New Autumn Semester Courses in 2021

363-1159-00 Labour Economics

The new elective course Labour Economics (363-1159-00), offered by Dr Michael Siegenthaler and Dr Daniel Kopp from the KOF Swiss Economic Institute, will provide insights into the central issues in labour economics, including the determinants of labour supply, firms’ demand for workers, minimum wages, unemployment, wage inequality, immigration, and discrimination against women and foreigners.

Students will find the answers to relevant questions about modern labour markets: Who works, how much, and why? Do people work less if they have a universal guaranteed income or pay higher taxes? How does a firm determine its employment needs? Does a minimum wage reduce the number of workers employed, even as it purposes to benefit them? How does unemployment arise? What does unemployment insurance do, and what are its effects? What has driven the surge in wage inequality in developed countries over the last few decades? What are the effects of immigration on resident wages and employment? Does wage and hiring discrimination against women, men, or foreigners exist in the labour market, and if so, why does it arise?

After presenting how modern labour economics conceptualises these issues, the course will discuss state-of-the-art empirical research papers that provide answers to the questions raised above. In examining these works, the course provides an introduction to basic statistical methods and data-analysis techniques, including regression analysis and quasi-experimental methods. Students will also learn how empirical researchers use big data to infer causation from correlation. As an introduction to modern applied economics, the course does not require any prior background in economics or statistics.

The course is open to D-MTEC MSc and MAS students.

363-1160-00 Economics by its Nobel Prizes

Who are the 86 Nobel Prize laureates in economics, and what have their scholarly contributions been? The new elective course Economics by its Nobel prizes (363-1160-00), offered by Dr Adrien Fabre of the Chair of Integrative Risk Management and Economics, will introduce the major concepts, theories and results that make up modern economics through an overview of the work of a selection of Nobel Prize winners and Leontief prize laureates.

As the scope of the course is purposefully broad, lectures will examine concepts relevant to many different interests. Indeed, economics is closely linked to a number of other domains, such as politics, finance, management, statistics, psychology, and economics concepts may be applied in a variety of contexts. The course will also help students think about important contemporary issues, including public debt, fairness of tax redistribution, the role of government, and climate change. More generally, the course will contribute to students’ overall cultural knowledge.

The course is open to D-MTEC MSc, MAS and doctoral students.