Courses

Critically evaluate trade-offs between approaches
• Task Execution:
1. Manual Adaptation: Students will modify and execute a provided
Python base-script (using scikit-learn).
2. API Integration: Students will pass the identical task to an LLM via
API call.
• Comparative Analysis:
• Evaluate output consistency across different temperatures (0.0 to
1.0).
• Measure alignment between manual labels and LLM-generated
classifications.
• Applied Examples:
• Classification of politicians’ speeches (e.g., sentiment or policy
focus).
• Categorization of news articles into econometric relevant clusters.

Work is a key determinant in shaping people’s life. The choice of a career is a fundamental decision in life, the income derived from work is a crucial determinant of material well-being, losing a job and unemployment are major life shocks. For most, work is the most immediate effect of how the economy affects individuals. From a public perspective, unemployment, (good) job creation and wage inequality are key policy issues.

This course aims to understand the evolution and determinants of labor market inequality in terms of employment, wages, and welfare, and how labor market outcomes are affected by policies and institutions - such as minimum wages, collective bargaining, taxes and transfers, unemployment benefits, or short-time work.