OVERVIEW

The teaching unit in labor economics focuses on the study of the functioning of the labor market, with particular attention to the dynamics of labor demand and supply and the
management of labor within organizations. The teaching unit is structured in two modules addressing both microeconomic and organizational aspects, providing an overview of the main topics in the field and their role within the study program.

AIMS AND CONTENT

LEARNING OUTCOMES

The course aims to provide macroeconomic and microeconomic models of Labour Economics, that may help solve some of the current labour market issues.

AIMS AND LEARNING OUTCOMES

Expected learning outcomes (Dublin descriptors):

1. Knowledge and understanding: The student will be able to describe and explain the main theoretical models concerning the behavior of workers, firms, and institutions in wage and employment determination, referring to empirical evidence from industrialized countries, at the end of the lectures and based on the provided materials.

2. Applying knowledge and understanding: The student will be able to apply the learned models to solve basic economic problems related to the labor market, during classroom exercises and written assessments.

3. Making judgments: The student will be able to critically analyze and evaluate data and facts concerning the labor market, using the acquired knowledge, during classroom discussions
and the exam.

4. Communication skills: The student will be able to clearly and appropriately present labor economics topics, actively participating in classroom debates and demonstrating mastery of specific terminology during the written exam.

5. Learning skills: The student will be able to autonomously integrate the acquired knowledge to study other economic and legal subjects, also by consulting additional materials.

PREREQUISITES

No specific prerequisites are required, but a good understanding of the concepts developed in the Microeconomics and Macroeconomics modules is recommended for effective learning of the topics covered.

TEACHING METHODS

Lectures are held in person and include frontal teaching, guided discussions, and the solving of exercises in mathematical form. Support and accommodations are provided for students
with learning disabilities or special needs, according to university procedures. Attendance is not mandatory. The teaching methods are designed to support the achievement of the
expected learning outcomes.

Students with valid certifications for Specific Learning Disorders (SLDs), disabilities or other educational needs are invited to contact the teacher and the School's contact person for disability at the beginning of teaching to agree on possible teaching arrangements that, while respecting the teaching objectives, take into account individual learning patterns. Contacts of the teacher and the School's disability contact person can be found at the following link Comitato di Ateneo per l’inclusione delle studentesse e degli studenti con disabilità o con DSA | UniGe | Università di Genova

SYLLABUS/CONTENT

The program for the first part of the module covers the first three chapters of the book Manuale di economia del lavoro by Pepi De Caleo and Brucchi Luchino (2015), published by Il Mulino (ISBN: 978-88-15-25906-6). Specifically, the topics covered in the lessons and included in the exam are as follows:

I. Labor Supply

1. Introduction
2. Theory
3. Empirical Evidence
4. Economic Policy

II. Labor Demand

1. Introduction
2. Technology and Production
3. Profit Maximization and Labor Demand
4. The Trade-off Between Working Hours and Employment
5. Labor Factor Heterogeneity: Demand for Skilled and Unskilled Labor
6. The Dynamics of Labor Demand and the Role of Adjustment Costs
7. Dismissal Costs and Temporary Labor Demand

III. Labor Market Equilibrium in Perfect Competition

1. Introduction
2. Static Equilibrium of Perfect Competition with Workers
3. Wage Differentials

The second part illustrates how, through Organizational Architecture (OA), a company can find, manage, motivate, and monitor its workforce.

• Conflict of Interest and Contracts
• Information Asymmetries and Economic Models of Signaling and Principal-Agent Theory
• Organizational Architecture and Its Relationship with the External Environment and Business Strategy
• Task Assignment – When and How to Delegate
• Task Assignment – Centralization vs. Decentralization; Organizational Forms
• Motivating and Attracting Qualified Workers
• Performance-Based Compensation

In addition to the course materials provided by the instructor, Chapters 7–8 of Manuale di economia del lavoro by Pepi De Caleo and Brucchi Luchino (2015) can be consulted for further study.

RECOMMENDED READING/BIBLIOGRAPHY

The following textbook is a useful complement to the topics covered in class:

Pepi De Caleo, Brucchi Luchino (2015), Manuale di economia del lavoro, Il Mulino (ISBN: 978-88-15-25906-6)

For the second part of the course, students may also consult:

Brickley, J., Zimmerman, J and Smith, C. (2008), Managerial Economics and Organizational Architecture, McGraw Hill, ISBN-13: 978-0071284806.

Any supplementary or updated materials will be communicated by the instructor during the course.

Pepi De Caleo, Brucchi Luchino (2015), Manuale di economia del lavoro, Il Mulino (ISBN: 978-88-15-25906-6)

Brickley, J., Zimmerman, J e Smith, C. (2008), Managerial Economics and Organizational Architecture, McGraw Hill, ISBN-13: 978-0071284806

TEACHERS AND EXAM BOARD

LESSONS

LESSONS START

Lectures will start in the second semester. The detailed schedule is available on EasyAcademy: https://easyacademy.unige.it/portalestudenti/

Class schedule

The timetable for this course is available here: Portale EasyAcademy

EXAMS

EXAM DESCRIPTION

For attending students, two optional mid-term written assessments are scheduled at the end of each part of the module. A minimum score of 18/30 is required to pass each assessment.
For official exam sessions, candidates must respond in writing to open-ended questions covering the entire program of the module. Non-attending students take the final written exam
on the entire program. Any specific arrangements for Erasmus students will be communicated by the teacher

ASSESSMENT METHODS

The assessment of learning outcomes is carried out through a written exam, which evaluates the ability to apply theoretical models to practical problems, the correct use of terminology,
clarity of exposition, and critical analysis skills. Students should consult EasyAcademy for details on exam dates.

FURTHER INFORMATION

Please contact the teacher for further information not included in the teaching unit description.