"This the eighteenth lecture in the ""Lectures on Human Capital"" series by Gary Becker. This series of lectures recorded during the Spring of 2010 are from ECON 343 - Human Capital, a class taught every year by Gary Becker at the University of Chicago. In this class, Becker expounds upon the theory of Human Capital that he helped create and for which he won the Nobel Prize. Please see attached lecture notes, video annotations, and reading list for more information.
Professor Becker continues to discuss concepts of the specialization and the division of labor problem. He also gives insights and develops economic models that explain social specialization. However, in this lecture he also introduces concepts such as coordination costs, marriage, and teamwork. He explains when and why the agents of the economy will work together.
Also, he explain how differences in personal abilities and how the tasks' difficulty affect the social outcomes. Professor Becker talks about the importance of the market as a coordinator of economic activities. He talks about communication, complementary skills, and entrepreneurship as basic concepts in the understanding of modern economies.
"This series of lectures recorded during the Spring of 2010 are from ECON 343 -- Human Capital, a class taught every year by Gary Becker at the University of Chicago. In this class, Becker expounds upon the theory of Human Capital that he helped create and for which he won the Nobel Prize.
In total, there are 19 lectures. Each lecture includes a short description of topics covered as well as topical keywords. The interested viewer is also provided with references to books and journal articles from Gary Becker's own original research that bear on the topics discussed in each lecture. Additionally, the viewer is also referred to the appropriate section of a freely available and informal set of student notes. These lecture notes are provided as-is and the author, Salvador Navarro Lozano cannot accept responsibility for any typos or errors. Much of the lecture material already appears in one of Gary Becker's academic books and those remain the best source of information in case of any doubts.
Over the years, thousands of graduate students in Economics, Sociology, Public Policy, and other fields have benefited from the teachings of Gary Becker in his Human Capital class. We hope that by providing these lecture videos and notes that people around the world can increase their own human capital and enjoy studying this fascinating subject of human capital as taught by Gary Becker.
Filmed by: Joey Brown Lecture Summaries: Jorge L. Garcia Lecture Notes: Salvador Navarro Lozano Supported by: The Becker Center at the Booth School of Business at the University of Chicago"
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