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EC 302 Labor Economics
Soule, Peter E.


Mission Statement: The mission of Park University, an entrepreneurial institution of learning, is to provide access to academic excellence, which will prepare learners to think critically, communicate effectively and engage in lifelong learning while serving a global community.

Vision Statement: Park University will be a renowned international leader in providing innovative educational opportunities for learners within the global society.

Course

EC 302 Labor Economics

Semester

SP 2009 HO

Faculty

Soule, Peter E.

Title

Professor of Economics and Chair of Economics Department

Degrees/Certificates

Ph.D. Economics

Office Location

Mackay 27A

Office Hours

TR 8:00 - 11:00 am

Daytime Phone

816-584-6301

Other Phone

Cell: 913-486-5649

E-Mail

pete.soule@park.edu

Class Days

-MF-----

Class Time

12:25-1:40 PM

Prerequisites

EC142

Credit Hours

3


Textbook:

George Borjas, Labor Economics, 4th ed. McGraw-Hill ISBN978-0-07-340282-6 

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:
  Wall Street Journal. Available in library, or by semester subscription. Required for term project.

McAfee Memorial Library - Online information, links, electronic databases and the Online catalog. Contact the library for further assistance via email or at 800-270-4347.
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Course Description:
EC302 Labor Economics: A study of wages, working hours, conditions of work, fringe benefits. Also, an analysis of purchasing power of wages, and productivity. Attention is given to labor unions and to government attitudes toward labor. Prerequisites: EC142 3:0:3

Educational Philosophy:
  The purpose of this course is to educate, which requires two things to happen. The teacher must teach or facilitate learning and the student must learn the required materials. This requires feed back to the instructor on how the student is learning. This feedback occurs in written work and classroom discussion. It is preferred that students ask questions during class as they arise. Often, a student will approach the instructor after class with a question that brings up a very important point that should have been addressed during class but the class is out the door. This is especially true with perceived calculation errors on the part of the instructor, which were placed on the white board and are therefore in everyone’s notes. If there was an error, it will be corrected. If not, there was confusion not only on the part of the student asking the question, but also others in the class, who saw the same apparent error but didn’t ask about it. Obviously, this calls for additional clarification on the part of the instructor.  No student will be belittled for asking a question or making a comment.The homework is intended to assess what students know and what they don’t. Perfection is not expected and the grading is very inflated. Homework is graded based on effort while tests and papers are graded on achievement. If the student indicates a near total lack of understanding of assigned homework, the grading will become more realistic so that the student is not lulled into a false sense of mastery just before the test boom gets lowered. A second area where grading is benign is theProgress Report. Having said this, it is still true that a perfect or near-perfect homework or Progress Report will earn a higher grade than a less perfect one. 

Learning Outcomes:
  Core Learning Outcomes

  1. Using supply and demand analysis, demonstrate and explain how labor is supplied to the marketplace in the short and long run.
  2. Using supply and demand analysis, demonstrate and explain how labor services are demanded by the marketplace in the short and long run.
  3. Explain how the labor market is influenced by unionism and governmental policies.
  4. Define the capital-labor ratio and identify how it impacts labor in a specific industry or occupation.
  5. Describe how income differentials arise based on age, education, and experience differences and explain how the pursuit of a college degree increases an in-egalitarian distribution of income.


  Instructor Learning Outcomes
  1. 6.  Assemble a term project that analyzes Wall Street Journal articles on Labor Economics.
Core Assessment:

All Park University courses must include a core assessment that measures the course Learning Outcomes.  The purpose of this assessment is to determine if expectations have been met concerning mastery of learning out comes across all instructional modalities.  For this course, the core assessment is a research paper worth 20 percent of the student's final grade.  This paper will assess students' mastery of four core learning outcomes (Learning Outcomes 1,2, 3, and 4 listed on this syllabus).

 Each student will be randomly assigned one of the general topics identified below.  Each student must then choose an original, unique specific topic by finding areal-world example of the general topic. Students may not use real-world examples from the textbook, and no two students may have the same specific topic.

Link to Class Rubric

Class Assessment:

 HOMEWORK: Homework is graded liberally and solution copies are provided to students. The primary purpose of homework is to give feedback to the students and the instructor as to what learning has taken place. Successful mastery of homework is necessary preparation for the test(s). Any questions on the homework problems need to be resolved prior to the subsequent test.

TEST INFORMATION: Tests will primarily involve problem solving but may also have multiple choice and/or short answer sections. The problems will be similar to those presented in class and provided in the homework assignments. The final exam will be comprehensive.

 

Grading:
 Grading Plan: A: 90% and up. B: 80-89%. C: 70-79%. D: 60-69%. F: below 60%.   A 2% lower cutoff will be in effect for those who have completed all homework and do not have excessive absenteeism.

                 Evaluation Item        Points               Percentage            Date         

                      Homework          200                       20%                  Assigned in Class

                          Test One         150                       15%                 Feb 13

  WSJ Project Progress          100                       10%                Mar 6             
 
                          Test Two         150                       15%                Mar 20      

          WSJ Project Report      100                       10%                 Apr 27

                      Final Exam          300                      30%                 May 4

                            TOTAL         1000                     100%

The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

All final exams in all School of Business and Management courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth. Electronic Computers will not be allowed on final exams unless an exception is made by the Dean of the School of Business and Management.

Late Submission of Course Materials:
 
Completed homework is collected at the beginning of the class on the day it is due. After that time, up to the point at which the solution is distributed, the maximum homework grade will be 50%. Typically, the homework solution is distributed when homework is returned. After this point LATE HOMEWORK CAN EARN NOT MORE THAN 20% CREDIT. 

