• Summary
  • Contents
  • Subject index

Interest in economics is at an all-time high. Among the challenges facing the nation is an economy with rapidly rising unemployment, failures of major businesses and industries, and continued dependence on oil with its wildly fluctuating price. Economists have dealt with such questions for generations, but they have taken on new meaning and significance.Tackling these questions and encompassing analysis of traditional economic theory and topics as well as those that economists have only more recently addressed, 21st Century Economics: A Reference Handbook is a must-have reference resource.Key FeaturesProvides highly readable summaries of theory and models in key areas of micro and macroeconomics, helpful for students trying to get a "big picture" sense of the fieldIncludes introductions to relevant theory as well as empirical evidence, useful ...

Labor Markets
Labor markets

Work is a part of life for almost all people around the world. Though the types of work people do and the conditions under which that work is done vary endlessly, people get up each morning and choose to use their human capital in ways that generate some sort of productive good or service or that help prepare them to be productive economic citizens in the future. Some of this work is done in the privacy of the home, where beds are made, children are raised, and lawns are mowed. While this unpaid productive activity is essential to a well-functioning economy, this chapter addresses work time and skills that are sold in markets in exchange for wages and other compensation.

The purpose of ...

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