Test students' ability to apply demographic transition theory and dependency-ratio concepts to analyze pension policy challenges in aging societies: interpret stages of demographic transition, calculate child/old-age/total dependency ratios from age-structure data, assess fiscal and labor-market impacts on pay-as-you-go versus funded pension systems, and develop evidence-based policy recommendations (e.g., retirement-age reform, benefit adjustments, migration, fertility incentives) that weigh trade-offs. Include short quantitative calculations and a brief written justification for proposed policy options.