Assignment
MODULE 3 ASSIGNMENT
Changes in the price of labour will result in both substitution and scale effects that determine what will happen to a firm’s employment of both capital and labour in the long run. Give an example of a production process where you think the substitution effect will most likely dominate the scale effect. In addition, give an example of a production process where you think the scale effect will most likely dominate the substitution effect. Explain your reasoning clearly.
ASSIGNMENT SPECIFICATIONS
You should be able to write no more than 750 words for the whole assignment with Arial 12 point font, conventional margins, and single-spaced.
Assignments must be submitted with APA Format as is established in the course syllabus under APA Format Resources as presented in the APA Sample Paper.
Analysis and Conclusion must reflect the student's own words.
The conclusion must include the student’s point of view rather than what the paper includes.
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PRESCRIBED READINGS
Smith Stephen (2003), Labour Economics, 2nd Edition, Routledge, Taylor and Francis Group.
Junankar (Raja) P.N., (2016), Economics of the Labour Market: Unemployment and the costs of unemployment, Palgrave Macmillan Publishers, Harcourt.
Piros D. Christopher and Pinto E. Jerald, (2013), Economics for Investment Decision Makers: Micro, Macro and International Economics, John Wiley and Sons Inc, Hoboken, New Jersey.
Ehrenberg R.G and Smith R.S (2012), Modern Labour Economics: Theory and Public Policy (11edition), Prentice Hall, New York.
McConnell, Brue & Macpherson, Contemporary Labour Economics, 8th edition, McGraw-Hill, 2009. (Main text)
Mishel, Bernstein & Allegretto, The State of Working America 2006/07, Cornell University Press, 10th ed., 2006. (Selections; paperback)
Paul McNulty, The Origins and Development of Labour Economics, MIT Press, 1984. (Selections; paperback)
SUGGESTED READINGS AND RESOURCES:
Byrns, Ralph. T and Stone Gerald. W (1995), Microeconomics (6th edition), HarperCollins College Publishers, New York.
Cahuc, Pierre and André Zylberberg (2004), Labour Economics, MIT press
Sloman, J (2004), Essentials of Economics (3rd edition), Prentice Hall. London
