Pensions for the retired or the notion of Social Security was not always the domain of the federal government. Individuals were expected to save a little of each paycheck for the day they would at last retire. Those who were aggressive enough to negotiate a pension plan with an employer were few indeed. The majority of working Americans, however, lived check to check, with little or nothing extra to be saved for the future. Many became a drag on the rest of the family upon retirement. The Social Security Act of 1935 aimed to improve this predicament.

Principles of Microeconomics is an introductory undergraduate course that teaches the fundamentals of microeconomics. This course introduces microeconomic concepts and analysis, supply and demand analysis, theories of the firm and individual behavior, competition and monopoly, and welfare economics. Students will also be introduced to the use of microeconomic applications to address problems in current economic policy throughout the semester.

Explores the role of government in the economy, applying tools of basic microeconomics to answer important policy questions such as government response to global warming, school choice by K-12 students, Social Security versus private retirement savings accounts, government versus private health insurance, setting income tax rates for individuals and corporations.