UCL Department of Economics


ECON7001 - Economics of Labour

This module is available in Term 1



The course provides a survey of theoretical and empirical aspects of modern labour economics. After providing some basic information about characteristics and trends in actual labour markets (concentrating on the UK, but providing international comparisons) the course analyses in some detail the supply side and the demand side of the labour market. These building blocks enable further analysis of special topics such relative wages, human capital, labour market discrimination and unemployment. The course provides applications, in the context of labour markets, of analytical concepts and empirical techniques taught in the core courses of the BSc Economics degree (and joint degrees).


After completing the module students should be able to:

  • Describe some of the main characteristics of, and recent developments in, labour markets of OECD-type economies
  • Apply basic optimisation techniques to solve stylised problems relating to labour markets
  • Critically evaluate empirical findings relating to major research areas such as labour supply, employers’ adjustments to changing demand, returns to education, unemployment, etc.
Taught by:
Donald Verry
Assessment: There are 10 2-hour lectures. Each student also has 4 compulsory tutorial classes, run as structured discussions, and is required to submit 2 essays. Assessment is by final unseen 2-hour examination in Term 3. Affiliate students leaving in December will take a 2-hour written examination set up by the Department at the end of Term 1.
Suitable for:
2nd / 3rd year Economics (L100), 3rd year Econ/Stats (LG13) and Phil/Econ (VL51) students.
Prerequisites: ECON1001: Economics and ECON 1002: Applied Economics (or equivalents).
Maximum module enrolments: 100
Module Evaluation (Previous year): ECON7001
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