This course equips students with an excellent basis for economic thinking and analysis that is important for the remaining education, as well as for the professional careers in many areas. It begins with an introduction to the economic way of thinking and the main principles of Economics. Then it introduces the supply and demand, the concept of elasticity, and the market equilibrium. We then turn our attention to firms, costs of production, optimal production and profit maximization. Market structures and their impact on firms’ behavior is then assessed. Students are then introduced to the alternative growth strategies of firms, and the foundations of governing business. The course ends up with the concept of externalities and the theory of consumer choice.