Maricopa Community Colleges  ECN202   19956-20086 
Official Course Description: MCCCD Approval: 05/23/95
ECN202 19956-20086 LEC 3 Credit(s) 3 Period(s)
Labor and the American Economy
Factors which shape wages and control labor supply in the labor market. How various factors combine to set wages in a free market economy and government activities affect the American labor market.
Prerequisites: None.
Cross-References: LST202
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MCCCD Official Course Competencies:
 
ECN202   19956-20086 Labor and the American Economy
1. Describe how changing concepts of employment have shaped the structure of the union. (I)
2. Compare and contrast union and management views of collective bargaining. (I)
3. Describe the role of wage theory in the labor market. (II)
4. Describe factors which have the most important impact on labor supply in the firm, the industry, and the community. (III)
5. Describe how monopoly affects the labor market. (III)
6. Compare and contrast marginal productivity with bargaining theory. (III)
7. Explain the effect of unionism on inter and intra industry wage levels. (IV)
8. Describe the various forms of unemployment and the major characteristics of the unemployed. (IV)
9. Identify the key problems of an economy which is dependent upon high employment. (IV)
10. Describe federal and state minimum wage laws and indicate how minimum wages can affect employment. (V)
11. Explain the arguments for shorter workweeks and identify experiments that have shown them to be effective. (V)
12. Describe the Social Security Act (OASDHI), problems that have arisen, and changes in funding arrangements. (VI)
13. Describe unemployment compensation and how it is administered. (VI)
14. Describe worker's compensation and its effects on the marketplace. (VI)
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MCCCD Official Course Outline:
 
ECN202   19956-20086 Labor and the American Economy
    I. Development of the labor market
        A. The evolution of union structure
        B. Changing concepts of employment
        C. Evolution of management techniques
        D. The function of collective bargaining
      II. Theory of the labor market
          A. Models of unionism
          B. Theories of management
          C. Wage theory
          D. The role of wage theory in the labor market
        III. Wage structure
            A. Variations in labor supply
            B. Variations in labor demand
            C. Marginal productivity versus bargaining theory
          IV. Variations in wages and employment
              A. Effects of unionism on wage determination
              B. Wage variation and employment
              C. Productivity, wages, and employment
              D. Unemployment in the economy
              E. Problems of a high-employment economy
            V. Wage and hour controls
                A. State and federal minimum wage laws
                B. Minimum wages versus employment
                C. Purchasing power theory
                D. Proposals for indexing minimum wages
                E. Maximum hour legislation
                F. Experience with shorter workweeks
                G. Flexible hours proposals
              VI. Unemployment, social security, and accidents
                  A. The Social Security Act (OASDHI)
                  B. Problems of the OASDHI system
                  C. Unemployment compensation
                  D. Worker's compensation
                  E. Manpower planning and CETA
                  F. The economic effects of regulation
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