LSO540 - Labour Economics

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Last revision date Mar 16, 2020 8:51:03 AM
Last review date Mar 16, 2020 8:51:33 AM

Subject Title
Labour Economics

Subject Description
This course is designed to provide theoretical and analytical framework for understanding the structure and conduct of labour markets with particular reference to Canadian economy.  It draws on contemporary methods to model and analyze key aspects of labour supply and labour demand. It also reviews labour legislation, labour market data and important trends that affect organizational, individual and government decision-making. These aspects are combined to explore the determination of wages, alternative pay schemes and the implication of major policies such as minimum wage legislation, non-wage benefits, alternative income maintenance schemes and unionization on the labour market.  The acquired tools are applied to discuss current topics such as human capital investment, immigration, discrimination and unemployment.

Credit Status
One upper level Liberal Studies elective credit.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

  • Appraise the key features of Canadian labour market to evaluate inequality of income in Canada and around the world
  • Critically examine the income-leisure model of labour supply in order to predict the effects of changes in wages and non labour earnings on labour-force participation
  • Investigate the implications of government transfer programs on Canadian labour market
  • Discuss the short-run and long-run determinants of labour demand and labour supply
  • Distinguish between the short and long-run equilibrium of labour market
  • Identify the determinants of the elasticity of labour demand and supply to predict their effect on market equilibrium
  • Evaluate the cost and benefit of investment in education and training using Human-capital theory 
  • Critique the role of unions on labour market
  • Analyze the effects of immigration policy on Canadian labour market

Essential Employability Skills
Communicate clearly, concisely and correctly in the written, spoken and visual form that fulfils the purpose and meets the needs of the audience.

Respond to written, spoken, or visual messages in a manner that ensures effective communication.

Use a variety of thinking skills to anticipate and solve problems.

Locate, select, organize, and document information using appropriate technology and information systems.

Analyze, evaluate, and apply relevant information from a variety of sources.

Show respect for diverse opinions, values, belief systems, and contributions of others.

Interact with others in groups or teams in ways that contribute to effective working relationships and the achievement of goals.

Manage the use of time and other resources to complete projects.

Take responsibility for one's own actions, decisions, and consequences.

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

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Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.