Built on the foundation of the course “Principles of Economics”, this course provides a comprehensive treatment of microeconomics from the viewpoints of policy as well as theory. As the sequel to introductory microeconomics, this course will probe further into the rationality behind some standard theories and introduce recent development in economic theory. It aims at achieving, in a balanced manner, two equally important objectives: (1) to introduce more economic models and cultivate students' economic thinking that can be applied in real world and (2) to help students acquiring more sophisticated quantitative tools for addressing economic problems and conducting economic analyses.