It gives us immense pleasure to present the fifth edition of Macroeconomics. This edition meets the curriculum requirements to broaden each student's perspective and provides macroeconomic analysis its greatest breadth. It continues to offer a comprehensive explanation of various theories formulated at different stages of the growth of macroeconomics—classical, Keynesian and post-Keynesian. A succinct methodology is applied throughout to present the subject matter of macroeconomics.

• A new chapter on “Demonetisation and Implementation of GST in India”

• Up-to-date text with simplified interpretations, examples and latest economic data

• Step-by-step illustrations of macroeconomic theories using graphical and algebraic methods

• Enriched pedagogy with revised ‘Review’ questions, and new ‘Objective’ questions