4.1 Learning outcomes
- Understand the definitions of unemployment rate, labour force participation rate, and the other basics of labour force survey. Apply the definitions to evaluate the situations in labour markets and understand the limits of the measures.
- Understand the definitions of the natural rate of unemployment, cyclical unemployment, friction unemployment, and structure unemployment.
- Identify the factors of various types of unemployment and apply the knowledge to discuss the impact of events and policies on a labour market.
