The economics of labor and human capital is a cornerstone in the study of economics and economic development. The course seeks to provide postgraduate students with a comprehensive understanding of the complex interactions that take place in the labor markets. It analyzes the dynamics between employees, who strive to maximize their well-being, and employers, who seek to maximize their profits, and their responses to changes in government policies and/or in the demographic composition of the populations. In order to better understand how the labor markets work, the course covers both theoretical and empirical aspects of the labor markets and human capital (such as the supply of - and demand for - labor, wage rates and employment levels determination, inequality, informality migration, collective bargaining and sources of human capital differences) with empirical implications that can be tested with real world data. A particular focus is given to the evolution of economic structure, labor market frictions, unemployment and poverty, informality, education and labor market institutions and their implications for developing countries. Understanding these issues shall help formulate recommendations for public policy. The course is relatively self-contained. However, familiarity with microeconomics, or at a minimum, a basic understanding of the topics covered in microeconomics – is essential. It is highly recommended that students revise their intermediate microeconomics textbook and notes. It is also assumed that students are familiar with basic algebra and calculus.
Learning Outcomes:
This course shall help students:
- master the theories and concepts of labor economics and human capital and is able to use these in their analysis.
- develop analytical capabilities in terms of labor economics and human capital and being able to develop and design policies to decision-makers.
- acquire the ability to understand and analyze labor markets and human capital in the context of developing countries, specifically enabling them to understand the obstacles to the development of labor markets.
- acquire the knowledge and ability to understand and analyze the political economy of labor markets.
- Teacher: Mohammad Abu-Zaineh
- Teacher: Amr Ragab