This course will focus on how decisions are made in determining the use or allocation of scarce resources in producing goods and services desired by all individuals. Every society must choose, explicitly or implicitly, what will be produced and how industry will be arranged to achieve production levels. Microeconomics is the study of how these choices are arrived at, under a predominantly market system, and how well the outcome meets human needs. A study of markets, market structures and production theory will be central to the course.