The main goal of this work is to reveal social filters in the system of assessing the higher education services market. On the basis of the institutional interpretation of market relations, mechanisms and features of asymmetries formation in the educational services market are investigated. The role of the institutional environment ensuring…

This article illustrates how literature can bring models to life in undergraduate courses on labor market economics. The authors argue that economics instructors and students can benefit from even small doses of literature. The authors examine excerpts from five American novels: "Sister Carrie" by Theodore Drieser (1900/2005); "The Grapes of…

In an effort to more comprehensively understand economics as a foundation of human resource development (HRD), this article reviews economic theories and models pertinent to HRD research and theory building. By examining neoclassical and neoinstitutional schools of contemporary economics, especially the screening model and the internal labor…

This paper analyzes the properties of the process of social and economic attainments in two contrasting situations: (1) when the process of attainment generates the distribution of attainments, and (2) when the structure of attainments is seen as exogenously determined. It is argued that the neoclassical economic theory of earnings determination…

This paper provides an account of the main approaches, debates and evidence in the literature on the role of workforce skills in the innovation process in developed economies. It draws on multiple sources including the innovation studies discipline, neoclassical Human Capital theory, institutionalist labour market studies and the work organisation…

In this study a model for the supply of college educated labor is developed from human capital theory. A demand model is added, derived from neoclassical production function theory. Empirical estimates are made for white males and white females, using cross-sectional data on states of the U.S., 1960-70. In human capital theory, education is an…

Compares and contrasts two economic views, political economy and neoclassical economics, as they pertain to the development of human capital and education in rural areas. The concluding discussion draws implications for rural educators. (Author/KS)

This volume, part of a series of monographs that explores the relationship between the economy and schooling, is intended to show how economists have sought to cast light on the economic nature of education, on resource allocation problems within the education sector, and on policy implications of such analyses. The first part describes the basic…

The contemporary academic labor market is examined using concepts from labor market economics and sociology to elucidate why teaching, universally acknowledged to be at the center of American academic life, is not at the center of the academic labor market and is only modestly rewarded. First, tenets of the neoclassical labor market model are…