Labor Economics Syllabus -Tobing

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ZUS PACIFICU N I V R S I T Y

SCHOOL OF BUSINESS ND M N GEMENT

INSTRUCTOR INFORMATION:

Elwin Tobing, Ph.D.

ECON 356 Labor EconomicsDr. Tobing

Fall 2014 M 4:20PM-7:20PM)3 units

Office Hours: Mondays, Wednesdays, Fridays: 10:30AM - :30 AM

Office loc ation: Wilden Hall, Room 2 38

Email: [email protected]: Extension x 3824; Fax 626) 815-3802; Emergency phone number 714) 924 - 0829 No callsbetween 1 OPM - 7 AM)

APU MISSION AND PURPOSE STATEMENT:

Azusa Pacific University is an evangelical Christian community of disciples and scholars who seek to

advance the work of God n the world through academic excellence n liberal arts and professionalprograms of higher education that encourage students to develop a Christian perspective of truth andlife.

SBM MISSION AND PURPOSE STATEMENT:

School of Business and Management faculty, staff, and students passionately pursue academic

excellence and spiritual enrichment to advance the work of God n business and society around theworld.

AACSB ASSURANCE OF LEARNING GOALS AND OBJECTIVES:

Competent Business KnowledgeStudents will be able to demonstrate knowledge n multiple business disciplines, includingmanagement, finance, marketing, accounting and economics.Critical Thinking AbilityStudents will be able to identify and solve business problems using analytical and critical thinkingskills.Christian Business EthicsStudents will be able to demonstrate the ability to evaluate business decisions based on a

Christian perspective.Capable Communication SkillsStudents will be able to convey ideas clearly through professional written communication.Students will be able to express ideas effectively through professional oral presentations.Collaborative Teamwork AbilityStudents will be able to demonstrate the ability to function as an effective business team member.Comprehensive Global AwarenessStudents will be able to identify cultural, economic and political aspects of business n a globalenvironment.

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COURSE INFORMATION:Catalog: This course examines t h ~allocation of labor in a society among its various possible uses. We

consider the role of markets in a/locating this labor issues of market power and the role of governmentpolicy in accomplishing social objectives. Wage determination job search nd labor productivity are alsodiscussed. Prerequisites ECON 25· Principles of Microeconomics . Familiarity with college-level algebrais important as we will use algebraic and graphical analysis extensively. Those who are struggling withbasic algebra should utilize my office hours.

COURSE CREDIT DESCRIPTION: RECWIRED)

Following the APU Credit Hour policy to meet the identified student learning outcomes of this coursethe expectations are that this 3-unit course delivered over a 15-week term will approximate:

_g_ hours I week classroom or d irect faculty instruction_ _ hours I week internship__Qd_ hours I week online work__Qd_ hours I week research_ _ hours I week other academic: work

In addition out-of-class student work will approximate a minimum of 6 hours each week.

STUDENT LEARNING OUTCOMES:

By the end of this course students should be able to demonstrate mastery of the following learning outcomes.he classroom assignments that the instructor will use to assess mastery are identified in the table.

STUDENT LEARNING OUTCOME AACSB LEARNING ASSIGNMENTS USEDGOAL TO ASSESS

Clearly discuss the role of values in labor marketChristian Business Faith Integration

activity and articulate an understanding of a set ofEthics/Ethical Assignments

core Christian values that impact labor marketeconomic decision Class

outcomes. making Discussion/Participation

Understand fundamental principles and theories about Competent Businessthe allocations of labor in a society th e relationship Economic Knowledge Exam Homeworks andbetween wages and both the supply of and the Writing Assignmentsdemand for labor.

Understand how to identify and discuss the variousfactors that affect labor efficiency and productivity Critical Thinking Exam Homeworks andincluding the role of relative market power among

Ability Writing Assignmentsemployers employees and labor unions in thedetermination of wages and labor costs.

Apply course material to improve thinking problem Critical Thinking Exams Homeworkssolving and decisions related to labor allocation Ability Capable and Writingissues of market power and the role of government Communication Skills Assignmentspolicy in accomplishing social objectives.

Apply their understanding of labor markets to current Comprehensive Exams HomeworksNational and Global and Writingconditions in the domestic and global economies . Awareness Assignments

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REQUIRED TEXTBOOK AND STUDY RESOURCES:

Required Text:Labor Economics (6th edition) by George Borjas. McGraw-Hill Irwin, 2010.

