[1] Introduction PART I REGULATION, FINANCE AND CORRUPTION [2] Why, for a Certain Class of Bribes, the Act of Giving a Bribe should be Treated as Legal [3] Too Small to Regulate - Kaushik Basu & Avinash Dixit [4] A Marketing Scheme for Making Money off Innocent People: A User's Manual [5] A Simple Model of the Financial Crisis of 2007-2009, with Implications for the Design of a Stimulus Package [6] Non-Recourse Mortgages and Credit Market Breakdowns: A Framework for Policy Analysis PART II POLICYMAKING IN A GLOBAL ECONOMY [7] Globalization of Labor Markets and Growth Prospects of Nations [8] International Lending, Sovereign Debt and Joint Liability: An Economic Theory Model for Amending the Treaty of Lisbon (written jointly with Joseph Stiglitz) [9] How to Devalue Exchange Rates without Building up Reserves: Strategic Theory for Central Banking [10] The Art of Currency Manipulation: How Some Profiteer by Deliberately Distorting Exchange Rates PART III THE INDIAN ECONOMY: DIVERSE CONCERNS [11] China and India: Idiosyncratic Paths to High Growth and the Risks of Stalling [12] The Rise of the Indian Economy: Fiscal, Monetary and Other Policy Challenges [13] India's Food grain Policy: An Economic Theory Perspective [14] Understanding Inflation and Managing It [15] Child Labor and Household Wealth: Theory and Empirical Evidence of an Inverted-U (with Sanghamitra Das and Bhaskar Dutta) PART IV THEORY AND METHOD [16] Fiscal Policy as Instrument of Investment and Development [17] Does Economic Theory Influence Government Policy. [18] Randomization, Causality and the Role of Reasoned Intuition

The book draws new insights from domestic and global expertise and experience. I have no doubt that this book, when published, will be a landmark in the literature on policy-making in India since it addresses a somewhat neglected area of study, research and appreciation in India, namely institutional economics. I strongly recommend publication. This is bound to be a good book. I recommend it. I hope the [Introduction] will not only 'pull together the various chapters of the book' but also present (and argue) the role of the economic theorists in policymaking. The work seems to be significant contribution to the scholarship field in general and the literary style is excellent. The manuscript is highly specialized. Some of the select areas are covered in the light of both developed and developing economies. The Oxford University Press may decide to publish the manuscript. This is an interesting collection of 18 essays. The common thread of all the essays is the feature that all these emerged from active economic policy making. All the essays are of uniformly top-notch quality and are, as expected, well-constructed and carefully argued.

A primer on basic economics Covers matters that are of great interest to all policy makers and students of economic policy making Insights from global and domestic expertise and experience Addresses a neglected area of study, research, and appreciation in India, namely institutional economics

Kaushik Basu is Professor of Economics and C. Marks Professor of International Studies at Cornell University. He was formerly Chief Economist and Senior Vice President of the World Bank and prior to that Chief Economic Adviser to the Indian Government. Professor Basu has published widely in several fields, including development economics, game theory, welfare economics and law and economics. He has also published in the popular press, including the New York Times, BBC news online and the Indian Express. He has received honorary doctorates from several universities and IIT Bombay. In 2008 he was awarded the Padma Bhushan by the President of India.

A primer on basic economics Covers matters that are of great interest to all policy makers and students of economic policy making Insights from global and domestic expertise and experience Addresses a neglected area of study, research, and appreciation in India, namely institutional economics