Human Capital and Labor Markets Video Series and Quiz

Time: 30 mins,

Updated: March 5 2020,

Author: Marginal Revolution University

Teacher Version

Objective Standards Summary Description

Objective

Students will be able to:

Apply supply and demand analysis to how the marginal product of labor determines wages, human capital, labor unions, and compensating wage differentials.

Standards

State Standards

Concepts

Earned Income, Employment and Unemployment, Human Capital

Open Video

In this economics video series, students will learn about employment, unemployment, and human capitol.

Description

This unit of five videos begins with an explanation of the marginal product of labor and how it determines wages. This serves as the foundation for an overview of related topics, such as human capital, labor unions, compensating wage differentials, and, of course, TANSTAAFL: There Ain’t No Such Thing as a Free Lunch. Every video comes with practice questions!

Subjects:

Economics