Homework: Wage Differentials

Explain why a television journalist working on the BBC’s Newsnight current-affairs programme would usually be paid a much higher wage rate than a reporter on a local newspaper. (15 marks)

Due Weds 1st Feb

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Labour Market: Interesting articles

There is so much in the media about the labour market it can be hard to keep up. Here are some interesting articles that relate the theory discussed in lessons to real life.

Lack of skills and impact on wages

http://www.theguardian.com/business/2015/apr/10/lack-skilled-workers-driving-salaries

http://www.bbc.co.uk/news/business-34297368

Gender gaps 

http://www.theguardian.com/commentisfree/2015/mar/06/women-doctors-are-underpaid-and-undervalued-and-its-not-a-mystery-why

http://www.theguardian.com/world/2015/nov/09/gender-pay-gap-women-working-free-until-end-of-year

http://www.thedailybeast.com/articles/2014/02/01/no-women-don-t-make-less-money-than-men.html

http://www.theguardian.com/lifeandstyle/2016/feb/20/katie-roiphe-why-paid-less-than-male-colleagues?CMP=oth_b-aplnews_d-2

Tackling the gender pay gap

http://www.bbc.co.uk/news/uk-politics-33515629

http://www.theguardian.com/women-in-leadership/2016/mar/15/mums-are-formidable-in-the-workplace-we-need-to-hire-more?

Discrimination and Wage Differentials

wagedisc

This is a common theme in ECON3 exams – and rightly so.

How far do economic theories help to explain the differences in pay between genders and ethnic backgrounds?

This BBC article is an interesting starting point. Read it and use a diagram to illustrate the wage differential it describes.

Further info about imperfections in the labour market can be found here. Also, it’s worth checking you understand some of the key legislation relating to labour markets.