Labor Economics [CRN 77142]

Discipline: Economics
Instructor: Jacoby
Credits: 3
Day: B
Start: 1040
End: 120
Field Work: Day 1 - Tuesday, 1 November | Brazil
Prerequisites: One (1) intermediate or introductory economics course Download Syllabus

Labor economics uses market theory and analysis to explain differences in wages, employment and labor institutions such as unions, professions, and households. Modern economics also provides critical tools to assess how globalization affects labor standards around the world. We develop a general equilibrium model to anticipate the impact of cross border flows in goods, people, capital and currencies upon the opportunities available to workers within different nations, after which we will use the opportunities afforded by our voyage to compare labor market performance across countries.  We’ll be interested in how various national policies involving trade, labor law, education (human capital) and immigration influence local labor markets.  Regional case studies may include the flow of immigrants from the Syria and North Africa to Europe, practices involving child and/or bonded labor, the accomplishments and challenges of European and Latin American unions, impacts of the Greek financial crisis on European labor (especially Spain and Italy), brain drain or brain mobility from the economic south, markets for baseball players in Cuba, the impact of free-trade and exchange rate volatility upon Latin American labor markets, and the workings of socialist labor arrangements in Cuba.

Field Work

Country: Brazil
Day: 1 - Tuesday, 1 November

Ford Motor Company has located a major plant in Bahia Brazil. While visiting the port, we’ll talk with union and plant officials to learn more about labor relations in this major developing country. Learning objectives: 1. To observe a modern large manufacturing facility 2. To discuss Brazilian Labor Relations 3. To understand Brazilian Labor Law