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ISBN/ISSN : GMD : Collection Type : Location :
Title Labor Economics
Edition Second Edition
Call Number KAPAL Library 331 BOR L
ISBN/ISSN 0-07-231198-3
Author(s) George J. Borjas - Personal Name
Subject(s) Labor Economic
Labor Market
United States
Classification 331
Series Title
GMD Text
Language English
Publisher McGraw-Hill
Publishing Year 2000
Publishing Place Boston
Collation xv; 521 hlm; 25 cm
Abstract/Notes Labor economic studies how labor markets work. Important topics addressed by labor economics include the determination of the income distribution, the economic impact of unions, the allocations of a worker's time to the labor market, the hiring and firing desicions ofv firm, labor market discrimination, the determinants of unemployment, and the worker's decisons to invest in human capital. Models inn labor economics typically contain three actors: workers, firm, and the goverments. It is typically assumed that workers maximize their well-being and that firm maximize profits. Governments influence the decisions of workers and firms by imposing taxes and granting, and by regulating the "rules of the game" in tha labor market. A good theory of the labor market should have realistic assumption, should be tractable, and should provide empirical implications that be tested with real world data. The tools of economics are helpful for answering positive questions. The answer to a normatiove questions, however typically requestion. THe answer to a normative question, however, typically requires that we impose a value judgement on the desirability of particular economic outcomes
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