Labour Markets

Basics of Labour Markets

• Demand for Labour
• Supply of Labour
• Wage Determination

• Marginal revenue product of labour

Labour market imperfections

Monopsony diagram

• Labour Market Imperfections
• Monopsony
• Trades unions
• Geographical immobiliities
• Discrimination in the labour market
• Government intervention in labour markets

Minimum wages

• Minimum wages
• Minimum Wages for 16-18 year olds
• Disadvantages of minimum wages
• Would an increase in the minimum wage reduce relative poverty?

Flexible Labour Markets

• Flexible Labour Markets
• Advantages and disadvantages of Flexible Labour Markets
• Increasing labour market flexibility
• Zero hour contracts

Immigration

• Impact of immigration
• Lump of labour fallacy and immigration
• Free movement of labour – advantages
• Free movement of labour – disadvantages

Taxes

• Effect of tax cuts
• Laffer Curve
• Horizontal and vertical equity

Changes in labour markets

• Changes UK Labour Markets
• Participation Rate
• Impact of an ageing Population
• Latest blogs on labour markets

Productivity

• UK Labour productivity

Wages

• Wages and competitiveness
• Wages and unemployment
• Efficiency wage theory
• Wages of paper boys
• Wages of footballers
• Real wages in the UK

Unemployment

• Measuring unemployment
• Policies for reducing unemployment
• Causes of unemployment
• Costs of unemployment
• Reasons for youth unemployment
• How to deal with youth unemployment