Economics

Contents of Indian Adaptation 
A Centrist Proclamation 
Preface 
Preface to the Indian Adaptation 
Preface to the Revised Indian Adaptation
For the Student: Economics and Internet 
Useful Websites on Indian Economy 

PART 1 BASIC CONCEPT 
1. The Central Concepts of Economics  
2. The Modern Mixed Economy 
3. Basic Elements of Supply and Demand

PART 2 MICROECONOMICS: SUPPLY, DEMAND, AND PRODUCT MARKETS 
4. Supply and Demand: Elasticity and Applications 
5. Demand and Consumer Behavior 
6. Production and Business Organization 
7. Analysis and Costs 
8. Analysis of Perfectly Competitive Markets 
9. Imperfect Competition and Monopoly
10. Competition among the Few  
11. Economics of Uncertainty

PART 3 FACTOR MARKETS: LABOR, LAND, AND CAPITAL 
12. How Markets Determine Incomes  
13. The Labor Market 
14. Land, Natural Resources, and the Environment  
15. Capital, Interest, and Profits 

PART 4 APPLICATIONS OF ECONOMIC PRINCIPLES 
16. Government Taxation and Expenditure  
17. Efficiency vs. Equality: The Big Tradeoff 
18. International Trade 

PART 5  MACROECONOMICS: ECONOMIC GROWTH AND BUSINESS CYCLES 
19. Overview of Macroeconomics
20. Measuring Economic Activity 
21. Consumption and Investment 
22. Business Cycles and Aggregate Demand  
23. Money and the Financial System  
24. Monetary Policy and the Economy 

PART 6 GROWTH, DEVELOPMENT, AND THE GLOBAL ECONOMY 
25. Economic Growth 
26. The Challenge of Economic Development 
27. Exchange Rates and the International Financial System 
28. Open-Economy Macroeconomics 

PART 7 UNEMPLOYMENT, INFLATION, AND ECONOMIC POLICY 
29. Unemployment and the Foundations of Aggregate Supply 
30. Inflation 
31. Frontiers of Macroeconomics 

Glossary of Terms 
Index

About the Book:

This book has been a definitive resource for understanding economic principles, balancing theory with real-world applications. This 21st adapted edition enhances its relevance for Indian readers with updated data, contemporary Indian examples, and new topics like Basics of Behavioral Economics and expanded coverage of Game Theory. The book includes appendix on Global Warming, the Repeated Prisoners’ Dilemma Game and discussions on Wage Inequalities, Gross Capital Formation, and Market-Based Instruments in India. With its rigorous yet accessible approach, this edition remains an essential text for undergraduate and postgraduate students of economics and finance.


Key Features:

1. Updated Indian data across chapters
2. Appendixes have been added to each of the Chapters 16 to 30 focusing on the Indian economy under Macroeconomics part
3. New topics added - Behavioral Economics, Gig Economy, Sustainability Economics alongside new inputs in the Microeconomics part. 
4. Expanded coverage on Game Theory
5. Updates reflecting the change in the base year (2011–12) and adjustments to long-term economic series data.