In this course, students will study how labor markets function with the goal of understanding the determinants of important labor market outcomes such as earnings, hours of work, and labor force participation. Throughout the semester, the focus will be on exploring the effects of institutions and government policies that shape the labor market and its outcomes. Peer-reviewed academic studies that gauge the effects of minimum wages, unemployment benefits, unions, and immigration will be discussed and critiqued. The specific goals of this course are to: ¿ Learn the economic approach to describing and analyzing labor market outcomes. ¿ Explore the effects of institutions and government policies that shape labor markets. ¿ Understand the quasi-experimental approach to doing applied research in labor economics. Students will be expected to read and (with the help of their professor) interpret original research in applied labor economics. At the end of the semester, student will critique a published study on an applied labor topic. A solid knowledge of basic calculus, microeconomic theory, and undergraduate-level econometrics is required.

K1: Understand democratic principles and values, as well as the Sustainable Development Goals, with special emphasis on respect for human rights and fundamental freedoms, gender equality, non-discrimination, universal accessibility principles, and the fight against climate change. K3: Acquire knowledge of the theories and techniques specific to Economics, employing appropriate terminology and the scientific method. K4: To understand the functioning of the economy as the efficient allocation of scarce resources, including the importance of equity. K5: Know quantitative and qualitative research techniques, and be able to discern which are the most appropriate to apply in the field of economics. K6: Comprehend the economic and social impact of various public policies on different agents and in diverse socioeconomic contexts. K7: Understand the economic variables that regulate the economy and govern the behaviour of agents. K8: Understanding economic institutions K9: Identify the economic, political, and social framework for the activities of various economic, political, or social agents. S1: To plan and organize team work making the right decisions based on available information and gathering data in digital environments. S2: Exploit information by interpreting relevant data, avoiding plagiarism, and adhering to academic and professional conventions within the field of study, with the ability to evaluate the reliability and quality of the information. S3: Apply the knowledge acquired in the degree program to rigorously, accurately, and scientifically identify socioeconomic processes and propose potential solutions. S4: Manage and develop autonomous learning within the field of Economics. S5: Formulate, debate, and defend critical and ethical arguments related to Economics. S6: Identify, collect, interpret and manage relevant information on economic issues, using the appropriate concepts and methodologies of analysis. S7: Design economic and social programs to address the needs of economic agents. S8: Formally representing economic decision-making processes S9: Derive relevant economic information from the data, and be able to process it to answer the questions of interest S10: Prepare advisory reports for economic agents relevant to decision-making. S11: Describe and analyze economic problems within a specific social context. S12: Model and quantitatively interpret specific economic issues C1: Develop interpersonal skills such as initiative, responsibility, conflict resolution, negotiation, etc., which are required in the professional domain. C2: Communicate effectively to different audiences knowledge, methodologies, ideas and solutions in the field of study. C3: Independently develop and defend a problem within the disciplinary scope of the degree, proposing well-founded solutions through the application of the knowledge, skills, tools, and strategies acquired or developed throughout the degree program. C4: Solve economic models of interest from both theoretical and numerical perspectives. C5: Use appropriate statistical and econometric tools to address and solve economic problems. C6: Integrate democratic principles and values, as well as the Sustainable Development Goals, into the professional sphere.

Part I. Introduction 1. Basic definitions of labor market outcomes. 2. How does the labor market work? 3. What is special about the labor market? Part II. Labor demand and supply 1. Labor supply 2. Labor demand 3. Competitive equilibrium 4. Compensating wage differentials, efficiency wages, and internal labor markets Part III. Institutions, government policies, and labor market outcomes 1. Unions 2. Minimum wages 3. Welfare Part IV. Human capital 1. Types of human capital 2. Measuring the effects of educational attainment and training on labor market outcomes 3. Human capital acquisition Part V. Immigration 1. How does immigration affect the labor market outcomes of native-born workers? 2. Immigration policy and its labor market effects. Part VI. Discrimination and inequality 1. The determinants and effects of labor market discrimination 2. Measuring inequality

- Each topic will be covered in a series of in-person lectures. The slides (in English) used in these lectures will be made available to the students in advance. The lectures will focus on basic market models and how applied economists go about testing the theoretical predictions produced by these models. - In addition to attending lectures, the students will work together to solve exercises and problems. Several peer- reviewed academic studies in applied labor will be discussed and critiqued. At the end of the semester, students will critique a published study on an applied labor topic.