This is an introductory course for economics. The main purpose of this course is to teach students basic knowledge of economics and to apply them to the real world. The fall semester focuses on microeconomics theories of price and production. Key concepts include “market”, “price”, “supply”, “demand”, “competition”, “equilibrium” and ”costs”, etc. There is also a two-hour per week discussion session, to allow students to share their thoughts, to provoke interesting questions, and to increase their understanding of economics.