HUMAN RESOURCE ECONOMICS
Economics 487/587
Monday, 5:30-8:15 PM
Rm. 404 Royall Hall
Instructor: Dr. John Ward, Rm. 211 Haag Hall, telep.235-1309. Please note that I will not be at your first two classes because of knee surgery. Professor Gene Wagner and Kurt Krueger will teach these classes. I will provide you with work sheets covering lectures for these classes.
E-Mail: Wardjo@umkc.edu.
Web Page: - http://cas.umkc.edu/econ/
Fax: 913-648-5740
Text
Gary S. Becker, Human Capital, 3rd. edition, Chicago, University of Chicago Press, 1992
Roo-Pack
Lester C. Thurow, Investment in Human Capital, Wadsworth, 1970.
Chapt. 1. Introduction
Chapt. 2. The Definition and Measurement of Human Capital
Chapt. 3. The Price of Human Capital
Chapt. 4. The Production of Human Capital
Chapt. 5. Individual Investment Decisions
Haveman and Wolfe, "The Determinants of Children’s Attainments: A Review of Methods and Findings" , Journal of Economic Literature, V. XXXIII, Dec., 1995, pp. 1829-1878
Calculator
You will be expected to have a good quality business calculator, capable of performing present value calculations. A HP 12 C or a TI would be excellent, but any other calculator with business functions will work. Practice with the calculator before class.
Other Readings
Other readings will be assigned on a weekly basis.
I will provide copies of some articles and materials from the United Nations on Human Capital Development. You will be responsible for copying some class material.
Important Dates
August 20 - classes start
September 3- Closed, labor day
September 17- Last day for 50% fee refund
October 12 – Last day to officially withdraw without assessment
December 7- Last day of classes
December 10- Final Exam
Missed Classes, Tests, Papers, and Makeup’s
I do not take class attendance but class participation will count in your grade.
There will be two short essay tests during the term, two take home problems, a term paper (8 pages) and a final exam. Short Essay tests will be worth 50 points each, take home problems will be worth 20 points each, the term paper will be worth 50 points and the final will be worth 75 points. Total points are 265 and your grade will be determined by a class curve. Class participation will be considered in rounding up grades.
All makeups will be given at a time determined by the instructor.
Organization of Material
Week One
Course Introduction, Outline, and Requirements
Course Outline, Movie, The GI Bill
Week Two – Section One
The Economic Approach to Human Behavior and Alternative Views : An Introduction
Thurow – Chapter 1, Becker- Chapters 1 & 2, Human Capital Measurement, Problem Work Sheets
Week Three- Section Two
Problems of Measurement
Thurow- Chapter two, Becker Chapter 3 , Guest lecture on Forensic Economics. Home paper assigned.
Week Four – Section Three
Problems of Measurement and the Theory of Labor
Thurow – Chapter three
and four.Becker – Chapter four
Handouts and review of Home paper assignment
Week Five – Section Four
Time Use and Allocation – Rates of Return and Investment
Value of Life Literature
Dollar Value of a Day
Thurow- Chapter five
Essay Test One
Week Six – Section Five
Education – Empirical Studies
Becker – Chapter 5, 6 and 7
Assigned Readings
Week Seven and Eight- Section Six
Families and Children – Human Capital Investment
Haveman, The Determinants of Children’s Attainments
Becker – Chapter 10
Ward – Readings
Home Paper Assigned
Week Nine and Ten –Section Seven
Back To the Labor Market
Topics in Labor market participation, Discrimination, Unemployment, Minorities, Women and Labor Market Structure Trends,
Work Life, Worktime & Mobility.Labor Force Participation and Unemployment
Shifting Composition of Employment
Work and Welfare
Combating Discrimination in Employment
Second Essay Test
Week Eleven and Twelve – Section Eight
Human Capital in the Third World
Assigned Readings and Guest Lectures
Discussion of Term Papers
Week Thirteen and Fourteen – Section Eight
Term Paper Presentations and Guest Lecturers
Final Exam and Make-up Week
Term Paper Topics – some examples
The Patient Bill of Rights – costs, benefits and Human Capital Investment
Health Care reform
Higher Education: A Comparison of American and European Models
What is wrong with the Kansas City School District?
Head Start: a Success?
Pell Grant Programs: Costs/Benefits
World Hunger and Human Capital Investment
Changes in Labor Force Participation and Women
The Impact of Education on the earnings of Women and Minorities
The ‘Temporary" Labor Force: Its Growth and Direction for the Future
The Value of Life: Economic and social determinants
The Changing Composition of Time Allocation in the American Family: Work, Services and Leisure
The paper for undergraduates should be a minimum of eight pages, double-spaced and typed. It should be fully documented with a bibliography and reference section. The paper is due the week prior to Thanksgiving. Graduate students will do a 15-page paper.