HRM501 Labour Market Studies (8)
This subject introduces students to the economics of the contemporary Australian labour market by exploring the structure of labour supply, labour demand and how they interact to determine market equilibrium, wages and employment. Both the neoclassical and institutional schools are employed to provide students with a critical understanding of labour markets. The role of investment in human capital and training on labour productivity is covered. The economics of HRM is also explored. Alternative models to the neoclassical dominant paradigm are introduced and contrasted to the neoclassical model. Institutional dimensions of labour markets are explored including the roles of trade unions and Centrelink. The subject concludes with a review of current labour market policies and reforms.