Modern Labour Economics

Labour economics as a discipline has changed dramatically in recent years. Gone are the days of a "job for life". These days, firms and employees are part of a less regulated, more fluid, and more international labour market and knowledge, training, human resource development and human capital are all major factors on the contemporary scene.

This new textbook is the first properly international textbook to reflect these swingeing changes. Its key areas of concentration include:


* the increasing importance of human capital including education and occupational choice
* the major subdivision of personnel economics including economic inactivity and absenteeism
* comparative cross country studies and the impact of globalization and migration on national labour markets
* equal opportunities and issues of discrimination on the basis of race, gender and disability.

Other issues explored include the supply and demand of labour, wages, the current role of trade unions and working time. The book is written in a clear, accessible way with some mathematical exposition, reflecting the text’s grounding in current microeconomic theory. The book also contains case studies designed to illuminate theoretical concepts and exercises and discussion questions to test the students understanding of the various concepts outlined in the text.

Peter Sloane is Professor of Economics at Swansea University, UK. He is the Director of the Welsh Economy Labour Market Evaluation and Research Centre and author of Employment Equity and Affirmative Action: An International Comparison (2003).

Paul L. Latreille is Senior Lecturer in Economics at Swansea University, UK. He is an expert on vocational training, industrial (employment) tribunals; disability and inactivity.

Nigel O’Leary is Senior Lecturer in Economics at Swansea University, UK. His research interests include the economics of discrimination, public sector wage determination, the economics of education and the Welsh economy.

Philip Murphy is Professor of Economics at Swansea University, UK. His main areas of activity include European labour markets, wage structures, trade unions and public sector pay.

Part A: Workers 1. Labour Force Participation 2 . Theoretical and Empirical Issues in Labour Supply 3. Changing Jobs 4. The Human Capital Model 5. Trade Unions Part B: Firms 6. The Demand for Labour Part C: Labour Markets 7. The Employment Contract and Wage Incentives 8. The Structure of Labour Markets 9. Collective Bargaining 10. Industrial Conflict and Cooperation 11. Public Policy