Labor Economics 6th Edition by George Borjas offers a contemporary introduction to labor economics, emphasizing each idea and empirical evidence. The book uses many examples drawn from state-of-the-art studies in labor economics literature. The creator introduces, through examples, methodological strategies which can be generally used in labor economics to empirically take a look at numerous points of the theory.
This text continues the new tradition by additional tightening up the dialogue on labor provide so that the chapter now comprises material that may be roughly finished in every week of lectures. In an effort to keep the labor provide discussion at a tractable size (and consistent with my philosophy that textbooks are not meant to be encyclopedias), some material that had been a staple in earlier editions is now omitted (specifically, the models of family fertility and household specialization).
The text continues and expands different traditions established in earlier editions. Specifically, the text has quite a lot of new detailed coverage applications in labor economics and makes use of the evidence reported in state-of-the-artwork analysis articles for example the various uses of contemporary labor economics.
As earlier than, the text makes frequent use of such econometric tools as the difference-in-differences estimator and instrumental variables-tools that play a central position in modern research in labor economics. Actually, the text introduces college students to yet one more tool in our econometric arsenal, the method of fastened effects-a method that's extensively used to make sure that the empirical analysis is indeed holding “other things equal.”
Most important, a lot of customers of the textbook have repeatedly requested a more technical presentation of some of the basic models of labor economics. To accommodate this request, I've written a Mathematical Appendix that appears at the end of the textbook. This appendix presents a mathematical model of among the canonical models in labor economics, including the neoclassical model of labor-leisure selection, the model of labor demand, a derivation of Marshall’s guidelines of derived demand, and the schooling model.
It is extremely vital to emphasize that the Mathematical Appendix is an “add-on.” None of the material in this appendix is a prerequisite to studying or understanding any of the discussion in the 12 core chapters of the textbook. Instructors who like to offer technical derivation of the various models can use the appendix as a takeoff point for their very own discussion and presentation.
This is the first time that such an appendix appears within the textbook, so I would notably welcome any suggestions or reactions that might be helpful in the presentation and group of the material in the next edition (together with strategies for additional models that must be discussed).
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