ECON 349
The Economics of Labor Market Institutions Spring 2025
Division II

This course offers an introduction to the economics of modern labor markets. On the one hand, the course offers analytical tools to assess the efficiency of the labor market. On the other hand, the course gives an overview of “real-world” economics by showing differences in labor markets between countries. In some countries there are strict rules about the hiring and firing of workers. In some countries unions are well organized and influential, in others union membership is low. Some countries have high minimum wages, others have no minimum wage at all. Not only do institutions differ by country, the labor market outcomes in terms of unemployment, participation, job creation, wage distribution differ as well. We will study the empirical evidence, economic models, and policy issues germane to labor markets from an international perspective.