This course is designed to allow students to have a more complete and in-depth understanding of the economic system we live in (Capitalism) and of ways in which to think of and evaluate the system. The major topics that this course will cover include an introduction to a way of thinking about these formations and their problems. Emphasis will be put on economic analysis; market forces as manifested in demand and supply; analysis of economic theorizing; decision making and profit maximization by businesses in the marketplace; different market structures beyond pure competition; market failures and the role of the government; class conflict and class struggle. In addition, we will try and understand some basic philosophies of economics. The course also provides applications of these economic concepts to help students learn the applicability of basic economic principles to real life.