Lecture 7: Applying Consumer Theory: Labor Supply
author: Jonathan Gruber,
Department of Economics, Massachusetts Institute of Technology, MIT
recorded by: Massachusetts Institute of Technology, MIT
published: Dec. 3, 2012, recorded: October 2011, views: 2801
released under terms of: Creative Commons Attribution Non-Commercial Share Alike (CC-BY-NC-SA)
recorded by: Massachusetts Institute of Technology, MIT
published: Dec. 3, 2012, recorded: October 2011, views: 2801
released under terms of: Creative Commons Attribution Non-Commercial Share Alike (CC-BY-NC-SA)
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Description
Along with what to buy, another key decision that we make every day as economic agents is how much to work and how much to relax. The decision about supplying labor can be analyzed with the same tools used to analyze the market for pizza or movies, and we call this the analysis of the labor market. This lecture provides an overview of the economics of the labor market.
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