Labor and Human Resources Economy (261218)

Learning Outcomes

* Contextualize the workings of the labor market
* Understand the conventional economic perspective about the labor maket functioning
* Critically discuss the conventional economic perspective of the labor market
* Relate the alternative perspectives of the labor market
* Understand and apply the economic models to personnel economics

Study Program

1. Introduction to Labor Economics (general aspects of the labor market; the need for a theory)
2. Labor supply (preferences, budget constraints; labor supply curve; elasticities;)
3. Job demand (the production function; short-term and long-term employment decision-making; labor demand curve, elasticities)
4. Equilibrium in the labor market (equilibrium in perfect cooperation; equilibrium in imperfect cooperation).
5. Criticism of the neoclassical view of the labor market (the unrealism of budgets; lack of empirical foundation; alternative perspectives)
6. The application of the principles of Labor Economics to the management of human resources (genesis and evolution of the personnel economy)
7. Economic theories in human resource management (human capital theory; signaling theory; compensating differentials theory)



Borjas, George (2011), Economia do Trabalho. Lisboa: MacGraw-Hill, 5ª edição.  English version
Borjas, George (2016), Labor Economics, New York: MacGraw-Hill, [seventh edition]
Ehrenberg, Ronald; Smith, Robert (2012), Modern Labor Economics. Theory and Public Policy. New York: Prentice Hall, eleventh edition


Champlin, Dell e Knoedler, Janet (2005), The Institutionalist Tradition in Labor Economics. Routledge: Nova Iorque.
Ehrenberg, Ronald e Smith, Robert (2012), Modern Labor Economics: theory and public policy. Boston: Prentice Hall.
Kaufman, Bruce (2010), The theorical foundations of industrial relations and its implications for labor economics and human resource management, Industrial and Labor Relations Review, 64,1, 74-108.
Gunderson, Morley (2001), Economics of Personnel and Human Resource Management, Human Resource Management Review, 11, 4, 431-452.
Lazear, Edward e Gibbs, Michael (2008), Personnel Economics in Practice. Nova Iorque: Wiley. 
Solow, Robert (1990), The Labor Market as Social Institution. Cambridge, Mass. E Oxford, Inglaterra: Basil Blackwell.