ECONOMICS 360
LABOUR ECONOMICS
Winter 2003

If printed on paper, this page may be outdated. Check the Econ 360 course homepage for changes.
  Instructor
 Prof. Chris Ferrall
OfficeMC A519
HoursTu 2:30-3:30
Th 10:00-11:00
Phone533-6658
E-mailferrallc@post.queensu.ca

OBJECTIVES

Description of Econ 360 in the A&S Calendar:
An analytical course covering topics in labour supply analysis, the economics of human capital, labour demand, the operation of labour markets, the economic behaviour and effect of unions, and selected aspects of wage structure. PREREQUISITE ECON 212*.
That description was written many years ago and has not been updated.  It is not accurate.  A better description of our objectives is:
An analytical and empirical course covering the economics of human capital, job market signalling,  job search, and wage bargaining. The course introduces data sources available for research and honours theses.  It emphasizes the use of the World Wide Web to present results and the use of spreadsheet software to carry out basic economic analysis. It asks students to read selected classic papers in labour economics.

While Econ 212 is the only prerequisite, students with some background in statistics (e.g. Econ 250), some experience with spreadsheet programs (e.g. Microsoft Excel), and some experience producing HTML pages will find elements of the course easier.  However, students without such prior experience will also find the course more valuable.  This course focuses on skills needed in the Honours program, in graduate school (both in economics and related fields), and in the job market for university graduates.

COURSE MATERIAL

You are not required to purchase a textbook.
 
Lecture Notes
Reading List
Supplemental Textbooks on Reserve (location: Stauffer Reserve)
-Labour Market Economics: Theory Evidence and Policy in Canada, by Dwayne Benjamin, Morley Gunderson, and W. Craig Riddell, fourth edition, Ryerson. (BGRin the outline).
-Labor Economics, by George J. Borjas, first edition, McGraw-Hill.(Bin the outline)
-Contemporary Labor Economics, by C. R. McConnell, S. L. Bruce, D. A. Macpherson, fifth edition, 1989, Irwin/McGraw Hill. (MBM in the outline)
 

MARKING

Item Weight
In-class & take-home
problems 		15%a
HW #110%
Better Mark on HWs 2-335%
Worse Mark on HWs 2-320%
In-class Exam April 320%b
Total100%
Notes:
a(A&S 6a)Students are expected to be and, at the discretion of the instructor, may be required to be present at all lectures, laboratories, tutorials, tests, and examinations in their courses (8c) Tests in regular class periods may be held by instructors at any time.
  b(A&S 7.e.i) A test or quiz is not deemed to be major if it: 1) takes place in a regular lecture or laboratory period; 2) covers no more than the work of the preceding six weeks; and 3) counts for no more than 10 per cent of the final mark in a full course or 20 per cent of the final mark in a half course.

 

ACTIVITIES

Homework Assignments
     Marks Distribution Out of 20
#
Description 
 Deadline  Calculations  Reporta Early Birdb
1 Create homepage. Get data from the LFS out of the QED Data Archive.  Do a simple IRR calculation using a spreadsheet. Mon.,Jan. 27
16
0
4
2 Compute internal rates of return to a Bachelor's degree in Canada;  Explore the effects of Self-selection; Analyze tuition policy. Mon.,Feb.24 (final)
12
6
2
3 Compute the  search model of unemployment using a spreadsheet;  analyze the impact of unemployment insurance on job search; Fri.,Mar.28
10
10
0
Notes:
You are strongly encouraged to work in groups of two or (at most) three.
a All assignments must be posted on your homepage. (6a) For purposes of evaluation, assignments must be submitted in a legible form. Instructors may require that work be in typescript, but must state this at the outset of the course. A student who foresees difficulty meeting this requirement must inform the instructor immediately. The report component includes: content, style, grammar, etc. 
b Reports posted by midnight the Friday before the deadlines receive this bonus. Reports posted after midnight on the deadline receive no credit. (A & S6a) Students ... at the discretion of the instructor may be required to ... to submit essays, exercises, reports, and laboratory work at the prescribed times. 

 
In-class & take-home problems
 
Students begin with 12 out of 15 marks in this area. During lecture time there will be short problems and activities, and in some cases these problems will be taken home and handed in by e-mail. Some assignments will be marked according 0, 1, or 2. It is not possible to make up in-class assignments, and you must be in class on the day a take-home problem is assigned to be able to hand it in. Students who attend class most days and receive mostly 1s or 2s on assignments keep their 12 marks. Students who miss a large number of assignments can receive less than 12 marks in this area. Students who ask clarifying questions (in class, by e-mail, or during office horus) about the material and about assignments well before deadlines can increase their marks from 12 to 15.
 
Essay Exam
 
There is no final exam. On the last day of class an exam will be given that will be an essay exam about the readings on the readings list and some selected readings for the reserve textbooks about labour market concepts and institutions. The specific coverage of the exam will be specified in advance. The exam will be "closed book" and you will not be asked any questions requiring mathematics.

EXCUSES

Concerning illness the A & S calendar states:
If there is a significant effect on attendance or academic performance so that the student may wish to request ... an examination deferral ... the student is responsible for obtaining appropriate documentation at the time of treatment. The student must provide the documentation with any request for accommodation and appeal directly to the instructor in a timely manner.
With regards to acute illnesses or unexpected short-term commitments (family, university activities, etc.) I interpret this policy in the following way:
In Class work
The weighting of in-class work implicitly accounts for the fact that most students will during the course of a term miss a small number of meetings. I appreciate hearing that you were sick or had other important commitments, and I'm always willing to address specific questions about missed in-class discussion, but as stated above there is no mechanism for 'making up' missed in-class work.
 
Homework Assignments:
Every attempt is made to provide ample time to complete these assignments ahead of the deadline, by announcing the assignments well in advance and covering the material in class well ahead of the deadline. Therefore, the timing of when you complete the assignment is a choice. If you are not risk averse you might choose to complete the assignment near the deadline taking your chances that an acute illness will not cause you to miss the deadline. In that sense an acute illness is not an excuse for missing the deadline.
 
The in-class exam:
For the essay exam held on the last day of class I will strictly interpret the A & S calendar. "Timely manner" will be interpreted as receipt of a phone message or e-mail by noon of the day of the exam and receipt of a dated, signed, and sufficiently detailed document concerning treatment (or family emergency) as soon as possible thereafter. Students who are excused from the in-class exam will be required to write a make up exam the following week. The exam will be a different exam and will include less choice of questions to answer and somewhat expanded coverage explained ahead of time.
 
The point of this policy is to provide partial insurance against acute illness that would seriously affect your performance on the exam day and to avoid insuring you against poor preparation for the exam ahead of time. Since the exam does not carry a heavy weight in your overall mark, a sickness that just makes you a little slower on the exam day should not keep you from writing the exam. A person truly sick on the day of the exam will understand that the tougher exam might cost at most a 3 point drop in their overall course mark and will be glad to accept that in order to stay home and get well. The poorly prepared student who might be sick enough to get an excuse should realize they will have to prepare even more within a short period of time and, I hope, the prefer to write the exam in class.