Overview

Examine the essential aspects of modern labor economics from an international perspective with Hyclak/Johnes/Thornton's highly accessible FUNDAMENTALS OF LABOR ECONOMICS, 3E. This convenient, digital edition provides a comprehensive survey of economic theory and empirical evidence on purely competitive labor markets. These acclaimed authors examine the impact of imperfect competition, incomplete information and uncertainty, and institutional factors -- stemming from government regulation, unions, social norms, and human resource management policies -- on wages and employment opportunities. The latest updates address important issues today, such as wage and income inequality, labor market effects of international migration, the impact of occupational licensing on wages and employment, and labor aspects of the current 'gig' economy. First-hand labor economics research and results further enhance your understanding of the world in which you will work and manage employees.

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Robert Thornton is the MacFarlane Professor Emeritus of Economics at Lehigh University and an Associate Director of the Martindale Center for the Study of Private Enterprise. He has also served as chairman of Lehigh’s Department of Economics. His research interests lie in the areas of labor economics (particularly unionism in the public sector, occupational licensing, and labor market discrimination) and forensic economics. He has taught courses in labor economics and statistics. He received his Ph.D. in Economics from the University of Illinois after having served as a research assistant at the Brookings Institution. He began his academic career at Lehigh in 1970 and has been a visiting research professor at the University of Sussex (UK) and University College Dublin (Ireland). He also serves as a private consultant in litigation involving personal injury, wrongful death, and discrimination. Geraint Johnes is Professor of Economics at Lancaster University Management School. His research focuses on labor economics and the economics of education, with a particular interest in the efficiency of educational provision. His recent papers include work on the gig economy and on the future of the high street. From 2014-15 he was Director of the Work Foundation, a major London-based think-tank dealing in policy issues surrounding the labor market. Dr. Johnes earned his B.Sc. from Bath University and his M.Sc. and Ph.D. from Lancaster. Dr. Johnes has earned numerous professional awards and has been a visiting or guest professor at Dartmouth College, Lehigh University, Australian National University, Beijing Normal University, Oxford University, Cardiff University, and the University of Glasgow. Thomas Hyclak is Professor of Economics Emeritus. His research has involved empirical studies of the determinants of wage levels, unemployment, and earnings distributions with an emphasis on urban/regional labor markets and developments in Poland and other transition economies. Dr. Hyclak has also published several studies of the impact of human resource management innovations and industrial relations activities on the performance of workers and their organizations. Recent research projects include studies of the wage returns to foreign language proficiency and the effect of health improvements and increased life expectancy on economic growth. Dr. Hyclak earned his B.A. and M.A. from Cleveland State University and his Ph.D. from the University of Notre Dame and previously served as department chair and as interim dean for the College of Business and Economics.

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