There are five major parts of subjects to be introduced in this course. The subject of the first part are about the household. We will focus on individual consumer's decision making with and without uncertainty. In the second part, we will focus on the decision making at the level of individual firm. Given the technological opportunities available to it, how much output will a firm choose to see, and how will the firm go about producing this output? In the third part, the competitive model will be introduced. We will see a competitive market produces results that are in some sense "good". In the fourth (will be covered in the Industrial Organization course), we will see different kinds of market structures. The price and output decisions under different market structure will be analyzed and compared with those under perfect competition. In the last part, the problem of missing market will be discussed (will be covered in the Topics in Microeconomics Theory course). In the presence of asymmetric information, the markets for certain commodities may not come into existence. Even if markets exist, they may fail to allocate resources efficiently. 《keywords：☑️Labor supply decision, ☑️Intertemporal Choice: Comparative Statics Analysis , ☑️Production Function (Technology), ☑️Marginal rate of technical substitution, ☑️Short run & long run cost, ☑️Homogeneous function, ☑️Price taking firm short run equilibrium, ☑️ Equilibrium in competitive market, ☑️Heterogeneous suppliers 》