Principles of Economics: Essential Concepts
4th Edition
9364443829
·
9789364443821
© 2026 | Published: May 20, 2026
About the Book:This textbook is designed to assist students in taking basic economics courses at both college and university levels. Written in simple and easy-to-understand language, it caters to those with no prior knowledge of economics. The topic…
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PART 1: MICROECONOMICS
Chapter 1: Introduction to Microeconomics
Chapter 2: Demand and Supply
Chapter 3: Elasticity of Demand and Supply
Chapter 4: Market Equilibrium
Chapter 5: Theory of Consumer Behaviour
Chapter 6: Theory of Production
Chapter 7: Cost of Production
Chapter 8: Market Structure I: Perfect Competition and Monopoly
Chapter 9: Market Structure II: Monopolistic Competition and Oligopoly
Chapter 10: Factor Market and Theory of Distribution
PART 2: MACROECONOMICS
Chapter 11: Introduction to Macroeconomics
Chapter 12: National Income Accounting
Chapter 13: National Income Equilibrium
Chapter 14: Role of Government
Chapter 15: Macroeconomic Problems
Chapter 16: Money and Banking
Chapter 17: Indian Economy
Chapter 18: International Economics
Chapter 1: Introduction to Microeconomics
Chapter 2: Demand and Supply
Chapter 3: Elasticity of Demand and Supply
Chapter 4: Market Equilibrium
Chapter 5: Theory of Consumer Behaviour
Chapter 6: Theory of Production
Chapter 7: Cost of Production
Chapter 8: Market Structure I: Perfect Competition and Monopoly
Chapter 9: Market Structure II: Monopolistic Competition and Oligopoly
Chapter 10: Factor Market and Theory of Distribution
PART 2: MACROECONOMICS
Chapter 11: Introduction to Macroeconomics
Chapter 12: National Income Accounting
Chapter 13: National Income Equilibrium
Chapter 14: Role of Government
Chapter 15: Macroeconomic Problems
Chapter 16: Money and Banking
Chapter 17: Indian Economy
Chapter 18: International Economics
About the Book:
This textbook is designed to assist students in taking basic economics courses at both college and university levels. Written in simple and easy-to-understand language, it caters to those with no prior knowledge of economics. The topics covered in this book align with the latest syllabus prescribed by Indian universities for diploma and degree levels. This edition includes more in-depth explanations of economic theories and concepts. Several important topics have been added, including market failure, game theory and a new chapter on the Indian economy. Each chapter begins with a mind map to give students a clear overview of what to expect, followed by the expected learning outcomes. The text is interspersed with margin notes and tips highlighting important sections. In this edition, two new features, the ‘Think Box’ and the ‘Hint Box’, have been introduced. These additions encourage students to think critically and relate concepts to real-world scenarios. A summary at the end of each chapter has been added to provide students with a quick recap of the key concepts learned. We have also included a new section, ‘Key Economic Distinctions’, to help students easily grasp the similarities and differences between concepts. The questions at the end of each chapter in this edition are designed to challenge students and test their understanding of the material. Additionally, a real-world case study is included at the end of each chapter to connect economic theory with practical applications.
Key Features:
• Aligned with the latest Indian curriculum guidelines
• Focusing on conceptual clarity with practical understanding
• Covers microeconomic and macroeconomic principles
• Real-world illustrations linking theory to current issues
• Clear explanations supported by diagrams and examples
This textbook is designed to assist students in taking basic economics courses at both college and university levels. Written in simple and easy-to-understand language, it caters to those with no prior knowledge of economics. The topics covered in this book align with the latest syllabus prescribed by Indian universities for diploma and degree levels. This edition includes more in-depth explanations of economic theories and concepts. Several important topics have been added, including market failure, game theory and a new chapter on the Indian economy. Each chapter begins with a mind map to give students a clear overview of what to expect, followed by the expected learning outcomes. The text is interspersed with margin notes and tips highlighting important sections. In this edition, two new features, the ‘Think Box’ and the ‘Hint Box’, have been introduced. These additions encourage students to think critically and relate concepts to real-world scenarios. A summary at the end of each chapter has been added to provide students with a quick recap of the key concepts learned. We have also included a new section, ‘Key Economic Distinctions’, to help students easily grasp the similarities and differences between concepts. The questions at the end of each chapter in this edition are designed to challenge students and test their understanding of the material. Additionally, a real-world case study is included at the end of each chapter to connect economic theory with practical applications.
Key Features:
• Aligned with the latest Indian curriculum guidelines
• Focusing on conceptual clarity with practical understanding
• Covers microeconomic and macroeconomic principles
• Real-world illustrations linking theory to current issues
• Clear explanations supported by diagrams and examples