Basically, the goal of this course is you to provide ‘economic way of thinking’. Mastering the “economic way of thinking” will you to build skills that will be of value in your life and also it will help you to gain new world of ideas, approaches, and perspectives. This is the introductory course in microeconomics, which studies the behavior of individuals, firms, and governments in response to different incentives. In this course we will cover several topics- economics concepts (like scarcity and efficiency, opportunity cost), price system, consumer and producer behavior, the analysis of supply and demand, elasticities of demand and supply. We will also use these concepts to evaluate the market effects of changes in price and income, market structures of perfect competition, monopoly, monopolistic competition, and oligopoly.