The course uses economics to answer many of the practical questions that managers face when dealing with their personnel. For example:
How do I set the appropriate hiring standards? Should I hire more workers or increase the hours of current workers? Should I pay workers based on their hours of work or on their output? How can I create incentives for my workers to work hard? When is a collective bargaining negotiation likely to end up in arbitration? How do I choose between buying out and laying off my workers? Which workers should I promote?


The course objectives are first, to provide students with a framework from which to judge the impact and appropriateness of various employment practices and second, to provide an opportunity to further critical analytical skills. While students are not expected to know anything about labour economics, a strong background in microeconomics and mathematics will be expected.