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Labour Economics

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

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Labour Economics

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  1. Labour Economics

  2. Introduction What do we learn in Labour Economics? ?

  3. 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? …

  4. The topics we will cover

  5. 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%)

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

  7. Let’s Start

  8. Easy Must-Know Technical Terms

  9. 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 http://122.154.4.16/yr_statistics/yr_statistics/framemain.htm

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

  11. Stylised Facts

  12. Thailand • อัตราการว่างงานจำแนกตามระดับการศึกษารายไตรมาส, ที่มา : สำนักพัฒนาการเศรษฐกิจและสังคมแห่งชาติ, กระทรวงแรงงาน • Population • Labour Participation • Out-of-Labour Force • Participation Rate • Unemployed • Unemployment Rate • Wage

  13. 1988-2006

  14. 1988-2006

  15. Contact Me /or Course Materials • Office Hours: • Room: Econ 215/1 • Tuesday 13.30-15.00 • Course Materials and Query • Web blog: linked from www.econ.ac.th staff page  me  teaching  “Labour Economics” (But…not ready yet! Sorry)

  16. 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…..

  17. 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?

  18. Imagine…… อาชีพ1 อาชีพ2 อาชีพ3 อาชีพ4 อาชีพ5

  19. Next Class • Supply of Labour: simple models

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