Labor Economics

  1. Human Capital
    1. Education as Investment
      1. Schooling Model
        1. Costs and Benefits of Schooling
          1. Direct and Opportunity Costs
            1. Present Value Calculations
            2. Wage-Schooling Locus
              1. Relationship Between Education and Earnings
              2. Marginal Rate of Return to Schooling
                1. Calculation and Interpretation
                  1. Internal Rate of Return
                2. Empirical Analysis of Education Returns
                  1. Estimating the Rate of Return to Education
                    1. Mincer Earnings Function
                      1. Empirical Methods
                        1. Limitations and Biases
                        2. Ability Bias
                          1. Selection Issues
                          2. Alternative Theories of Education
                            1. Signaling Model of Education
                              1. Education as a Signal of Ability
                                1. Assumptions and Mechanisms
                                2. Separating and Pooling Equilibria
                                  1. Conditions for Each Equilibrium
                                  2. Human Capital vs. Signaling Debate
                                  3. Training and Skill Development
                                    1. On-the-Job Training
                                      1. General vs. Specific Training
                                        1. Definitions and Examples
                                          1. Implications for Mobility
                                          2. Who Pays for Training
                                            1. Worker vs. Firm Investment
                                              1. Shared Investment Models
                                            2. Life-Cycle Earnings
                                              1. Age-Earnings Profiles
                                                1. Typical Patterns Over the Life Cycle
                                                  1. Factors Affecting Age-Earnings Profiles
                                                  2. Experience and Tenure Effects
                                                    1. Depreciation of Human Capital

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                                                  5. Compensating Wage Differentials

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                                                  7. Labor Mobility