Labour Economics

Introduction What do we learn in Labour Economics? ?

Typical Questions Unemployment Wage Setting Minimum Wage Less Typical Questions Is Beckham getting overpaid? Is it worth being at Chula? Unusual Questions Should I get married What is the best way to meet my soulmate? …

The topics we will cover Topics Week Introduction: Overview1 1Labour Supply2 2Labour Supply: Special topics3 3Labour Demand4 4Labour market in equilibrium5 5Labour market institutions6 6Wage structure& Wage Inequality7 Midterm 7Human Capital8 8Immigration9 9discrimination10 Unemployment11& 12 11Labour Market in developing countries13

Assessment 1 Group presentation in class on topics of the weeks of Labour Institutions (wk 6) Or Immigration (wk 9) (15%) 1 Written Report: 1-3 persons on ‘job’ at the end of the term (20%) Some exercises in some weeks (5% with class attendance) Midterm & Final Exam (60%)

Reading and Textbooks Textbooks MUST HAVE Labor Economics: G.Borjas (3 rd edition) Modern Labor Economics: Theory and Public Policy: R. Ehrenberg& R. Smith (6 th onwards) Supplements (Thai) ( some topics ) ตลาดแรงงานไทยกับนโยบาย : สุมาลี ปิต ยานนท์ตลาดแรงงานไทยกับนโยบาย เศรษฐศาสตร์แรงงาน สุมาลี ปิตยานนท์ เศรษฐศาสตร์แรงงาน Extra Reading: articles, research papers, books

Let’s Start

Easy Must-Know Technical Terms Total Population Labour Force Employed Unemployed Seasonally Unemployed Out-of-Labour Force

Easy Must-Know Technical Terms Population Labour Participation Out-of-Labour Force Participation Rate Unemployed Unemployment Rate Working age Full Time/Part Time For Thailand:Terminology in.htm

Some useful datasets for Labour Stats Thailand: Labour Force Survey, Socio- Economics Survey, Census UK: Labour Force Survey, Vacancy Survey USA: Current Population Survey

Stylised Facts

Thailand อัตราการว่างงานจำแนกตามระดับการศึกษารายไตร มาส, ที่มา : สำนักพัฒนาการเศรษฐกิจและ สังคมแห่งชาติ, กระทรวงแรงงาน Population Labour Participation Out-of-Labour Force Participation Rate Unemployed Unemployment Rate Wage

Contact Me /or Course Materials Office Hours: Room: Econ 215/1 Tuesday Course Materials and Query Web blog: linked from  staff page  me  teaching  “Labour Economics” (But…not ready yet! Sorry)

Let’s play some game Write down Your ID number at the top Left Pick 2 digit number from your ID card Male/ Female Then, Imagine…..

Imagine…. Q.1 Would you accept the job is you get paid THIS AMOUNT per hour? Q.2 What is the minimum PER HOUR you want to work in this job? Q.3 What is the minimum PER MONTH you want to work in this job? Q.4 What is the minimum PER YEAR you want to work in this job? Q.5 What is the Maximum PER HOUR you want to pay someone? Q.5 What is the Maximum PER MONTH you want to pay someone? Q.5 What is the Maximum PER YEAR you want to pay someone?

Imagine…… อาชีพ 1 อาชีพ 2 อาชีพ 3 อาชีพ 4 อาชีพ 5

Next Class Supply of Labour: simple models