The revised and updated second edition of Errol D'Souza's Macroeconomics presents the connections between theoretical frameworks and the actual behaviour of the economy in a more comprehensive manner. It enables instructors to teach relevant concepts within the context of both the Indian and the global economy, and at the same time provides policymakers with material from current research in macroeconomics.

One new chapter on the latest developments in the field of macroeconomics, including the recent global financial crisis as well as current problems in the area of macroeconomic policy and theory
More streamlined content to make macroeconomics easily accessible to the student and the general reader
MacroFocus boxes and marginalia that recreate instructor-student interactions by providing definitions, current trends, and further details
Graphs and figures, based on data taken from organizations such as the RBI and CSO, to represent theory in terms of Indian data
Test Yourself and Online Application problems for students' review
Instructor's manual with explanations and additional points for classroom discussions
A companion Web site with key topics presented through effective animations and PowerPoint lecture slides

Macroeconomics—What Is It About?
Savings, the Balance of Payments, and the Money Supply
Consumption
Investment
The Trade Balance and Exchange Rates
The Demand for Money
The Labour Market
The IS-LM Model
Aggregate Demand and Aggregate Supply
More on Unemployment
Open Economy: The Mundell-Fleming Model
Stabilization and Government Deficits
Monetary Policy Objectives and Targets
Economic Growth
Recent Development in Macroeconomics
Errol D'Souza studied economics and statistics at the University of Mumbai where he was awarded the Kashinath Trimbak Telang gold medal for obtaining the first rank in his MA degree. He went on to receive his Ph.D. as a University Grants Commission National Research Fellow from Jawaharlal Nehru University, New Delhi, with a study of the fiscal limitations on state intervention in post-Independence India. He joined Goa University as an assistant professor in the Department of Economics and, for some time, was a consultant to the Finance Department, Government of Goa. In 1994, he moved to the University of Mumbai as an associate professor in industrial economics and public finance. In 1995, he was awarded a Ford Foundation fellowship and was a visiting scholar at Columbia University, New York, where he did theoretical work on the effectiveness of fiscal policy and tax evasion. Subsequently, in January 1999, he was appointed Industrial Finance Corporation of India Chair Professor at the Department of Economics, University of Mumbai. Currently, Professor D'Souza is a professor of economics at the Indian Institute of Management Ahmedabad. He is a consultant to the Indian industry and the banking sector, the Reserve Bank of India, the United Nations Development Programme, the International Labour Organization, the Planning Commission, as well as the central and various state governments; he has worked as a member of the academic committees of the University Grants Commission and the Indian Council of Social Science Research; and he was an associate of the Indian Institute of Advanced Study, Shimla. He is also a director on the board of the National Housing Bank and an honorary senior fellow at the National University of Singapore.