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Personnel Economics in Practice, 2nd Edition

September 2008, ©2009
Personnel Economics in Practice, 2nd Edition (EHEP000821) cover image


Economics is a methodology that has been applied to many areas of human behavior, and has had enormous influence on the study of organizations and human resources. Developed by much of the founding research from Edward Lazear, this economic approach in these areas adds rigor, structure, and clarifies many important issues.

The goal of this text is to give the reader a rigorous framework for understanding organizational design and the management of employees. Not only will students learn and apply ideas from microeconomics, but they will also learn principles that will be valuable in their future careers.

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Table of Contents

About the Authors.



Part One: Sorting and Investing in Employees.

Chapter 1: Setting Hiring Standards.

Chapter 2: Recruitment.

Chapter 3: Investment In Skills.

Chapter 4: Managing Turnover.

Part Two: Organizational and Job Design.

Chapter 5: Decision Making.

Chapter 6: Organizational Structure.

Chapter 7: Job Design.

Chapter 8: Advanced Job Design.

Part Three: Paying for Performance.

Chapter 9: Performance Evaluation.

Chapter 10: Rewarding Performance.

Chapter 11: Career-Based Incentives.

Chapter 12: Options and Executive Pay.

Part Four: Applications.

Chapter 13: Benefits.

Chapter 14: Entrepreneurship and Intrapreneurship.

Chapter 15: The Employment Relationship.



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Author Information

Edward P. Lazear, senior fellow at the Hoover Institution of War, Revolution and Peace since 1985, is also the Jack Steele Parker Professor of Human Resources, Management and Economics at Stanford University's Graduate School of Business. Current and founding editor of the Journal of Labor Economics, and past president of the Society of Labor Economists, Professor Lazear is the visionary leader in the field of human resource management.

Michael Gibbs is Clinical Professor of Economics at the University of Chicago Graduate School of Business. Gibbs earned his PhD in Economics from the University of Chicago. He is a leading empirical researcher in the field of personnel economics, and has received awards for excellence in research and teaching.

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The Wiley Advantage

  • Presents the most rigorous analyses of traditional general management questions available, yet with emphasis on practical application of the ideas.
  • Uses many real-world and up-to-date examples, including some data from the authors’ research.
  • Written at a level that is appropriate for MBA students, undergraduate economics majors, or human resource students. Many chapters have appendices with advanced analyses.
  • Instructor’s Companion Website – Password protected website www.wiley.com/college/lazear offers instructors a complete package of teaching resources including: Teaching notes and additional resources, Sample exercises, and PowerPoint lectures
  • The title is divided into four core sections:
  • Section I: Sorting & Investing in Employees.  This section covers recruitment, development and turnover of employees.
  • Section II: Organizational & Job Design.  This section covers organizational structure and job design.
  • Section III: Paying for Performance.  This section is material that is quite familiar to economists, and will be useful in a wide variety of courses, since the economics of incentives is an important component of much of economics and business curricula.
  • Section IV: Applications.  The text concludes with three chapters applying the concepts to specific topics.
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Instructors Resources
Wiley Instructor Companion Site
Instructor Resources
PowerPoint Lectures
Sample Exercises
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Students Resources
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Purchase Options
Wiley E-Text   
Personnel Economics in Practice, 2nd Edition
ISBN : 978-0-470-46551-6
480 pages
November 2008, ©2009
$71.50   BUY

Personnel Economics in Practice, 2nd Edition
ISBN : 978-0-471-67592-1
480 pages
September 2008, ©2009
$263.95   BUY

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