This e-learning outlines USAID's value chain approach, principles, and the value chain project cycle. Value chains encompass the full range of activities and services required to bring a product or service from its conception to sale in its final markets. This course provides a conceptual understanding of value chains as a way to link small firms to economic growth opportunities, while ensuring both the incentives for and the capability to compete in and benefit from market participation. It outlines USAID's value chain approach, principles and value chain project cycle, and highlights value chain development best practices and project design. It is a self-paced course requiring approximately 45 minutes. Developed by USAID's Microenterprise Development team, this is the third of four courses in The Value Chain Approach e-learning series that aim to enhance design and management of value chain projects. Together, they present a primer on USAID's value chain approach to economic growth and poverty reduction.