Fall 2007Graduate students: Grades will be based on homework (10 percent), class participation (5 percent), two midterm exams (50 percent), a final exam (25 percent), and a paper (10 percent). However, your grade may be reduced for poor attendance and/or tardiness. See below for a description of each component.Course NarrativeEconomics 415-002: Economics of Employment Relations Fall 2007When: Tuesdays, 5:30 —8:10 PM Where: Physics 147Professor: Prof. Scott Drewianka TA: Michael CoonProfessor’s Office: Bolton 860 TA’s Office: Bolton 815Professor’s E-mail: [email protected] TA’s E-mail: [email protected] Professor’s Office Hours: Tuesdays, 3:30-5 PM TA’s Office Hours: Tuesdays, 11:30-1:00Thursdays, 3:30-5 PM Thursdays, 11:30-1:00 * The scheduled office hours are times during which I will be available to meet with students on a walk-in basis. Students who wish to meet with me at other times are invited to contact me to set up a special appointment (attendance mandatory). Course Web Site: http://www.uwm.edu/~sdrewian/CourseMaterials.htmGoals of This Course: This course will introduce students to the main topics, ideas, issues, and methodologies of labor economics. The goals are as follows: (1) to become familiar with basic economic theories about labor markets and labor market institutions, (2) to learn some empirical facts related to those theories, and (3) to develop an ability to think analytically and quantitatively about issues related to labor economics. See the handout entitled “The Economic Perspective” for an extended description of “the economic approach.”Prerequisites: Economics 103 (Principles of Microeconomics)Textbook (available at the University bookstore): The course will emphasize the material covered during lectures, but a textbook is also available as a study guide:Campbell R. McConnell, Stanley L. Brue, and David A. Macpherson. 2006. Contemporary Labor Economics, 7th edition (Boston, MA: Irwin/McGraw Hill). NOTE: The 5th or 6th editions are very similar to the 7th, so you may use them instead.Four other texts you might consider reading for a different presentation from what McConnell et al. offer:1. Lloyd G. Reynolds, Stanley H. Masters, and Colletta H. Moser. 1998. Labor Economics and Labor Relations, 11th ed. (Upper Saddle River, NJ: Prentice Hall).2. Bruce E. Kaufman and Julie L. Hotchkiss. 2006. The Economics of Labor Markets, 7th ed. (Fort Worth, TX: Dryden Press).3. Ehrenberg, Ronald G., and Robert S. Smith. 2006. Modern Labor Economics: Theory and Public Policy, 9th ed. (Boston, MA: Addison Wesley). [A bit more advanced.]4. Francine D. Blau, Marianne A. Ferber, and Anne E. Winkler. 2002. The Economics of Men, Women, and Work, 4th ed. (Upper Saddle River, NJ: Prentice Hall). [Labor econ from a feminist perspective.]Grading: Undergraduate students: Grades will be based on homework (15 percent), class participation (5 percent), two midterm exams (50 percent), and the final exam (30 percent). However, your grade may be reduced for poor attendance and/or tardiness. See below for a description of each component.Graduate students: Grades will be based on homework (10 percent), class participation (5 percent), two midtermexams (50 percent), a final exam (25 percent), and a paper (10 percent). However, your grade may be reduced for poor attendance and/or tardiness. See below for a description of each component.1. Homework: There will be 8 homework assignments during the semester. They can be downloaded from the course webpage: www.uwm.edu/~sdrewian/CourseMaterials.htm. The purpose of homework is not to test your understanding (that is what exams are for), but rather to develop it. This idea guides the homework policies in this class:a. The goal in grading homework is to reward the effort to understand, rather than immediate understanding itself. It is okay to make mistakes—sometimes you can learn a lot from them, provided you put in some thought and effort. In keeping with this, you will receive full credit for any homework assignment on which you display a reasonable effort to answer the questions.b. Because discussion promotes learning, students are encouraged to work together and discuss homework assignments. However, each student must submit assignments individually—in his or her own words—and properly acknowledge all sources and assistance received.c. Homework must be turned in on time. Late work will not be accepted.2. Class Participation: Obviously, you will learn more (and probably a lot more) if you are actively involved in the class. Beyond that, your active participation will help your classmates learn more as well. For instance, when you ask a question in class, you identify a concern that is likely shared by many of your fellow students. Similarly,bringing up a new example in discussion will help others see how the course material can be applied in practice.Accordingly, part of your grade will reward class participation. Everyone will start with a B on this factor, but that mark will be raised or lowered throughout the semester depending on how much you participate. (Last semester the average mark was a B+ on this part.) Since everyone will be better off if the class “stays together,” you may also receive participation credit for attending the professor’s office hours with questions about substantive material from the course.3. Exams: There will be two midterm exams and a cumulative final exam. Each exam will test students’ understanding of course material and their ability to apply these theories to specific real-world problems. Most questions will be of the “short answer” variety (where the desired answer is 1-2 sentences on the topic), though some may be a bit more involved. There will be no “multiple choice” questions. Sample exams are available on the course webpage (www.uwm.edu/~sdrewian/CourseMaterials.htm).Midterm exam dates: October 9, November 13Final exam date: December 18, 5:30-7:30 PM4. Paper (Graduate students only): The graduate students in the class will be assigned a short paper (about 5 pages) on the economics of compensation. The specific topic to be addressed will be announced in mid-semester,and the paper will be due on November 20.Course and Departmental Policies1. Attendance and Promptness Policy: Attendance and promptness are mandatory. Both absences and entering/exiting the class during lectures are unfair to other students in the class: absences make it difficult to