ECON 422 - Personnel Economics
Section: 001
Term: FA 2018
Subject: Economics (ECON)
Department: LSA Economics
Waitlist Capacity:
Enforced Prerequisites:
ECON 401 with a grade of at least C-; or Graduate standing.
May not be repeated for credit.
Rackham Information:
Rackham credit requires additional work.
Primary Instructor:

This course is organized around topics in "personnel economics." Important themes include:

  • features of the labor contract, and the incentives that these contracts provide to firms as well as to workers;
  • the need for firms to learn about workers (and the incentives this sometimes provides to include workers to "reveal" what they know about themselves);
  • the interplay between productivity and pay over a worker's career;
  • decisions by workers and by firms to initiate and to terminate the employment relationship.

Along the way, we will touch on a number of interesting policy issues such as:

  • how the financing of unemployment benefits can affect layoffs;
  • stock options for managers and workers;
  • pensions and retirement decisions;
  • providing incentives for public school teachers;
  • recruiting and retention in the military.

Course Requirements:

Homework problems are distributed every other week, with answers provided. Grades are based on two midterms and a final, each of which includes a mix of true/false questions, multiple choice, and “show me the work” problems.

Class Format:

The course is lecture-oriented, with questions and comments welcomed. I do NOT use or distribute powerpoint slides.

ECON 422 - Personnel Economics
Schedule Listing
001 (LEC)
MW 8:30AM - 10:00AM
NOTE: Data maintained by department in Wolverine Access. If no textbooks are listed below, check with the department.

I have listed both the paper and electronic versions. They are alternatives - you need only one
ISBN: 9781118206720
Personnel economics in practice., Publisher: John Wiley & Sons Inc 03 2014
ISBN: 9781118918760
Personnel Economics in Practice, Author: Edward P. Lazear and Mike Gibbs, Publisher: Wiley 3RD
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