The course objective is for students to develop a logical, conceptual, and analytical understanding of microeconomic principles. This course introduces foundational concepts of economic principles, such as opportunity costs and supply and demand, and explores primary microeconomic principles, including efficiency and fairness in markets, government actions and their impacts, the decisions that consumers and producers make, different market structures from perfect competition to monopoly, and factor markets and income distribution. Students are presented with real-world contemporary examples that apply theory to practice, demonstrating the relevance of microeconomic thought.