To be advised. 316-201 Intermediate Macro-economics and 316-202 Intermediate Micro-economics. Second semester Two 1-hour lectures and a 1-hour tutorial a week. On completion of this subject students should be able to:

• describe the distinctive aspects of the economic approach to the study of labour markets;
• describe the main institutional features and key developments in labour markets in Australia;
• judge the usefulness and the limitations of existing theory for understanding labour markets;
• appreciate the manner in which economic theory can be applied to understand behaviour in labour markets and to assist in evaluating contemporary policy debates;
• extend their knowledge of labour economics through independent study of theory and policy issues in this area.

Topics related to work and pay; how labour markets function. Topics include labour supply, labour demand, wage determination, trade unions, unemployment and analysis of current policy issues. Wherever possible examples and empirical studies from Australia will be used to illustrate theoretical work. A 2-hour examination (80 per cent) plus class assignments totalling approximately 2,000 words (20 per cent). Norris K The Economics of Australian Labour Markets 3rd edn. Longman Cheshire