IRE244H1 Lecture Notes - Lecture 1: Frictional Unemployment, Takers

• School: UTSG
• Department: Employment Relations, Centre for Industrial Relations and Human Resources
• Course: IRE244H1
• Professor: Frank Reid

Document Summary

At uoft we generally use both industrial relations (ir) and employment relations (er) to mean a broad study of the employment relationship in both union and non-union environments, but there are differ interpretations: Ir is often used in the narrow sense of labour-management relations at unionized workplaces. Er is sometimes used in a narrow sense to refer to employment issues at non-union workplaces. Jobs in hr/ir field are growing twice as fast as overall employment: hiring, motivating and retaining the right employees is increasing important in a knowledge and service oriented economy. Many (perhaps most( labour markets are not competitive but competitive model is benchmark for comparisons: building blocks for more advanced models. Employers are wage takers: i. e. the wage is set by the market, not by the employer no artificial barriers to entering an occupation. Supply of labour refers to the number of people who want to work in any given occupation.