Labour Economics
LABOUR ECONOMICS
Q2.Define “Labour Economics”. Explain the nature and scopeof Labour Economics. Explain the characteristics of Labour?
Ans: -Labour Economics:-
“Labour Economics may be defined as a study of theorganization, institutions and behavior of the labour market in anindustrising or industrial economy”.
According to Dole Yoder:-
“Labour economics or manpower economics is primarilyconcerned with efficient utilization and conservation of manpower and resources. It studies and seeks to understand theprocesses by which manpower is applied and utilized in modernsociety. It is concerned of natural resources in the land”.
Scope of Labour Economics:-
Labour economics has to deal with may be stated as manpowerplanning, labour organization, labour relations and public policywage and employment theory, collective bargaining theory andpractice of social security and welfare etc.
According to Dr. G.P.Sinha, the following areas of study may belisted to fall under the preview of labour economics:-
I.Institutional framework of the particular economic system.
II.Size and composition of the labour force and labour market.
III.Labour as a factor of production- productivity and efficiencycondition of work-industrial relation standard of living
IV.Labour’s risk and problems.
V.Trade unionism
VI.Labour’s status and position in society
VII.Labour legislation.
Another different area of labour economics are:-
I.Advance theory of labour economics
II.Labour laws
III.Principles of personnel management and job evaluation
IV.Principle and practice of labour welfare
V.Theory and practice of trade union management.
Nature of Labour Economics:-
Labour economics is in the process of development, its definitiontends to vary and change according to the nature of theeconomy and is supposed to indicate the criteria for delimitingits scope and enumerating and classifying the problems.I.The theoretical sectionII.The institutional section
A.The Theoretical Section:- The theoretical section
Q2.Define “Labour Economics”. Explain the nature and scopeof Labour Economics. Explain the characteristics of Labour?
Ans: -Labour Economics:-
“Labour Economics may be defined as a study of theorganization, institutions and behavior of the labour market in anindustrising or industrial economy”.
According to Dole Yoder:-
“Labour economics or manpower economics is primarilyconcerned with efficient utilization and conservation of manpower and resources. It studies and seeks to understand theprocesses by which manpower is applied and utilized in modernsociety. It is concerned of natural resources in the land”.
Scope of Labour Economics:-
Labour economics has to deal with may be stated as manpowerplanning, labour organization, labour relations and public policywage and employment theory, collective bargaining theory andpractice of social security and welfare etc.
According to Dr. G.P.Sinha, the following areas of study may belisted to fall under the preview of labour economics:-
I.Institutional framework of the particular economic system.
II.Size and composition of the labour force and labour market.
III.Labour as a factor of production- productivity and efficiencycondition of work-industrial relation standard of living
IV.Labour’s risk and problems.
V.Trade unionism
VI.Labour’s status and position in society
VII.Labour legislation.
Another different area of labour economics are:-
I.Advance theory of labour economics
II.Labour laws
III.Principles of personnel management and job evaluation
IV.Principle and practice of labour welfare
V.Theory and practice of trade union management.
Nature of Labour Economics:-
Labour economics is in the process of development, its definitiontends to vary and change according to the nature of theeconomy and is supposed to indicate the criteria for delimitingits scope and enumerating and classifying the problems.I.The theoretical sectionII.The institutional section
A.The Theoretical Section:- The theoretical section