Lecture Notes

* Introduction

+ Some basic labor market concepts
+ Quantitative history of the Hong Kong labor market
+ Simple demand and supply analysis

* Labor Demand

+ Theory of marginal productivity
+ Laws of derived demand
+ Minimum wage

* Labor Supply

+ Labor-leisure choice
+ Taxes, welfare, and other distortions
+ Human capital
+ Education investment and signaling
+ Specialization

* The Structure of Wages

+ Compensating wage differentials
+ Mandated benefits
+ Labor market discrimination
+ Why CEOs make so much money

* Worker Mobility

+ Migration
+ The Mariel Boatlift

* Motivating Workers

+ Piece rate versus salary
+ Case study: Safelite Glass Corporation
+ Promotions as tournaments
+ Industrial politics
+ Career concerns
+ Seniority-based incentive system
+ Efficiency wages

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