The purpose of the course is to provide empirical and theoretical tools to understand the operation of modern labor markets. The course begins by introducing static models of allocation of time among work,leisure and home production. A quick sketch of job search models is also presented. The focus shifts, next, on labor demand and on the trade-offs between capital and labor and hours and workers. Finally, labor market equilibrium will be characterized and its interactions with developments in the product market assessed.
The second part of the course is devoted on the analysis of the ways in which labor market institutions affect wage and employment determination.