  In terms of an effective lagrangian, we examine the effect of new physics
associated with third-generation fermions on b b-bar production at the Z
resonance and study its implications for LEP2. We obtain the constraints on
such operators with derivative couplings at LEP1 and the SLC, and determine the
prospects for detecting their presence at LEP2. We find that despite the small
observed deviations from the standard model on the Z resonance, much larger
deviations from standard model predictions are possible at LEP2, and the
corresponding couplings can be determined rather precisely.
