Course in The Economics of Human Resources

Indian Institute of Management Calcutta
In Kolkata

Price on request
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Important information

  • Course
  • Kolkata

Important information

Where and when

Starts Location
On request
INDIAN INSTITUTE OF MANAGEMENT CALCUTTA Diamond Harbour Road Joka, 700104, West Bengal, India
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Course programme

Ever wondered why MBAs were paid so high or that how the $ commanded such a premium. It's time you were exposed to the dynamics of demand and supply. This is just the begining of a journey to understand the rational drivers of all economic activities. Accompanying you on this journey will be arguably the best faculty in the entire nation. Acquire the differentiator to pre-empt competition and demolish all existing monopolies.

AIM/OBJECTIVES: The objective of this course is to familiarize MBA students with the basic analytical tools used by labour economists to study labour market processes and labour market outcomes. The essential purpose here is to expose business school students to both the neoclassical and the institutional approaches to the study of human resources and labour markets. The course is specifically designed and targeted for b-school students interested in effecting managerial change in their organizations in the context of globalization and rapid economic change. Consequently, the course stresses more on concepts and policy rather than on the intricacies of economic formalism.


1.1 Labour Supply
1.2 Labour Demand
1.3 Labour Market Equilibrium
1.4 Human Capital, On-the-Job-Training & Earnings
1.5 Labour Market Discrimination
1.6 Economics of Trade Unions
1.7 Unemployment
1.8 Labour Market Contracts & Work Incentives
1.9 Bounded Rationality & Private Information
1.10 Moral Hazard & Performance Incentives
1.11 Employment Policy & HRM
1.12 Internal Labour Markets
1.13 Compensation & Motivation
1.14 Executive & Managerial Compensation


Two basic texts will be followed: George Borjas, Labor Economics, 1996, Mcgraw-Hill International Edition and Paul Milgrom & John Roberts, Economics, Organization and Management, 1992. Prentice-Hall. There are copies of the Borjas text and copies of the relevant chapters from the Milgrom-Roberts text at the library textbook section.


Lectures and Interactive Class Discussion: Students are expected to read the assigned chapters prior to the lecture so that sufficient time is spent in class discussions.


A comprehensive end-term (closed book) three-hour exam will be held comprising of material covered in class. The weight for this end-term will be 60% of the final grade. The rest of the weight (40%) will be based on a research paper that will be due at the end of the term. Ideally, this research paper should be empirically based, i.e., one that uses existing data bases and standard computer statistical packages. Students are required to clear their research topics with the instructor prior to starting on their projects.

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