On Wednesday, September 18^th, 2024, Dr. Qais Aslam, Professor of Economics, University of Central Punjab, Lahore, delivered a lecture to the participants of 36^th SMC on “Basic Concepts of Microeconomics for Decision – Making”. The talk covered Classical & Neo-classical school of economics fundamental concepts in microeconomics, including consumers and producers, demand and supply dynamics, and consumer preferences. Speaker also discussed theory of production, exploring aspects such as production costs, opportunity costs, and transaction costs. Lastly, the talk highlighted various data sources essential for estimating microeconomic parameters effectively.