Economics of Labour Markets and Human Capital
Full course description
What are the drivers behind the supply and demand developments in the labour market, and the interactions between supply and demand? Why do people and firms invest in schooling? What are the costs and benefits of formal education and training for workers and firms? What is the role of informal learning in human capital formation? How effective are High Performance Workplaces for firm productivity? What are the causes of human capital obsolescence? Why do older workers invest so little in training? All these questions are addressed in this course that aims to increase students’ understanding of:
- The determinants of human capital investments and labour supply.
- Skills allocation on the labour market.
- The effects of human capital investments and deterioration on workers’ wages and employability, as well as the performance of organizations.
- The effects of Human Resource management.
This will enable students to understand the costs and benefits of "make-or-buy" decisions on generic and specific human capital development from a firm’s perspective. Moreover, the course deals with the institutional context and public policies on life-long learning.
- Understanding of labour market developments and supply-demand interactions
- Understanding of potential effects of training on employees and the organisation
- Understanding of economics of education and training
- Understanding of the institutional context of education and training
- Understanding of the determinants of skills obsolescence and employees’ employability
- Skills in the analysis of the internal and external environment of organisations from an economic perspective
- Skills in of cost-benefit analysis on learning and development programmes
- Understanding of labour market developments and supply-demand interactions.
- Understanding of potential effects of training and HRM on employees and the Organisation.
- Understanding of the determinants of skills obsolescence.
- Skills in of cost-benefit analysis on learning and development programs.
Awareness of broader context
(International) communication skills
Interpersonal and team-working skills
Various research papers from international journals.