On Friday, April 5, 2024, Dr. Qais Aslam, Professor of Economics, University of Central Punjab, Lahore, delivered a lecture to the participants of 35^th SMC on “Basic Concepts of Microeconomics for Decision Making”. The talk covered fundamental concepts in microeconomics, including consumers and producers, demand and supply dynamics, and consumer preferences. It delved into the theory of production, exploring aspects such as production costs, opportunity costs, and transaction costs. Additionally, it discussed the importance of understanding market structures and how they influence economic behavior. Lastly, the talk highlighted various data sources essential for estimating microeconomic parameters effectively.