ECO339Y, 2011-2012

This is the public “front end” for the more detailed course website that will eventually be accessible through the University of Toronto Portal (Blackboard).

Contact Information

Professor Michael Baker
150 St. George Street, #238
Email:baker@chass.utoronto.ca

Professor Dwayne Benjamin
150 St. George Street, #168
Email:dwayne.benjamin@utoronto.ca

Course Description

This is a survey course of labour economics. The set of questions addressed by labour economists is wide-ranging, beginning with individual decisions regarding how much to work, and how much education to acquire, to such “big picture” questions as to the determinants of income inequality and unemployment.

Labour economics is an empirical field of study. On the one hand, this means that considerable time is spent examining labour market data for salient patterns, using economic theory to aid in interpretation. On the other hand, data and statistical methods are used to evaluate prominent economic theories of individual behaviour and market performance.

This course provides a balance of theory and evidence concerning important labour market issues. The core theoretical apparatus we will develop, and critically evaluate, is the neoclassical supply and demand model. In this sense, labour economics builds on what you learned in intermediate microeconomics. But departing from intermediate micro theory, you will also develop some of the analytic tools necessary to evaluate empirical evidence. Moreover, learning key “facts” about the labour market is a central objective of the course.

Prerequisites

Please note that the course prerequisites are enforced rigorously, and without exception:

  1. Intermediate Microeconomics (ECO200Y1/ ECO204Y1/ ECO206Y1)
  2. Statistics ( ECO220Y1/ ECO227Y1/ (STA247H1, STA248H1)/ (STA250H1, STA255H1)/ (STA257H1, STA261H1)

The course builds heavily on intermediate-level microeconomic theory, which you may find worth reviewing before classes begin. In addition, we discuss regression analysis extensively, building on material covered in ECO220. While we will review this as the course proceeds, you may also find it worth reviewing before classes begin.

For students who have not taken their courses on the St. George campus, please note that course prerequisites demand full-year versions of micro and statistics. It is also redundant, but we will note that "prerequisite" means that the course must be successfully completed before enrolment is permitted.

Student Evaluation

The grading scheme has not been finalized, but may include:

  1. At least two or three mid-term tests. Note that unlike previous years, all tests will be mandatory, and will count for their full weight;
  2. At least one writing assignment (e.g., a short term paper, likely in the second semester);
  3. A final exam.

There will also be problem sets. The problems sets will not be graded, but will be taken up in occasional tutorials, and serve to prepare students for the graded components of the course.

Meetings

The class is scheduled Tuesdays 11-1, and Fridays 10-11. Students should set aside all of these scheduled hours. Usually, lectures will be held in the T11-1 slot. The F10-11 slot will be used for a variety of purposes, possibly including: tests, tutorials, special presentations, and lectures.

Textbook

Dwayne Benjamin, Morley Gunderson, Thomas Lemieux, and Craig Riddell: Labour Market Economics, Sixth Edition, 2007, McGraw-Hill Ryerson.

Syllabus

The course syllabus will be available closer to the first day of classes, Tuesday, September 13th.