Labor and the Economy

LABR

607

Labor and the Economy

"This course provides students of contemporary labor with an essential knowledge of micro- and macro economic theories that explain conditions of work, workers and labor institutions. The course offers an overview of capitalism as an economic system, focusing on the principles and logic that underlie American capitalism in particular. Students will explore the role of production and profits; competition and concentration; wages and work; technology; and control and conflict in the workplace. They will examine issues of particular concern to workers and unions, including inflation; trade; internationalization; and globalization. They will also examine how unions affect wages, productivity and profitability. These questions will be discussed in historical perspective, considering classical, neo-classical and neo-Marxist theories. The operation of markets will be considered, focusing on supply and demand; competition; coordination; and market failures and limitations. Macroeconomic issues will be evaluated in terms of the "Keynesian Revolution" in economic thinking, which resulted in government regulation of the economy through taxation, monetary policy and government spending, as well as historical and contemporary challenges to this paradigm. Students will also focus on the political economy of discrimination, seeking to understand how disparities of income and the distribution of wealth are affected by race, gender and class.

Fall, Spring

Graduate

Yes