Institutional approach and elements of transaction expenses theory conditioned three element on structure of human capital model

The structure of the human capital is considered as a tripartite model. The presented approach is based on the views of foreign and national economists-institutsionalists. The purpose of the work is to substantiate identification of the assets’ levels in relation to the theory of human capital. This theory forms the basis of the three-level human capital approach instead of the settled two-level approach. The allocated levels of the offered model of human capital are characterized. Multiple data of sociological research are provided to substantiate identification of allocated levels. The author’s view on the role played by specific human capital on relationships practiced by an employer and employee is shown. Therefore, the original explanation of the individual’s transition from the level of low-specific human capital to a higher level - idiosyncratic (firm-specific capital) is interesting. Correlations between the length of specific human capital saving period and the types of chosen contracts are shown. The choice of contract is especially important for an individual as a bearer of this type of human capital.