Content of Learning Activity

The proposed teaching is an in-depth economics course designed to complement the courses in Political Economy (parts 1 and 2, BA1, Benoît Mahy), Economics (BA2, Guillaume Vermeylen), and Labor Economics (BA3, Benoît Mahy). More specifically, this course covers micro- and macro-economic analysis of the imperfectly competitive labor market, with a focus on economic regulation, social inequalities (assessed in particular from the standpoints of access to employment, over-education/qualification, occupational/sectoral segregation and remuneration) and value creation (apprehended in particular from the standpoint of productivity and cost-competitiveness of firms). The themes analysed notably include: a) taxation on labour and employment, b) the unemployment benefit system, c) the minimum wage, d) anti-discrimination legislation, e) trade unions and collective bargaining, and - by way of conclusion - the consequences of wage compression (notably induced by regulation) on the employability of the working-age population and the cost-competitiveness of companies. After providing an overview of the main facts to be explained and the societal issues at stake, for each part of the course, the main underlying theoretical models, the methods (notably statistical and econometric) used to test the relevance of these models and the empirical results obtained to date (both for industrialized countries and in the Belgian context) are presented. Throughout the course, particular attention is paid to 'at-risk groups' on the labor market, and in particular to the low-skilled, the young, the elderly, women and immigrants.

The theoretical presentation described above is supplemented by work carried out and presented by the students. Students are asked to tackle a subject directly related to the course, in order to deepen their understanding of the subject. To this end, they read a scientific reference article and carry out additional bibliographical research, with a view to writing a paper addressing the following questions: a) What is the research question? b) Why is this question important? a) What is the research question? b) Why is this question important? c) What are the underlying micro- and macro-economic mechanisms? d) What are the results obtained in the reference article? e) What is the methodology used? f) Do the results of the reference article corroborate those of other scientific articles? g) What conclusions can be drawn, particularly in the Belgian context? In addition to submitting a written paper, students must also present their work orally and discuss the work of other students. These presentations take place during the final class sessions.

Required Learning Resources/Tools

Course slides (and other materials) can be downloaded from the teacher's website: https://francois.rycx.web.ulb.be

Recommended Learning Resources/Tools

See above.

Other Recommended Reading

- Boeri, T. & van Ours, J. (2021), The Economics of Imperfect Labor Markets, Princeton University Press.
- Borjas, G. (2021), Labor Economics, McGraw-Hill.
- Brun, J.-P. & Mouray, D. (2019), Marché du travail, emploi, chômage, De Boeck Université.
- Cahuc, P., Carcillo, S. & Zylberberg, A. (2014), Labor Economics, MIT Press, Cambridge.
- Cahuc, P. & Zylberberg, A. (2001), Le marché du travail, De Boeck Université.
- Ehrenberg, R.G., Smith R. & Hallock, K. (2023), Modern Labor Economics, Theory and Public Policy, Routledge.
- Garibaldi, P. (2006), Personnel Economics in Imperfect Labour Markets, Oxford University Press.
- Gazier, B. & Petit, H. (2019), Economie du travail et de l’emploi, Edition La Découverte.
- Lesueur, J.-Y. & Sabatier, M. (2008), Microéconomie de l’emploi. Théories et applications, De Boeck Université.

Mode of delivery

• Face-to-face

Type of Teaching Activity/Activities

• Cours magistraux
• Travaux pratiques

Evaluations

The assessment methods of the Learning Activity (AA) are specified in the course description of the corresponding Educational Component (UE)