Economics is seen as one of the most innovative and popular books in the subject area across the globe. This revised edition of the book gives comprehensive discussion on all major areas of both micro and macro aspects of economics, with inclusion of insightful new content around trends. From real-life examples to cutting-edge learning resources, Economics gives a student-centered learning environment that presents content in new, engaging ways. With its modern approach and inclusion of new data, examples, and cases from global as well as Indian context, the book makes learning and applying economics easier for instructors and students alike. Salient Features:A simple and engaging read that gives comprehensive discussion on basic to advance topics in economicsIncludes new chapters on Market Failures Caused by Externalities and Asymmetric Information, Public Goods, Public Choice, and Government Failure, and The IS-LM ModelBalances theory with practice through innovative in-chapter features, like Key Graphs and Quick ReviewFeatures new Consider This and Last Word elements that focus on real-life examples and cases in global as well as Indian context.