Éducation and the Labour Market

Putting them together, education and work account for the largest period in a person's life. Furthermore, as the relevant literature points out, there are strong bilateral ties between education and the labour market. This thesis explores the interrelations among them in a microeconomic level and identifies gains and losses for the individual from adolescence till retirement. Using both theoretical models and empirical tools, it addresses several questions such as: How can parental working status affect children’s educational choices in a tuitionfree school system and what are the consequences ? What are the economic gains from different types of education, in terms of wages and employment ? Do academic or vocational qualifications imply higher gains for individuals in the labour market? And finally, how does education affect retirement decisions and why better educated workers can stay longer in the labour market ? These questions are examined for Belgium, and special attention is placed upon the specificities of its socioeconomic environment and education system.