This course focuses on understanding the essential principles and tools of economic analysis that will equip you to make better managerial decisions in a global competitive environment. The approach will follow the saying that “all business is applied economics”. The course will consist of three parts. In the first part, we will study consumer and firm behavior, calculate various supply and demand elasticities, analyze costs and production decisions, and study the firm behavior under different market structures. We will conclude by examining the market failures and the government’s role in resource allocation decisions. In the second part, we will study the macroeconomic environment of business in view of domestic and international macroeconomic policies. Next, we will look at various strategic analysis frameworks, such the Porter’s Five Forces, Porter’s Diamond, SWOT, PESTEL, and others. Last but not least, we will work on developing academic research and writing skills with applications in economics.