Article takes a look at the history of the Labor Movement and labor unions through videos, pictures, speeches and more.
By the end of this section, you will be able to interpret a circular flow diagram, explain the importance of economic theories and models, and describe goods and services markets and labor markets.
An introductory course in labor economics from MIT. Emphasizes applied microeconomics and empirical analysis. Includes suggested readings, assignments, and exams.
Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters. Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition. The first edition of Principles of Macroeconomics by OpenStax is available in web view here.
By the end of this section, you will be able to:
Predict shifts in the demand and supply curves of the labor market
Explain the impact of new technology on the demand and supply curves of the labor market
Explain price floors in the labor market such as minimum wage or a living wage
By the end of this section, you will be able to:
Analyze cyclical unemployment
Explain the relationship between sticky wages and employment using various economic arguments
Apply supply and demand models to unemployment and wages
By the end of this section, you will be able to:
Interpret a circular flow diagram
Explain the importance of economic theories and models
Describe goods and services markets and labor markets
Video clip [0:39] from Season 5 of Seinfeld in which Jerry explains with humor and wit that in the labor market there is someone who will fill every job.
