Labor Market Analysis Assignment Help ESSAY

Labor Market Analysis Assignment Help

Directions: Answer all questions. Be sure your answers are complete and well written. Show your work in all calculations. You are permitted to use your text and any other reference materials you choose
1. (36 points) Read the article “Americans Losing Faith in College Degrees, Poll Finds” which is the next file in this Canvas module. Answer the following questions.

a. (6 points) The article reports poll results pertaining to investment in higher education. What proportion of college grads say college is “worth it” what proportion say it is not. How do these poll results compare to all respondents? What proportion of all respondents say college is “worth it” what proportion say it is not. Why has the percentage of Americans who believe that college is worth its cost fallen?

b. (6 points) What proportion of women say college is “worth it” what proportion say it is not. How has this changed for women since 2013? How do these poll results compare to men? What proportion of men say college is “worth it” what proportion say it is not. Given the work-life cycle of “traditional” women and a gender pay gap of around 13 percent explain why it is rational for more women to invest in human capital than men.

c. (6 points) What is the human capital view of investment in education? Write out the Present Value of Net Benefits formula and use it in answering the following questions.

d. (6 points) Graph your Age-Earnings Profile with and without a College Education. The numbers on the graph should be your best estimate of costs and future net benefits for you.

e. (6 points) Enter your annual estimate of costs and future net benefits into the Present Value of Net Benefits formula. Based on this formula is a college education “worth it” for you? Extra Credit (up to 5 points): Use an interest rate of .07 (7 percent) and calculate the present value of your investment in education. Based on these calculations is a college education “worth it” for you?

f. (6 points) Should all people attend college? If so, why? If not, which people should attend? When selecting college majors, should students take into account discounted lifetime earnings associated with various majors?

2. a. (6 points) Are labor unions obsolete? Explain why 30 percent of the civilian labor force was unionized in the 1950’s but by 2015 around 10 percent of civilian workers were unionized and less than 8 percent of workers in the private sector were unionized. Over the same period the proportion of unionized public sector workers increased from very low levels to over 35 percent. Explain why?

b. (6 points) Evidence suggests that firms that sell their products in less competitive product markets are more likely to unionize than firms selling in highly competitive markets-give examples illustrating this. Is the own-wage elasticity of demand higher or lower for firms selling in more competitive product markets? Explain Why?

c. (6 points) Using Hick’s bargaining model explain in general terms how the general length of a strike can be determined. In your graph show the Employer’s Resistance Curve and Union Concession Curve. Is it rationale for unions to go out on strike? Why not just settle prior to a strike at the wage given in Hick’s solution?

d. (6 points) Use Hick’s model to explain how it was possible for the National Hockey League Player’s Association (union) and the National Hockey League owners to have a work stoppage that lasted for an entire year (with no games played) without agreement. And then settle the following year for a contract with larger salary reductions for players and a lower salary cap than was offered by owners the previous year.

3. a. (6 points) Describe an immigration policy that you would recommend to your U. S. Congressional Representatives. Support your policy prescriptions with solid economic reasoning.

b. (8 points) Analyze the impact of increased illegal immigration on both skilled and unskilled U.S. labor markets assuming that these immigrants are only unskilled workers, and that unskilled and skilled workers are gross complements. Explain your reasoning carefully and show your results in a supply-demand graph for both skilled and unskilled labor markets.

c. (6 points) The Wall Street Journal states, “many low-skilled jobs in the U.S. are virtually impossible to staff without immigrant labor.” This seems like a rather odd denunciation of labor markets (especially for a pro “free market” publication). If market forces are operating analyze what happens if there is a shortage of unskilled labor. Show your result in a supply-demand graph. How do countries such as Switzerland fill these low-skill jobs with relatively few immigrant workers?

d. (6 points) If President Obama’s proposal to grant quasi-legal status to the 10 to 12 million undocumented immigrants that are currently in the U.S. were enacted, what economic impact would this have on Gross Domestic Product, unskilled and skilled labor markets, future immigration, the cost of “safety net” government programs like Social Security and Medicare? Do you support the president’s proposal? Why?

4. a. (7 points) A study by Blau, Ferber, and Winkler in 1988 estimated that women in their sample earned only $.72 for every $1 earned by men (women in the sample earned 72 percent as much as men). Using principles of compensating wage differentials identify at least 3 factors that may explain at least part of the female-male pay gap. Explain your reasoning carefully.

b. (7 points) In 2015 the gender pay gap was around $.83 for every $1 earned by men (women in the sample earned 83 percent as much as men. Why has this pay gap has narrowed over this period of time. Identify “productivity” factors that may explain part of this pay gap. How much of this gender pay gap is a result of gender discrimination? Explain.

Labor Market Analysis Assignment Help ESSAY

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