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Institute of Labour Economics
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Foto: Christian Wyrwa
Institute of Labour Economics
Most of us have to make a living. We have to decide how much time to spend on education, how hard and long to work in our jobs, how to split our time between private and professional life, whether we aim to get married and have children. As citizens and workers, we also establish views on immigration, tax-financed labour market policies, crime and potential discrimination of women or minority groups. As students who will soon be on the job market, you may also wonder what you can expect from a firm in your career and what the firm will expect from you. All these issues are within the academic field of labour economics. Personnel economics deals with the employer-employee relationship and may be viewed as a subfield of labour economics or a field of its own (the latter mainly for historical reasons, as human resources management or personnel economics originated in business administration rather than economics departments).
Labour economics has become a field much wider than pure analysis of wages and unemployment. Indeed, the field reaches out to all topics related to the economic productivity of persons, which includes formation of families, educational outcomes and technological developments.
In order to gain an understanding of these issues, both knowledge of microeconomic theory and econometric or data analytic methods is necessary. Labour economics is one of the most empirical fields in economics and many innovations in econometrics have been driven by attempts to answer labour-related questions.
Institute of Labour Economics
Most of us have to make a living. We have to decide how much time to spend on education, how hard and long to work in our jobs, how to split our time between private and professional life, whether we aim to get married and have children. As citizens and workers, we also establish views on immigration, tax-financed labour market policies, crime and potential discrimination of women or minority groups. As students who will soon be on the job market, you may also wonder what you can expect from a firm in your career and what the firm will expect from you. All these issues are within the academic field of labour economics. Personnel economics deals with the employer-employee relationship and may be viewed as a subfield of labour economics or a field of its own (the latter mainly for historical reasons, as human resources management or personnel economics originated in business administration rather than economics departments).
Labour economics has become a field much wider than pure analysis of wages and unemployment. Indeed, the field reaches out to all topics related to the economic productivity of persons, which includes formation of families, educational outcomes and technological developments.
In order to gain an understanding of these issues, both knowledge of microeconomic theory and econometric or data analytic methods is necessary. Labour economics is one of the most empirical fields in economics and many innovations in econometrics have been driven by attempts to answer labour-related questions.
Last Change: 05.09.22
