Spring 2017 Macro-Labor Macroeconomics Econ 4538
Macro-Labor Economics
Spring 2017 Economics 4538, University of Minnesota
Syllabus
Instructor: Kyle Herkenhoff
TA: Esteban Jait (jaitx001@[Link])
Lecture: 3-5pm Mondays and Wednesdays, Hanson 1-109
Office Hours: Monday 1:00 p.m. – 3:00 p.m. at 4-173 Hanson Hall
E-mail: kfh@[Link] (Econ 4538-Your name in the subject)
Website: [Link]
Course Description
The purpose of Econ 4538 is to provide hard-working students with all of the tools and economic
concepts necessary to understand frontier papers and debates in macro-labor economics. The course will
place equal weight on both theory and real-world applications, discussing the fundamental concepts and
ideas, and then applying those ideas to real-world situations. The course will cover topics including labor
supply and demand, mobility, inequality, and the relevant public policies that have been enacted which
touch upon these topics.
The TA for the course, Esteban Jait, will review weekly material and cover relevant practice questions for
the exams.
There will be a practice test before the midterm, and a practice test before the final.
Learning Outcomes
-- Develop an understanding of the foundations of modern labor economics.
-- Subject these various models to data and determine their empirical relevance.
-- Analyze modern economic issues with these models.
Prerequisites
I will assume that you are comfortable with micro concepts at the level of Econ 3101, 3102, such as the
utility maximization problem and its related topics. I will also assume that you are comfortable with basic
econometrics such as multivariate regression techniques as well as statistics at the level of Stat 3011.
With regards to your math background, I will take as granted that you know how to work with
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Spring 2017 Macro-Labor Macroeconomics Econ 4538
calculus (derivatives).
Class Website
Handouts and slides will be posted on the class website.
Course requirements
Exams (100%)
There will be one midterm exam (40%) and one final exam (60%). The final exam is cumulative, and
covers all the material in the course. According to University policy, you may request a make-up only if
you have:
Documentation of a family or medical emergency, another test scheduled at the same time, or three exams
within a 16-hour period.
If you have any of the last two complications, make sure you talk to me at least two weeks before the
exam.
Midterm Exam –March 8th, 3-5pm
Final Exam – 8:00-10:00 a.m., Wednesday, May 10, 2017
Re-grading
If you disagree with the grading of a test, you may submit it for review. You must have a written
argument for why you should be awarded more points. Also, you must submit these disputes within one
week of the exam being returned, or the grade is final. Assignments and exams written in pencil will not
be re-graded.
Class participation (up to +10%)
Given the course's format, I expect you to read the material in advance of every session. Active
participation is encouraged; my assessment of class participation will include:
-- Comments on real-world issues which are parallel to the course's material,
-- Relevant contributions to class discussion, and
-- Participation in in-class activities.
I will keep a list of those who ask relevant questions, and assess participation based on the degree of
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Spring 2017 Macro-Labor Macroeconomics Econ 4538
involvement of the student.
Required Textbook
The book we will be using is Modern Labor Economics: Theory and Public Policy 12th Edition
by Ronald G. Ehrenberg and Robert S. Smith. This textbook is required and should be available at
Coffman Union or online bookstores.
Topics
Week of
16-Jan Intro to Class/Chapter 1
23-Jan Chapter 2 and Labor Supply and Regression refresher
Appendix 1A
30-Jan Chapter 3 Labor Demand
6-Feb Chapter 4 Elasticities
13-Feb Chapter 5 Frictions [Flexible Week]
20-Feb Chapter 6 Decision to work [Flexible Week]
27-Feb Chapter 7 Labor Supply: Household Production, Family, Life
Cycle
6-Mar Chapter 8, Review, Compensating wage differentials
and MIDTERM
13-Mar Spring Break
20-Mar Chapter 9 Investments in Human Capital
27-Mar Chapter 10 Worker Mobility
3-Apr Chapter 11 Pay and Productivity
10-Apr Chapter 12 Gender Race Ethnicity
17-Apr Chapter 13 Unions and the Labor Market [Flexible Week]
24-Apr Chapter 14 Unemployment
1-May Chapter 15 Inequality and Review
10-May FINAL
Disabilities
Students with disabilities must be registered with Disability Services. Please contact Disability Services at
[Link] Following their guidelines, the Department of Economics and Disability Services will
make appropriate accommodations for students with disabilities. Please contact the instructor as soon as
possible if you need special accommodations.
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Spring 2017 Macro-Labor Macroeconomics Econ 4538
Academic Dishonesty
For exams, any kind of cheating will not be tolerated. For more information, see
[Link] [Link].
Grades
The final grade of the course will be a weighted average among participation, the midterm, and the final
exam. This weighted average will be calculated the following way:
-- Participation up to +10%
-- Midterm 40%
-- Final Exam 60%
Total 100% (up to 110% with participation)
