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Магистратура 2019/2020

Экономика персонала

Статус: Курс по выбору (Прикладная экономика)
Направление: 38.04.01. Экономика
Когда читается: 1-й курс, 4 модуль
Формат изучения: Full time
Прогр. обучения: Прикладная экономика
Язык: английский
Кредиты: 3

Course Syllabus


Purpose of the course is to introduce main concepts and research ideas in the area of personnel economics, as well as to discuss theoretical and empirical methods applied in this field of economics. Personnel economics studies various aspects of the relationship between employer and employees. The topics discussed during the course include employee motivation, incentive contracts, career incentives, problems of searching, hiring and firing the employees, internal labor markets, structure of compensation, employee training, human resource management practices. Personnel economics is a dynamic area of modern economics. It combines ideas and methods from a number of fields, including labor economics, contract theory, micro-econometrics, behavioral and experimental economics. We will be using a couple of textbooks but the course material is based primarily on recent research papers published in leading economics journals.
Learning Objectives

Learning Objectives

  • formulate and discuss main concepts in personnel economics
  • analyse modern empirical methods used in the academic literature in personnel economics (insider econometrics, methods using matched employer-employee data, economic experiments)
  • apply concepts and methods from personnel economics in their own research work
Expected Learning Outcomes

Expected Learning Outcomes

  • Formulates theoretical foundations of personnel economics. Applies contract theory methods to the analysis of employer-employee relations.
  • Formulates problem of measuring worker’s productivity. Compares different types of incentive contracts. Discusses negative effects of incentive contracts and alternatives to incentive contracts.
  • Formulates main theoretical approaches to the problems of search, hiring and firing of workers. Explains the theory and applications of Insider labor markets.
  • Analyses determinants and structure of employee compensation. Compares different types of non-monetary compensation and explains reasons for their provision.
  • Explains the concept of human capital investments. Compares diffferent types of employee training. Analyses cross-country differences in employee training.
  • Compares different types of organizational structure of a firm. Analyses variety of human resource management practices in firms and thier effects on employee productivity.
Course Contents

Course Contents

  • Problems of contractual relations between employee and employer
    Introduction. Theoretical foundations of personnel economics. Contract theory in application to employer-employee relations.
  • Incentive contracts
    Problem of measuring worker’s productivity. Different types of incentive contracts. Career incentives. Alternatives to incentive contracts.
  • Search, hiring and firing of workers
    Search, hiring and firing of workers. Employee turnover. Insider labor markets.
  • Employee compensation
    Determinants and structure of employee compensation. Non-monetary compensation.
  • Employee training
    Employee human capital investments and training. Cross-country differences in employee training.
  • Organization of work and human resource management
    Organizational structure of a firm. Organization of work and HRM practices in firms.
Assessment Elements

Assessment Elements

  • non-blocking test
  • non-blocking essay
  • non-blocking presentation
  • non-blocking final test
Interim Assessment

Interim Assessment

  • Interim assessment (4 module)
    0.2 * essay + 0.5 * final test + 0.1 * presentation + 0.2 * test


Recommended Core Bibliography

  • Acemoglu, D., & Pischke, J.-S. (1998). Why Do Firms Train? Theory and Evidence. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.6FBBFC4
  • Acemoglu, D., & Pischke, J.-S. (1999). The structure of wages and investment in general training. Journal of Political Economy, 107(3), 539. https://doi.org/10.1086/250071
  • Baker, G., Gibbs, M., & Holmstrom, B. (1994). The Internal Economics of the Firm: Evidence from Personnel Data. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.ADAEB47D
  • Kathryn Shaw. (2003). Beyond Incentive Pay: Insiders’ Estimates of the Value of Complementary Human Resource Management Practices. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.E991C886
  • Labor economics, Cahuc P., Zylberberg A., 2004
  • Lazear, E. P. (1995). Personnel Economics. Cambridge, Mass: The MIT Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=nlebk&AN=1335
  • Luis Garicano. (2000). Hierarchies and the Organization of Knowledge in Production. Journal of Political Economy, (5), 874. https://doi.org/10.1086/317671
  • Nicholas Bloom, & John Van Reenen. (2010). Human Resource Management and Productivity. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.8A0E087D
  • Oyer, P., & Schaefer, S. (2011). Personnel Economics: Hiring and Incentives. Handbook of Labor Economics, 1769. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.h.eee.labchp.5.20
  • Personnel economics in practice, Lazear E. P., Gibbs M., 2009

Recommended Additional Bibliography

  • Baker, G., Gibbs, M., & Holmstrom, B. (1994). The Wage Policy of a Firm. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.568336C0
  • Bassanini, A., Booth, A., Brunello, G., De Paola, M., & Leuven, E. (2015). Workplace Training in Europe. Australia, Australia/Oceania: Oxford University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.606CE547
  • Canice Prendergast. (1999). The provision of incentives in firms. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.9B3A09C0
  • Edward P. Lazear, & Kathryn L. Shaw. (2007). Personnel Economics: The Economist’s View of Human Resources. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.C7133C81
  • Edward P. Lazear, & Kathryn L. Shaw. (2009). The Structure of Wages: An International Comparison. National Bureau of Economic Research, Inc. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.nbr.nberbk.laze08.1
  • Edward P. Lazear, & Paul Oyer. (2012). Personnel Economics. Introductory Chapters. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.h.pup.chapts.9889.12
  • George Baker. (2000). The Use of Performance Measures in Incentive Contracting. American Economic Review, (2), 415. https://doi.org/10.1257/aer.90.2.415
  • Handbook of labor economics. Vol.3C: ., Ashenfelter O., 1999
  • Ichniowski, C., Shaw, K., & Prennushi, G. (1997). The Effects of Human Resource Management Practices on Productivity: A Study of Steel Finishing Lines. American Economic Review, (3), 291. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.a.aea.aecrev.v87y1997i3p291.313
  • Lazear, E. P., & Oyer, P. (2004). Internal and external labor markets: a personnel economics approach. Labour Economics, (5), 527. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.a.eee.labeco.v11y2004i5p527.554
  • Loewenstein, M. A., & Spletzer, J. R. (1998). Dividing the Costs and Returns to General Training. Journal of Labor Economics, (1), 142. https://doi.org/10.1086/209885
  • Oyer, P. (2004). Salary or Benefits? Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.4B7F63D6