Recommended but not required) Text:Modern Labor Economics: Theory and Public Policy (10th Edition) by Ronald G. Ehrenberg and Robert S.Smith. Addison-Wesley. (Last topic on Globalization and labor market will be taken from Chapter 16 of thisbook)

Copyright Responsibilities:

Students and faculty are both authors and users of copyr ighted materials. s a student you must know therights of both authors and users with resp€ ct to copyrighted works to ensure compliance. It is equallyimportant to be knowledgeable about legally permitted uses of copyrighted materials. Information aboutcopyright compliance, fair use and websites for downloading information legally can be found athttp://apu.libguides.com/content.php?pid=241554 search _ terms =copyright

COURSE CALENDAR/SCHEDULE:Course Outline

ASSIGNMENTS

9 8 Ch. 2 Labor Supply

9 15 Ch. 2 Labor Supply

9 22 Ch. 3 Labor Demand HW 1 due 9/22

9 29 Ch. 3 Labor Demand HW 2 due 10/1

10 6 Ch. 4 Labor Market Equilibrium Midterm Exam 1, 10/6 (Chs 2 and 3)

10 13 Ch. 4 Labor Market Equilibrium

10 20 Ch. 5 Compensating Wage Differential

10 27 Ch. 6 Human Capital HW 3 due, 10/2711 3 Ch. 7 The Wage Structure Midterm Exam 2, 11/3 (Chs 4, 5, and 6)

11 10 Ch. 8 Labor Mobility

11 17 Ch. 1 o Labor Unions

11 24 Ch. 11 Incentive Pay HW #4 due 11/24

12 1 Globalization and the labor market Paper is due.

12/8 Final Exam 9: 5 to : 5 a m

This syllabus may be revised during the semester by the professor as needed, including dates for exams. ny

revisions to the syllabus will be announced in c lass.

ASSIGNMENTS:

1. Homework Assignments

All homework assignment questions are taken from the textbook's review questions and problems at the endof each chapter.

HW 1 due 9/22 in class:Review questions 5, 8,




Problems 2-6, 2-10, 2-14

HW 2 due 10/1 in class:Review questions 4, 12Probl e m s 3-4, 3-7, 3-12

HW 3 due 10/27 in class:Chapter 4: Problems 4-2, 4-3, 4- IO

Chapter 5: Problems 5-3, 5-1 O

HW 4 , due 11 /24 in class:Ch ap te r 7: Problems 7-2 , 7-6Chapter 8: Problems 8-7, 8-10Ch apte r 10: Problems 10-3, 10-8

2 Writing Assignment-Individ ual paperI

ObjectiveTo assess how well studen ts can understand the basic theories of labor economics and apply their acquiredknowledge on the subjects discussed in c lass to real labor economic problems.

Format and GradingThe paper is about 2,000 words written in one-and-half-spaced form (excluding tab les, data r graphs).Grading is based on the organization, analytical and informational content as well as the clarity of the paper.The paper carries 20 percent of your fina l grade, plus 5 percen t for presentation .

Subject:Select and analyze one topic in re lation to the various topics discussed in class: i. e. the demand for labor,labor market elasticities, labor supply, investment in human capital, un ions and the labor market, inequali ty in

earnings between high-skilled and low-skilled workers, demography and wage inequality, youth unemploymentduring rec ession, the effects of globalization on US labor market, and etc.

Suggested StepsThe first step: Co llect information (articles) and relevant economic data related to the topic of your interest. I

suggest that you choose at least two artic les for main references . These articles could be publications in theWall Street Journ al, the Economist, Journal of Economic Perspective, and etc .

The second step: Read and understand thoroughly the issues related to the topic you selected.

The third step: Discuss the thesis/hypothesis/problems discussed in your main references and then elabo rateyour discussion with the knowledge you have acquired from the course.

Graphs and tables are welcome to support your analysis (but put them in appendix) . The paper should besubmitted both as a hard copy in class and electronically via email.

DeadlinePaper due on D ecember 1 in class.

INFORMATION LITERACY AND USE OF THE LIBRARY: REQUIRED)

Information literacy is defined as a set of abilities requiring individuals to recognize when information isneeded nd have the ability to locate, evaluate, nd use effectively the needed information (American LibraryAssociation, 1989). In this course, teaching nd learning processes will employ the following informationliteracy standards, as endorsed by the American Association for Higher Education (1999), the Association ofCollege nd Research Libraries (2000), nd the Council of Independent Colleges (2004).

The students in this course will:

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••

determine the nature and extent of the information neededaccess needed information effectively nd eff iciently.

• evaluate information nd its sources critically nd incorporates selected information into his or

her knowledge base nd value system.• individually or as a member of a group use information effectively t accomplish a specific

purpose .• understand many of the economic legal and social issues surrounding the use of information

nd accesses and uses information ethically nd legally.

