............................................2 Structured Antagonism….............................................................................................................2 Government Intervention…..........................................................................................................3 Power…..........................................................................................................................................3 Unfair Dismissal….........................................................................................................................4 The Working Time Directive.........................................................................................................5 The National Minimum Wage Act.................................................................................................6 The Psychological Contract.........................................................................................................7 Conclusion.....................................................................................................................................8 References…..................................................................................................................................9 1 21169290 Introduction “One of the most distinctive features of employment relations…is that it is highly politicised…and cannot be understood without reference to politics” (Williams and Adam-Smith, 2010:82). The...
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...average at least 8% of the gender employment gap and a larger proportion of the gender wage gap can be attributed to discrimination. Virtually all OECD countries have enacted anti-discrimination laws in recent decades, and evaluations as well as cross-country analysis suggest that, if well-designed, these laws can be effective in reducing disparities in labour market outcomes. However, enforcement of antidiscrimination legislation is essentially based on victims’ willingness to claim their rights. Thus, public awareness of legal rules and their expected consequences (notably, victims’ costs and benefits of lodging complaints) is a crucial element of an effective policy strategy to establish a culture of equal treatment. Moreover, legal rules are likely to have more impact if the enforcement is not exclusively dependent on individuals. In this respect, specific agencies may play a key role. 139 3. THE PRICE OF PREJUDICE: LABOUR MARKET DISCRIMINATION ON THE GROUNDS OF GENDER AND ETHNICITY Introduction Employment outcomes are far from being evenly distributed among the various sociodemographic groups. Although women’s rising labour market participation has been a major component in labour supply growth during past decades, their labour market performance still remains significantly worse than that of men, sometimes dramatically so: in certain countries female employment rates and wages are more than 25% lower than those of their male counterparts,...
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...............vii Executive Summary...................................................................................................................................................ix 1. Study Objectives and Methodology ...................................................................................................................... 1 1.1 Objectives ............................................................................................................................................................ 1 1.2 Approach and Methodology .................................................................................................................................. 1 2. Part 1. Human Rights and Economics: Tensions, Synergies, and Ways Forward.................................................... 3 2.1 Putting Human Rights in Perspective...
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..._____________________________________________________________________________________ WEEK 1: HOW ECONOMISTS THINK * What are preferences? Preferences refer to all of the objectives an individual wants to achieve that might motivate a choice among a set of alternatives. * What does it mean for an individual’s preferences to be rational? Please explain the concepts of costs and benefits and the reasoning process used by a rational individual. A rational individual will try to make the best possible use of his/her scarce resources, usually choosing an activity that has the highest utility. Rational preferences possess 2 properties, which are completeness and transitivity. Completeness means that choices can be ranked in an order of preference. For instance, an individual will have a preference when faced with two choices. Transitivity means actions can be compared with other actions. As an example, if action a is preferred to b, and action b is preferred to c, then a is preferred to c. A benefit is the maximum unit of currency amount you would be willing to pay to do x, while the cost is the value of all the resources you must give up in order to do x. The cost-benefit approach to decisions states that an individual should do an activity x if the benefit exceeds the cost. Relating to cost, in the process of coming up with a decision, a rational individual will take into account opportunity costs and ignore sunk costs. * New theories argue that people are not always rational. On...
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...I. Economics a. What is economics Definition: Economics is a social science that deals with human wants and their satisfaction. Ps: It's not a natural science so it's not accurate because it change all the time b. Basic problem * Want are unlimited Resources are limited => scarcity: It's a situation where the demand for resources exceeds the available supply * Solution => Make the better choices to manage resources. Example: I have £50. Which one should I choice between, a white coat (£45), notebook (£25) and a ring (£20). It depends of your priority, need * You have to make sacrifice => opportunity cost: It's the best next alternative that is forgone. The alternative that is forgone is called the opportunity cost of what is produced. Eg. If the UK government chooses to build a school rather than a hospital then the hospital is the opportunity cost. * Resource allocation: Directing resources to the desired areas to produce goods and services that are demand by society. It is to maximise profit and satisfaction. II. 3 fundamentals questions 1. What to produce Goods/ services that are demanded by society 2. How to produce? Cost effective technologies (reduced the cost and not sacrifice the quality) 3. For whom to produce? Target, people who have the purchasing power different groups III. Goods and services Goods: Anything that we can touch (=tangible) Service: Anything that we can’t touch...
