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Labor Market Institutions: Minimum Wages, Unionization, Contracts

In this chapter, there is emphasis on labour market institutions, minimum wages, unionizations, and contracts. The differences in institutions are one of the causes in the differences in performance…

From  SDG Academy 7 plays

Labor and Saving, Part I

In the continued study of the full employment economy, we want to understand how many workers there are that want to work, and how many will be employed if the workforce is fully employed. Once we…

From  SDG Academy 3 plays

Output Determination in the IS-LM Model

This chapter explains the IS-LM model of John Hicks to understand aggregate demand management. Assuming that wages are sticky and that the price that the business charges is a fixed markup over the…

From  SDG Academy 40 plays