Labour economics

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Labour economics is the subfield of economics concerned with the study of labour as an input to economic production. Broadly, it surveys labor markets and the economic decisions of agents (i.e., workers and employers) participating in such markets. Topics of study include the labour supply of workers and how it is affected by variables such as age, education, gender and childbearing, as well as the labour demand by firms searching for different forms of labour as an input in the production of goods and services. Other topics of study in labour economics include schooling and human capital, inequality and discrimination, collective bargaining and trade unions, technological change and unemployment, ownership and monopsony, and public policies such as unemployment benefits, pensions, health care and minimum wages.

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