F583 - Economics of Work and Leisure - June 2014

Participation ratio, Female participation ratio etc..



Sorry I never replied in time, but what the other person said. Its useful to discuss in monopoly/oligopoly questions for evaluation purposes... I've never seen it come up in a past paper though.

Anyone up for another Skype session today? I know its late but still lol.

Thank you . but for the question like "Discuss the extent to which government intervention can reduce labour market failure caused by the immobility of labour", do you give 3 different examples of intervention and evaluate each of them?

That would actually be really helpful i'm actually finding this unit harder than the last

Lol I'm quite the opposite, F585 had so much more content!

Nonetheless, if you're up tonight do you want to Skype? Preferably go over Contestability (for leisure markets) and then go over pretty much all of Labour Markets; hitting key areas such as "Factors influencing demand/PED for Labour and then supply/PES for Labour"

Message me (or anyone else) if you're up for it! #allnightermethinks

Could anybody be incredibly helpful by listing all the diagrams we need to know for this exam. Also for the backward slopping supply curve I've see amount of labour surely it should be hours worked as it's showing the income/ substitution effect between wage and hours worked i.e at a higher wage rate workers can achieve a target income by working less hours thus the income effect starts to dominate could someone verify the above for me I'd be extremely greatful

Yes, you are correct about the income and substitution effect.

Diagrams to my opinion might include: monopolistic SR & LR, monopoly, oligopoly, supply and demand forlabour, backward bending curve, monopsony, NMW.

That's all I can think of

Think about it. You're analysing how non-PECUNIARY benefits will affect the supply of labour. So you're mentioning how better working conditions etc may attract a larger supply of labour. In your evaluation you should be talking about factor(s) which may impact on this and provide reasoning for why a non-PECUNIARY factor may not affect the supply of labour as much as originally expected. What other determinants play a role for workers in deciding whether to supply their labour to an occupation? I've already given you the clue

Can anyone explain bargaining to me? there is just a small paragraph in the textbook and here is a question relating to it
"Analyse the impact of 2 forms of bargaining on the operation of the labour market."