Basic economic concepts & Theories , Understanding Micro & Managerial Economics , Important terms and vocabularies covering micro-, macro- and managerial economics, etc. -Income-Expenditure, Circular Flows of Economics/ Saving-Investment and Supply-Demand – Concepts & Applications, etc. Production and Organization of the Firm: Theory of the firm; Theory of consumer behavior; Theory of production; Production and Cost; Cost and Profit Analysis; etc. Market Forces: Demand & Supply; Demand and Elasticity; Firms vs. Markets; Strategic Interactions and Game Theory; Pricing with Market Power; incentives, Information and Market Structure; Regulation & Public Policy, etc. Population &Labor force, Employment, Full employment & Unemployment types, Okun’s law, Measuring unemployment rate and natural rate of unemployment, Child Labor, Index of economic freedom, -Reliance on technology & capital goods, Labor Division and specialization, Pricing Methods; Regulating the Market Economy; Economies of Scale, etc. Market systems: Characteristics, Market prices, Market system, Money & Banking, Market participants, Managing in Competitive and Monopolistic Markets; Managing in Oligopolistic Markets. Market Models & Market Determinants: Taxes and Subsidies, Costs of Regulation, Decision Making under Uncertainty: Risk Analysis, Globalization and International trade: Basic Assumptions, Classical & Modern International -Trade Theories Cost advantages, Product-cycle and Diamond theories.