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Labour Markets in Macroeconomics (ECO-AD-LABMAR) • European University Institute
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Labour Markets in Macroeconomics (ECO-AD-LABMAR)

ECO-AD-LABMAR


Department ECO
Course category ECO Advanced courses
Course type Course
Academic year 2023-2024
Term BLOCK 4
Credits .5 (EUI Economics Department)
Professors
  • Prof. Cristina Martinez Lafuente (University of Bath)
Contact Simonsen, Sarah
Sessions

05/04/2024 11:00-13:00 @ Seminar Room B, Villa la Fonte

12/04/2024 9:00-11:00 @ Seminar Room B, Villa la Fonte

17/04/2024 13:30-15:30 @ Seminar Room B, Villa la Fonte

19/04/2024 15:00-17:00 @ Seminar Room B, Villa la Fonte

03/05/2024 15:30-17:30 @ Seminar Room B, Villa la Fonte

10/05/2024 15:30-17:30 @ Seminar Room B, Villa la Fonte

Purpose

This course explores the role that labour market modelling and measurement plays in modern macroeconomics.

By the end of the course, students should be able to:
  • Follow a seminar on a macro-labour topic
  • Know where to go if they need to incorporate some tools and ideas from the macro-labour (or search) literature
  • Know where to start if they want to pursue a research topic in this area
  • Critically assess macroeconomic research papers from a labour perspective
  • Have their faith in macroeconomics restored

Description

Content of the course

  • Giving an overview of the key models, facts and puzzles in macro-labour
  • A deep dive into the core assumptions and mechanisms underpinning modern labour market models and how they relate to the empirical literature
  • Critically discussing important contributions to the literature
Search and matching models would be dominant but not the only kind of model we explore – the course aims to understand the core strengths that make them popular, as well as the shortcomings that make them an open area of research. Also, it would not be a purely theoretical course: by the nature of the subject, we will go back and forth between theory and empirics.

Assessment

a 20-minute presentation of a paper of your choice from a list that will be provided in week 5. This presentation should:
  • Condense the key mechanism and results of the model in a way that makes sense for people outside the literature
  • Situate the paper in the literature and discuss its contribution
You would be expected to read a paper a week (maximum 2) and contribute to class discussions. These contributions will count 40% of the final mark, presentation 60%.

Topics
  1. Unemployment in Macroeconomics: an overview.
  2. Principles of search and matching models.
  3. Labour market flows and aggregate fluctuations.
  4. Frontiers of Unemployment: the very long and the very short.
  5. Wage dispersion: productivity vs. rents.
Class structure

We will discuss the paper(s) of the week, followed by a presentation of the main points of the lecture notes. The lecture notes provide a thread that links all the papers in the reading list and the topics.

Is this course for me?

If you:
  • Want to work on macro-labour topics;
  • Want to work with general equilibrium macro models (DSGE, NK, HA);
  • Want to work on empirical/applied labour topics;
  • Low-key think all macro is BS (Bad Science),
then you will find this course useful.
 

Register for this course

Page last updated on 05 September 2023