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Introduction - Why labour economics should be distinguished from general economics; economic and non-economic social dimensions of labour markets.
Labour supply - basic concepts and methods of empirical analysis.
Labour demand; wages and employment. Fluctuations and trends in the labour market.
Employment, inactivity, and unemployment and its various types.
Equilibrium unemployment; the Beveridge curve; NAIRU and the expectations-augmented Phillips curve.
Job search model.
Wage rigidities based model.
Contract theory.
Collective bargaining theory.
Incomplete contracts and efficiency wages.
The insider-outsider effect vs. unemployment; hysteresis on the labour market.
Reallocation of the labour force and labour market flows.
Unemployment and macroeconomic shocks.
Labour market policies: active labour market policy (ALMP), passive labour market policy (PLMP).
Labour market institutions: tax wedge, transfers, minimum wage, employment protection legislation, trade unions.
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