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...there are unlimited resources available to fulfill society's limited wants. a.|True| b.|False| ANS: B PTS: 1 DIF: Difficulty: Easy NAT: BUSPROG: Analytic STA: DISC: Scarcity, tradeoffs, and opportunity cost TOP: Scarcity and Individual Choice KEY: Bloom's: Knowledge 2. Economics is the study of choice under conditions of a.|demand| b.|supply| c.|scarcity| d.|opportunity| e.|abundance| ANS: C PTS: 1 DIF: Difficulty: Easy NAT: BUSPROG: Analytic STA: DISC: Scarcity, tradeoffs, and opportunity cost TOP: Scarcity and Individual Choice KEY: Bloom's: Comprehension 3. The study of economics would be superfluous if __________ did not exist. a.|demand| b.|capital| c.|corporations| d.|profit| e.|scarcity| ANS: E PTS: 1 DIF: Difficulty: Moderate NAT: BUSPROG: Analytic STA: DISC: Scarcity, tradeoffs, and opportunity cost TOP: Scarcity and Individual Choice KEY: Bloom's: Comprehension 4. Which of the following disciplines is not a social science? a.|psychology| b.|mathematics| c.|economics| d.|political science| e.|sociology| ANS: B PTS: 1 DIF: Difficulty: Moderate NAT: BUSPROG: Analytic STA: DISC: The Study of economics, and definitions in economics TOP: Scarcity and Individual Choice KEY: Bloom's: Comprehension 5. What does economics have in common with sociology? a.|Economics and sociology ask fundamentally the same questions.| b.|Economics and sociology use the same tools to analyze issues.| c.|Both are social sciences...
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...NOT FOR DISTRIBUTION: USE ONLY IN COMPLIANCE WITH COPYRIGHT: DAVID RISSTROM AN INTERPRETATION OF LAW IN CONTEXT Bottomley, S., Gunningham, N. and Parker, S., 1991, Law in Context, The Federation Press, Leichhardt. { } = additional material from lectures. ( ) = my comments. (See ‘x’) refers to book page number. A short (somewhat boring) message from the summary executioner before you dive in; These notes are an interpretation of the book Law in Context and the lectures given as part of the 1991 Course. They are not a satisfactory substitution for reading the text. You are only likely to get the maximum value out of this summary by reading it in conjunction with the text. The question of ‘the law in whose context’ may be worth keeping in mind as you read. This is an interpretation seen through my eyes, not yours. My comments are not unbiased, as it is as equally unlikely that yours may be. So my ‘advice’ is consider what is said here and in the book considering the need to understand the ‘mechanics’ that help make sense of the more involved themes that develop in the book as you progress through Law in Context. The observations, important in their own right, may be particularly useful for seeing how their often ubiquitous expression is taken as ‘normal’ in the areas of wider society, such as in discussions of economics and power. It is unlikely that you will find any ‘right answers’ from this summary, but I do hope it helps you in synthesising...
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...problem of economics arises when there are unlimited resources available to fulfill society's limited wants. a.|True| b.|False| ANS: B PTS: 1 NAT: Financial theories, analysis, reporting, and markets LOC: Scarcity, tradeoffs, and opportunity cost TOP: Economics | Scarcity and Choice 2. Economics is the study of choice under conditions of a.|demand| b.|supply| c.|scarcity| d.|opportunity| e.|abundance| ANS: C PTS: 1 DIF: 1 NAT: Financial theories, analysis, reporting, and markets LOC: Scarcity, tradeoffs, and opportunity cost TOP: Economics | Scarcity and Choice 3. The study of economics would be superfluous if _____ did not exist. a.|demand| b.|capital| c.|corporations| d.|profit| e.|scarcity| ANS: E PTS: 1 DIF: 2 NAT: Financial theories, analysis, reporting, and markets LOC: Scarcity, tradeoffs, and opportunity cost TOP: Economics | Scarcity and Choice 4. Which of the following disciplines is not a social science? a.|psychology| b.|mathematics| c.|economics| d.|political science| e.|sociology| ANS: B PTS: 1 DIF: 1 NAT: Financial theories, analysis, reporting, and markets LOC: The study of economics, and definitions of economics TOP: Economics | Scarcity and Choice 5. What does economics have in common with sociology? a.|Economics and sociology ask fundamentally the same questions.| b.|Economics and sociology use the same tools to analyze issues.| c.|Both are social sciences.| d.|What and how economists...
