This edition has been revised and more details have been added to accommodate the Syllabi of more South Indian Universities, who have introduced this subject in their B.Com., B.B.A., and B.B.M. courses.International Trading Environment and International Economic Groupings have been discussed in detail, besides International Economic Institutions viz., IMF and IBRD.

Further, sections have been devoted for Counter Trade, Devaluation,Economic Growth (Poverty and Unemployment), Balance of Payments, Monetary and Credit Policy; and also Export and PREFACE TO THE THIRD EDITION

Import Policy for 2002-2007. Moreover, Tenth Five-Year Plan has been discussed very briefly.

Finally, a section has been devoted on Regional Imbalance and Social Injustice.

As usual, Review Ouestions have been given at the end of each chapter.

The author is much thankful to reaching fraternity who had responded well to the previous editions, and it is earnestly hoped that they will continue to do so.

The author expresses his profound thanks to Margham Publications Chennai-17, for bringing out this edition, in the shortest possible time