Contents: Business environment: an introduction: Business environment: concept and scope -- Macroeconomic environment: major issues -- Corporate governance and social responsibility of business -- Alternative economic systems -- Growth models in India planning -- New Economic policy: liberalisation, privatization and globalisation -- Analysis of national income and employment: Circular flow of income and national income accounting -- Determination of national income: two sector Keynesian model -- Determination of national income: three sector and four sector and four sector models -- Consumption function -- Keyne's theory of investment multiplier -- Investment demand and accelerator theory -- Analysis of employment and unemployment -- Business cycles and economic stabilization: Analysis of business cycles -- Economic stabilization: fiscal policy -- Analysis of monetary sector: Demand for money -- Supply of money and its determinants -- Money market equilibrium -- Monetary policy for economic stabilization -- Monetary policy in a developing economy with special reference to India -- Integration of commodity and money markets and analysis of inflation and unemployment: The IS-LM Curve model -- Inflation and unemployment: Philips curve and rational expectations theory -- Analysis of inflation: causes, effects and control -- International business environment: International trade: comparative cost and Heckscher Ohlin theories -- National income and foreign trade: foreign trade multiplier -- International linkages and mundell-fleming model -- Trade policy: free trade vs protection -- Foreign trade policy: import substitution vs export orientation -- India's foreign trade -- Foreign exchange rate -- Role of international organisations: IMF and world bank -- Balance of payments and performance of India's external sector -- Foreign capital and multinational corporations (MNC) -- Globalization and its impact on the Indian economy -- India and world trade organization (WTO) -- Some aspects of India's business environment: Role of fiscal policy and taxation in economic development -- Government borrowing and debt-financing of budget deficit -- Resource mobilisation through money financing of budget deficit -- Fiscal deficit and economic growth -- Financial sector reforms -- New industrial policy, 1991 in India -- Public sector and privatisation -- Industrial sickness in India -- Consumer protection: consumer rights and redressal mechanism -- Capital market in India -- Environment, climate change and sustainable development -- Planning in India: 1951 - 1991 -- Economic crisis 1991 and planning in post-reforms period -- Global financial crisis and its impact on the world economy.