1.Eight new Boxed Examples in the Twelfth Edition address engaging topics such as the “Big Mac” real-wage index, how housing subsidies affect labor supply, the effects of linguistics on
personal discount rates, and the effects of race on called strikes in baseball.
2.An expanded treatment of the labor-market effects of immigration in Chapter 10 ties into the growing debate on unauthorized immigration, one of today’s hot-button issues. The chapter now
includes analysis of the elasticity of the labor demand curve and the economic effects of low-skilled immigration on higher-skilled workers.
3.An enhanced discussion of human capital investments in Chapter 9 offers a more detailed analysis of how “behavioral skills,” psychic costs of learning, and personal discount rates affect
the returns to education. These issues are highly relevant to students as they look ahead to their future careers.
