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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.