ILO:
a) Diagrammatic analysis of labour market equilibrium
b) Understanding of current labour market issues
c) Government intervention in the labour market:
o maximum and minimum wages
o public sector wage setting
o policies to tackle labour market immobility
d) The significance of the elasticity of demand for labour and the elasticity of supply of labour
a) Diagrammatic analysis of labour market equilibrium
b) Understanding of current labour market issues
c) Government intervention in the labour market:
o maximum and minimum wages
o public sector wage setting
o policies to tackle labour market immobility
d) The significance of the elasticity of demand for labour and the elasticity of supply of labour
Diagrammatic analysis of labour market equilibrium
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Explain one factor which influences the wage of a deliveroo rider. (5 marks)
The Deliveroo riders who are earning less than minimum wage | ITV News
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Examine two reasons why footballers get paid so much
(8 marks)
Why are footballers paid so much?
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Revision videos on wage differentials:
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Causes of Pay (Wage) Differentials
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Wage Differentials - Advantages and Disadvantages with Evaluation
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NMW
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Assess the economic impact of the living wage on households, firms and the Government. (15 marks)
The minimum wage: does it hurt workers? | The Economist
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Revision video on NMW & living wage:
Additional reading:
UK national living wage |
Maximum wage
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Assess how the premier league benefits from the absence of a maximum wage. (10 marks)
The Maximum Wage: How Football Changed Forever
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Assess how a maximum wage could increase efficiency. (10 marks)
Should We Have A Maximum Wage? | Think | NBC News
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Additional reading:
Examples of salary caps in sports
Are Salary Caps for Professional Athletes Fair?
Examples of salary caps in sports
Are Salary Caps for Professional Athletes Fair?
Public sector wage setting
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Explain why public sector workers are often under paid compared to the importance of their job. (5 marks)
Rutger Bregman: Why bin men (and women) should be paid more than bankers | BBC Ideas
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Examine two ways Government could overcome shortages in teaching. (8 marks)
Teach First – Life changing
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Monopsony buyer revision video:
Monopsony in the Labour Market I A Level and IB Economics
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Mark scheme for Government intervention in teaching:
> Government is a non-profit organisation, therefore may not operate where MCL=MRP > Advertising of non-pecuniary benefits to increase supply and make WES more elastic. > Separate the firms to be individuals via academies > Increase non-pecuniary advantages i.e holidays > Delayed pecuniary advantages i.e. average salary pension > Bi-lateral market. > Impact of the NMW/NLW on the equilibrium |
Current Labour Market Issues
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Examine two economic factors that contribute to the gender pay gap. (8 marks)
Why are women paid less than men? | The Economist
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Assess the drawbacks of youth unemployment.
(10 marks)
UK’s youth unemployment is highest in 40 years
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Examine two impacts of an aging labour force on firms. (8 marks)
High performance: how Porsche is future-proofing its ageing workforce
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Assess the impact of the change in Uber contract entitlement. (10 marks)
Landmark ruling says Uber drivers are employees with right to minimum wage and sick pay - BBC News
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Revising Strategy
2019 exam question:
In July 2017 it was announced that only a third of the BBC’s 96 top earning presenters were women and that its seven highest-paid presenters were all men.
According to the High Pay Centre, in 2018, UK chief executives can earn 120 times more than the average full-time worker earning £28 758.
With reference to an industry of your choice, evaluate why wage differences exist within the UK labour market.
In July 2017 it was announced that only a third of the BBC’s 96 top earning presenters were women and that its seven highest-paid presenters were all men.
According to the High Pay Centre, in 2018, UK chief executives can earn 120 times more than the average full-time worker earning £28 758.
With reference to an industry of your choice, evaluate why wage differences exist within the UK labour market.
TIP:
You need to investigate an industry which interests you, so you'll have the motivation to research and remember what you find:
The Premier League's three highest earning players in every position
Premier League clubs 'should pay real living wage' to staff
You need to investigate an industry which interests you, so you'll have the motivation to research and remember what you find:
The Premier League's three highest earning players in every position
Premier League clubs 'should pay real living wage' to staff
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Research alongside the specification and checklist to ensure you apply relevant theory to either:
a.) What you already know about the subject matter b.) What you can find out about subject matter with research Decide the layout which best suites your ability to retain information; mind maps , essay plans, revision cards |
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How Much Do Clubs Make in Broadcasting Income?
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Mino Raiola: Football's 'Super-Agent'
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Use the webinars and podcasts which add application for you:
Wage Differentials - Why do Footballers Earn More Than Teachers?