better understanding of how policy might impact labour markets and labour market outcomes. The course will also be useful for those who have had some economics training but have not thought about labour economics or simply would like a refresher on some of the basics.

Course Costs

This course is provided by the Government Economics Network (GEN) at a cost of $500 plus GST per person.

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