This edition continues to provide a concise and systematic account of concepts, theories and practices of macroeconomics, with an emphasis on India. It seeks to improve the treatment by enhancing its topical coverage and learning tools, besides updating all economic data. The text has been primarily designed for the postgraduate students of business management and economics. It would be immensely
useful to practicing managers.

Salient Features :
• This new edition captures the significant macroeconomics events and developments which include case studies on Great Recession and Euro Area crisis, and theoretical developments such as securitisation of debt bundles, quantitative easing and hypothesis of the causal link between public debt & GDP growth rate, among others. The new theoretical/policy concepts have been added to the relevant chapters. These include wholesale and retail inflation, marginal standing facility tool with RBI, assignment rule for stabilisation policies, Taylor rule for interest rate target, propagation effect, demographic dividend and decoupling theory, among others.
• Chapters 12 and 13 have been significantly strengthened by incorporating the foreign exchange market explicitly.
• The book has been pedagogically enhanced with the integration of learning outcomes and key words in each chapter and a Glossary at the end of the textbook

PART 1: Introduction and Measurement Chapter 1 Introduction: An Overview Chapter 2 National Income Chapter 3 Inflation, Unemployment, and Poverty Chapter 4 Money, Fiscal, and Foreign Sector Variables PART 2: Behavioural and Technological Functions Chapter 5 Consumption Function Chapter 6 Investment Function Chapter 7 Government, Foreign Trade, and Foreign Exchange Rate Functions Chapter 8 Money Demand and Supply Functions Chapter 9 Production Function, Factor Market, and Aggregate Supply Function PART 3: Economic Fluctuations and Stabilisation Policy: Macroeconomic Models 10. Business Cycles, Stabilisation Policies and Economic Models 11. Classical and Keynesian Fixed Price Models 12. Keynesian Fixed Price, Open Economy (Mundell–Fleming) Model 13. Keynesian Flexible Price (AD-AS) Model and Policy Debate 14. New Classical and New Keynesian Models 15. Unemployment and Inflation: Causes, Consequences and Cures PART 4: Economic Growth and the State of Macroeconomics 16. Economic Growth 17. State of Macroeconomics