The fifth edition of the book has been thoroughly revised and considerably enlarged. It has a wide coverage and comprehensively deals with all important topics on the subject, viz. National Income, Classical Theory of Employment, Determination of Income and Employment, Savings, Investment and Multiplier, Consumption Function, Marginal Efficiency of Capital, Rate of Interest, Saving-Investment Equality, Principle of Acceleration, Unemployment in an Undeveloped Economy, Secular Stagnation, Money and Prices, Inflation and Deflation, Credit Creation and Credit Control, Business Cycles, Economic Stabilization, Monetary Policy, Fiscal Policy, Fiscal Policy and Economic Development, Deficit Financing, Public Debt, Growth Models, etc.
The text has been supplemented with figures, tables and equations wherever required, and presented in a lucid manner for easy understanding by the readers. The book will be found highly useful by undergraduate and postgraduate students and teachers of Economics.
K.R. Gupta is a well known Economist. He has published over a dozen books which include six volumes of Liberalisation and Globalisation of Indian Economy. In addition, he has contributed more than hundred papers in leading journals published in India and abroad. He has been teaching postgraduate classes and guiding research for about two decades in the University of Jammu and Kurukshetra University. He has been teaching Macroeconomics to postgraduate students for fourteen years. He has worked as an Economist in private as well as public sector. His last assignment was as Economic Advisor to Modi Enterprises.
Ram Krishna Mandal, M.A. (Distinction), M.Phil., Ph.D. in Econometrics, BLIS and B.Ed. from North Bengal University, West Bengal has been serving the Department of Economics, Dera Natung Government College, Itanagar, Arunachal Pradesh. He has authored three books: An Introduction to Micro-economics, Socio-Economic Transformation of Arunachal Pradesh, and Money, Income and Rational Expectations in Indian Economy. To his credit, he has twenty research papers on national and regional issues published in various national and international journals. He has presented papers in various seminars/conferences.
Amita Gupta is a postgraduate in Economics and trained in Education Counselling. She is a renowned personality in the area of Modern Resource Centre Development. She has been writing on diverse subjects. She is co-author of the Concise Encyclopaedia of India. She is also the co-editor of Handbook of Universities.
