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4 pages/≈1100 words
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Level:
MLA
Subject:
Mathematics & Economics
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Coursework
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English (U.S.)
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Econ Exam Mathematics & Economics Coursework Paper (Coursework Sample)

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To what extent are earnings differentials between workers, otherwise comparable in their human capital characteristics, attributable to this factor (provide examples):
A) unpleasant (disagreeable, hazardous) or pleasant jobs or working conditions, i.e., compensating wage differentials?
B) ONE of their personal characteristics -- either their age, gender, race/ethnicity or appearance -- for which employers might tend to engage in at least one particular type of labor market discrimination (e.g., pure, statistical and occupational crowding)?
C) being a member of labor union -- either a craft, industrial vs. professional type of union?
D) employers' use of "efficiency wage" pay strategies, intended to promote a future increase in marginal revenue product (MRP) or decrease in average cost of labor?
Analyze the following predictions for the state of the labor market, during and following the current crisis associated with the Covid-19 pandemic and consequent shutdowns:
A) "labor markets will have more monopsonies--a single dominant employer--but more also will have labor unions representing workers--so the net result on equilibrium wage (W*) rates will be indeterminate -- i.e., could go up or down (ambiguous)."
B) "unemployment rates will rise, but only slightly, because there will be both greater non-labor force participation and worker underemployment (reduced hours but still employed)."
C) "the distribution of earnings will NOT become more unequal, rather it will become more equal, because all types of labor are currently getting more raises, bonuses, hazard pay and other types of incentive pay for performance (including wage, salary and 'gig' labor)"
Choose ONE specific, relatively low-wage occupation (for example, "cashier," "food server" or "home healthcare aide") and then -- project both the direction and size of the quantity of labor (aggregate employee*hours), in:
A) the short-run (the upcoming year), given cyclical, structural and frictional factors in the current labor market
B) the long run (10 years into the future from now), due to the skill and licensing (credentials) requirements their underlying determinants of labor productivity
C) the job becomes covered by at least one of these policies (pick one):
i) an increase in the legal minimum wage rate (e.g., gradually to $15/hour),
ii) premium pay (e.g., 1.5x) for any "overtime" work hours beyond 35 hours per week,
iii) minimum mandated paid sick leave of up to 10 days per year (80 hours)
iv) work-sharing with "short-time compensation" -- partial unemployment insurance coverage if their workweek is reduced instead of a total layoff or furlough

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Content:

Name
Course
Instructor
Date
ECON EXAM
To what extent are earnings differentials between workers, otherwise comparable in their human capital characteristics, attributable to this factor (provide examples):A) “unpleasant (disagreeable, hazardous) or pleasant jobs or working conditions, i.e., compensating wage differentials?”
Unpleasant (disagreeable, hazardous) jobs and working conditions tend to involve more risks for the workers and there is a trade-off between the wages and the risk when considering an indifference curve with the wage and risk of injury. Employers provide higher wages as an incentive in the risky job compared to the safer jobs. For instance, handling chemicals involves risk and highly trained workers are willing to work for a high pay. When there are two jobs paying the same, but one has safe working conditions, potential employees will prefer this job over the risky one.
B) ONE of their personal characteristics -- either their age, gender, race/ethnicity or appearance -- for which employers might tend to engage in at least one particular type of labor market discrimination (e.g., pure, statistical and occupational crowding)?

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