Labour Economics and Policy (OTC301)

OTC301 Labour Economics and Policy course provides an in-depth exploration of the economic principles and policies that shape labour markets. Beginning with foundational economic concepts, the course covers the core mechanisms of demand, supply, and market equilibrium in labour markets. It delves into the dynamics of production, costs, and market structures, highlighting how these factors influence labour demand and wage determination. A key focus is on understanding the labour market in the context of recent economic developments, particularly in Singapore, where global integration, technological advancements, and demographic shifts have reshaped employment patterns and policy decisions. Through a comprehensive examination of the labour market, the course also explores the impact of economic changes, such as technological innovation and government interventions. Students will analyse employment and wage related issues and evaluate policies aimed at addressing these challenges. By the end of the course, students will have a thorough understanding of how labour market function and the role of government and institutions in shaping labour-related economic outcomes.

• Basic Economic Concepts
• Recent Economic Developments in Singapore
• Demand, Supply and Market Equilibrium
• Production, Cost and Market Structure
• Labour Market
• Economic Changes and The Labour Market

• Illustrate the key economic concepts of demand, supply, and market equilibrium.
• Discuss the impact of recent economic developments in Singapore.
• Describe how changes in market structures affect labour demand and wages across different sectors of the economy.
• Design strategies for improving labour market policies.
• Analyse current labour market issues in the local context.