This course familiarizes students with basic notions and terminology of economic theory. In particular, in the context of microeconomics, it examines the concept of the market and supply/demand, of competition, oligopoly and monopoly, as well as some aspects of cost-benefit analysis and game theory. It also introduces some major concepts and terminology of macroeconomics such as GDP, inflation, unemployment, growth, fiscal vs. monetary policy, and exports-imports-balance of trade.