The fundamentals of managerial economics, laws of demand and supply, elasticity, market equilibrium, consumer and producer surplus, price controls, taxes; Understanding consumers: laws of diminishing marginal and equi-marginal utility, indifference curves and budget constraint, optimizing conditions, substitution and income effects; Cost, pricing, and production: Pricing, scale, and scope, strategy and game theory, normal and extensive form games, NE and SPE; Pricing and market power: perfect competition, monopoly, oligopoly, monopolistic competition, price discrimination, market power risk and uncertainty, incentives and information, regulations and public policy.