Penn State University World Campus
What is Labor Economics?
Economics is the study of decision-making under scarcity. Labor economics is the focus of how firms make decisions on the number of resources (namely labor) to utilize. On the supply side, labor economics focuses on the decision of workers to determine the quantity and quality of labor they provide to the labor market. Labor Economics takes a holistic view of the labor force but is grounded in microeconomic theory.
My Favorite Quotes
The Wealth of Nations
It is not from the benevolence of the butcher, the brewer, or the baker, that we can expect our dinner, but from their regard to their own interest.
Marginal Revolution University
Economics is everywhere, and understanding economics can help you make better decisions and lead a happier life.
An incentive is a bullet, a key: an often tiny object with astonishing power to change a situation.
Meet The Team
Your course's grading assistant will be a PhD student in the Department of Economics. They will not hold office hours, nor are available for individual help.