“Increases in Minimum Wages lead to higher Unemployment rates” Discuss arguments both in favour and against this statement based on Microeconomic and/or Macroeconomic theories covered this term, while also presenting empirical evidence in regards to the relationship between institution of minimum wages by governments and unemployment.

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Assignment Question:

“Increases in Minimum Wages lead to higher Unemployment rates”

Discuss arguments both in favour and against this statement based on Microeconomic and/or Macroeconomic theories covered this term, while also presenting empirical evidence in regards to the relationship between institution of minimum wages by governments and unemployment. Key/suggested references: A) Microeconomics theories A suggested reference list can be found in the reading lists on the VLE for the following weeks: Week 14 (Term 2), while some of the basic concepts of the framework discussed in week 14 requires understanding of the topics and Weeks 11, 12 and 13 (Term 2). B) Macroeconomics theories A suggested reference list can be found in the reading lists on the VLE for the following weeks: Week 17 to 19 (Term 2). Tutorial/Seminar details (e.g., time, room, preparation needed): Tutorials related to the Assignment Question will take place on the 15 th of March. Please prepare in advance and attend your tutorials, as you may ask any questions that relate to the assignment question topic during this time. 2 Word limit: 3000 words Referencing style (e.g., APA, Harvard): Harvard