Sociology 2145B Study Guide - Final Guide: Human Capital, Wage Labour, Status Attainment

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Labour markets: an arena in which employers seek to purchase labour from potential employees who are seeking jobs suitable to their education, experience, and preferences. Human capital theory: investment in education and training (human capital) = better jobs (higher returns) Job rewards are determined by its economic contribution and how risky they are. Individuals choose among work options, and settle for the best job. Overlooks the demand-side of the labour market. Emphasizes the supply-side of labour market at the expense of the demand-side (behaviour and characteristics of employers and organizations) The hct focuses on the characteristics of individuals. Core value underlining educational systems: equality of opportunity. Youth from high-income families and those whose parents are highly educated are more likely to attend university. Middle/upper class parents have higher expectations and serve as role models for their children. Place of residence also plays a role (rural vs. urban: think of living in toronto vs. halifax.

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