Market, Labour Market Szabó Rozália. Market, Labour Market - Outline The Market What is it? Supply...

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Market, Labour Market

Szabó Rozália

Market, Labour Market - Outline The Market

What is it? Supply and Demand Market Structures Types of Market

The Labour Market Recruitment Selection Documents (CV, Covering letter)

The Market

What is it?1 It is the place where supply and

demand meet.2 It is the system of exchanges based

on supply and demand.

Supply and Demand

Supply: the amount of goods and services available to use or buy.

Demand:the amount of goods and services wanted by customers.

Supply and Demand (con.)

The relationship between supply and demand influences prices.

Market price: the point where the supply and the demand curve meet.

Supply and Demand

The basic rules of market mechanism: If demand exceeds supply, the price

increases. If supply exceeds demand, the supplier

decreases the prices to encourage customers to buy more.

The price and quantity are inversely related.

Supply and Demand

Equilibrium Over-supply Over-demand

Market Structures

Based on the number of sellers: Oligopoly: the market is dominated

by a few large suppliers.

Monopoly: the market is dominated by only one supplier.

Types of Market Real estate market

Plots with or without buildings Capital and money market

Long- and short-term funds, investments

Commodity market Consumer durables and fast-moving

consumer goods (FMCG) Labour or job market

The Labour or Job Market

Human resources are in the centre of supply and demand.

Vacancy→Recruitment Recruitment:

In-company Outside the company

The Labour Market (cont.)

In-company recruitment notice boards news bulletins recommendations from managers,

supervisors

The Labour Market (cont.)

Recruitment outside the company: Placing advertisements in newspapers

or magazines Job description, specification Conditions of work and salary

Recruitment agencies Providing a list of suitable candidates

Executive search firms /headhunters

The Labour Market Application of candidates for the

position: CV + covering letter Standard application form

Selection (HR or Personnel Department) Assessment Short-listing Job interviews – conducted by the

interviewing panel

The Labour Market

Documents to be submitted: CV /Resumé Covering letter/Letter of Application

The Labour Market Parts of a Curriculum Vitae:

Personal particulars (name, address, date of birth, tel. no., e-mail address)

Education Qualifications Work experience Skills Interests References

The Labour Market Parts of a Covering Letter:

Purpose of writing, introduction Where you saw the ad Why you want the job Emphasising your most relevant experience

and skills How you meet the requirements, why you

can be one of the best candidates When you are available for an interview.

Covering Letters I am interested in working as a …. I wish to apply for the job of a …. advertised

in ….. I think I could satisfactorily fill the post you

advertised in…. I am said to have excellent interpersonal

skills. I would be delighted to have an opportunity

to work for your company. My reasons for a change are the greater

opportunities offered by this position.

Covering Letters As you can see from my Curriculum Vitae… I have had …years of experience of….. At present I am employed as ….. My qualifications seem to fit me for this

position. I left school with very good grades in….. I took a …-year course at ….. I obtained a certificate of intermediate

level English in… I graduated from …university.

Covering Letters The persons below may be contacted as

a reference. I would appreciate the privilege of a

personal interview. Please find enclosed a copy of my

resumé. I will be available for an interview any

day after…. I may be reached/contacted at the

above address.

Covering Letters Thank you very much for your time and

consideration. I would appreciate an early reply from

you concerning my application.

Thank you for your attention.

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