This course requires students t complete course assignments using resources available from the UniversityLibraries. Research assistance nd subject guides for this course are available t http://apu.libguides.com/

GRADE DETERMINATION

There will be two (2) midterm exams in this course that will gauge your level of understanding of the materials.In addition, you need to complete four (4) homework assignments, (almost) weekly report, one finalcomprehensive exam (questions will be skewed toward the last materials covered after the second midtermexam), and one term paper

Factors contributing t final gradeTwo (2) midterm examFour homework assignments (eac h 5 )One term-paper(Almost) weekly report class participationFinal ExamTotal

30

17.5

12.5

15

25

100

Grading Scale PLUS/MINUS grading will be applied in this class

1 0 0 - 9 3 = A 8 9 - 8 7 = B 7 9 - 7 7 = C+ 6 9 - 6 7 = D9 2 - 9 0 =A 8 6 83 = B 7 6 - 7 3 = c 66 - 63 = D

8 2 - 8 0 = B- 72 - 70 = C- 6 60 = D-

Grading Criteria for Assignments and Final Grade

GRADE CRITERIA

5 9 0 = F

A Superior knowledge r e g a r d i n ~details, assumptions, implications, history; superior thinking withinformation relevant to application, critique, and relationship to other information.

BMore than adequate knowled9e regarding technical terms, distinctions, and possesses an ability touse information.

Basic knowledge needed to function and carry on learning regarding major principles, centralterms, major figures, also possesses an awareness of field or discipline.

D Serious gaps in knowledge, confusion of concepts and categories, inability to recall bas icinformation.

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F Absence of knowledge, incapable of carrying on a conversation about the subject, misunderstandmost concepts , confuses all categories

COURSE POLICIES

Classroom EnvironmentAnnoying and disruptive behav iors such as arriving late, leaving early, engaging neighbors in

conversation, leaving and reentering the class could distract students around you and the professor.Please do avoid them. The use of electronic communication devices such s cell phones, IPod, andpagers is prohibited during the class. Students caugh t texting in class w ill be given zero in one of theexams.

Participation and AttendanceClass attendance is expected and will be taken. You should not miss any classes. If you must miss aclass, please inform me beforehand or as soon afterward as possible. Students who arrive after classhas begun or depart before class is over will be counted as absent. Points will be deducted from astudent s final score for absences (excused or unexcused) according to the following schedule:

0 to 2 = O 3 or more = 20 points each.

Missing ExamsNo makeup exams will be given without a typewritten and signed petition fully explaining anddocumenting why the exam was missed. The petition must be submitted prior to the writing of theexam in question. If the absence is due to illness, proper documentation from a medical doctor will berequired which must be handed in to the professor no later than 5 business days after the date of theexam otherwise it will not be accepted.

Honor CodeAll university and departmental policies affecting student work, appeals, and grievances, s outlined inthe Undergraduate Catalog and/or Department Handbook will apply, unless otherwise indicated in thissyllabus.

Academic Integrity

The mission of Azusa Pacific University includes cultivating in each student not only the academic skills thatare required for a university degree, but also the characteristics of academic integrity that are integral to asound Christian education. It is therefore part of the mission of the university to nurture in each student asense of moral responsibility consistent with the biblical teachings of honesty and accountability. Furthermore,a breach of academic integrity is viewed not merely as a private matter between the student and an instructorbut rather as an act which is fundamentally inconsistent with the purpose and mission of the entire university.A complete copy of the Academic Integrity Policy is ava ilable in the Office of Student Life, the Office of theVice Provost for Undergraduate Programs, and online.

Expectations for this course regarding academic integrity in this class

o Expectations are consistent with those outlined in the academic integrity policy

Consequences for violations of academic integrity in this class

o Consequences are consistent with those outlined in the academic integrity policyo ny type of plagiarism will result in an F in the class a more stringent consequence

than that suggested in the policy)

University or Department Policies




ll university and departmental policies affecting student work, appeals, and grievances, as outlined in theUndergraduate Catalog and/or Department Handbook will apply, unless otherwise indicated n this syllabus .

S uppo t Services

Students n this course who have a disability that might prevent them from fully demonstrating their abilitiesshould contact an advisor n the Learning Enrichment Center ext. 3849) as soon as possible to initiatedisability verification and discuss accommodations that may be necessary to ensure full participation n thesuccessful completion of course requiremimts.

F ITH INTEGR TION TOPICS

Week 1 & 2 Biblical perspective on Inquiry into economic and business research.

Week 3 & 4 Biblical perspective on employment

Week 5 & 6 Biblical perspective on productivity.

Week 7 & 8 Biblical perspective on profit.

Week 9 & 10 Biblical perspective on wage.

Week & 12 Biblical perspective on Biblical perspective on collective bargaining.

Week 13 & 14 Biblical perspective on being a Christian in business and economics today.




ACKNOWLEDGEMENT OF RECEIPT BY STUDENT

Faculty may want to include a separate page for students to sign acknowledging receipt and comprehensionof the syllabus.

I have received a copy of the syllabus for ECON 350 Intermediate Macroeconomics I have read the syllabusnd have been ottered an opportunity to sk questions about it I understand nd agree to the requirements of

this syllabus

Signature: _ _ Date:


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Labor Economics Syllabus -Tobing