Labour Markets (22 slides) - includes Marginal Revenue Product of Labour and diagramatically demonstrates how labour is a derived demand and how the firm in a competitive labour market determines how many workers to employ (market wage rate = MRPL / demand curve).
Importantly, also takes students through some of the assumptions behind the model and critiques the model effectively (for example, the assumption that labour is homogeneous and interchangeable).
Tried, tested and developed over 3 years teaching this topic to highly demaning groups of A2 students.
Importantly, also takes students through some of the assumptions behind the model and critiques the model effectively (for example, the assumption that labour is homogeneous and interchangeable).
Tried, tested and developed over 3 years teaching this topic to highly demaning groups of A2 students.
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