Discuss the concept of screening and signaling as well as their roles in solving/mitigating the asymmetric information problem when firms are unable to tell if workers are of high or low ability during the hiring process.

Discuss the concept of tournament model and explain the possible advantages and disadvantages of the tournament model.

Discuss the concept of labour market mobility and explain the different types of labour mobility as well as the possible motivation behind why workers are willing to migrate. Briefly run through the concepts of return and repeat migration.

Define labour market discrimination. Elaborate on what it means. Discuss the different types of discrimination that a minority worker might encounter throughout his or her lifetime that is related to both pre-market and labour market biases. Discuss the types of policies that can be taken to tackle discrimination, be it market-based, initiatives taken by the Australian government or actual legislation to combat the discrimination issue.