Objectives and competences
In this course students:
1. Enhance their theoretical knowledge in the field of markets for factors of production and economic inequality and are able to apply it.
2. Gain the ability to apply their theoretical knowledge in practice in the field of labour market and economic inequality.
3. Acquire analytical approach for analysing the relationship among economic variables related to economic inequality.
4. Acquire advanced knowledge of basic theoretical approaches in understanding the economic consequences of individual decision making.
Content (Syllabus outline)
1. Introduction to the methodology of economic science
2. Markets for factors of production
3. Labour market: labour demand
4. Labour market: labour-leisure trade off (labour supply)
5. Labour market: inequality in earnings
6. Investment in human capital
7. Economic inequality
8. Measuring inequality
9. Concepts poverty and its measuring
10. Determinants of economic development
Learning and teaching methods
- lecturing;
- AV presentations;
- historical and actual case studies;
Intended learning outcomes - knowledge and understanding
Development of knowledge and understanding:
Students:
1. Acquire specific knowledge in the field of economic theory.
2. Have a detailed knowledge of theories in the field of markets for factors of production and economic inequality.
3. Learn to recognise economic interconnections among decision making of individuals, enterprises and economic policy makers.
4. Develop the skills to interpret the gained results of economic models.
5. Learn how to analyse and synthesise different approaches in the field of economic relations.
6. Are able to pursue further analysis regarding gathering, analysing and argumenting economic data.
7. Are qualified to control and supervise various economic events and overall economic situation.
Cognitive/Intellectual skills:
Students:
1. Understand and apply critical analysis and theory development and their usability in solving real professional problems, with minimum guidance.
2. Get the ability to search for and synthesize new information from the field of economic theory in literature and practice.
3. Synthesize different knowledge and procedures and are aware of importance of use of professional literature.
4. Can select appropriate techniques for problem solving and are able to evaluate the importance and significance of data.
5. Can identify key aspects of problem from different points of view.
Intended learning outcomes - transferable/key skills and other attributes
Key/Transferable skills
Students:
1. Further develop skills and expertise in the use of knowledge in a specific working area.
2. Upgrade the ability to become an autonomous learner.
3. Upgrade the ability to apply information technology.
4. Further develop their communication skills in an effective manner to effectively and professionally communicate.
Practical skills:
Students:
1. Get practical experience in the field of economic data analysis and interpretation.
2. Are able to act autonomously with defined guidelines and certain level of supervision.
Readings
B. Milanovic, Global inequality: A new approach fort he age of globalization, Harvard University Press. 2016
M.P. Todaro in S.C. Smith, Economic Development, Pearson Education Limited (od 8.izdaje naprej), 2005-2015, izbrana poglavja
N.G. Mankiw, Macroeconomics, Worth Publishers, (od 3. izdaje naprej), 2002-2014, izbrana poglavja
Additional information on implementation and assessment - written exam or two partial test during the semester, 70% ali 2 x 35%
- seminar work 30%
At least 80% of active participation during lectures and seminars is a precondition to undertake partial tests during the semester.
A positively evaluated seminar work including public presentation is a precondition for undertaking the written exam.
Seminar work and written exam have to be positively evaluated in order to get a posititve grade.
