The Principles of Microeconomics course was developed through the Ohio Department of Higher Education OER Innovation Grant. This work was completed and the course was posted in December 2019. The course is part of the Ohio Transfer Assurance Guides and is also named OSS004. For more information about credit transfer between Ohio colleges and universities, please visit: www.ohiohighered.org/transfer.Content ContributorsKen Fah Ohio Dominican UniversityJohn Fiske Ohio Dominican UniversityJoe Nowakowski Muskingum UniversityLibrarianNathan Wolfe Kenyon CollegeReview TeamMolly Cooper Ohio State University Subbu Kumarappan Ohio State University ATI
This topic examines income inequality, poverty, and discrimination in the U.S. and around the world. The focus is on the U.S. with comparative discussion on other select nations. It provides evidence on poverty trends and a discussion on the causes of poverty. It also provides evidence on income distribution and a discussion on the causes of income inequality. The impact of discrimination on wage earnings is examined. There is an emphasis on policy measures to address poverty and income inequality.
This topic introduces the features of the market for labor, a factor of production. It examines the factors that determine the demand for labor and supply of labor. Equilibrium employment and wages under different assumptions of output and labor market structure are presented. It considers the potential consequences of the minimum wage for workers and employers. Current developments in US labor markets including labor unions, and their implications for trends in wages and earnings are explored.