KTTA3510 Labour Markets (5 cr)

Study level:
Intermediate studies
Grading scale:
English, Finnish
Responsible organisation:
Jyväskylä University School of Business and Economics
Coordinating organisation:
Open University
Curriculum periods:
2020-2021, 2021-2022, 2022-2023



Labour supply of individuals and households, labour demand in the short and the long run, labour market equilibrium, competitive and non-competitive labour markets, compensating wage differentials, human capital, the wage structure, labor mobility, discrimination, microeconomic trade union models, labour market contracts and work incentives, efficiency wages, unemployment.

Completion methods

Book exam: Academic year

Assessment details

Accepted completion of the designated assignments. The assessment criteria of the course is specified in the study program annually.

Learning outcomes

At the end of the course the student is expected to be able to:
• illustrate factors affecting labour supply and demand
• analyse factors behind the wage structure and wage differentials
• interpret and apply the human capital theories
• analyse the behaviour of job searchers and employers in the market with imperfect information
• illustrate different kinds of wage policies and labour market contracts
• explain functioning of the labour market on the basis of insider-outsider theory
• explain differences in policies aimed at reducing different types of unemployment (seasonal, frictional, structural and cyclical unemployment)

Additional information

Opintojakso suoritetaan Avoimessa yliopistossa

Description of prerequisites

KTTP1110 Basics of Economics, KTTA1210 Mathematical Economics, or equivalent

Study materials

Muu kurssilla mahdollisesti ilmoitettava materiaali.


  • Borjas, G. J. 2013. Labor Economics. 6th edition (international edition). New York : McGraw-Hill.; ISBN: 978-0-07-132620-9

Completion methods

These completion methods are for University of Jyväskylä degree students. Other options:

Method 1

Select all marked parts
Parts of the completion methods

Teaching (5 cr)

Participation in teaching
Grading scale:
English, Finnish
No published teaching