Strong microeconomic foundations are important in the understanding of macroeconomics. This text is designed to give the student a feel for economic institutions and a sense of perspective in dealing with unsolved economic problems. The argument is essentially non-mathematical, but for those who use a more mathematical approach, calculus is included in the footnotes. This work is designed for use by undergraduates on courses in microeconomic theory, managerial economics, public administration, and MBA courses.