This core course provides an understanding of basic economic principles, beginning with the core concepts of demand and supply, markets, and competition. It helps understand market failures and apply economic principles to policy problems such as the concentration of economic power and resources, social inequality, and protecting the environment. Throughout, the course explicitly examines the role of government and the tools available to policy-makers to influence markets. (Offered Fall, Spring, and Summer Term.) Students are required to register for a corresponding lab.