A student, who misses an exam, is allowed to make it up if their absence was excused before the test or is a genuine emergency. Makeup tests will substitute essay questions for the short answer and multiple-choice portion of the original exam. The makeup test will have a different problem section and will include subjects covered since the exam that was missed.

Classroom Rules of Conduct:
CELL PHONES and PAGERS. Turn off cell phones and pagers before class. Anyone, who has a vital need for such devices during class, must discuss this with instructor before class. In this situation, if device has a vibrate mode, it must be used. The student must leave the room to take any message. Cell phone and Pagers will be put away for all in-class tests. Anyone with an emergency will sit in the front of the class and place their electronic device on the instructor's desk.

 E-MAIL TO INSTRUCTOR: Always use the following subject line: EC302, First-Name, Last-Name, and (short) subject. If you leave a message by voice mail or any other means be sure to include this information.

Course Topic/Dates/Assignments:
 

                            Subjects                                                                     Chapter            Date

                         Introduction and Supply of Labor                                   1               Jan 12-16 
                      
                        The Decision to Work                                                      2                   Jan 23-26    
 
    
                    Topics in Labor Supply                                                    3                   Jan 30- Feb 6
 
                   Introduction to Labor Demand                            4               Feb 9
     
                       Test One                                                                                                 Feb 13

                        Labor Demand and Labor Market Equilibrium           4(-) & 5          Feb 20

                        Compensating Wage Differentials                                   6                Feb 23-27

                        Human Capital                                                                    7                Mar 2-6
                             ( Mar 6: Wall Street Journal Project Progress Report)
                       
                         Wage Structure                                                                  8                Mar 16-20

    
                    Test Two                                                                                              Mar 23   
       
                         Labor Mobility                                                                    9                Mar 27-30 
 
                         Labor Market Discrimination                                         10               Apr 6-13
 
                         Labor Unions                                                                   11              Apr 17
    
                         Incentive Pay                                                                    12             Apr 24-27

                         Unemployment                                                                  13           May 1
  
                             (WSJ Report Due)

           Dec 8               FINAL TEST                                                           All Previous Ref

Academic Honesty:
Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life.   Park University 2008-2009 Undergraduate Catalog Page 87

Plagiarism:
Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. Park University 2008-2009 Undergraduate Catalog Page 87

Attendance Policy:
Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.

  1. The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.
  2. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  3. In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "F".
  4. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  5. Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.
  6. Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.

Park University 2008-2009 Undergraduate Catalog Page 89-90

Disability Guidelines:
Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: http://www.park.edu/disability .



Rubric

CompetencyExceeds Expectation (3)Meets Expectation (2)Does Not Meet Expectation (1)No Evidence (0)
Evaluation                                                                                                                                                                                                                                                 
Outcomes
1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Supply and demand analysis is used to demonstrate and explain how labor is supplied to the marketplace in the short and long run with no mistakes. Supply and demand analysis is used to demonstrate and explain how labor is supplied to the marketplace in the short and long run with one to three mistakes. Supply and demand analysis is used to demonstrate and explain how labor is supplied to the marketplace in the short and long run with more than three mistakes. Supply and demand analysis is not used to demonstrate and explain how labor is supplied to the marketplace in the short and long run. 
Synthesis                                                                                                                                                                                                                                                  
Outcomes
2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Supply and demand analysis is used to demonstrate and explain how labor services are demanded by the marketplace in the short and long run with no mistakes. Supply and demand analysis is used to demonstrate and explain how labor services are demanded by the marketplace in the short and long run with one to three mistakes. Supply and demand analysis is used to demonstrate and explain how labor services are demanded by the marketplace in the short and long run with more than three mistakes. Supply and demand analysis is not used to demonstrate and explain how labor services are demanded by the marketplace in the short and long run. 
Analysis                                                                                                                                                                                                                                                   
Outcomes
3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
The impact of unionism and governmental policies on a specific industry or occupation is identified with no mistakes. The impact of unionism and governmental policies on a specific industry or occupation is identified with one to three mistakes. The impact of unionism and governmental policies on a specific industry or occupation is identified with more than three mistakes. The impact of unionism and governmental policies on a specific industry or occupation is not identified. 
Application                                                                                                                                                                                                                                                
Outcomes
4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
The capital-labor ratio is perfectly defined and its impact on labor in a specific industry or occupation is perfectly explained. The capital-labor ratio is defined and its impact on labor in a specific industry or occupation is explained with one to three mistakes. The capital-labor ratio is defined incorrectly and its impact on labor in a specific industry or occupation is explained with more than three mistakes. The capital-labor ratio is not defined and its impact on labor in a specific industry or occupation is not explained. 
Content of Communication                                                                                                                                                                                                                                   
Outcomes
4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Works Cited page is properly formatted and complete. Works Cited page has one to two errors. Works Cited page has three or more errors. Works Cited page is not present. 
Technical Skill in Communicating                                                                                                                                                                                                                           
Outcomes
1,2,3,4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
Four research sources are correctly identified on the Works Cited page and five sources are cited. Three to two research sources are correctly identified on the Works Cited page and four to two sources are cited. One research source is correctly identified on the Works Cited page and four to two sources are cited. No research has been conducted. 
First Disciplinary Competency                                                                                                                                                                                                                              
Outcomes
1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Supply analysis is applied to the labor market with no mistakes. Supply analysis is applied to the labor market with one to three mistakes. Supply analysis is applied to the labor market with more than three mistakes. Supply analysis is not applied to the labor market. 

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Last Updated:12/3/2008 4:41:11 AM