To provide a report detailing findings from the economic literature on the effectiveness of pay for performance, and how performance should be evaluated based on incentive pay.
• You should aim to think critically and write originally.
• Explain your answers using the economic concepts and theory discussed. You will be rewarded for linking the theory with a real-life example.
Report Structure: (Full Version)
Introduction: description of the intent of this report and how to go about it
• Section A: Background of the organization Fair Work Commission Australia (check its website) to get some general background about this Australia governmental agency - confined to 150 words or less.
Write about its objectives, goals and basic functions. And of course the purpose and reason of producing this report. (remember that you are engaged by this agent to produce the report.)
• Section B and with sub-sections like B.1, B.2 and so on: on literature review on key ideas, concepts and theories relating to General Labor Supply, Backward Bending SS Curve, Efficiency Wage Theory (more effort on this), and Pay - Performance Structure. This requires rigorous references of research articles, news paper write out and also those articles (emphasis should be given to UC's paper on Efficiency Wage Theory) posted at LMS. Key concepts are mainly found in these articles and a bit of lecture supplement notes. (Preferable 1200 to 1500 words)
• Section C and with sub-sections like C.1, C.2 and so on: relate those key concepts discussed in section B that can be applicable to a specific firm, case or situation (preferably in Singapore context) and discuss how these ideas and concepts can be used here and some issues (some usefulness as well as some possible problems) can be encountered while implementing a Efficiency Wage and Pay Performance structure based on the conceptual framework proposed here. (preferably 300 to 500 words)
• Section D: a brief recommendations and comments (100 to 300 words)
• Conclusion (about 100 words)
• Appendices: (No word count) (No need to submit in soft copies)
-- Tables, Charts, Stats, Data info, graphs and others
Format: about 2000 to 2500 words
Plenty of readings will be provided.
Budget : $60 SGD
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