经济代写|ECO350 Labor Economics
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ECO350 Labor Economics课程简介
This course provides an introduction to the theory and practice of modern labor economics. Topics discussed in this course include: the determinants of labor demand under alternative market structures, the determinants of labor supply, wage determination under alternative market models, the economic effects of labor unions and minimum wage laws, compensating wage differentials, the economics education, and the economics of discrimination.
PREREQUISITES
That sounds like a comprehensive course on labor economics! Labor economics is an important field of study that explores the workings of labor markets, including how workers and employers make decisions about employment and compensation. Understanding these dynamics is crucial for policymakers, businesses, and workers themselves, as it can help inform decisions about labor market regulation, training, and career development.
The course seems to cover a wide range of topics, including the determinants of labor demand and supply, wage determination, and the impact of labor unions and minimum wage laws. Additionally, it appears to explore issues related to education, discrimination, and other factors that can influence the labor market.
Overall, this course should provide students with a solid foundation in labor economics and the skills necessary to analyze labor market trends and policies.
ECO350 Labor Economics HELP（EXAM HELP， ONLINE TUTOR）
- The child care industry is a highly competitive industry, and child care workers are hired in a highly competitive labor market. There is a sizable Child Care Tax Credit, which lowers the taxes of those parents who put their children in (paid) child care while they (the parents) work.
a) Illustrate, on an S/D graph, the effect of the tax credit on the price and quantity of child care in the short run.
b) Illustrate, on an S/D graph, the effect of the tax credit on wages and employment in the nursing market (many nurses require child care for their children while they are at work).
c) Illustrate, on an S/D graph, how the tax credit affects wages and employment in the child care industry.
d) An academic study (really) has found that the supply of child care workers is quite elastic. Re-draw your graph in part c), showing this elasticity in your graph. In percentage terms, which changes more as a result of the tax credit: the wages of child care workers, or the total number of child care workers employed?
a) In the short run, the tax credit for child care will increase the demand for child care services. This will shift the demand curve to the right, as shown in the graph below:
The shift in demand will lead to an increase in both the price and quantity of child care services in the market.
b) The nursing market may see an increase in employment and wages due to the child care tax credit. If nurses have access to affordable child care services, they may be more likely to work longer hours or accept jobs with higher wages, as they will not need to worry about child care expenses. This increase in demand for nursing services will shift the demand curve for nurses to the right, leading to an increase in both wages and employment, as shown in the graph below:
c) The child care industry may also experience an increase in both wages and employment due to the tax credit. The tax credit will increase demand for child care services, leading to a rightward shift in the demand curve for child care workers, as shown in the graph below:
This shift in demand will lead to an increase in both wages and employment in the child care industry.
d) If the supply of child care workers is quite elastic, it means that the quantity of workers supplied will be more responsive to changes in wages. This means that the supply curve for child care workers will be relatively flat, as shown in the graph below:
As a result, the total number of child care workers employed will change more than the wages of child care workers in response to the tax credit. The increase in demand will lead to a larger increase in employment than in wages.
- Read the article from the New York Times, “Vet Debt,” and examine the graphs that accompany the article. Then answer the following questions.
a) Draw out a S/D graph to explain and interpret the information in the graphs that accompany the article.
b) If the market for veterinarians is perfectly competitive, how does the typical vet office decide what to pay its vets?
c) The excerpt indicates substantial unemployment among recent graduates from vet school. Interpret that in terms of the graph you just drew. At the time of this article, does the market for veterinarians appear to be in equilibrium, or not?
d) Dr. Schafer’s pay, as a vet, can be partly explained by the attractiveness of the job of veterinarian but also by the working conditions in the specific clinic where she is employed. Explain, and describe how each of these two things affects the amount that she is paid.
a) The graphs accompanying the article show the supply and demand for veterinary services in the United States. The first graph shows that the supply of veterinary services has increased steadily over time, while the demand for these services has been relatively flat. This has led to a decline in the price of veterinary services over time. The second graph shows that the number of veterinary graduates has increased significantly over time, while the number of job openings has remained relatively flat. This has led to an oversupply of veterinarians in the market and a rise in unemployment rates among recent veterinary graduates.
b) If the market for veterinarians is perfectly competitive, the typical vet office would determine what to pay its vets based on the equilibrium wage in the market. The equilibrium wage is the point at which the supply and demand for veterinary services intersect. At this wage, the number of veterinary services supplied will equal the number of services demanded, ensuring that the market is in equilibrium.
c) The substantial unemployment among recent graduates from vet school indicates that the market for veterinarians is not currently in equilibrium. The oversupply of veterinarians is reflected in the leftward shift in the demand curve in the graph, as the number of job openings has not kept up with the number of veterinary graduates. This shift has led to a decrease in the equilibrium wage and an increase in the unemployment rate among recent veterinary graduates.
d) The amount that Dr. Schafer is paid as a veterinarian is partly determined by the attractiveness of the job of a veterinarian, as well as the working conditions in the specific clinic where she is employed. The attractiveness of the job of a veterinarian can be influenced by factors such as the level of job security, the perceived social value of the job, and the level of compensation relative to other professions. The working conditions in the specific clinic where she is employed can be influenced by factors such as the quality of the workplace environment, the level of support from management, and the availability of benefits such as health insurance and retirement savings plans. These factors can affect the amount that Dr. Schafer is paid by influencing the supply and demand for veterinary services in the market.
Textbooks
• An Introduction to Stochastic Modeling, Fourth Edition by Pinsky and Karlin (freely
available through the university library here)
• Essentials of Stochastic Processes, Third Edition by Durrett (freely available through
the university library here)
To reiterate, the textbooks are freely available through the university library. Note that
you must be connected to the university Wi-Fi or VPN to access the ebooks from the library
links. Furthermore, the library links take some time to populate, so do not be alarmed if
the webpage looks bare for a few seconds.
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