A leading text on ?Macroeconomics?, this book follows a clear, balanced, and model-based approach that equips students with the tools to analyze economic policy - its strengths as well as its limitations?and to connect theory with real-world issues. Retaining the rigor and accessibility of the original text, it provides a strong foundation in intermediate macroeconomics and demonstrates how different models are linked to current economic debates. This adapted edition aims to meet the need for a text that explains macroeconomics in both global and Indian contexts. It incorporates recent changes in India?s National Income Accounting, new methodologies of measurement, and the specific features of the Indian macroeconomic environment. With Indian data, examples, and policy discussions integrated into the original framework, the book enables B-School and university students to gain a deeper understanding of not only the U.S. and world economy but also the structure, challenges, and dynamics of India?s economy today.