Skip to main content
Unit outline_

ECON6009: Economics of the Labour Market

Semester 1, 2023 [Normal day] - Remote

The purpose of this unit is to study some of the major issues in modern labour markets. Trends such as the increase in part-time work, the growing inequality in income and earnings, changes in the returns to education, and the simultaneous increase in hours of work and unemployment are addressed. The material consists of both empirical facts relating to the labour markets and the theories which are used to understand these facts. Part of the unit is devoted to the study of wage and employment contracts in the presence of uncertainty and other information problems. Imperfect information will have implications for the level of employment and unemployment, the structure of wages, and the use of particular forms of compensation such as bonuses, trust funds, and performance bonds.

Unit details and rules

Academic unit Economics
Credit points 6
Prerequisites
? 
ECON6001 or ECON6701 or ECON6002 or ECON6702
Corequisites
? 
None
Prohibitions
? 
None
Assumed knowledge
? 

None

Available to study abroad and exchange students

Yes

Teaching staff

Coordinator Katrien Stevens, katrien.stevens@sydney.edu.au
Type Description Weight Due Length
Monitored exam
? 
Final exam
Written examination
45% Formal exam period 2 hours
Outcomes assessed: LO1 LO2 LO3 LO4 LO5 LO6
Presentation group assignment In-class Presentation
Presentation of assigned research article and leading of class discussion
8% Multiple weeks 30 minutes
Outcomes assessed: LO3 LO4 LO5 LO6
Online task Online quizzes
Online quiz with variety of question types
10% Multiple weeks 4 online quizzes
Outcomes assessed: LO1 LO3 LO2
Assignment Review article
Written report about an assigned research article
12% Multiple weeks max. 800 words
Outcomes assessed: LO1 LO2 LO3 LO4 LO5 LO6
Monitored test
? 
Mid-semester test
written examination
25% Week 07
Due date: 05 Apr 2023 at 18:00
1 hour
Outcomes assessed: LO1 LO2 LO3 LO4 LO5 LO6
group assignment = group assignment ?

Assessment summary

  • Online quizzes: 4 online quizzes, which will run throughout the semester and will be accessible for multiple days.
  • Mid-semester test: This test will be based on the material covered in Weeks 1 to 6.
  • Final exam: The final exam will cover material from the entire unit, but with an emphasis on material discussed after and not included in the mid-semester test.
  • Review article: Students will write a report in which they review the key ideas of an assigned research article. The article will be chosen from a list of assigned readings and is related to topics discussed in lectures. This is aimed at deepening and extending insights into the material studied. NO simple extensions for this assignment as it is due shortly before the (group) presentation of the research article.
  • Group presentation: In small groups, students will present key insights into the research article (also discussed in their review article). The group presenting will also prepare questions for and lead class discussion related to the article. These student presentations are planned for Weeks 9, 12 and 13 (TBC).

Detailed information for each assessment can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy (Schedule 1).

As a general guide, a High Distinction indicates work of an exceptional standard, a Distinction a very high standard, a Credit a good standard, and a Pass an acceptable standard.

Result name

Mark range

Description

High distinction

85 - 100

 

Distinction

75 - 84

 

Credit

65 - 74

 

Pass

50 - 64

 

Fail

0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

Use of generative artificial intelligence (AI) and automated writing tools

You may only use generative AI and automated writing tools in assessment tasks if you are permitted to by your unit coordinator. If you do use these tools, you must acknowledge this in your work, either in a footnote or an acknowledgement section. The assessment instructions or unit outline will give guidance of the types of tools that are permitted and how the tools should be used.

Your final submitted work must be your own, original work. You must acknowledge any use of generative AI tools that have been used in the assessment, and any material that forms part of your submission must be appropriately referenced. For guidance on how to acknowledge the use of AI, please refer to the AI in Education Canvas site.

The unapproved use of these tools or unacknowledged use will be considered a breach of the Academic Integrity Policy and penalties may apply.

Studiosity is permitted unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission as detailed on the Learning Hub’s Canvas page.

Outside assessment tasks, generative AI tools may be used to support your learning. The AI in Education Canvas site contains a number of productive ways that students are using AI to improve their learning.

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

WK Topic Learning activity Learning outcomes
Week 01 Introduction to labour economics Lecture (3 hr) LO1
Week 02 Individual labour supply Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5
Week 03 Dynamic labour supply (life-cycle) Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 04 Education and human capital Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 05 Labour demand and adjustment costs Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 06 Labour market equilibrium and compensating wage differentials Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 07 Mid-semester test Seminar (1 hr) LO2 LO3 LO5 LO6
Week 08 Discrimination Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 09 Student presentations 1 Seminar (3 hr) LO2 LO3 LO4 LO5 LO6
Week 10 Contract models: incentives and insurance Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 11 Unemployment Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 12 Student presentations 2 Seminar (3 hr) LO2 LO3 LO4 LO5 LO6
Week 13 Student presentations 3 Seminar (3 hr) LO2 LO3 LO4 LO5 LO6

Attendance and class requirements

  • Attendance: According to Faculty Board Resolutions, students in the Faculty of Arts and Social Sciences are expected to attend 90% of their classes. If you attend less than 50% of classes, regardless of the reasons, you may be referred to the Examiner’s Board. The Examiner’s Board will decide whether you should pass or fail the unit of study if your attendance falls below this threshold. If a unit of study has a participation mark, your attendance may influence this mark.
  • Lecture recordings: Most lectures (in recording-equipped venues) will be recorded and may be made available to students on Canvas. However, you should not rely on lecture recording to substitute your classroom learning experience.
  • Preparation: Students should commit to spend approximately three hours preparation time (reading, studying, homework, essays, etc.) for every hour of scheduled instruction.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

The key textbook for this unit is R.G. Ehrenberg and R.S. Smith Modern Labor Economics: Theory and Public Policy – International Edition, Routledge: preferably 13th Edition (2018) or 14th Edition (2021). This textbook is available for purchase online as either an e-book or a hard copy. [Previous editions of this textbook can be used, but students are responsible for studying the correct chapters/materials.]

The textbook will be supplemented with a number of published research articles. These articles are required reading and will form the basis for class discussion. Knowledge of these papers will be assumed and tested in an exam. These additional readings can be accessed through the Reading List on Canvas.

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. understand the economic concepts, theories, and approaches used in the study of labour economics
  • LO2. apply appropriate economic tools to analyse decision-making by suppliers and demanders of labour
  • LO3. evaluate underlying theories, concepts, assumptions, limitations, and arguments in labour economics
  • LO4. understand the main econometric problems and empirical techniques used in analysing labour markets, and in evaluating alternative theories
  • LO5. present coherent arguments on current issues in labour markets and labour market policies
  • LO6. communicate effectively, both orally and in writing, through assessment tasks and tutorial participation.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

This section outlines changes made to this unit following staff and student reviews.

Based on student feedback, student learning is enhanced by (1) students preparing for and being actively involved in tutorials and (2) active participation in class discussion after student presentations. We will trial a set of online quizzes to support student learning throughout the semester, and possibly organize tutorial groups to prepare and present solutions to a problem set in class/over Zoom. Further feedback is welcome.

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.