We will cover the key concepts of microeconomics. How should rational economic decisions be made? How do markets function and how can market outcomes be evaluated? What are the most important sources of market failures and what can the government do about them? The course will also cover fundamental concepts in behavioral decision science. We will discuss predictable irrational behaviors and the consequences of deviations from the assumption of pure self-interest. The learning objective is to understand common pitfalls in decision-making, also in order to avoid making them ourselves. In the last part of the course, we will learn the method of “business experiments,” the gold standard for studying causal effects and evaluating management decisions, and design our own business experiments addressing questions that arise in our work environments.