Help….Suppose you are a student just about to obtain your MBA and start looking for a job….?

Question by mike h: Help….Suppose you are a student just about to obtain your MBA and start looking for a job….?
Suppose you are a student just about to obtain your MBA and start looking for a job. An economist would say that you are about to enter the job market. Compare this market to the tin market that is described in the text. Is the job market for MBAs also an example of an ideal market? Is the price a sufficient statistic for this market? Discuss the latter question both from the point of view of employers and persons seeking employment.

Best answer:

Answer by NC
You need to read up on Michael Spence and his Nobel-winning research on signaling in labor markets:

http://nobelprize.org/nobel_prizes/economics/laureates/2001/public.html

http://nobelprize.org/nobel_prizes/economics/laureates/2001/ecoadv.pdf

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