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Introduction of Labour Economics

Labour economics is the study of the functioning and dynamics of the market for labour. Labour markets function through the interaction of employers and workers. Labour economics concerns at the suppliers of labour services, attempts to understand the resulting pattern of wages, income and employment and the demanders of labour services. In economics, labour is termed as a measure of the work done by human beings. labour is conventionally contrasted with such other factors of production as capital and land.

The study of labour economics involves the study of labor supply and the allocation of time, facts about labour supply, neoclassical theory, policy applications, empirical aspects of labour supply, education & human capital, theory of human capital, model to estimate, immigration economics, race and gender in the labor market, theories of marked discrimination, empirical approach: direct & indirect evidence.Determination of demand for labour and wages, labour market, macroeconomics labour market, microeconomics labour market, consumer theory, labour power, labour market flexibility, employment, beveridge curve, Wages, conditional factors demands and etc.