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...006. ii CONTENTS Page No 1 Nature and Scope ofEconomics 2 Basic Economic Problems 33 3 Theory of Consumer Behaviour 47 4 Demand and Supply 77 5 Equilibrium Price 103 6 Production 117 7 Cost and Revenue 143 8 Market Structure and Pricing 161 9 Marginal Productivity Theory of Distribution 183 10 Simple Theory oflncome Determination 205 11 229 Monetary Policy 12 Fiscal Policy 247 iii Chapter 1 Nature and Scope of Economics Introduction Economics is a social science which deals with human wants and their satisfaction. It is mainly concerned with the way in which a society chooses to employ its scarce resources which have alternative uses, for the production of goods for present and future consumption. Political economy is another name for economics. “Polis” in Greek means a State. The early writers used the term “Political Economy” for the management of the State. A person who runs a family is expected to make the best use of the income of the household. Similarly, the State is expected to get the maximum benefit for the society. Hence the term “Political Economy”. The existence of human wants is the starting point of all economic activity in the world. Unless we make efforts, we cannot satisfy wants. Hence, wants, efforts and satisfaction form the circle of economics. We may say economics is the science of wants. But in the real world, the means which...
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... Copyright © March, 2015 by Lien Centre for Social Innovation. All rights reserved. Published by the Lien Centre for Social Innovation Singapore Management University, Administration Building, 81 Victoria Street, Singapore 188065 www.lcsi.smu.edu.sg No part nor entirety of this publication may be reproduced or transmitted in any form or by any means, or stored in any retrieval system of any nature without the prior written permission of the Lien Centre. Readers should be aware that internet websites offered as citations and/ or sources for further information may have changed or disappeared between the time this was written and when it was read. Limit of Liability/Disclaimer of Warranty: While the publisher and authors have used their best efforts in preparing this publication, they make no representations and/or warranties with respect to the accuracy and/or completeness of the contents of this publication and specifically disclaim any implied warranties of appropriateness, merchantability and/or fitness for any particular purpose. No warranty (whether expressed and/or implied) is given. The advice and...
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...other people had produced. ( Before reading on, how would you define scarcity? Must goods be at least temporarily unattainable to be scarce? See page 2 of text for a definition of scarcity. Goods need not be unattainable to be scarce. Because people’s incomes are limited, they cannot have everything they want from shops, even though the shops are stocked full. If all items in shops were free, the shelves would soon be emptied! ( If we would all like more money, why does the government not print a lot more? Could it not thereby solve the problem of scarcity ‘at a stroke’? The problem of scarcity is one of a lack of production. Simply printing more money without producing more goods and services will merely lead to inflation. To the extent that firms cannot meet the extra demand (i.e. the extra consumer expenditure) by extra production, they will respond by putting up their prices. Without extra production, consumers will end up unable to buy any more than previously. 5 ( (Box 1.1) What is it that makes each one of the above news items an economics item? Each one of the items has something to do with production, consumption or exchange, and/or the money incomes and expenditures involved. 6 ( Which of the following are macroeconomic issues, which are microeconomic ones and which could be either depending on the context?...
