The purpose of this assignment is to demonstrate that you can conduct academic research on Labor Supply and Demand and then use the Economics you are learning in class to analyze it. Here is the best way to approach the assignment:
• Read the assignment and identify all its required elements
• Review the relevant chapters in your textbook.
Requirements for the assignment
1. This assignment should be completed in essay format.
2. It should include an introductory paragraph with a thesis statement, a body, and a concluding paragraph.
3. It should be at least 1,000 words in length.
4. It should cite the course text and at least two academic articles.
5. Your answers should be free of spelling and grammar errors.
6. Please follow APA format.
7. Please cite your sources by using in-text citations. You must also include a reference list.
Labor
How are wages determined in the U.S.? What are the most significant trends in wages over the past five years? Your answer should address the following:
a. Demand for labor
b. Minimum Wage legislation
c. Role of Unions
d. Outsourcing of jobs
Key points to be addressed in the paper:
• Determinants of the demand for labor at the firm and market levels
• What causes the demand curve to shift
• Consequences for the wage rate
• The effect of minimum wage legislation on market equilibrium
• Effect on demand and wage rate of outsourcing jobs
• Role of unions in wage determination – direct and indirect
References (Need two articles too)
OpenStax College. (2017). Labor Markets and Income. In Principles of Microeconomics (chapter 14). Retrieved from https://openstax.org/details/books/principles-microeconomics-2e
Bernstein J. (2016) Wages in the United States: Trends, Explanations, and Solutions. In: Kirsch I., Braun H. (eds) The Dynamics of Opportunity in America. Springer, Cham. https://doi.org/10.1007/978-3-319-25991-8_6
Nunn, R., & Shambaugh, J. (2020, January 21). Whose wages are rising and why? The Brookings Institution. Retrieved from http:// www.brookings.edu/policy2020/votervital/whose-wages-are-rising-and-why/
Bernstein J. (2016) Wages in the United States: Trends, Explanations, and Solutions. In: Kirsch I., Braun H. (eds) The Dynamics of Opportunity in America. Springer, Cham. https://doi.org/10.1007/978-3-319-25991-8_6
Nunn, R., & Shambaugh, J. (2020, January 21). Whose wages are rising and why? The Brookings Institution. Retrieved from http:// www.brookings.edu/policy2020/votervital/whose-wages-are-rising-and-why/
