ECON 4000
ECONOMICS OF HUMAN RESOURCES
Professor Warren
Detailed Course Syllabus: Fall 2015
The syllabus is a general plan for the course; deviations
announced to the class by the instructor may be necessary.
Office Hours: 11:00 a.m. – 12:00 noon, T/Th and by appointment; Brooks Hall 504
E-Mail: warren@terry.uga.edu
Class Hours: 2:00 p.m. – 3:15 p.m., T/Th, Correll 222
Assessments: Tests – 50%: September 29 and November 5
Team Project – 25%: Executive Summary due November 17
Final Exam – 25%: December 10, 3:30 p.m. – 6:30 p.m., Correll 222
Textbook: Lazear and Gibbs (LG), Personnel Economics in Practice, 3rd edition (2015)
Course Objective: You will learn to apply economic theory to acquire an understanding
of the behavior of workers and firms within the employment relationship and to evaluate
the effects of changes in technology, government policies, and the competitive
environment on this relationship.
I.
INTRODUCTION AND OVERVIEW
LG, pp. v-xvi; 1-2
Aug. 18:
II.
The Economic Approach to Human Resource Economics
HIRING DECISIONS
LG, Ch. 1
Aug. 20:
How Many?
Aug. 25:
Whom?
III.
THE RECRUITMENT PROCESS
LG, Ch. 2
Aug. 27: Adverse Selection: The “Lemons” Problem
Sept. 1:
IV.
Screening and Signaling
INVESTMENT IN HUMAN CAPITAL
LG, Ch. 3
V.
Sept. 3:
Formal Schooling: General Investment
Sept. 8:
On-the-Job Training: General vs. Specific Skills
EMPLOYEE TURNOVER
LG, Ch. 4
Sept. 10: Retention Strategies
Sept. 15: Responding to and Making Outside Offers
Sept. 17: Buyouts: Design and Implementation
Sept. 22: Buyouts: FedEx and American Airlines
Sept. 24
Test Review
Sep. 29: Test #1
VI.
ORGANIZATIONAL ARCHITECTURE
LG, Ch. 5-6
Oct. 1: Flat vs. Hierarchical Organizations
Oct. 3: Organizational Structure: Design and Implementation
VII.
JOB DESIGN
LG, Ch. 7-8
Oct. 8:
Characteristics of Jobs and Tasks
Oct. 13: Teams
Oct. 15: Worker-Owned Firms
VIII. THE STRUCTURE OF COMPENSATION
LG, Ch. 9-12
Oct. 20: The Principal-Agent Problem: Theory
Oct. 22: The Principal-Agent Problem: Evidence and Anomalies
Oct. 27: Tournaments
Oct. 29: Incentive Pay: Safelite Auto Glass
Nov. 3:
Nov. 5:
IX.
Test Review
Test #2
EMPLOYEE BENEFITS
LG, Ch. 13
Nov. 10 Cafeteria Plans and Government Mandates
Nov. 12 Seniority and Pensions
Nov. 17: Team Project Executive Summary Due
X. TEAM PRESENTATIONS
Nov. 17:
Team Presentations
Nov. 19:
Team Presentations
Nov. 23-27:
Dec. 8:
Thanksgiving Break
Dec. 1:
Team Presentations
Dec. 3:
Team Presentations
No Class (MWF schedule)
Dec. 10: Final Exam (3:30 p.m. – 6:30 p.m., Correll 222)
COURSE POLICIES
Attendance: “Students are expected to attend classes regularly. A student who incurs an
excessive number of absences may be withdrawn from a class at the discretion of the
professor.” (http://www.bulletin.uga.edu/bulletin/ind/attendance.html). Attendance may
be taken randomly throughout the semester. Unexcused absences on more than three of
these occasions will be deemed “excessive” for the purpose of this policy.
Examinations: Students are expected to take the tests and the final exam at the scheduled
times listed above. No make-up tests will be administered. If you are absent from a test,
the weight of that test will be added to the weight of the final exam in determining your
course grade. An unexcused absence from the final exam will result in a score of zero on
that exam. There are two valid excuses for an absence from the final exam: (1) the
Office of the Vice-President for Academic Affairs verifies that you have another exam
scheduled for the same time or you have three exams scheduled for the same calendar
day, in which case you must petition in advance to take the exam at another time
(http://www.curriculumsystems.uga.edu/FinalExamConflicts/FinalExamConflicts.html);
(2) the Office of the Vice-President for Student Affairs verifies that you have a family
emergency or personal illness, in which case you must arrange as soon as possible after
the scheduled exam date to take the exam at another time.
Academic Honesty: As a University of Georgia student, you have agreed to abide by the
University’s academic honesty policy, “A Culture of Honesty,” and the Student Honor
Code. All academic work must meet the standards described in “A Culture of Honesty,”
found at www.uga.edu/honesty . Lack of knowledge of the academic honesty policy is
not a justification for a violation of this policy. Questions about how the academic
honesty policy relates to specific course assignments should be directed to the instructor.