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--> Detailed syllabus can be found here: https://learn.wu.ac.at/vvz/22s/5516

“MSc Economic Policy” covers the political-economic and theoretical foundations, empirical analysis and policy spaces of labor markets. We put special emphasis on questions of inequality (before and after state redistribution) in multiple dimensions, including industrial and firm inequality, and the gender and racial wage gaps. 

• The first part introduces different theoretical approaches to the labor market (Neoclassical model with special emphasis on monopsony, Post-Keynesian and Political Economy).

• In the second part, we discuss state-of-the art approaches and novel microeconometric methods as well as the resulting empirical evidence in selected but widely debated areas of labor market policy. Examples are minimum wages, employment subsidies, employee’s representation, anti-discrimination, the design of unemployment insurance and tax-and-benefit-based redistribution. We also study and discuss the relationship between empirical research (results) and their theoretical foundation. 

• Throughout the semester: (i) Students have to develop and carry out an empirical research project based on micro-data to study an important question in the field of labor market research and policy. The outcomes have to be presented in the third part of the course; (ii) Students improved on general skills, in particular their ability to think critically, and their academic reading and presentations skills. 

After having successfully completed “MSc Economic Policy” 

• Students have acquired advanced knowledge of the theoretical foundations of labor markets and of methodological approaches to study the dynamics of labor markets and (active) labor market policies. 
• Students have acquired a sound understanding of contemporary debates and the more recent economic literature in the field of labor economics and of challenges in European labor market policies. 
• They have developed a firm understanding of the identification strategies and econometric methods used to evaluate policies as well as hypotheses on the inner workings of the labor market. 
• Students have learned to formulate relevant research questions, to develop a research proposal, to employ suitable methods, to work with microdata, and the have developed skills to present their research projects in a conference-style setting. In addition, they have improved substantially their ability to grasp the main arguments and to critically assess academic research papers. 
• Graduates of the course understand the different theoretical approaches as well as the policy proposals arising from them and are able to participate in informed debate on their respective economic merits.

Attendance of all sessions is highly encouraged. Each lesson begins with a quiz on the literature that had to be properad. These quizzes count towards the final grade.

The course employs three different didactic strategies in the three separate parts of the semester. 

The class starts with theories of labor markets, where lectures build on the obligatory literature. 

In the second phase, a flipped classroom scheme has students read empirical analyses of policies and ‘natural’ experiments, where lectures are used to  provide an in-depth discussion of the corresponding methods and results, and to put the papers in context of the larger scientific debate. 

Throughout the semester, students engage in group work on their own projects and peer teaching. Suitable micro-datasets are made available to students by the lectures (microcensus, sample data from wage and income tax statistics, etc. ). The outcomes of the project have to be presented in the third phase. 

Students have to read two to three research articles per week, each session starts with a quiz on this literature. In addition, students have to write and submit two discussions of papers. A few stylised examples of papers are listed below, a detailed reading list will be distributed in class.  

Informed participation in discussions (10%)

Weekly quizzes (20%)

Written assignments (discussion/referee report) on two research papers (20%)

Presentation of research project (50%)

First-Come-First-Serve + Regulations of MSc Economics (Applied Track)

franziska.disslbacher@wu.ac.at

patrick.mokre@akwien.at

Office hours upon appointment.