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. Key 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 stabilization 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. Table of Contents: Part 1: Introduction and Measurement Part 2: Behavioural and Technological Functions Part 3: Economic Fluctuations and Stabilisation Policy: Macroeconomic Models Part 4: Economic Growth and the State of Macroeconomics