Lecture Microeconomics (20/e): Chapter 15 - Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn

In this chapter we examine how wages are determined in competitive markets and imperfectly competitive markets. We look at factors that impact wages, including the influence of unions. We will analyze wage differences with union models including craft unions and industrial unions. We will discuss reasons for wage differentials across jobs and analyze the effects of the minimum wage on the labor market.