A basic introduction to microeconomic theory. This course explores those theories that explain in detail how an economy works. It introduces supply and demand, the firm, price theory, production and cost, with an application of these and other relevant theories to problems in the market economy. In this course, we will study different types of market structure, different kinds of firms’ reaction to customers’ demand and competitors’ strategy and government interventions. Special attention will be devoted to game theory and strategic interactions. All the concepts will be applied on real life examples.