A "vicious circle" is something (bad) that continues to repeat itself. For example:
A causes B, then B causes C, then C causes A...
This is a vicious circle, because after C causes A, the cycle begins again (A causes B, etc.). The whole event repeats itself again and again. We call it a "vicious circle" if what is repeating is something negative.
As Nanren says, "101" is the name for a basic course in a subject. We sometimes use the term "[something] 101" to refer to a very basic or fundamental element of a subject. So "Vicious Circles 101" would mean "this is a very typical/basic/obvious example of a vicious circle."