114-9513/01 – Economics of Labour Market (ETP)
| Gurantor department | Department of Economics | Credits | 10 |
| Subject guarantor | prof. Ing. Jaromír Gottvald, CSc. | Subject version guarantor | prof. Ing. Jaromír Gottvald, CSc. |
| Study level | postgraduate | Requirement | Choice-compulsory type B |
| Year | | Semester | winter + summer |
| | Study language | English |
| Year of introduction | 2020/2021 | Year of cancellation | |
| Intended for the faculties | EKF | Intended for study types | Doctoral |
Subject aims expressed by acquired skills and competences
Learning outcomes of the course unit The aim of the course is to deepen the knowledge of the issue of unemployment, factors that affect equilibrium unemployment and show why it is changing. The course tries to explain the relationship of unemployment to other important economic phenomena such as minimum wage, real wage, equilibrium in the economy, labor market flexibility, institutional environment and employment policy.
Teaching methods
Individual consultations
Summary
Compulsory literature:
Recommended literature:
Additional study materials
Way of continuous check of knowledge in the course of semester
E-learning
Other requirements
There are not any other requirements.
Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
1. Theory of unemployment. Neoclassical theory of unemployment. The concept of involuntary unemployment. Phillips curve. Monetarism and unemployment, natural unemployment rate. Rational expectations hypothesis and labor market. Supply side economics: incentives to work. Austrian economics. New Keynesian Macroeconomics.
2. Theory of human capital. Economic way of looking at behavior - human capital. Signaling theory. Educational Society and Labor Market. Education and wage differences, return on education.
3. Competitive market equilibrium and wage differences, Hedonistic wage theory. Wage Determinants. Factors Influencing Cash Reward. Multifactor model of earnings determination.
4. Theory of migration and labor market. Migration Determinants; the efficiency and integration of foreigners; economic impacts of migration, labor market mobility.
5. Flexibility of labor market and its balance. Supply-side flexibility. Demand flexibility.
6. Theory of job search and employability in the labor market. Employability concept. Job Search Models. Ways of finding a job. Length of unemployment, flows on the labor market, determinants of unemployment.
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction