Personnel Economics studies applications of economic and mathematical approaches, econometric and statistical methods to traditional topics in the study of human resources management such as internal labor market within an organization. It includes but not limits to compensation, turnover, incentives, and compensation, norms, teamwork, worker empowerment, and peer relationships. This subject analyzes the efficient allocation and motivation of employees as well as their skill development within a company. In addition, the course also discusses the recruiting mechanisms and effective training strategies. The course also focuses on recent empirical data in the practice of human resource management.