This is a standard introductory course in microeconomics. It focuses on the way the market system works. The decisions of households, firms, and governments are coordinated through markets in which prices adjust to keep buying plans and selling plans consistent. The U.S. economy relies mainly on markets to coordinate these decisions, although sometimes governments intervene. We will explore various social issues using the principles developed throughout the course. Upon completion of the course students will have a better understanding of economic problems, efficiency, laws of demand and supply, consumer choice theory, market organization, production and cost.