ECON4715 - Labour Economics
Schedule, syllabus and examination date
The course will present important theories and methods for analysing labour markets and for understanding labour market research.
The course emphasizes relationships between macro phenomena such as unemployment and agents’ behaviour in the labour market, focusing on informational problems arising in labour market interactions as well as on the role of unions and employers associations.
The course will also present the empirical tools used to disentangle causality from correlation in numerous labour market studies. These tools are then used, together with the major theories presented, to examine different topics of interest for policymakers such as unemployment insurance, sickness and disability insurance, education and human capital investment, wage bargaining, minimum wage, wage contracts etc.
You should know
- basic mechanisms of the labour market, in particular how unemployment and wage and productivity differences can arise as equilibrium phenomena
- the building blocks for studying the relationship between the micro and the macro sides of the economy
- key elements of empirical work that aim at evaluating and quantify the mechanisms of the models
You should be able to
- use analytical models of behaviour and interactions in the labour market as tools to analyse the mechanisms that determine outcomes in the labour market, the performance of labour markets
- analyse policy questions related to labour markets
- be able to read and understand project reports and journal articles that make use of the concepts and methods that are introduced in the course
- be able to make use of the course content in your own academic work, for example in analyses that are part of the master’s thesis
Students who are admitted to study programmes at UiO must each semester register which courses and exams they wish to sign up for in Studentweb.
If you are not already enrolled as a student at UiO, please see our information about admission requirements and procedures.
Apply for guest student status if you are admitted to another Master's programme, or have completed a master in Economics at UiO or another Norwegian University.
Formal prerequisite knowledge
- Bachelor's degree in Economics, or equivalent.
- ECON3150 - Introductory Econometrics / ECON4150 - Introductory Econometrics.
- Students on the master’s programme in Economic Theory and Econometrics (the 5-year programme) also need ECON3010 - Anvendt økonomisk analyse.
Recommended previous knowledge
- Mathematics requirements equivalent to requirements for first-year master students. Basic undergraduate micro and macroeconomics.
- The course develops basic issues and notions from both micro and macro economics. Important micro building blocks are the theory of the firm, information economics, welfare economics, and the theory of consumer behaviour, hereunder labour supply. Among important macro building blocks are the analytical foundations for the Phillips curve, and the idea of rational expectations. It is desirable to have some background in mathematics beyond the elementary level, in particular knowledge of the Bellman principle, and theory of integration.
- 10 credits overlap with ECON510 Arbeidsmarkedsøkonomi
- 10 credits overlap with SØK510 Arbeidsmarkedsøkonomi, 3. avd. samfunnsøkonomi
- 10 credits overlap with SOØ510 Arbeidsmarkedsøkonomi, 3. avd. sosialøkonomi
Lectures: 2 hours per week througout the semester.
Seminars: 2 hours per week through parts of the semester.
Compulsory tuition activities:
- A compulsory term paper.
- A compulsory oral presentation.
If the compulsory term paper is not approved, you may be given a second attempt to hand in a new term paper/improve the term paper within a short deadline.
When the compulsory tuition activities are approved, the result will be registered. The compulsory tuition activities will be valid for 8 consecutive semesters.
Candidates who have passed the course before autumn 2016 and wish to re-take the exam need to get the compulsory tuition activities approved before they can re-take the exam.
Absence from compulsory tuition activities
If you are ill or have another valid reason for being absent from compulsory tuition activities, your absence may be approved or the compulsory activity may be postponed.
A 3-hour written school exam.
You must have passed the mandatory activities in order to sit for the exam.
Use of sources and citation
Examination support material
Students may use dictionaries at this exam. Dictionaries must be handed in before the examination. Please read regulations for dictionaries permitted at the examination.
Language of examination
The examination text is given in English.You may submit your response in Norwegian, Swedish, Danish or English.
Grades are awarded on a scale from A to F, where A is the best grade and F is a fail. Read more about the grading system.
Explanations and appeals
It is recommended to request an explanation of your grade before you decide to appeal.
The deadline to request an explanation is one week after the grade is published. For oral and practical examinations, the deadline is immediately after you have received your grade.
The explanation should normally be given within two weeks after you have asked for it. The examiner decides whether the explanation is to be given in writing or verbally.
Resit an examination
If you are sick or have another valid reason for not attending the regular exam, we offer a postponed exam later in the same semester.
See also our information about resitting an exam.
Withdrawal from an examination
It is possible to take the exam up to 3 times. If you withdraw from the exam after the deadline or during the exam, this will be counted as an examination attempt.
Special examination arrangements
Application form, deadline and requirements for special examination arrangements.
The course is subject to continuous evaluation. At regular intervals we also ask students to participate in a more comprehensive evaluation.