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...ignore the effects of factors outside the workplace on a person's status at work. To seek equality at work without seeking equality in the larger society – and at home – is illusory.Thus an examination of the issues surrounding women, gender and work must be holistic. That means considering the role of productive work in life as a whole and the distribution of unpaid work as well as the myriad questions relating to employment. This important anthology brings together the thinking of leading philosophers, economists and lawyers on this complex subject. Selected recent articles from the multidisciplinary International Labour Review are assembled for the first time to illuminate questions such as how we should define equality, what equal opportunity means and what statistics tell us about differences between men and women at work, how the family confronts globalization and what is the role of law in achieving equality. There is an examination of policy – to deal with sexual harassment and wage inequality, for example, as well as part-time work, the glass ceiling, social security, and much more. A major reference on the best of current research and analysis on gender roles and work. Martha Fetherolf Loutfi has been Editor-in-Chief of the International Labour Review, a Senior Economist for the Brandt Commission and in the ILO’s Employment and Development Department and an associate professor of economics. She has written books and articles on employment, women, energy...
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...relationship * New psychological contract * Organizational culture/climate - Others: * Economic conditions * Technological changes * Government * Globalization Chapter 2 – Changing Legal Emphasis There are 14 jurisdictions, 10 provinces, 3 territories and Canada as a whole for employment laws. - Provincial/territorial employment laws govern 90% of population - Federal employment legislation governs the other 10%. The legal framework for employment also includes constitutional law, particularly the Charter of rights and Freedom; acts of Parliament; common law (wrongful dismissal) and contract law. Regulations: legally binding rules established for the special regulatory bodies (ministry of labour, human rights commission) created to enforce compliance with the law and aid in its interpretation. EMPLOYMENT STANDARD LEGISTLATION Employment (labour) standards legislation: Laws present in every Canadian jurisdiction that establish minimum employee entitlements and set a limit on the maximum number of hours of work permitted per day or week. (Wage, vacation, termination notice, overtime pay..) Equal pay for equal work principle specifies that an employer cannot pay male and female...
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...Instructor’s Manual to accompany Economics Sixteenth Edition Campbell R. McConnell University of Nebraska Stanley L. Brue Pacific Lutheran University Prepared by Randy Grant Linfield College Instructor’s Manual to accompany ECONOMICS Campbell R. McConnell and Stanley L. Brue Published by McGraw-Hill, an imprint of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright 2005 by The McGraw-Hill Companies, Inc. All rights reserved. The contents, or parts thereof, may be reproduced in print form solely for classroom use with ECONOMICS provided such reproductions bear copyright notice, but may not be reproduced in any other form or for any other purpose without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. 1 2 3 4 5 6 7 8 9 0 Text printer code/Cover printer code 0 9 8 7 6 5 4 ISBN 0-07-288477-0 www.mhhe.com The Nature and Method of Economics CHAPTER ONE THE NATURE AND METHOD OF ECONOMICS CHAPTER OVERVIEW This chapter begins with a discussion of the meaning and importance of economics. In this first chapter, however, we will not plunge into problems and issues; instead we consider some important preliminaries. We first look at the economic perspective—how economists think about problems. Next, we state some of the benefits of studying economics. Then, we examine the specific...
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...Regional intergration List of acronyms AERC African Economic Research Consortium ASEAN Association of Southeast Asian Nations AU African Union AUC African Union Commission CBI Cross Border Initiative CEPGL Economic Community of the Great Lakes (Communauté Economique des Pays des Grand Lacs) CET Common External Tariff CHE Commission for Higher Education (Kenya) CIEREA Conference of Economics Research and Training Institutions in Francophone Africa CIRES Ivorian Centre for Social and Economic Research CM Common Market COMESA Common Market for Eastern and Southern Africa COBET Complementary Basic Education in Tanzania CODESRIA Council for the Development of Social Science Research in Africa COMESA Common Market for Eastern and Southern Africa CPI Consumer Price Index CRE Christian Religious Education CSAE Centre for the Study of African Economies, University of Oxford CSO Civil Society Organization CU Customs Union EA East Africa EACSCO East African Common Services Organization EABC East African Business Council EAC East African Community EADB East African Development Bank EAHC East African High Commission EARISC East Africa Regional Integration and Scientific Cooperation ECCAS Economic Community of Central African States ECDE Early Childhood Development Education ECOWAS Economic Community of West African States EPA Economic Partnership Agreement EAPF East African Political Federation EPZ ...
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