Module code: ECOM028

Module provider


Module Leader

MCNALLY S Prof (Economics)

Number of Credits


ECT Credits



FHEQ Level 7

JACs code


Module cap (Maximum number of students)


Module Availability

Semester 2

Overall student workload

Lecture Hours: 22

Assessment pattern

Assessment type Unit of assessment Weighting
Coursework COURSEWORK - 1,500 WORD REPORT 25
Examination EXAMINATION - 2 HOURS 75

Alternative Assessment

Not applicable

Prerequisites / Co-requisites


Module overview

This module examines the importance of labour to organisations. It analyses the demand and supply of labour and applies this framework to consider contemporary issues such as how workers are paid and the consequences for incentives, productivity, investment in training/education, and inequality

Module aims

Apply economic principles to understand the demand and supply of labour.

Apply an economic framework to show how firms and workers make decisions.

To provide an understanding of the consequences of forms of remuneration on individuals, firms and the economy.

Learning outcomes

Attributes Developed
Apply standard economic principles to a range of issues in labour economics KC
Recognise the importance of incentives and contracts in the design of remuneration packages K
Reconcile the main theoretical arguments in the area of labour economics with recent empirical findings KC
Make policy recommendations to encourage firms to adopt the appropriate compensation packages KPT
The ability to express economics principles taught on this course clearly in writing PT

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Module content

Indicative content includes:

Background – labour supply and demand
Human capital: Returns to schooling and post-school investment.
Trade unions and wage bargaining
Incentives to work – how to make people work harder
Efficiency wages – How to reduce labour turnover
Performance related pay – when to pay individual/group PRP
Chief executive pay – Are they worth it?
Inequality, tasks and technical change
Compensated wage differentials - good/bad jobs
Fringe benefits – wages or other compensation?

Methods of Teaching / Learning

The learning and teaching strategy is designed to:

In accord with the University’s learning and teaching strategy, this module will provide research-led teaching that introduces students to the latest findings in this subject area. The learning and teaching strategy aims to develop their powers of critical insight and intellectual synthesis as well as knowledge of the specific content taught in this module.

The learning and teaching methods include:

2 hour lectures and group discussion per week x 11 weeks.

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate

Knowledge and skills in this subject area.
Ability to critically assess different theories and empirical findings.

Thus, the summative assessment for this module consists of:

A 1500 report, typically submitted Week 9

A 2 hour examination. Students will be asked to answer three out of five short questions and one out of three longer essay type questions.

Formative assessment and feedback

Students will receive written feedback on their coursework as soon as possible after the deadline for submission

Reading list


Programmes this module appears in

Programme Semester Classification Qualifying conditions
Economics MSc 2 Optional A weighted aggregate mark of 50% is required to pass the module
Business Economics and Finance MSc 2 Compulsory A weighted aggregate mark of 50% is required to pass the module

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2017/8 academic year.