The goal of this course is to enable you to better understand and predict the economic behavior of individuals, firms, markets, and the government with the help of Microeconomic Theory and its applications to the analysis of contemporary business problems. In our economics lives, we have to make decisions that interact with the choices made by many other people. The outcomes of such interactions are often quite complex and the fundamental laws of motion that shape them are typically not visible to the naked eye. Our goal will be to develop a set of tools that will allow reasoned and systematic analysis of firms, markets, and policy options. This requires construction of models of behavior by consumers, producers, and other players (such as politicians and bureaucrats), as well as an understanding of the characteristics of the rules under which such interactions take place. Throughout, a concerted effort will be made to motivate your interest in a theory or an application by referring to real-world events concerning private sector actors as well as the government. The course will also pay particular attention to the economic consequences of globalization.