Labour Economics

At the end of the course, the student should be able to: 1. discuss dynamics of the markets for wage labour; and 2. discuss wage negotiation between labour hospital workers and management.

What is labour? Labour as a commodity. Labour force definition and concepts. Labour market theories. Determinations of sizes and composition of labour force. Distribution of labour force. Functioning and dynamics of the markets for wage labour. Labour markets or job markets function through the interaction of workers and employers. Suppliers of labour services (workers) and the demanders of labour services (employers). Resultant pattern of wages, employment, and income. Nature of labour problems in developing countries. The informal sector and the modern sector. Economics of wage determination. Features of Nigerian labour market, manpower development.