HRM844 - Labour Economics

Outline info
Last revision date 2018-07-20 13:36:46.494
Last review date 2018-07-20 13:36:52.342

Subject Title
Labour Economics

Subject Description
This subject is designed to provide human resources students with an overview of basic economic concepts and principles and their applications in the field of Canadian labour markets. For this purpose, the first part of the subject introduces students to the standard economic theory of labour supply and demand, whereas the second part looks at issues of particular importance to the Canadian labour scene. Through a variety of teaching methods the subject will demonstrate the relevance of labour economics in the field of human resources management.

Credit Status
One full credit.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Demonstrate knowledge of labour supply and demand and labour market behaviour under diverse market structures.

2. Explain the income-leisure choice theory and the household production functions and their applications to fertility and other determinants of labour supply.

3. Describe the elements of human capital theory and its applications in the field of education, training, and job search.

4. Identify the impact of wage structures, union behaviour, immigration, inflation, free trade and globalization on employment patterns and Canadian business.

5. Compare and contrast various labour market structures and explain their impact on human resources management.

6. Explain the demand for labour under various market structures, including perfect competition, monopsony, monopsonistic competition, and oligopsony.

7. Describe and apply the factors that influence the demand for labour, as well as those which affect the elasticity of demand for labour.

8. Identify the different types of unemployment that exist in our economy, together with the policies that are being used to deal with unemployment.

9. Understand the importance of immigration for the Canadian economy, including the policy environment, and the experience and impact of immigrants on the labour market.

10. Explain the growth and role of unions in Canada, including the factors that determine the level of unionization in the labour market.

Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.

To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on for further information regarding cheating and plagiarism policies and procedures.

All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.


However, it is recommended that students begin their studies with HRM 701, Introduction to Human Resources Management, if they plan to pursue the Human Resources Management Graduate Certificate.  Prior knowledge of micro and macro economics is advantageous.

Topic Outline

  • Introduction to Economics
    • the economizing problem 
    • the macro/micro distinction 
    • supply and demand
  • The Labour Market
    • labour supply 
    • labour demand
  • The Micro Economic Perspective
    • unions 
    • price elasticity 
    • non union markets
    • pricing and production costs
  • The Macro Economics Perspective
    • employment 
    • fiscal policy
    • labour legislation 

Mode of Instruction
This course is delivered online. This may involve the use of digital materials and/or a text, group discussions, interaction with your instructor and online activities. 

Prescribed Texts

No Textbook Requiered for Online Delivery.

Reference Material

Required Supplies

Promotion Policy

Grading Policy
A+ 90%  to  100%
A 80%  to  89%
B+ 75%  to  79%
B 70%  to  74%
C+ 65%  to  69%
C 60%  to  64%
D+ 55%  to  59%
D 50%  to  54%
F 0%    to  49% (Not a Pass)
EXC Excellent
SAT Satisfactory
UNSAT Unsatisfactory

For further information, see a copy of the Academic Policy, available online ( or at Seneca's Registrar's Offices.

Modes of Evaluation
Assignments are due on the dates specified. Should extenuating circumstances arise, please contact your instructor immediately, prior to when your assignment is due, so an appropriate course of action can be established. Late assignments may be subject to a penalty of up to 10% per week and will not generally be accepted beyond two weeks after the assignment due date.

In cases of cheating or plagiarism, the College Academic Policy will prevail.  Please ensure that all assignments and reports are properly documented.

Students are referred to the following web site for the Seneca College Library MLA Style Guides, Academic Honesty Policy and Copyright guidelines:  


Dates for evaluations are specified in the weekly schedule addendum to this outline. The evaluation process may include, but is not limited to, tests, exams, assignments or presentations. Any absences or missed submissions due to medical or other reasons must be supported by medical or other appropriate documentation within one (1) week of the due date. The faculty and program area must be notified immediately in the even of a missed evaluation. Upon acceptance of the documentation, the weighting of the missed deliverable will normally be applied to the final exam.

English Competency:

The ability to communicate effectively is essential for success in business. Therefore, you must demonstrate English competency in this course in both oral and written work. Ensure your written work includes correct sentence structure, spelling and punctuation. Always spell check, edit and proofread your work.

Grading is based on the following marking scheme:

Group Assignment (Mandatory) - 10%
Quizzes - 30%
2 Individual Assignments - 30%
Final Exam In-person Online exam - 30%

** Final Exams: The final exam for online courses must be written at the Test Centre of the College at which you registered. If you are unable to do so, please make alternative arrangements through the College at which you registered. All the academic policies of the College at which you registered apply. This includes, but is not limited to, policies related to grading, supplemental exams, deferred exams and accommodations.

Please retain this course outline document for future educational and/or employment use.

Academic Program Manager:
Emiliano Introcaso

Approved by: Academic Program Manager Emiliano Introcaso